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Banks' dividends in Covid-19 times

FSI Briefs No 6, May 2020. Regulatory actions in the current circumstances need to focus on preserving banks' lending activity without jeopardising their solvency. This means that flexibility in capital requirements, including through the use of regulatory buffers, and capital conservation should go hand in hand. Basel III provides for automatic distribution constraints when capital falls below specific thresholds. In the current context, this may disincentivise firms from following authorities' recommendations to use capital buffers. Blanket distribution restrictions imposed through supervisory action may help address these disincentives to the extent that they are not linked to firms' individual capital positions and thus remove any possible stigma effect. Most authorities have undertaken initiatives in relation to banks' distribution policies in the Covid-19 pandemic environment. However, practices across jurisdictions diverge markedly as regards scope and stringency.


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Releasing bank buffers to cushion the crisis - a quantitative assessment

Banks globally entered the Covid-19 crisis with roughly US$ 5 trillion of capital above their Pillar 1 regulatory requirements. The amount of additional lending will depend on how hard banks' capital is hit by the crisis, on their willingness to use the buffers and on other policy support. In an adverse stress scenario such as the savings and loan crisis, banks' usable buffers would decline to US$ 800 billion, which could support US$ 5 trillion of additional loans (6% of total loans outstanding). Yet in a severely adverse scenario, similar to the Great Financial Crisis, the corresponding figures would be only US$ 270 billion and US$ 1 trillion (1.3% of total loans).


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Bankruptcy and Winding Up.


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Bank of England: British economy could decline 14 percent

A Bank of England report said Thursday the British economy could fall as much as 14 percent this year, which would be its worst showing in more than 300 years.


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Bank of Melbourne, St George, BankSA internet banking services back online

Bank of Melbourne, St George and and BankSA customers should now be able to access their money online, but those still locked out of the system are advised to try the old remedy of switching their banking apps on and off again.


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Bank of REU/Grad Fair Questions

By Lucy Martinez and Eduardo Torres Davila We attended the Joint Math Meetings (JMM) conference in Denver to present our research from our work at the Mathematical Sciences Research Institute Undergraduate Program. At JMM, there was a fair of graduate … Continue reading


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Bank of REU/Grad Fair Questions


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Banks to ease cashflow pressure

The banking sector today launched a scheme to alleviate the cashflow pressure faced by corporate customers in light of the economic challenges brought about by the COVID-19 outbreak.

 

Jointly announced by the Monetary Authority and the Banking Sector SME Lending Coordination Mechanism, the Pre-approved Principal Payment Holiday Scheme is estimated to cover more than 80% of all corporate borrowers in Hong Kong.

 

All corporate customers that have an annual sales turnover of $800 million or less and with no outstanding loan payments overdue for more than 30 days are eligible for the scheme.

 

Eligible customers’ loan principal payments due within a six-month period between May 1 and October 31 this year will be pre-approved for deferment.

 

The loans’ principal payments, including revolving facilities, will generally be deferred by six months, whereas trade facilities, given their short-term nature, will be deferred by three months.

 

The scheme does not cover syndicated loans or loans used for financing purchases of shares or other financial assets.

 

Banks will begin informing eligible customers of the pre-approval under the scheme as soon as practicable. Eligible customers do not need to apply. They only need to contact the bank within 14 days of the bank’s notice to confirm the detailed arrangements.

 

The authority has issued a circular requesting all banks to participate in the scheme and has received support from all 11 major lenders in the co-ordination mechanism.

 

It will monitor the scheme’s operation and maintain close dialogue with banks.


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Banking that electric cars can also be cool, Ford introduces an all-electric Mustang

Ford Motor has unveiled the Mustang Mach-E, an all-electric sport utility vehicle that the company claims will have a range of at least 230 miles.


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Banks: Pain, fear and isolation. COVID-19 made his hospital stay even more surreal and sad

The public has been warned to avoid emergency rooms because of coronavirus cases. But staying home undoubtedly made my son-in-law's condition worse.


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Banking parallels

Nationalising a bank is a big deal. But it is not unprecedented. It is worth reading the history of Continental Illinois, nationalised by the US Federal Deposit Insurance Corporation in 1984. You can get the full story from the FDIC...


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Banks: L.A. schools chief Austin Beutner is performing admirably. But what comes after coronavirus?

Austin Beutner has moved quickly to confront the coronavirus crisis in L.A. schools. But the emergency will continue even after the virus fades away.


