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Keyword: bailin

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  • Greek banks prepare plan to raid deposits to avert collapse

    07/03/2015 5:53:34 PM PDT · by House Atreides · 85 replies
    FT.com ^ | July 3, 2015 | Kerin Hope
    Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday. The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.
  • Greek Banks Considering 30% Haircut On Deposits Over €8,000: FT

    07/03/2015 4:58:13 PM PDT · by dynachrome · 32 replies
    zerohedge.com ^ | 7-3-15 | Zero Hedge
    Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said. A Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customers’ funds were seized to shore up the banks, with a haircut imposed on uninsured deposits over €100,000. Meanwhile, Yanis Varoufakis swears this is nothing but a "malicious rumor": FT report of a Gk Bank Bail In is a malicious rumour...
  • [Australia]set to introduce tax on bank deposits

    03/30/2015 9:40:27 AM PDT · by Lorianne · 26 replies
    ABC ^ | 28 March 2015
    The idea of a bank deposit tax was raised by Labor in 2013 and was criticised by Tony Abbott at the time. Assistant Treasurer Josh Frydenberg has indicated an announcement on the new tax could be made before the budget. The Government is heading for a fight with the banking industry, which has warned it will have to pass the cost back onto customers. Mr Frydenberg is a member of the Government's Expenditure Review Committee but has refused to provide any details
  • MUST READ:Global Bail-In Plan Could Still Leave Taxpayers Holding the Bag

    03/10/2015 6:03:55 PM PDT · by RaceBannon · 12 replies
    American Banker ^ | MAR 4, 2015 10:00am ET | CHRISTOPHER WHALEN
    BEWARE OF THE BAIL_IN The Government tells the banks to grab your assets to fill their coffers when they are insolvent, the way they took GREECE money The Banks are going to call YOUR money UNSECURED DEBT Now, Look at the first paragraph: http://www.americanbanker.com/bankthink/global-bail-in-plan-could-still-leave-taxpayers-holding-the-bag-1073068-1.html
  • WARNING Bank Deposits Will Soon No Longer Be Considered Money But Paper Investments

    11/16/2014 7:23:09 PM PST · by dontreadthis · 88 replies
    Economic Policy Journal ^ | NOVEMBER 13, 2014 | Kenneth Schortgen Jr
    This weekend the G20 nations will convene in Brisbane, Australia to conclude a week of Asian festivities that began in Beijing for the developed countries and major economies. And on Sunday, the biggest deal of the week will be made as the G20 will formally announce new banking rules that are expected to send shock waves to anyone holding a checking, savings, or money market account in a financial institution. On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding...
  • Caveat, investor: Now feds want a bite of your mutual fund

    10/02/2014 5:59:33 PM PDT · by TurboZamboni · 16 replies
    The Citizen ^ | 9-4-14 | Paul S. Atkins
    To oversee this process, Dodd-Frank created the Financial Stability Oversight Council (FSOC), made up of the heads of the financial services regulatory agencies. The council claims very broad power to designate certain activities (like asset management) or companies and products (including mutual funds) as systemically important and subject them to Federal Reserve bank-style regulation, including leverage and capital requirements. And the council is doing just that – first with banks, then insurance companies and now, potentially, mutual funds. President Obama’s “independent” insurance expert on the council issued a blistering dissent when it designated Prudential – the nation’s second-largest life insurer...
  • The Next Bank Meltdown Won't Be An "Accident"

    04/22/2013 1:52:07 PM PDT · by blam · 10 replies
    Money Morning ^ | 4-22-2013 | Shah Gilani
    The Next Bank Meltdown Won't Be An "Accident" By Shah Gilani, Capital Wave Strategist, Money Morning April 22, 2013Big banks turned in a pretty stellar first quarter. All but one beat profits expectations. But as I told you last week, I'm now out of these stocks completely. Do you want the truth about what shape banks are in right now? Sure you can handle it? I'm sorry; I can't tell you the truth. Regulators can't tell you the truth. And the Federal Reserve won't tell you the truth. No one can tell you the truth. That's because banks don't tell...