Aggiedad77: Good Afternoon Family.....I'm going to take a break in some personal things and weigh in here on a couple of things....as I see them....gotta remember this tho...and it is important....I'm a left-handed Texas Aggie....there's the handicap …Frank don't be afraid to jump in and cut off my legs if you feel you need to.
The confusion I see this afternoon is around this "credit rating".....
IMHO....this has nothing to do with "loans"....those are happening with the IMF and the World Bank Group....both of which fully understand Iraq's standing at this time as they have been providing loans to Iraq for various reasons for a number of years.....
But back to this "credit rating" issue.....Iraq is seeking to tender some international bonds in USD denominations to the tune of $5 billion dollars.....they want this "credit rating" for these bonds.....
The higher the "credit rating" they can establish specifically for these bonds, the more solid the bonds appear to investors....I'm thinking anything at an "A" rating or higher is what their target is going to be
....
The confusion I see this afternoon is around this "credit rating".....
IMHO....this has nothing to do with "loans"....those are happening with the IMF and the World Bank Group....both of which fully understand Iraq's standing at this time as they have been providing loans to Iraq for various reasons for a number of years.....
But back to this "credit rating" issue.....Iraq is seeking to tender some international bonds in USD denominations to the tune of $5 billion dollars.....they want this "credit rating" for these bonds.....
The higher the "credit rating" they can establish specifically for these bonds, the more solid the bonds appear to investors....I'm thinking anything at an "A" rating or higher is what their target is going to be
....
I'm also not a banker, but highly suspect the credit process they must undergo is not anything like what you or I would do say to get a loan for a home or probably even a small business type of loan....this is high dollar corporate/international type of wheeling and dealing we are talking about here.....at least far above my pay grade.
As someone suggested this afternoon forget everyday normal person thinking about this process...that goes out the window...and any such bets are out the window.
If I've muddied the waters any I apologize....just my take on what we've seen reading about and hearing about.
As for May.....I don't see Dr. S sticking his neck out just yet.....M may be in a coma or maybe not....but he hasn't been "contained" as yet....that still needs to happen.....we know Dr. S and his history he's going to be overly cautious about any move he makes....he's got some time and I am sure he is watching many monitors all at once, just like we might watch college football on many monitors on a Saturday in the Fall.....
PM Abadi is doing his best to gather his ducklings and keep them grouped....the Kurds, the Sunnis, his Shiite brothers....he's at a point where he needs and wants everyone happy....."Don't Worry Be Happy"....the BEST is yet to come.
We are blessed with a relatively new member in Thunderhawk that has been providing us with as much data as our other news crew provides....he's strong-arming his way onto the playing field.....and I'll be honest....I can't keep up with his onslaught of articles....great job....keep it up....if someone wants my take on a particular article after I've posted news summaries let me know and I'll try to make it happen....will also try to hit the more "juicy" articles myself too. Aloha Randy
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Backdoc: ONE OF THE MOST SIGNIFICANT PLAYERS IN THE MONETARY REFORM PROCESS OF VIETNAM IS THIS IN MY OPINION,VERY RAPID CONSOLIDATION OF BANKS IN THEIR COUNTRY. (See Article Below)
ITS OBVIOUS TO ME AFTER MONITORING THEIR PROGRESS THESE PAST FEW YEARS WE SEE A CONSOLIDATIVE EFFORT ON THEIR PART TO FEW STRONG BANKS COMPARED TO MULTITUDES OF WEAK FINANCIAL INSTITUTIONS.
ALSO WE ARE SEEING STATE OWNED CORPORATIONS THAT ARE BEING SOLD TO THE PUBLIC. WE CLEARLY SEE AS I'VE BEEN SAYING FOR SOME TIME NOW THAT VIETNAM IS FOLLOWING MANY OF THE SAME PATHWAYS THAT IRAQ HAS.
I HAVE PERSONAL FEEDBACK AS TO THE RESTRICTION FROM THE BANKS NOW ON SELLING DONG TO THE PUBLIC.
RESTRICTING THE SALE OF AN INTERNATIONALLY TRADED CURRENCY IS CERTAINLY UNUSUAL TO ME. SMILE!! OF COURSE BROKERS ARE STILL MAKING IT AVAILABLE.
