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Keyword: deposits

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  • HSBC to charge for holding deposits

    05/20/2015 9:27:06 AM PDT · by Enlightened1 · 12 replies
    Financial Times ^ | 05/20/15 | James Shotter and Laura Noonan
    HSBC has become one of the biggest global banks to say it will begin charging clients on deposits in a basket of European currencies The decision underlies the extraordinary measures banks are taking to prevent their profit margins being crushed in the record low-interest rate environment. HSBC has written to other banks to warn it will start charging them for deposits in euros, Swiss francs, Danish krone and Swedish krona — all currencies of countries that have negative interest rates — at its UK, German and Hong Kong operations from this summer. It is the first UK bank to announce...
  • [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
  • FDIC retreats on Operation Choke Point?

    01/30/2015 9:17:46 AM PST · by right-wing agnostic · 3 replies
    The Volokh Conspiracy ^ | January 29, 2015 | Todd Zywicki
    In what seems to be a retreat from its Operation Choke Point initiative, the FDIC has announced new regulatory guidance that instructs banks to judge their relationships with their customers on a case-by-case basis, rather than refusing to provide banking services to entire categories of industries. From the Press Release: The Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter today encouraging supervised institutions to take a risk-based approach in assessing individual customer relationships, rather than declining to provide banking services to entire categories of customers without regard to the risks presented by an individual customer or the financial...
  • Greek Deposit Outflows Soar In Run-Up To Syriza Victory

    01/25/2015 7:12:17 PM PST · by SeekAndFind · 16 replies
    Zero Hedge ^ | 01/25/2015 | Tyler Durden
    Despite all the fear-mongering by Nea Demokratia (ND), Syriza's victory over the incumbent is dramatically larger than expected (exit polls indicate a potential 12 point margin vs 7 point spreads in the run-up). However, as JPMorgan details, the fear-mongery was very evident in bank deposit runs as proxied outflows surge EUR8 billion last week - more than all of December and the rest of January combined...Via JPMorgan Flows & LiquidityGreek deposit outflows rise sharply this week The monthly Bank of Greece balance sheet data for the month of December revealed a significant increase in Greek bank ECB borrowing which...
  • EU finance ministers approve Cyprus bailout deal, funded by bank assets seizure

    03/25/2013 9:06:05 AM PDT · by redreno · 43 replies
    foxnews ^ | March 25, 2013 |
    magine waking up to find out that as much as 40 percent of the money you thought was safely deposited in the bank was seized, without your permission, to bail out a near-bankrupt government. That's just what thousands of large depositors in Cyprus woke up to Monday morning after European Union officials accepted a last-minute deal offered by the island's lawmakers to secure a $13 billion bailout to avert imminent financial meltdown.
  • Cyprus Deal Reached - Deposits Above EU100k to be Taxed "Heavily." Russia? Russia?

    03/24/2013 5:11:10 PM PDT · by whitedog57 · 18 replies
    Confounded Interest ^ | 03/24/2013 | Anthony B. Sanders
    <p>High level meetings are happening among the Eurogroup leadership and Cyprus, according to That is, Northern Europe wants to bail out Cyprus, but under pretty stiff conditions. Cyprus wants a bailout, but without any conditions. Russians want a bailout of Cyprus and its banks, but wants Northern Europe to pay for it.</p>
  • Loss of Confidence: Currency Hoarding and the Crash in Homeowner Equity

    12/23/2012 9:19:58 AM PST · by whitedog57 · 24 replies
    Confounded Interest ^ | 12/23/2012 | Anthony B. Sanders
    As we rapidly approach Christmas and the Holiday Season, it will be interesting to see what happens to checking account and credit card balances after it is over. It is interesting to note the surge in demand deposits at commercial banks since the end of 2008. A similar measure, Total Checkable Deposits (TCDSL), has also surged. Between anemic GDP growth and the rapid growth in bank deposits (at incredibly low deposit rates), it is no wonder that M2 Money Velocity is dead. Of course, the crash of the housing market and the loss of consumer confidence in the economy may...
  • Small banks, big problems (Is it OK if the top 5 banks have nearly 40% of all deposits?)

