Most of the real estate excluded from borrowers who have taken a mortgage loan, the banks are holding, waiting for prices on the real estate market. About this newspaper Latvijas AvD «ze. Sell ??real estate now is unprofitable because of the lack of recovery in the market. As acknowledged by experts interviewed by the publication of the proposal for the sale of apartments, private houses and plots of land far exceeds the demand, and the number of deals in the market is very small. Banks say that the disposal of subsidiaries set up to purchase "troubled" properties, gets only a small fraction of objects that are selected from borrowers, not coped with the repayment of the loan. Representatives of banks complain that the special auctions, which sold off the property of debtors, are disadvantageous for two reasons. Firstly, the starting price of auctioned objects are usually 30-40% below its market value. Second, to conduct similar auctions harms the reputation of banks, especially in cases where the auctioneer is the sole property of the borrower's housing problem. According to representatives of banks, such borrowers are usually trying to resort to other solutions, not related to the auction. One option is as follows: The bank takes the apartment itself, and its former owners still live there, pay the bank to pay rent and utility bills. Source: rus.DELFI.lv
Tuesday, November 1, 2011
The British will take part in the revolution of mobile payments
Company Barclaycard and network operator Everything Everywhere gathered this summer to launch a joint project. This will be the first UK commercial system of contactless mobile payments. Both companies said they are working on the production of an unnamed phone model that will allow the British to make micropayments in retail outlets. To do this would be enough to hold the handset near a special reader terminal. Currently, the networks of retail stores such as Pret a Manger, Eat, Little Chef and Co-Op, there are about 40 thousand terminals. Also in circulation is about 11 million contactless cards, most of which are released Barclaycard and Barclays. The move is part of the strategic partnership signed in 2009 between the companies Barclaycard and Orange (which, together with T-Mobile has teamed up for service Everything Everywhere). Themselves partners assess their cooperation more than modestly: "the biggest revolution in payments since the emergence of credit cards 40 years ago." Partners use the approach to payments based on the verification of SIM-cards. According to them, it must fully secure transactions and personal data of their customers. MasterCard will provide payments to the French vendor Gemalto. This company is responsible for the service Trusted Service Management, owned by Barclays. Although such systems appear for many years, Gerry McQuaid (Gerry McQuade), chief development manager of Everything Everywhere, called the upcoming launch of the project "a revolution in how people pay for things." According to him, this is a "cultural shift, as the first credit card or ATM, as I will speak for many more years." David Chan (David Chan), Managing Barclaycard Consumer Europe, responded more figurative, but no less pathetic: "I believe that future generations will be surprised that at the beginning of this century we still carry separate items needed for communication and shopping .
China's banks raise rates in order to please the authorities
Some Chinese banks have dramatically increased the interest rates on loans, obeying orders of the government to limit credit growth after the new jump in the beginning of the year, reported the state newspaper China Securities Journal on Wednesday. In the instructions, orders from the head office in some banking division, said that banks should strictly adhere to the credit of quotas in January, the newspaper said. Regulators require the normalization of credit activity in the campaign against inflation. Despite the fact that consumer price inflation fell in December to 4.6 percent per annum, many analysts expect that in January it will be the highest in more than two years, and warned that excessive bank lending will exacerbate the problem. The newspaper China Business News today reported that since the banks have already issued a credit to 1.2 trillion yuan ($ 182 billion), representing 17 per cent quota fixed by the authorities to fly in 2011. From the beginning, the banks are torn between conflicting desires. On the one hand, they want to quickly give more credit to capture a significant share of lucrative credit business, before the government would tighten policy again. On the other hand, they fear to act so aggressively, so as not to provoke a test or even punishment from the authorities. China Securities Journal writes that banks are now trying to stop the excessive lending. "To ensure that the credit crunch will not exceed the quota, head office ordered that all branches have raised interest rates", - quotes the newspaper quoted an anonymous representative of a large state-owned banks.