MMMMM. JUST LIKE THE DINAR. DOC
**********
ThunderHawk :VIETNAM: Bank, Finance Firm Mergers To Pick Up Speed
The Asia Commercial Bank (ACB) will be the latest bank to join the wave of mergers among commercial banks and finance companies that is expected to become a major trend this year.
ACB had announced yesterday that it would submit for approval, a project to set up a finance company with a charter capital of VND500 billion (US$23.25 million), during its shareholders meeting on April 22.
Industry experts said that the wave of mergers of commercial banks and finance companies is expected to continously surge this year to meet legal regulations and boost consumer lending.
The experts said the move would become a major trend this year, explaining that according to a State Bank of Viet Nam (SBV)’s draft circular regulating the consumer credit activities of financial companies, which is expected to be approved soon, commercial banks would need to establish financial companies if they want to venture into consumer lending.
Besides, State-owned groups and firms would also become obliged to finalise capital divestment from non-core businesses, including financial companies, from this year.
Senior finance expert Can Van Luc told the Dau tu (Investment) newspaper that State-owned groups and firms were facing huge pressure to exit from financial companies and this was an opportune time for banks to fully merge with these companies and boost consumer lending.
Luc pointed out that consumer lending accounted for just 6 per cent of the total outstanding loans in Viet Nam. Meanwhile, this rate was 15 to 20 per cent in many other countries, and as high as 35 to 40 per cent in the US market.
Besides, the merger activities of banks and financial firms were forecast to be vibrant this year, as per a SBV circular, which said banks would only be allowed to possess a stake in a maximum of two credit institutions, and the ownership must not be greater than 5 per cent.
At present, many banks own several stakes in financial companies, and in many cases their stakes surpass the 5 per cent benchmark.
Techcombank, for example, already possesses a 10 per cent stake in Viet Nam Chemical Finance JSC (VCFC). The bank, therefore, had announced earlier this year that VCFC would transfer roughly 90 per cent of their stake to Techcombank in the first quarter this year, bumping up Techcombank’s total stake in VCFC to 99.87 per cent.
Other mergers between financial companies and banks are also expected to become a reality this year, including between the Sai Gon-Ha Noi Bank (SHB) and Vinaconex-Viettel Finance JSC (VVF), and between the Maritime Bank and Textile Finance JSC (TFC), both of which have received in-principle approval from SBV.
Earlier this month, the HCM City Housing Development Joint Stock Bank (HDBank) and the Japanese Credit Saison Company Ltd also formed the HD Saison Finance, in which the two will contribute to develop the retail finance industry in the country.
Banking expert Huynh Trung Minh said the growing number of finance companies would help reduce interest rates on consumer loans and improve the service quality of lending.
http://ift.tt/1E2UGMZ
As someone suggested this afternoon forget everyday normal person thinking about this process...that goes out the window...and any such bets are out the window.
If I've muddied the waters any I apologize....just my take on what we've seen reading about and hearing about.
As for May.....I don't see Dr. S sticking his neck out just yet.....M may be in a coma or maybe not....but he hasn't been "contained" as yet....that still needs to happen.....we know Dr. S and his history he's going to be overly cautious about any move he makes....he's got some time and I am sure he is watching many monitors all at once, just like we might watch college football on many monitors on a Saturday in the Fall.....
PM Abadi is doing his best to gather his ducklings and keep them grouped....the Kurds, the Sunnis, his Shiite brothers....he's at a point where he needs and wants everyone happy....."Don't Worry Be Happy"....the BEST is yet to come.
We are blessed with a relatively new member in Thunderhawk that has been providing us with as much data as our other news crew provides....he's strong-arming his way onto the playing field.....and I'll be honest....I can't keep up with his onslaught of articles....great job....keep it up....if someone wants my take on a particular article after I've posted news summaries let me know and I'll try to make it happen....will also try to hit the more "juicy" articles myself too. Aloha Randy
***********
Backdoc: ONE OF THE MOST SIGNIFICANT PLAYERS IN THE MONETARY REFORM PROCESS OF VIETNAM IS THIS IN MY OPINION,VERY RAPID CONSOLIDATION OF BANKS IN THEIR COUNTRY. (See Article Below)
ITS OBVIOUS TO ME AFTER MONITORING THEIR PROGRESS THESE PAST FEW YEARS WE SEE A CONSOLIDATIVE EFFORT ON THEIR PART TO FEW STRONG BANKS COMPARED TO MULTITUDES OF WEAK FINANCIAL INSTITUTIONS.