    12/23/2009 1:28:08 PM PST · by SeekAndFind · 6 replies · 397+ views
    Fortune ^ | 12/23/2009 | Colin Barr
    The New Year is shaping up to be a rough one for community lenders. Dozens if not hundreds of small banks figure to disappear in 2010, as a weak economy and regulatory pressure lead to more failures and mergers. President Obama met Tuesday with eight community bank executives, including the chiefs of German American Bancorp (GABC) and Monadnock Bancorp. Obama hailed the bankers as playing a "vital function," and cited "enormous opportunities" for economic growth if they keep lending. The community bankers surely made for a more receptive audience than the big-bank CEOs Obama addressed last week. Small-business lending, after...
  • Are Bank Safe Deposit Boxes Safe? No

    11/02/2009 7:31:28 PM PST · by blam · 23 replies · 1,991+ views
    The Market Oracle ^ | 11-2-2009 | David Vaughn
    Are Bank Safe Deposit Boxes Safe? No Commodities / Gold & Silver 2009 Nov 02, 2009 - 06:02 PM By: David_Vaughn Got a lot of email when I suggested that safe deposit boxes are not safe from bank or government intrusion. In most minds the “safe deposit box” is the “holy grail.” Our comfort will always be OK as long as our safe deposit box remains safe from others ill intent. Noticed the last few years how the Swiss Banks are no longer confidential places for one to store anything of value? The US government has applied pressure on Switzerland...
  • U.S. may need to insure wholesale deposits: Barclays Capital

    11/13/2008 8:09:35 AM PST · by BGHater · 4 replies · 339+ views
    Reuters ^ | 13 Nov 2008 | Saeed Azhar
    The United States may need to insure wholesale deposits to ease the credit crisis and restore confidence because the collapse of Lehman Brothers has damaged trust among institutional investors, Barclays said on Thursday. "What happened in September was the wholesale equivalent of an old fashioned bank run," Laurence Kantor, head of global research at Barclays Capital, told reporters in Singapore. "The markets are still unwinding the damage from Lehman." He said the commercial paper market lost $200 billion in two weeks after Lehman collapsed as investors turned to safer government paper, and even after two months private investors are still...
  • How Much Uninsured Deposits Are At Risk?

    07/15/2008 10:11:23 AM PDT · by BGHater · 6 replies · 372+ views
    Mish's Global Economic Trend Analysis ^ | 15 July 2008 | Mish Shedlock
    Five banks have gone into receivership this year, the latest of which is IndyMac which became the largest OTS-regulated savings and loan to fail and second-biggest financial institution to close behind Continental Illinois in 1984, according to the FDIC. Nonetheless, the FDIC is very fond of saying "No saver has ever lost a dime in federally insured deposits." That's fine and dandy but inquiring minds are looking ahead and asking "How much uninsured money is at risk, not just at IndyMac but in the entire system?" It's a good question, but first let's dig a litter deeper into what is...
  • Unclaimed Money

    03/06/2006 6:00:46 PM PST · by txroadkill · 3 replies · 295+ views
    Unclaimed Property ^ | 3/6/06 | me
    Our Association consists of state officials charged with the responsibility of collecting and reuniting lost owners with their unclaimed property. This site was developed by state unclaimed property experts to assist you - free of charge - in your efforts to search for funds that may belong to you or your relatives. If you are ready to begin looking for possible lost assets, select the "Find Property" link on the left side. If you have questions about unclaimed property, we invite you to go to the other sections of our site using the navigation links at the side and top...
  • Taipei 101 declared world's tallest building

    12/31/2004 7:15:54 PM PST · by aculeus · 32 replies · 2,157+ views
    The Guardian (UK) ^ | January 1, 2005 | by Justin McCurry in Tokyo
    It resembles a giant bamboo shoot, can carry people more than a kilometre skyward in less than 40 seconds, and yesterday it was officially declared the world's tallest building. The 508 metre tall building in Taipei's Hsinyi district is 56 metres taller than the previous record holder, the Petronas Towers in Kuala Lumpur. The opening of Taipei 101 - a reference to the number of floors - was attended by local dignitaries keen to bask in the glory of one of Asia's most ambitious engineering projects ever. As an opera company entertained the crowd, the world's fastest passenger lifts whisked...
  • Lunar base options divide experts

    04/06/2004 6:19:06 AM PDT · by Momaw Nadon · 10 replies · 426+ views
    BBC News Online ^ | Monday, April 5, 2004 | By Dr. David Whitehouse
    Scientists are divided about the use of the Moon as a base to develop ways to travel to Mars, according to reports given to the US government. Some have said the possibility of water-ice existing at the lunar poles would allow a moonbase to use the ice as rocket fuel for a Mars mission. Others contend that it would be too difficult to extract. And there is disagreement about whether the moon is a good alternative to space as a base for advanced telescopes. In January, President Bush redirected the US space effort sending astronauts back to the Moon and...