Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Sunday AM Chat 7-17-16 Part 2 of 2
rcookie says():Banks tend to calculate the capital buffer they hold by simply extrapolating figures from previous events, instead of using a forecast risk profile. The ICAAP should clearly distinguish between a company’s regulatory capital, its actual capital, and the capital it needs to hold for business purposes.
Using a newly developed ICAAP should provide firms with the best capital buffer required, and the best level of funds from stockholders. Risks are often considered by a bank, yet are not always reflected in strategic options and capital planning. ICAAP requires stress and scenario analysis to demonstrate risks at an enterprise level.
Firm managers must show that ICAAP is an integral part of its processes and demonstrate that senior management both supports and is engaged in the ICAAP. In addition, companies need to explain in detail how they will use the ICAAP as they move forward and how key risk indicators and economic capital indicators/assumptions can be updated and presented to the board of directors when required.
~~~
Chat Room Excerpts & Highlights
Dinar Updates Sunday AM Chat 7-17-16 Part 2 of 2
rcookie says():Banks tend to calculate the capital buffer they hold by simply extrapolating figures from previous events, instead of using a forecast risk profile. The ICAAP should clearly distinguish between a company’s regulatory capital, its actual capital, and the capital it needs to hold for business purposes.
Using a newly developed ICAAP should provide firms with the best capital buffer required, and the best level of funds from stockholders. Risks are often considered by a bank, yet are not always reflected in strategic options and capital planning. ICAAP requires stress and scenario analysis to demonstrate risks at an enterprise level.
Firm managers must show that ICAAP is an integral part of its processes and demonstrate that senior management both supports and is engaged in the ICAAP. In addition, companies need to explain in detail how they will use the ICAAP as they move forward and how key risk indicators and economic capital indicators/assumptions can be updated and presented to the board of directors when required.
~~~
ICAAP is still in its early stages—companies are being encouraged to embrace the process for the sake of their business rather than for purposes of regulation. Management should understand the positive benefits and strive, through ICAAP, to make the business more efficient and less risky.
magnetlady says():Yes that was powerful information yesterday, thanks rcookie
rcookie says():AND....THIS IS WHY THEY ARE ADDRESSING.......
rcookie says():Contacting a consultant to assist the CBI in upgrading the prudential regulations on “Liquidity” and “Capital Adequacy Ratio”;
rcookie says():LOOK FAMILIAR.......
rcookie says():Increasing the capital requirement of banks to ID 250 billion ($214 million), a level to which allprivate banks except one have increased their capital;
rcookie says to wmawhite():AND ALSO PART OF THE CBI STRATEGIC PLAN.....PAGE 7 BUSINESS OBJECTIVES...."SAFEGUARD THE FINANCIAL MAEKET AGAINST UNCERTAINTIES"....
rcookie says to subgirl():THE WORKSHOP IN SYRIA IS NEXT WEEK..
rcookie says():AND PAGE 8...."SAFEGUARD & SUPPORT THE LOCAL FINANCIAL MARKET WITH PROTECTION MECHANISMS".....
rcookie says():AND PAGE 15...."DEVELOP MONITORING...SUPERVISION & AUDITING PROCESSES AND PROCEDURES"...INCLUDING IMPLEMENTING A RISK ANALYSIS & MANAGEMENT DEPARTMENT......
rcookie says():CONSTITUTIONAL AMENDMENT AND REVIEW COMMITTEE NAMED TODAY.......THEY HAVE SET THE TABLE FOR THE PALIAMENT TO GET DONE WHAT THEY NEED TO.......
rcookie says():70 PLUS LAWS ON TABLE......INCLUDING ONES THAT INVOLVE CONSTITUTIONAL AMENDMENT....
rcookie says():9 MP'S READY TO HAVE IMMUNITY STRIPPED......
Bookumdano says to rcookie():What would they need to safeguard and protect if they were just going to stay at 1166. Or not enter the global economy.
rcookie says):EXACTLY.....WELL SAID....
Bookumdano says to rcookie():1166 is there current safeguard.
subgirl says to rcookie():this is going to be a very good week!!!! IMO :) cant wait and they already have done somuch!
subgirl says to rcookie():70 laws! WOW!!
graci says():70 more to pass?
wmawhite says to Bookumdano():Very good point.........one of the current safeguards is the lack of value. Banks outside of Iraq is no upside to accept (exchanging and holding) the IQD because of its value.
In other words, they do not see it as an asset to hold. So, as rcookie and you ask, what is there to safeguard unless...........?
subgirl says to wmawhite():(y) NICE :)
wmawhite says to graci():There are 70 proposed laws or amendments to pas...............they include a wide range of issues.
wmawhite says):outside of Iraq see no*
david334 says to rcookie():GN cookie could we address the possibility that the global tading of the dinar, led by Citibank, might require a gold backing initially to over come the markets general lack of awareness of the countries improved fundamentals.
