KTFA:
Don961: SDR bonds .....Hmmmmmmmmmmmmm
WB Plans SDR Bonds in China
World Economy Wednesday, July 27, 2016 - 02:00
The World Bank is planning to sell bonds in China denominated in the International Monetary Fund’s Special Drawing Rights, people familiar with the matter said, Bloomberg reported. The offering would be in China’s interbank note market, according to the people, who asked not to be identified.
Issuance of the securities may be as soon as next month, one of the people said. They would be the first in SDR from the lender. President Xi Jinping’s efforts to promote the yuan’s international usage culminated last year when the IMF added it to its benchmark basket of reserve currencies, making it part of the SDR effective October 1, 2016.
http://ift.tt/2acdPdL
Mountainman: As I have been Saying..........."NEW BEGINNINGS"........Beginning AUGUST 2016.........INDEED
Blessings,Mountainman (8)=New Beginnings........for A "MULTITUDE of THINGS".......
....
Don961: SDR bonds .....Hmmmmmmmmmmmmm
WB Plans SDR Bonds in China
World Economy Wednesday, July 27, 2016 - 02:00
The World Bank is planning to sell bonds in China denominated in the International Monetary Fund’s Special Drawing Rights, people familiar with the matter said, Bloomberg reported. The offering would be in China’s interbank note market, according to the people, who asked not to be identified.
Issuance of the securities may be as soon as next month, one of the people said. They would be the first in SDR from the lender. President Xi Jinping’s efforts to promote the yuan’s international usage culminated last year when the IMF added it to its benchmark basket of reserve currencies, making it part of the SDR effective October 1, 2016.
http://ift.tt/2acdPdL
Mountainman: As I have been Saying..........."NEW BEGINNINGS"........Beginning AUGUST 2016.........INDEED
Blessings,Mountainman (8)=New Beginnings........for A "MULTITUDE of THINGS".......
....
KTFA Cont…..
Don961: Wednesday, July 27, 2016 - 02:00
Deutsche Bank Future in Doubt
World Economy
Ahead of the European Banking Association’s stress tests, Deutsche Bank’s future seems shakier than ever. Some would even call Germany’s most important bank “dangerous”, DW reported.
With a record loss in the last year, rock-bottom share prices, every fourth branch shut down, and rumors of a split, the Deutsche Bank is more “zombie than champion”, according to The Economist. As if that weren’t bad enough, the International Monetary Fund labeled the bank the most dangerous bank in the world, because of all the systemic risk it brought to the international banking system—more than HSBC.
“Whether the German Bank is more dangerous than competitors like Goldman Sachs, HSBC, Morgan Stanley or Barclays, that’s hard to say,” said Martin Hellmich, a professor for risk management at the Frankfurt School of Finance & Management. Deutsche Bank’s balance sheet shows it has less capital than its competitors, he said.
Short Url : http://ift.tt/2ar1CPd
Mountainman: FAMILY......Keep Ones EYES On these REALITIES......For they are NOT Just In GERMANY, but HERE as Well........KEYWORD=RISK
As the "FALL" Approaches MANY RISKS will Arise In GLOBAL BANKING.......This is Simply A {PRECURSOR} of Coming Events.....IMO
Blessings,Mountainman (8)=New Beginnings........BEGINNING August 2016.......
**************
Don961: Not the pension funds !!! ... don't give American government any ideas ... they already "borrowed " from Social Security .. IMO
Wednesday, July 27, 2016 - 02:00
Italy Pension Funds to Support Bank Rescue Call
World Economy
Specialist Italian pension funds have agreed to a government call to invest in bad bank loans, as Rome works to build a safety-net around Italy’s No. 3 lender Monte dei Paschi ahead of the European bank stress test.
The Tuscan bank, which has one of the heaviest bad loan burdens in Italy, is likely to be found short of capital under an adverse scenario when results of the latest Europe-wide banking check-up are released on Friday night. Reuters reported.
In a bid to reassure the market, Italy is looking for ways to support its banks without breaking European Union state aid rules that would require investors to take a hit first.
AdEPP, the association of sector-specific pension funds, said on Monday a decision had been taken to support a new bank fund called Atlante 2. Each fund will need to approve the investment.
AdEPP chairman told Reuters the government had asked its members to invest in Atlante, which is working with Monte dei Paschi on the sale of bad debts worth a net €10 billion ($11 billion).
A source familiar with the matter said Rome had asked for a €500 million investment.
Atlante, hastily set up in recent months to help Italy’s weakest banks, has used more than half of its initial €4.25 billion endowment to take over two failing regional banks.