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Optimal Bailouts and the Doom Loop with a Financial Network -- by Agostino Capponi, Felix C. Corell, Joseph E. Stiglitz

Banks usually hold large amounts of domestic public debt which makes them vulnerable to their own sovereign’s default risk. At the same time, governments often resort to costly public bailouts when their domestic banking sector is in trouble. We investigate how the interbank network structure and the distribution of sovereign debt holdings jointly affect the optimal bailout policy in the presence of this "doom loop". Rescuing banks with high domestic sovereign exposure is optimal if these banks are sufficiently central in the network, even though that requires larger bailout expenditures than rescuing low-exposure banks. Our findings imply that highly central banks can use exposure to their own government as a strategic tool to increase the likelihood of being bailed out. Our model thus illustrates how the "doom loop" exacerbates the "too interconnected to fail" problem in banking.


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Bank Opens Fund To Help Balloon Crash Victims

For the second year in a row, the Albuquerque Balloon Fiesta was marked by the tragic death of a person in a balloon. Now, Wells Fargo Bank is trying to help the families of those at the center of this year's accident.
Wells Fargo opened the account for the families of pilots Keith Sproul and Stephen Lachendro, who were in the "Wings Of Wind" balloon when it hit a power line last Friday morning.
The gondola caught fire and separated from the balloon envelope, crashing to the ground.

Thieves made off with radios, computers and other items.
Wells Fargo has already donated $1,000 into the account to help the families deal with expenses surrounding the funeral, medical care costs and the break-in .
Donors who want to give to the account can contact Wells Fargo and should ask about donating to the Debbie Sproul account.


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Úroky národní banky jsou téměř na nule. ČNB chce pomoci ekonomice

Bankovní rada České národní banky ve čtvrtek snížila základní úrokovou sazbu o 0,75 procentního bodu na 0,25 procenta. Cílem snižování sazeb je zmírnit dopady šíření koronaviru na ekonomiku. Centrální banka to uvedla v tiskovém prohlášení.


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Bank of New Zealand Reduces Carbon Footprint with Red Hat on the Mainframe

red hat, open source, bank of new zealand, enterprise linux 5, system z, National Australia Bank Group, data center


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Bank of New Zealand partners with IBM to further advance its cross-channel fraud prevention

BNZ, one of the country’s leading banks announces it has selected IBM to deliver cross-channel fraud prevention to its customers. The multi-million dollar deal will support BNZ’s aim to provide its customers the ability to bank securely while delivering a positive customer experience.


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Bank of Montreal, CaixaBank, Commerzbank, Erste Group, IBM and UBS Collaborate to Advance an Open, Blockchain-based Trade Finance Platform

Bank of Montreal (BMO), CaixaBank, Commerzbank and Erste Group have joined an initiative launched by UBS and IBM in 2016 to build a new global trade platform based on blockchain technology. This new platform, called Batavia, is built to be openly accessed by organisations of all sizes anywhere in the world, and can support trade finance for transactions across all modes of trade, whether goods are being transported by air, land or sea.


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Bank Makes Positive Impact On Sports Field

Butterfield Bank employees spent last Friday afternoon [Sept 13] making a positive impact on Bernard’s Park with the addition of new waste bins for the sports field. As part of Butterfield’s Community Action Month, bank employees partnered with students from Impact Mentoring Academy to complete Keep Bermuda Beautiful’s [KBB]’s Artful Bins project. KBB executive director […]

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Banker Names Butterfield “Bank Of The Year”

International banking industry publication, The Banker, has named The Bank of Butterfield Aas the “Bank of the Year 2019” in Bermuda. This is the seventh year in a row that Butterfield has received the award. Butterfield also received the Bank of the Year 2019 award for the Cayman Islands; the fifth time it has received the […]

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Bank Of Butterfield’s 2019 Graduate Trainees

The Bank of N.T. Butterfield & Son Limited has announced its 2019 Graduate Trainees, with Kenya Thompson, Arjah Rogers, Leitonya Edwards and Khaleb Tota joining the Bank’s two-year graduate trainee programme that will prepare them for professional careers in the financial services industry. A spokesperson said, “The Butterfield Graduate Trainee Programme offers Bermudian university or […]

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Bank of Bermuda Foundation: 3 New Directors

The Bank of Bermuda Foundation has announced the appointment of three new Directors to its Board, including Lisa Howie, Dr. Julie Dunstan, and Christa Schweizer. A spokesperson said, “Earlier this year the Foundation ran a series of advertisements looking for members of the community interested in volunteering their time and expertise towards the philanthropic work […]

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Bank Of Butterfield Decreases Loan Rates

The Bank of Butterfield announced that, in step with the recent 25 basis point decrease in the US Federal Funds Rate, the Bank is decreasing its interest rates on personal loans and mortgages. “The base rate for Bermuda dollar residential mortgages and consumer loans will decrease by 0.25% to 5.25%,” a spokesperson said. “The rate decrease […]

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Banking Phishing Scam - Your StandardBank Cash Rewards Programme

Phishing scammers using UCount awards as bait to steal your Standard Bank Internet Banking login details.