Mr White has reffered to several "obsticles" being dealt with by Citi. that are holding up to the process. Not looking for you for an answer now, but that seems to be a focus for BGG and wmawhite.
ol lar says():3 new announcements on CBI about selling and buying forein currencies
ol lar says():o / left the company to broker the buying and selling of foreign currencies / BAGHDAD ( granted leave )
17/07/2016 To / sycophantic company to broker the buying and selling of foreign currencies / Najaf ( granted leave )
To / Bulaq company to broker the buying and selling of foreign currencies / Najaf ( granted leave )
ol lar says():no clue what that all means ,but ,oh well
ol lar says():guess means they can't operate anymore?
rcookie says():Economic pageThe parliamentary advocate economic dimensions of economic political tugging file
Ali Salman 9. 2016-07-17 The Commission invited the parliamentary economy and investment, the economic file dimensions, about political conflicts under the corridors of Parliament, stressing the need to provide adequate safeguards for the entry of foreign investors.
Answer truthfully, Committee member Najib said in a statement that "the country needs a term economic plans, freeing it from the financial crisis afflicting", stating that "activate the role of the private sector is also an important factor in stimulating the economy."
"The Government had adequate safeguards and appropriate atmosphere for foreign investors and companies to Iraq," adding that "it will be reflected positively on the country".
Najib stressed that "economic and investment file dimensions of tugging and political grandstanding that would reflect negatively on the financial crisis afflicting Iraq."
The Government has expanded through the years to activate the investment in the country side, by the General Investment Authority and its branches in other provinces, to revive the economy and contribute to the Elimination of unemployment through activation of giant investment projects in the country.
Read More : http://ift.tt/29H3IZg
rcookie says():PROVIDE ADEQUATE SAFEGUARDS FOR THE ENTRY OF FOREIGN INVESTORS...
rcookie says():Raise funds to extend the foreign banks operating in the capital of Iraq deadline
17-07-2016 06:40 PM Hits: 400 Orbit News -The Director General of the Department of banking and credit in the central bank Ihsan Shomran Yasiri, the extension of the period under which implements the decision to raise the foreign banks operating in Iraq 's capital to $ 50 million,
the first to raise capital to $ 25 million in two phases over a period will last until December 31 (December) of the current year. The second raise capital to $ 50 million during the period ending on December 31 of 2017.
He said al - Shammari said in a statement to «life», the Central Bank of Iraq was «announced the decision to raise the capital of foreign banks operating in Iraq to $ 50 million instead of 70 million, after the meetings of the governor« Central »on the Keywords with a delegation representing the Lebanese banks at a time former »,
pointing out that« the discussion touched on the possibility of facilitating the conditions to help the advancement of the duties of the Lebanese and foreign banks specifically, in contributing to the development of banking operations in the Iraqi market and to increase its ability to compete with the Iraqi banks in attracting economic activity size ».
He added that « the capital increase will allow the banks concerned to double its presence in the area of Iraq, by opening new branches and expand its lending and funding base.»
The minimum capital exact money to open a foreign bank in Iraq was $ 7 million. But the central bank felt that the advancement of the sector requires the lifting of foreign banks' capital in the form of position to work in the market, and intercepted a Lebanese banks on the decision to lift it to $ 70 million, because the Iraqi banking market is not conducive to profitability because of the security, political and economic conditions.
And it has applied to the central bank falls for his decision, but he refused, until the conclusion of negotiations to agree on an amount of $ 50 million in two phases.
Read More : http://ift.tt/29FBSk7;
magnetlady says():Yes that was powerful information yesterday, thanks rcookie
rcookie says():AND....THIS IS WHY THEY ARE ADDRESSING.......
rcookie says():Contacting a consultant to assist the CBI in upgrading the prudential regulations on “Liquidity” and “Capital Adequacy Ratio”;
rcookie says():LOOK FAMILIAR.......
rcookie says():Increasing the capital requirement of banks to ID 250 billion ($214 million), a level to which allprivate banks except one have increased their capital;
rcookie says to wmawhite():AND ALSO PART OF THE CBI STRATEGIC PLAN.....PAGE 7 BUSINESS OBJECTIVES...."SAFEGUARD THE FINANCIAL MAEKET AGAINST UNCERTAINTIES"....
rcookie says to subgirl():THE WORKSHOP IN SYRIA IS NEXT WEEK..
