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Publication of the report on EU banking structures

The European Central Bank (ECB) publishes today its annual report on EU banking structures. The report, which has been published every year since 2002, reviews the main structural developments in the EU banking sector in 2007 and the first half of 2008. It also contains two special features on the incentive structure of the originate and distribute model of financial intermediation and the on a survey of EU banks on major risks on the year ahead (covering the period from spring 2008 spring 2009).rnrnThe most important structural developments that took place in the EU banking sector are as follows: rnrnThe consolidation process (as indicated by the decreasing number of credit institutions) continued in 2007, although with signs of a moderate slowdown. Overall, the number of credit institutions declined by 162 (from 8,512 to 8,350) while the corresponding figure in 2006 was 179. Market concentration... detalii

Joint Statement by Treasury, Federal Reserve, and FDIC

Washington, DC-- The following statement was made by Treasury Secretary Henry M. Paulson, Jr, Federal Reserve Chairman Ben Bernanke and FDIC Chairman Sheila C. Bair:rnrnToday we are taking decisive actions to protect the U.S. economy, to strengthen public confidence in our financial institutions, and to foster the robust functioning of our credit markets. These steps will ensure that the U.S. financial system performs its vital role of providing credit to households and businesses and protecting savings and investments in a manner that promotes strong economic growth in the U.S. and around the world. The overwhelming majority of banks in the United States are strong and well-capitalized. These actions will bolster public confidence in our system to restore and stabilize liquidity necessary to support economic growth.rnrnLast week, the Presidents Working Group on Financial Markets announced that the U.S. government would deploy all of our tools in... detalii

Fed announces additional details regarding the Commercial Paper Funding Facility (CPFF)

The Federal Reserve Board on Tuesday announced additional details regarding the Commercial Paper Funding Facility (CPFF), including that it would begin funding purchases of commercial paper on October 27, 2008.rnrnThe Board authorized the CPFF on October 7, 2008 under Section 13(3) of the Federal Reserve Act to provide a liquidity backstop to U.S. issuers of commercial paper. The CPFF is intended to improve liquidity in short-term funding markets and thereby increase the availability of credit for businesses and households. rnrnUnder the CPFF, the Federal Reserve Bank of New York will finance the purchase of unsecured and asset-backed commercial paper from eligible issuers through its primary dealers. The CPFF will finance only highly rated, U.S. dollar-denominated, three-month commercial paper.rnrnThe attached terms-and-conditions and questions-and-answers documents describe the terms and operational details of the facility, which were determined after consultation with commercial paper issuers and dealers.rnrn

Banca poloneza Millennium inaspreste conditiile de acordare a creditelor ipotecare

Banca poloneză Millennium, subsidiară a grupului portughez Millennium bcp, prezent şi pe piaţa românească, va înăspri condiţiile la acordarea împrumuturilor pentru locuinţe, ceea ce va frâna creşterea portofoliului de astfel de credite, a spus marţi directorul executiv al băncii, citat de Reuters.rnrnAstfel, banca va solicita de acum clienţilor să acopere 35% din valoarea investiţiei dacă iau credit în monedă străină şi 20% dacă împrumutul este în zloţi.rnrn"Decizia va bloca, practic, creşterea portofoliului nostru de credite ipotecare", a spus directorul executiv al băncii, Boguslaw Kott , la o conferinţă de presă.rnrnEl a precizat că mişcarea este una care ţine de prudenţialitate şi nu reflectă probleme de lichiditate ale băncii, dar a adăugat că în prezent este mult mai dificil să se obţină franci elveţieni pe piaţa interbancară.rnrnMulţi cumpărători de case din centrul şi estul Europei,inclusiv din România, îşi finanţează achiziţiile prin credite în monedă străină, mai... detalii

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