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Banking Phishing Scam - Chase Alert(SM): Notice for your Account

A fake Chase e-mail that has PHISHING written all over it.


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Bank Draft Scam - TREAT AS URGENT

Follow-up e-mail from Hillary Ndubem, the new beneficiary of Mrs Ruth Mohammed's funds, as assigned by Barr. Katie Richardson.


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Banking Phishing Scam - ABSA Global business customers certificate update

Malware phishing scammers targeting ABSA customers with the ZBot Trojan.


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Banking Phishing Scam - Nedbank transaction notification #2410-779

Phishing scammers targeting Nedbank customers with malware.


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Bank Draft Scam - CONTACT DR HILARRY NDUBEM NOW

BARR. Katie Richardson wants you to contact DR HILARRY NDUBEM. Do not contact any of these swindlers... ever!


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BANK OF NEW YORK MELLON v. MAZZEO

(CT Court of Appeals) - AC 42180


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Banks out for remainder of Grey Cup with lower-body injury


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Banksy makes superheroes of NHS staff with new artwork

It seems famed street artist Banksy is particularly inspired by the challenge the coronavirus pandemic has presented humanity as he gifts a new artwork honouring the live-saving efforts of medical professionals to a British hospital.


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Banks putting mortgage payments on hold amid coronavirus

At least 1 million Australians are facing unemployment as a result of the coronavirus outbreak, and those with a mortgage are particularly worried. Here's some information on what the big four banks are doing.


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Bank of Queensland, Bendigo and Adelaide Bank sued by ASIC over 'unfair' contracts

The corporate regulator is taking the Bank of Queensland (BOQ) and Bendigo and Adelaide Bank to court for imposing "unfair" contract terms on their small business customers.


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Bank invests in stories to celebrate Mary Poppins author in regional Queensland

A former bank that was the birthplace of Mary Poppins creator P.L. Travers has been converted into a museum in Maryborough, Queensland, where it is hoped it will prove a drawcard for tourists.


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Banks trying to lock up your loan

It seems that banks and other lenders are doing their best to lock in our mortgages.


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Bank Of England Maintains Stimulus; Signals More Easing

The Bank of England maintained its key interest rate at a record low and refrained from unveiling additional quantitative easing, on Thursday, as the economic outlook remains uncertain due to the impact of the coronavirus, or Covid-19, pandemic. However, Governor Andrew Bailey kept the door open for further easing as the economy is set to contract the most in more than 300 years due to the lockdo


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Will Rotomac companies face liquidation?

Bank of India, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, Union Bank of India, and Bank of Maharashtra have jointly lent close to Rs 4,000 crore to the two Rotomac Group companies.


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Banknote processing device

A banknote processing device that stacks banknotes in a banknote storage section even when a jam occurs. The device has an insertion aperture, a verification section, the storage section and a controller. The aperture separates and feeds inserted banknotes. The verification section verifies the banknotes fed from the aperture. The banknotes are stacked in the storage section. The controller controls conveyance of the banknotes conveyed from the aperture to the verification section such that, depending on verification results, the banknotes are conveyed directly to the storage section. When a jam occurs during conveyance of the banknotes, the controller stops the separation and feeding of the banknotes from the aperture, and controls conveyance such that banknotes for which the storage section has been set as a conveyance destination by the verification section are conveyed directly to the storage section and banknotes for which no conveyance destination has been set are ejected.


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Banknote processing device

A currency note processing device has a deposit opening. A currency note recognition section recognizes unique information of a deposited currency. A currency note storage section accumulates the deposited currency notes. A transportation control section controls the transportation of the deposited currency note such that the currency note is transported directly to the currency note storage section, and when a return instruction for the deposited currency note is detected, controls the transportation of the deposited currency note from the currency note storage section to the currency note recognition section. A comparison section compares the unique information recognized at the time of the first transportation, from the deposit opening to the currency note recognition section, is compared to unique information recognized at the time of the second transportation, from the currency note storage section to the currency note recognition section.