NBU forecasts in 2011, keeping core inflation within single-digit
The objectives of the NBU in 2011, is to keep the level of core inflation within single-digit in 2010, says in a statement the Director General, Economic Department, I. Shumilo on "Assessment of the macroeconomic situation and prospects for 2011." Just the NBU in 2011, predicts the decline in core inflation below the single-digit in 2010, despite the content of the official measure of inflation at a relatively high level. Estimated the NBU in 2011 will reduce the overall consumer price index (CPI) to a level no higher than 5% in the medium term. Source: RBC-Ukraine
Britain and the Netherlands want to sue Iceland 4 billion euros
The British and Dutch governments are preparing to initiate legal action against Iceland to recover from it 4 billion euros were lost due to the collapse of Icelandic banking system This soobschpet BBC. United Kingdom and the Netherlands paid 5 billion euros to its citizens to keep money in savings accounts Icesave Icelandic bank Landesbank, bankrupt in 2008. On the last Saturday in a referendum Icelanders again voted against providing compensation to those countries. Iceland's largest bank, Landsbanki, in 2006-2008 attracted large deposits under the program, offered to investors from the UK and the Netherlands to open savings accounts with extremely favorable to European annual interest rate - 5,0%, which was subsequently increased to 5.25% . However, in October 2008, Landsbanki has faced significant financial difficulties in gaining momentum worldwide economic crisis has been declared bankrupt and was placed under state control. The Bank's activities were suspended and more than 400 thousand depositors in the six-eight weeks could not withdraw their funds from the accounts. As a result, experts estimate that bank customers had lost from 3.8 to 5 billion euros. Britain responded with a strongly worded statement to the authorities of Iceland and has used anti-terrorism legislation to freeze assets of Landsbanki in the UK. Relations between the two countries has significantly increased. In turn, the European Commission has warned that failure to pay compensation to depositors of Icelandic banks could have negative consequences for the ambitions of Iceland regarding EU membership.
NBU sold Jan. 24 bank certificates of deposit to 101 million hryvnia
On-quo-nal-LIMITED Bank are not del nick, 1924 Yan-va-series, gave the pro-ban-kam their de-of-sum-nye ser-ti-fi-ka- you're on about-schuyu a sum of 101 million gris-veins. On it-on-schil On-quo-nal-LIMITED Bank. National Bank for re-gu-li-ro-va-of-view of the face-but-STI banks' model-bi-li-band shaft average properties of PU-order pro-ve-de-of ten-de Mr. at once-me-slit Niya de-a-sum-GOVERNMENTAL ser-ti-fi-ka-Comrade NBU SRO-room for 2 days at the average non-weighted-shen-term pro-cents-term, becoming Re 0.2% a year-to-O 2-kam ban on a sum of 46 million gris-veins and SRO-com for 14 days on average non-weighted-shen-term pro-cents-term becoming-ke 2, 0% second-to-O 2-kam ban on a sum of 55 million gris-veins. As with the ob-schA-lo-proof agent, the NBU 21 Jahn-va-series gave the pro-ban-kam their de-of-sum-nye ser-ti-fi-ka-you to the on-schuyu a sum of 111 million gris-veins. In the co-on-wet accordance with paragraph 2.6 that chap you have 2 on-lo-well-of a re-gu-li-ro-va-Research Institute of National-Bank-com face-kind-but-STI banks Cove Ukra-and-Ny, assertion-nym in a hundred-new-le-ni-it of its rights-of-le of 30 up-re-la 2009, the da № 259, according to pro-cents-nym ten de-frames are just-me-slit Niya de-a-sum-GOVERNMENTAL ser-ti-fi-ka-Comrade ban-ki sa-mo-hundred-i-tor-no pre-la-ha-exist about -cent-ing becoming-ku. In de-cab-re-quo on Renal-LIMITED Bank for re-gu-li-ro-va-of-view of the face-but-STI banks' model-bi-li-ZO-shaft (with-drew) assets of banks on about-schuyu a sum of 11 230 000 000 gris-veins.