ALSO WE ARE SEEING STATE OWNED CORPORATIONS THAT ARE BEING SOLD TO THE PUBLIC. WE CLEARLY SEE AS I'VE BEEN SAYING FOR SOME TIME NOW THAT VIETNAM IS FOLLOWING MANY OF THE SAME PATHWAYS THAT IRAQ HAS.
I HAVE PERSONAL FEEDBACK AS TO THE RESTRICTION FROM THE BANKS NOW ON SELLING DONG TO THE PUBLIC.
RESTRICTING THE SALE OF AN INTERNATIONALLY TRADED CURRENCY IS CERTAINLY UNUSUAL TO ME. SMILE!! OF COURSE BROKERS ARE STILL MAKING IT AVAILABLE.
MMMMM. JUST LIKE THE DINAR. DOC
**********
ThunderHawk :VIETNAM: Bank, Finance Firm Mergers To Pick Up Speed
The Asia Commercial Bank (ACB) will be the latest bank to join the wave of mergers among commercial banks and finance companies that is expected to become a major trend this year.
ACB had announced yesterday that it would submit for approval, a project to set up a finance company with a charter capital of VND500 billion (US$23.25 million), during its shareholders meeting on April 22.
Industry experts said that the wave of mergers of commercial banks and finance companies is expected to continously surge this year to meet legal regulations and boost consumer lending.
The experts said the move would become a major trend this year, explaining that according to a State Bank of Viet Nam (SBV)’s draft circular regulating the consumer credit activities of financial companies, which is expected to be approved soon, commercial banks would need to establish financial companies if they want to venture into consumer lending.
Besides, State-owned groups and firms would also become obliged to finalise capital divestment from non-core businesses, including financial companies, from this year.
Senior finance expert Can Van Luc told the Dau tu (Investment) newspaper that State-owned groups and firms were facing huge pressure to exit from financial companies and this was an opportune time for banks to fully merge with these companies and boost consumer lending.
Luc pointed out that consumer lending accounted for just 6 per cent of the total outstanding loans in Viet Nam. Meanwhile, this rate was 15 to 20 per cent in many other countries, and as high as 35 to 40 per cent in the US market.
Besides, the merger activities of banks and financial firms were forecast to be vibrant this year, as per a SBV circular, which said banks would only be allowed to possess a stake in a maximum of two credit institutions, and the ownership must not be greater than 5 per cent.
At present, many banks own several stakes in financial companies, and in many cases their stakes surpass the 5 per cent benchmark.
Techcombank, for example, already possesses a 10 per cent stake in Viet Nam Chemical Finance JSC (VCFC). The bank, therefore, had announced earlier this year that VCFC would transfer roughly 90 per cent of their stake to Techcombank in the first quarter this year, bumping up Techcombank’s total stake in VCFC to 99.87 per cent.
Other mergers between financial companies and banks are also expected to become a reality this year, including between the Sai Gon-Ha Noi Bank (SHB) and Vinaconex-Viettel Finance JSC (VVF), and between the Maritime Bank and Textile Finance JSC (TFC), both of which have received in-principle approval from SBV.
Earlier this month, the HCM City Housing Development Joint Stock Bank (HDBank) and the Japanese Credit Saison Company Ltd also formed the HD Saison Finance, in which the two will contribute to develop the retail finance industry in the country.
Banking expert Huynh Trung Minh said the growing number of finance companies would help reduce interest rates on consumer loans and improve the service quality of lending.
http://ift.tt/1E2UGMZ
Bernice Z….I see that draws are nessecary (like building a house) but I guess what I am having a hard time with is if CBI and A have a green light and have been taking what it needs to get it done...why then do we still need Dr S to take a 30 days or how ever long.... when he was supposedly working on this years ago.....
I remember very well the video that I saw on the net that showed Dr S sitting at Jackson Hole Lake Lodge and telling the person that was interviewing him...."stating Iraq was ready and it would be able to compete like others" with his smile...
That Iraq had what it needed"....I see people like Delta stating apprx 2 weeks and then others say that May needs to be over so we go into Ramadam....sorry for the confusion
**********
TEMTEM: Bernice- I agree!
**********
Zochowski: AFTERNOON "BERNICE N TEMTEM"
LET ME START BY SAYING, DO NOT LOOK AT THIS FROM A WESTERN WORLD VIEWPOINT.......