rcookie says():AND PAGE 8...."SAFEGUARD & SUPPORT THE LOCAL FINANCIAL MARKET WITH PROTECTION MECHANISMS".....
rcookie says():AND PAGE 15...."DEVELOP MONITORING...SUPERVISION & AUDITING PROCESSES AND PROCEDURES"...INCLUDING IMPLEMENTING A RISK ANALYSIS & MANAGEMENT DEPARTMENT......
rcookie says():CONSTITUTIONAL AMENDMENT AND REVIEW COMMITTEE NAMED TODAY.......THEY HAVE SET THE TABLE FOR THE PALIAMENT TO GET DONE WHAT THEY NEED TO.......
rcookie says():70 PLUS LAWS ON TABLE......INCLUDING ONES THAT INVOLVE CONSTITUTIONAL AMENDMENT....
rcookie says():9 MP'S READY TO HAVE IMMUNITY STRIPPED......
Bookumdano says to rcookie():What would they need to safeguard and protect if they were just going to stay at 1166. Or not enter the global economy.
rcookie says):EXACTLY.....WELL SAID....
Bookumdano says to rcookie():1166 is there current safeguard.
subgirl says to rcookie():this is going to be a very good week!!!! IMO :) cant wait and they already have done somuch!
subgirl says to rcookie():70 laws! WOW!!
graci says():70 more to pass?
wmawhite says to Bookumdano():Very good point.........one of the current safeguards is the lack of value. Banks outside of Iraq is no upside to accept (exchanging and holding) the IQD because of its value.
In other words, they do not see it as an asset to hold. So, as rcookie and you ask, what is there to safeguard unless...........?
subgirl says to wmawhite():(y) NICE :)
wmawhite says to graci():There are 70 proposed laws or amendments to pas...............they include a wide range of issues.
wmawhite says):outside of Iraq see no*
david334 says to rcookie():GN cookie could we address the possibility that the global tading of the dinar, led by Citibank, might require a gold backing initially to over come the markets general lack of awareness of the countries improved fundamentals.
Mr White has reffered to several "obsticles" being dealt with by Citi. that are holding up to the process. Not looking for you for an answer now, but that seems to be a focus for BGG and wmawhite.
ol lar says():3 new announcements on CBI about selling and buying forein currencies
ol lar says():o / left the company to broker the buying and selling of foreign currencies / BAGHDAD ( granted leave )
17/07/2016 To / sycophantic company to broker the buying and selling of foreign currencies / Najaf ( granted leave )
To / Bulaq company to broker the buying and selling of foreign currencies / Najaf ( granted leave )
ol lar says():no clue what that all means ,but ,oh well
ol lar says():guess means they can't operate anymore?
rcookie says():Economic pageThe parliamentary advocate economic dimensions of economic political tugging file
Ali Salman 9. 2016-07-17 The Commission invited the parliamentary economy and investment, the economic file dimensions, about political conflicts under the corridors of Parliament, stressing the need to provide adequate safeguards for the entry of foreign investors.
Answer truthfully, Committee member Najib said in a statement that "the country needs a term economic plans, freeing it from the financial crisis afflicting", stating that "activate the role of the private sector is also an important factor in stimulating the economy."
"The Government had adequate safeguards and appropriate atmosphere for foreign investors and companies to Iraq," adding that "it will be reflected positively on the country".
Najib stressed that "economic and investment file dimensions of tugging and political grandstanding that would reflect negatively on the financial crisis afflicting Iraq."
The Government has expanded through the years to activate the investment in the country side, by the General Investment Authority and its branches in other provinces, to revive the economy and contribute to the Elimination of unemployment through activation of giant investment projects in the country.
Read More : http://ift.tt/29H3IZg
rcookie says():PROVIDE ADEQUATE SAFEGUARDS FOR THE ENTRY OF FOREIGN INVESTORS...
rcookie says():Raise funds to extend the foreign banks operating in the capital of Iraq deadline
17-07-2016 06:40 PM Hits: 400 Orbit News -The Director General of the Department of banking and credit in the central bank Ihsan Shomran Yasiri, the extension of the period under which implements the decision to raise the foreign banks operating in Iraq 's capital to $ 50 million,
the first to raise capital to $ 25 million in two phases over a period will last until December 31 (December) of the current year. The second raise capital to $ 50 million during the period ending on December 31 of 2017.
He said al - Shammari said in a statement to «life», the Central Bank of Iraq was «announced the decision to raise the capital of foreign banks operating in Iraq to $ 50 million instead of 70 million, after the meetings of the governor« Central »on the Keywords with a delegation representing the Lebanese banks at a time former »,
pointing out that« the discussion touched on the possibility of facilitating the conditions to help the advancement of the duties of the Lebanese and foreign banks specifically, in contributing to the development of banking operations in the Iraqi market and to increase its ability to compete with the Iraqi banks in attracting economic activity size ».
