Failed Banking

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Tuesday, 24 November 2020

Latest News for: Failed banking

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Rajan, Acharya object to bank licences for biz houses

The Times of India 24 Nov 2020

They said the bill for a rescue will be much higher if a bank led by an industrial house fails ... They pointed out that the report has been issued when three lenders, including two scheduled commercial banks, have failed in the past year ... 'Corporate houses in banking a bad idea'....

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For Lebanon's bank, independence should be central

The National 24 Nov 2020

It is not just in Lebanon that the independence of central banks has been tested ... In Britain, pro-Brexit politician Jacob Rees-Mogg called the former governor of the Bank of England, Mark Carney, who is from Canada, an “enemy of Brexit” and a “failed second-tier Canadian politician”, after Mr Carney warned Brexit might cause a technical recession....

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From extended jobless benefits to student loan reprieve, COVID-19 relief set to fade at year's end

The Herald News 24 Nov 2020

“The economy will be operating without a safety net in January,” Bank of America economists wrote in a research note Friday ... Banks on the brink. Two small banks failed in October ... That would reduce first-quarter economic growth by 1.2 percentage points, Bank of America estimated....

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Documentary ‘Time’ is a testament to loyalty, faith

The Spokesman-Review 24 Nov 2020

Above ... Amazon Studios). Movie review ... It was in 1997, shortly after funding for the couple’s plan to open their own business fell through, that they – incredible as it may seem – decided to rob a bank. As Fox explains in the film, “What I remember more than anything was not wanting to fail, and we had become desperate ... ....

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The LVB mess — a failure of regulation?

Business Line 23 Nov 2020

One more banking wicket is down with the fall of Lakshmi Vilas Bank Ltd, which existed for 94 long years. We also saw the collapse of YES Bank Ltd in recent times ... Whenever any private bank fails, it is merged with some other bank and the depositors are saved. In the process, the shareholders of failed banks see erosion of their investment....

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Clock ticking on old Canadian banknotes' legal tender status

Toronto Sun 23 Nov 2020

The Bank of Canada is reminding Canadians that some older bank notes will be removed as legal tender beginning Jan ... We apologize, but this video has failed to load ... Parliament approved amendments to the Bank of Canada Act in 2018 to get rid of the $1, $2, $25, $500 and $1,000 notes, which are no longer produced....

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EDITORIAL: Bank of Canada gets in on the Great Reset

Toronto Sun 23 Nov 2020

Including at the Bank of Canada. We apologize, but this video has failed to load ... We apologize, but this video has failed to load ... One wonders if Trudeau will now likewise denounce the Bank of Canada for being a co-conspirator. Back in August, Paul Beaudry – Deputy Governor of the Bank – delivered a presentation with the headline ““....

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The conundrum the Italian government faces the country’s oldest bank

Business Day 23 Nov 2020

The public outcry against bank bailouts during the financial crisis prompted European governments to constrain the use of public money to help lenders in crisis ... The deal between Intesa and Rome over the Veneto banks made a mockery of the single European rule book for failing lenders, and dealt a blow to Europe’s so-called “banking union”. ....

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The conundrum the Italian government faces with the country’s oldest bank

Business Day 23 Nov 2020

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Banking rules need to close door to tycoon cronyismCrony capitalism has built up slowly in ...

Deccan Herald 23 Nov 2020

Is India opening the door for big businesses to take over its banking industry? ... A future for banking amalgamations ... That didn’t happen at Axis Bank Ltd, ICICI Bank Ltd and Yes Bank Ltd, which failed to rein in their long-standing chief executives as bad loans piled up ... For overleveraged groups, bank licenses are a ticket to too-big-to-fail nirvana....

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Is India letting cronyism get deeper into banking?

Live Mint 23 Nov 2020

Foreign banks’ low 5% share has remained unchanged ... and Yes Bank Ltd., which failed to rein in their long-standing chief executives as bad loans piled up ... For overleveraged groups, bank licenses are a ticket to too-big-to-fail nirvana. Savers trust the explicit deposit guarantee and have implicit faith in the regulator....

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2 bank stocks that could go up from here

The Times of India 23 Nov 2020

There could be a lot of up moves in the financial stocks and there is deep value in a few corporate banks like ICICI Bank and SBI ... So, SBI, ICICI Bank and LIC Housing Finance and M&M Finance among NBFCs -- where the numbers are quite decent -- could see up moves ... The government infused funds through various banks and did not allow it to fail....

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NBFCs likely to benefit most from RBI panel proposal to allow conversion to banks: Report

Moneycontrol 23 Nov 2020

“We do not want entities called NBFCs becoming too large as they are dependent on wholesale liability, and one disaster like DHFL could make people nervous," he said, pointing out to the “highly regulated” Lakshmi Vilas Bank (LVB) which failed despite checks and balances....