Profits of Russian banks in two months amounted to 79.2 billion
Profit of the banking sector in Russia (excluding Sberbank) in January-February 2011 amounted to 79.2 billion rubles, the director of the department of licensing and financial rehabilitation of credit institutions the Central Bank of Russian Federation Mikhail Sukhov at the Russian Economic and Financial Forum in Switzerland. According to him, this figure is substantially higher performance of the banks in the same period last year, said RIA Novosti. "This suggests that the banking sector went on a stable operating margins," - said Sukhov. He noted that this fact also confirms the increase in the size of reserves of credit institutions, which in January and February added 17.5 billion rubles. According Sukhova, Russian banks' assets (excluding Sberbank) increased by 1,9%. By February, their growth was 15,9%. The positive dynamics of the credit portfolio amounted to 0.4% in February, on an annualized basis - 15%. Deposits in banks increased in February by 1.7% and year on year - on 32,9%. Thus, the growth rates of assets and loans is currently in 1,5-2 times higher than inflation, summed Sukhov. Today, Sberbank reported on the financial performance for the first 2 months of 2011. Net profit for January-February this year amounted to 52.8 billion rubles, as against 24.4 billion rubles in the same period a year earlier. The bank's assets in January-February 2011 have changed slightly and amounted to 8.549 trillion rubles. Source: BFM.Ru
Expert Market: the transition to IFRS will increase the transparency of the banking system
Ministry of Finance prepared a draft law "On Amendments to Certain Legislative Acts of Ukraine on issues of accounting," which proposes to oblige the banks and insurance companies to file Financial Reporting under IFRS. Andre Varmut, board member of the Bank's Financial Management Forum Commerzbank Group, spoke about the pros and cons of potential changes: "If the initiative of the Ministry of Finance will lead to the adoption of the bill, which clearly would force the Ukrainian banks transparently, accurately and honestly report under IFRS, we certainly welcome this development. In this direction for several years running and the NBU, trying to bring accountability standards UAGAAP to IFRS, and this activity, we also welcome as a useful, albeit still imperfect attempt to increase the transparency of the banking system. So far, such efforts amounted to the adoption of acts who had mixed interpretations, and a significant number of exceptions, which are a result of not contributing to a real increase of transparency of the system. It is necessary that the bill is real and not declaratively requires banks to report under IFRS. and that the results have not been that banks have confirmation of the external auditor's report, who are supposed to be in accordance with IFRS, but in reality it is not. It is crucial to align with the new law and tax law. Unfortunately, the reality is that some players are not interested to file IFRS financial statements, because there is so called the embellishment of the balance.
Bidding on the dollar on the interbank market opened in the range 7,9515-7,9585 UAH / USD. Euro - 10,8898-10,9153 grn / euros
Trading on the dollar in the interbank foreign exchange market opened, and at 11:08 are in the range - 7,9515-7,9585 UAH / USD. According to the company InterBiznesKonsalting, trades on the euro were opened in the range 10,8898-10,9153 UAH / EUR, trading in ruble - 0,2680-0,2682 UAH / USD.
AUB: The new leadership of the NBU has strengthened the hryvnia
Thanks to the constructive work and efforts of the new team of the National Bank, managed to secure the adoption by the Verkhovna Rada the bill "On amending the Law of Ukraine" On collecting the mandatory state pension insurance ", which reversed the fee for transactions of purchase and sale of non-cash currency. This was reported Press Service of the Association of Ukrainian Banks. "Adoption of this law immediately found its positive image: led to an increase in the supply of foreign currency in the interbank foreign exchange market. This helps to stabilize hryvnia exchange rate against foreign currencies on the interbank market ", - said AUB President Alexander Sugonyako. Recall, 13 January 2011 the Verkhovna Rada of Ukraine has a basis and a whole bill on the abolition of duty on obligatory state pension insurance with the purchase transactions and sale of non-cash currency. The bill № 7534 from 04.01.2011r. supported by 248 out of 365 deputies registered in the session hall. January 27, 2011 the President of Ukraine Victor Yanukovich signed the law. The materials FINANCE.UA