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Banknote handling device and passing unit used therein

A banknote handling device includes a safe that protects banknotes (casing of a second unit), a first conveyance path externally provided to the safe, and a second conveyance path internally provided to the safe. The safe is provided with at least one opening portion through which the banknotes pass. A passing unit including a passing conveyance mechanism that passes a banknote between the first conveyance path and the second conveyance path and a left-behind sensor that detects a banknote that is left-behind, is detachably installed inside the opening portion of the safe.


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Banknote handling machine

In one embodiment, a banknote handling machine includes a recognition unit configured to recognize a kind of each banknote taken in a take-in unit, a plurality of stacking units, respectively configured to stack therein the banknotes, a transport unit configured to transport the banknotes, respectively recognized by the recognition unit, to any of the plurality of stacking units, an instruction accepting unit configured to accept an instruction concerning an automatic decision mode provided for deciding the kind of the banknotes to be stacked, by utilizing a recognition result obtained by the recognition unit, for each of the plurality of stacking units, and a control unit configured to control the transport unit to transport each banknote to a destination, which destination is decided based on the instruction accepted by the instruction accepting unit and on the recognition result obtained by the recognition unit.


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Bank notes handling apparatus

A paper sheet processing apparatus includes: an insertion slot through which a paper sheet is inserted; a sensor which detects insertion of the paper sheet; a traveling route through which the paper sheet is conveyed; a light emitting part which irradiates the traveling route with light; a light receiving part which receives light from the traveling route; a black calibration part which sets a reference value for the lowest brightness in a state that the emission of the light emitting part is ineffective; and an authenticity judgment processing part which judges an authenticity. The black calibration part can set the reference value before the authenticity judgment processing part judges the authenticity after the sensor detects the insertion of the paper sheet at every time when the paper sheet is inserted.


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Banknote processing device

A banknote processing device includes a differentiating section that differentiates banknotes, a temporary holding section that temporarily stores the differentiated banknotes, banknote storage containers that store the banknotes, and a conveyance route that connects the differentiating section, the temporary holding section, and the banknote storage containers. The processing device is constructed so that when the banknotes stored in the temporary holding section are sent out and stored in the banknote storage containers based on differentiation results of the banknotes by the differentiating section, the banknotes are conveyed from the temporary holding section via the differentiating section, and are stored in any one of the banknote storage containers, or the banknotes are conveyed from the temporary holding section, via a route that does not go through the differentiating section, and are stored in a specific one of the banknote storage containers.


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Banking apparatus controlled responsive to data bearing records

A banking system is controlled responsive to data read from data bearing records. The banking system includes an automated banking machine. The machine is operable to carry out a financial transaction for a person responsive to a determination that the person is an authorized user of the machine based on correspondence between identifying data read by a reader of the machine and data store information. The machine includes a check acceptor that is operative to receive checks from authorized machine users. The check acceptor is operable to continuously move a received check along its transport path while simultaneously rotationally orienting the check into alignment with the transport path. A check determined not to have at least one property of an acceptable check is returned to the machine user. Acceptable checks are processed and stored in the machine.


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Banking machine controlled responsive to data read from data bearing records

A banking system operates responsive to data read from data bearing records. The system includes an automated banking machine comprising a card reader. The card reader includes a movable read head that can read card data along a magnetic stripe of a card that was inserted long-edge first. The card reader includes a card entry gate. The gate is opened for a card that is determined to be properly oriented for data reading. The card reader can encrypt card data, including account data. The card data is usable by the machine to authorize a user to carry out a financial transfer involving the account.


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Banking of reliability metrics

In one embodiment, a processor includes at least one functional block and banking logic. The banking logic may be to determine an average reliability metric associated with the at least one functional block. The banking logic may also be to, if the average reliability metric exceeds a required level, implement a reduced reliability mode in the at least one functional block, where the reduced reliability mode is associated with a reduction in the average reliability metric. Other embodiments are described and claimed.


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Banks trying to lock up your loan

It seems that banks and other lenders are doing their best to lock in our mortgages.


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Banksy Drops Off Superhero Nurse Artwork at Hospital in UK With a Thank You Note

Banksy droped off an art piece that is inspiring the world with its superhero nurse theme, in gratitude to NHS Southampton General Hospital in England.

The post Banksy Drops Off Superhero Nurse Artwork at Hospital in UK With a Thank You Note appeared first on Good News Network.


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Is my money safe in a bank during the COVID-19 crisis?

Bank runs should not be a concern, thanks to the system that protects your deposits.


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