The source said the new fund would only invest in bad loans and not bank equity.
Problem loans totaling €360 billion after a three-year recession have become the focus of investor concerns over Italian banks, weighing heavily on their shares.
Sources have said Italian state lender Cassa Depositi e Prestiti is also ready to provide up to €500 million to the new Atlante fund. A similar amount would come from SGA, another treasury-controlled entity.
Selling Bad Loans
To comply with a request from European Central Bank supervisors to clean up its balance sheet, Monte dei Paschi last week submitted to the ECB a plan to sell its bad loans and is hoping for a green light by Friday.
Under the plan, Atlante would buy the bank’s loans from borrowers deemed insolvent in a complex scheme that aims to leverage fivefold the fund’s residual resources of €1.75 billion, sources have said.
Atlante is ready to buy the loans at a higher price than investors specializing in distressed assets would offer, but that would still be below the portfolio’s net book value, blowing a hole in the bank’s account and forcing it to raise capital.
A source close to the matter said Atlante would likely buy the loans at 30-32% of their nominal value, against a current valuation of 37% in the bank’s books.
Monte dei Paschi may struggle to raise cash at a time when sector profits are being squeezed by negative interest rates and poor asset quality. But EU state-aid rules have hampered Italy’s efforts to backstop Monte dei Paschi’s capital raising.
Monte dei Paschi shares, which have lost 76% this year, ended down 8.4% on Monday.
Short Url : http://ift.tt/2acejAy
Mountainman: As The "GLOBAL PENDULUM" Swings thru EUROPE/The EURO.....So goes the REST of THEM.......IN TIME/ING.....ASHES ASHES They {ALL} FALL DOWN......La la la la........{ALL} Roads LEAD to ROME........INDEED.........
This ARTICLE is SCREAMING At You.......w/ A NEW REALITY Coming this "FALL"..........IMO
Blessings, Mountainman (8)=New Beginnings.......for A NEW GLOBAL ANTHEM.......INDEED
Don961: Wednesday, July 27, 2016 - 02:00
Deutsche Bank Future in Doubt
World Economy
Ahead of the European Banking Association’s stress tests, Deutsche Bank’s future seems shakier than ever. Some would even call Germany’s most important bank “dangerous”, DW reported.
With a record loss in the last year, rock-bottom share prices, every fourth branch shut down, and rumors of a split, the Deutsche Bank is more “zombie than champion”, according to The Economist. As if that weren’t bad enough, the International Monetary Fund labeled the bank the most dangerous bank in the world, because of all the systemic risk it brought to the international banking system—more than HSBC.
“Whether the German Bank is more dangerous than competitors like Goldman Sachs, HSBC, Morgan Stanley or Barclays, that’s hard to say,” said Martin Hellmich, a professor for risk management at the Frankfurt School of Finance & Management. Deutsche Bank’s balance sheet shows it has less capital than its competitors, he said.
Short Url : http://ift.tt/2ar1CPd
Mountainman: FAMILY......Keep Ones EYES On these REALITIES......For they are NOT Just In GERMANY, but HERE as Well........KEYWORD=RISK
As the "FALL" Approaches MANY RISKS will Arise In GLOBAL BANKING.......This is Simply A {PRECURSOR} of Coming Events.....IMO
Blessings,Mountainman (8)=New Beginnings........BEGINNING August 2016.......
**************
Don961: Not the pension funds !!! ... don't give American government any ideas ... they already "borrowed " from Social Security .. IMO
Wednesday, July 27, 2016 - 02:00
Italy Pension Funds to Support Bank Rescue Call
World Economy
Specialist Italian pension funds have agreed to a government call to invest in bad bank loans, as Rome works to build a safety-net around Italy’s No. 3 lender Monte dei Paschi ahead of the European bank stress test.
The Tuscan bank, which has one of the heaviest bad loan burdens in Italy, is likely to be found short of capital under an adverse scenario when results of the latest Europe-wide banking check-up are released on Friday night. Reuters reported.
In a bid to reassure the market, Italy is looking for ways to support its banks without breaking European Union state aid rules that would require investors to take a hit first.
AdEPP, the association of sector-specific pension funds, said on Monday a decision had been taken to support a new bank fund called Atlante 2. Each fund will need to approve the investment.
AdEPP chairman told Reuters the government had asked its members to invest in Atlante, which is working with Monte dei Paschi on the sale of bad debts worth a net €10 billion ($11 billion).
A source familiar with the matter said Rome had asked for a €500 million investment.
Atlante, hastily set up in recent months to help Italy’s weakest banks, has used more than half of its initial €4.25 billion endowment to take over two failing regional banks.