He added that « the capital increase will allow the banks concerned to double its presence in the area of Iraq, by opening new branches and expand its lending and funding base.»
The minimum capital exact money to open a foreign bank in Iraq was $ 7 million. But the central bank felt that the advancement of the sector requires the lifting of foreign banks' capital in the form of position to work in the market, and intercepted a Lebanese banks on the decision to lift it to $ 70 million, because the Iraqi banking market is not conducive to profitability because of the security, political and economic conditions.
And it has applied to the central bank falls for his decision, but he refused, until the conclusion of negotiations to agree on an amount of $ 50 million in two phases.
Read More : http://ift.tt/29FBSk7;
rcookie says():He pointed banking expert Abdul Aziz Hassoun, that the Banking Act No. 94 of 2004, the Council pledged to ensure the foreign bank 's management , which allows building on the CBI request for funds to cover the obligations they impose on the branch in Iraq to exercise its banking ».
He explained that «includes one type of branches, which carry out work on its public administration and be fully responsible for financial commitments».
But it pointed out that the law «does not mention private capital branch at the time of the Iraqi Central Bank foreign banks committed to allocate the amount of seven million dollars as head of operating money for the branch.»
He announced that the Association of private banks in Iraq «discussed the decision», and warned that «capital request of section greatly weaken the strength of the commitment of its public administration responsibility to cover all the branch 's obligations, but the Iraqi Central Bank to raise capital to $ 75 million, and reduced again to 50 million ».
He said that it «will increase the vulnerability of public administrations commitments for branches of foreign banks and deviates from what is clearly aimed at the articles of the law, and perhaps the legal loopholes created by the weakness in the performance of obligations that exceed the limits set by the law for banks licensed in Iraq.»
Despite the diversity of Arab and foreign banks, officials in the sector saw, most of them do not have much capital , so work is limited on speculation in the currency auction process, to achieve quick profits will reflect negatively on the reality of the local market.
They declared that the files opened and owned by foreign and private banks, proved the existence of smuggling money out of the country, through daily deal with the central bank auction.
According to experts, the deposits in the operating banks in Iraq , whether governmental or civil amounting to 70 trillion dinars (about US $ 60 billion), while the total of Iraqi private banks' capital increased from $ 30 million in 2004 to one billion and 600 million end of 2014, except as branches owned by Arab and foreign banks operating in Iraq.
The number of private banks from 17 in 2004 also increased to 31 the end of 2014, while the number of its branches in Baghdad and the provinces has increased to more than 800, to compete in the number and level of services bank branches «Iraq» and «rational» government.
Read More http://ift.tt/29H33ap
Read More :http://ift.tt/29FC2HT
He explained that «includes one type of branches, which carry out work on its public administration and be fully responsible for financial commitments».
But it pointed out that the law «does not mention private capital branch at the time of the Iraqi Central Bank foreign banks committed to allocate the amount of seven million dollars as head of operating money for the branch.»
He announced that the Association of private banks in Iraq «discussed the decision», and warned that «capital request of section greatly weaken the strength of the commitment of its public administration responsibility to cover all the branch 's obligations, but the Iraqi Central Bank to raise capital to $ 75 million, and reduced again to 50 million ».
He said that it «will increase the vulnerability of public administrations commitments for branches of foreign banks and deviates from what is clearly aimed at the articles of the law, and perhaps the legal loopholes created by the weakness in the performance of obligations that exceed the limits set by the law for banks licensed in Iraq.»
Despite the diversity of Arab and foreign banks, officials in the sector saw, most of them do not have much capital , so work is limited on speculation in the currency auction process, to achieve quick profits will reflect negatively on the reality of the local market.
They declared that the files opened and owned by foreign and private banks, proved the existence of smuggling money out of the country, through daily deal with the central bank auction.
According to experts, the deposits in the operating banks in Iraq , whether governmental or civil amounting to 70 trillion dinars (about US $ 60 billion), while the total of Iraqi private banks' capital increased from $ 30 million in 2004 to one billion and 600 million end of 2014, except as branches owned by Arab and foreign banks operating in Iraq.
The number of private banks from 17 in 2004 also increased to 31 the end of 2014, while the number of its branches in Baghdad and the provinces has increased to more than 800, to compete in the number and level of services bank branches «Iraq» and «rational» government.
Read More http://ift.tt/29H33ap
Read More :http://ift.tt/29FC2HT
via Dinar Recaps - Our Blog http://ift.tt/29H2i14
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