ALTHOU WE ARE TIED BY LAND N WATER BY THIS WORLD OF OURS,
THEY HAVE THIER MINDSET N FOLLOW ISLAMIC JUST AS WE HAVE OUR MINDSET N FOLLOW GREGORIAN..............
THAT SAID, THIS NEEDS TO BE TAKEN INTO CONSIDERATION, IMO........
ITS LIKE TIME.........IF YOU TRAVELED TO HAWAII, WHICH I THINK ARE 12 OR 16 DIFFERENCE FROM CENTRAL TIME ZONE HERE........DO YOU CONTINUE TO WORK N PLAY OFF CENTRAL TIME THERE OR SO YOU ADJUST TO THIER TIME????????????
IF YOU WENT TO INDIA OR AFRICA , WOULD YOU USE THIER CURRENCY OR OURS???? OR WOULD YOU USE AMERICAN EXPRESS N LET THEM WORK OUT THE EXCHANGE RATE, LOL LOL
TO CONTINUE, WHOS TO SAY THAT DR.S HAS NOT BEEN WORKING HIS FINGERS TO THE BONE SINCE FEBRUARY??????????
WHILE ABADI HAS BEEN DOING WHAT HE NEEDS TO DO.........THRU THE SAME TIME FRAME?????????
DONT FORGET:
THE TROOPS WERE PULLED OUT WHEN N BY WHO????
WHO FILLED THAT VOID N CAME BACK IN TO IRAQ??????
WHO DECIDED TO POINT THE FINGER AT DR.S??????
THIS IS LIKE THE CHILD WHO HAS BEEN TAUGHT ONE WAY N FOUR YRS LATER IS BEING TAUGHT A DIFFERENT WAY, BY A DIFFERENT PERSON.....
TAKES A WHILE...........N MIGHT NOT TAKE AS LONG AS YA ALL THINK....G/B M/Z
I remember very well the video that I saw on the net that showed Dr S sitting at Jackson Hole Lake Lodge and telling the person that was interviewing him...."stating Iraq was ready and it would be able to compete like others" with his smile...
That Iraq had what it needed"....I see people like Delta stating apprx 2 weeks and then others say that May needs to be over so we go into Ramadam....sorry for the confusion
**********
TEMTEM: Bernice- I agree!
**********
Zochowski: AFTERNOON "BERNICE N TEMTEM"
LET ME START BY SAYING, DO NOT LOOK AT THIS FROM A WESTERN WORLD VIEWPOINT.......
ALTHOU WE ARE TIED BY LAND N WATER BY THIS WORLD OF OURS,
THEY HAVE THIER MINDSET N FOLLOW ISLAMIC JUST AS WE HAVE OUR MINDSET N FOLLOW GREGORIAN..............
THAT SAID, THIS NEEDS TO BE TAKEN INTO CONSIDERATION, IMO........
ITS LIKE TIME.........IF YOU TRAVELED TO HAWAII, WHICH I THINK ARE 12 OR 16 DIFFERENCE FROM CENTRAL TIME ZONE HERE........DO YOU CONTINUE TO WORK N PLAY OFF CENTRAL TIME THERE OR SO YOU ADJUST TO THIER TIME????????????
IF YOU WENT TO INDIA OR AFRICA , WOULD YOU USE THIER CURRENCY OR OURS???? OR WOULD YOU USE AMERICAN EXPRESS N LET THEM WORK OUT THE EXCHANGE RATE, LOL LOL
TO CONTINUE, WHOS TO SAY THAT DR.S HAS NOT BEEN WORKING HIS FINGERS TO THE BONE SINCE FEBRUARY??????????
WHILE ABADI HAS BEEN DOING WHAT HE NEEDS TO DO.........THRU THE SAME TIME FRAME?????????
DONT FORGET:
THE TROOPS WERE PULLED OUT WHEN N BY WHO????
WHO FILLED THAT VOID N CAME BACK IN TO IRAQ??????
WHO DECIDED TO POINT THE FINGER AT DR.S??????
THIS IS LIKE THE CHILD WHO HAS BEEN TAUGHT ONE WAY N FOUR YRS LATER IS BEING TAUGHT A DIFFERENT WAY, BY A DIFFERENT PERSON.....
TAKES A WHILE...........N MIGHT NOT TAKE AS LONG AS YA ALL THINK....G/B M/Z
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