The source said the new fund would only invest in bad loans and not bank equity.
Problem loans totaling €360 billion after a three-year recession have become the focus of investor concerns over Italian banks, weighing heavily on their shares.
Sources have said Italian state lender Cassa Depositi e Prestiti is also ready to provide up to €500 million to the new Atlante fund. A similar amount would come from SGA, another treasury-controlled entity.
Selling Bad Loans
To comply with a request from European Central Bank supervisors to clean up its balance sheet, Monte dei Paschi last week submitted to the ECB a plan to sell its bad loans and is hoping for a green light by Friday.
Under the plan, Atlante would buy the bank’s loans from borrowers deemed insolvent in a complex scheme that aims to leverage fivefold the fund’s residual resources of €1.75 billion, sources have said.
Atlante is ready to buy the loans at a higher price than investors specializing in distressed assets would offer, but that would still be below the portfolio’s net book value, blowing a hole in the bank’s account and forcing it to raise capital.
A source close to the matter said Atlante would likely buy the loans at 30-32% of their nominal value, against a current valuation of 37% in the bank’s books.
Monte dei Paschi may struggle to raise cash at a time when sector profits are being squeezed by negative interest rates and poor asset quality. But EU state-aid rules have hampered Italy’s efforts to backstop Monte dei Paschi’s capital raising.
Monte dei Paschi shares, which have lost 76% this year, ended down 8.4% on Monday.
Short Url : http://ift.tt/2acejAy
Mountainman: As The "GLOBAL PENDULUM" Swings thru EUROPE/The EURO.....So goes the REST of THEM.......IN TIME/ING.....ASHES ASHES They {ALL} FALL DOWN......La la la la........{ALL} Roads LEAD to ROME........INDEED.........
This ARTICLE is SCREAMING At You.......w/ A NEW REALITY Coming this "FALL"..........IMO
Blessings, Mountainman (8)=New Beginnings.......for A NEW GLOBAL ANTHEM.......INDEED
WingIt:
CoffeeOne: Would some explain the last part of Bluwolf post, please? Bluwolf 7-27-16
Mally: COFFEE~~44 IS, OF COURSE, OBAMA~~IMO, IF 44 THINKS HILLARY IS NOT GOING TO "WIN"~`HE WILL RELEASE THE GCR SO THAT THE DEMS GET CREDIT, ONCE AGAIN~~LIKE THEY DID FOR KUWAIT~~
BUT IMO HE WILL NOT "WAIT" THAT LONG~~OR, I SHOULD SAY, THE WORLD WILL NOT WAIT THAT LONG, IMO
GJHonor: On wsomn post on recaps some are saying at lease 7 weeks away from teh change in value iho sure hope he is wrong .RaginCajun….. That is the timing Dr Clarke has been saying also??
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WSOMN:
Scotchie: No idea what Bluwof is insinuating
RaginCajun: SCOTCHIE-(IMO) HE IS SAYING 44 IS OBAMA, H IS HILLARY, IF 44 FEELS H CAN NOT WIN, HE WILL RELEASE THE GCR SO THE DEMS GET THE CREDIT
************
NWMontana: Will RBI let rupee appreciate?
A stronger rupee, when redemptions begin, would reduce the blow, even if there is some depreciation due to outflows, say experts
With the redemption of $20 billion FCNR(B) coming up between September and November, market people believe the Reserve Bank of India (RBI) might allow the rupee to appreciate in the run-up. The reason: While the central bank gave the rupee debt to banks at 3.5 per cent, it bought forward contracts for the same at about seven per cent. This means RBI would have to take the hit on the difference, when the redemptions occur.
A stronger rupee, when redemptions begin, would reduce the blow, even if there is some depreciation due to outflows, say experts. Banks had raised a total of $34 billion in the September-November 2013 period using a discounted swap window opened by RBI to shore up reserves and protect the vulnerable rupee. Around $27 billion came through FCNR(B) deposits
http://ift.tt/2a5ET8D
NWMontana: Did you guys read the article about the rupee? Check out the wording
Meek92: NWM good post...so are you thinking RV in July and trickle to Sept-November?..
NWMontana: MEEK- 10-4….. meek...I was mostly struck by the casualness of the article, the date falls in line with a prolonged currency rollout, imo. : )
Some folks think it happens in baskets, others, like rolling out a carpet...either way, they said "When", not "if"
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TNT:
GreatlyBlessed: IMF and China Accelerate Creation of New Global Reserve Currency.....http://ift.tt/2acdM1B
via Dinar Recaps - Our Blog http://ift.tt/2ar28gg
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