Credit Institutions News
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The European Union should give depositors preference over other unsecured creditors when a bank fails and standardize its approach across the 27-nation bloc, according to International Monetary Fund’s staff memorandum.
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The value of guarantees extended by the Spanish government in the past year to help banks and power companies and fund European rescue facilities almost doubled in the past year.
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Intrade, the betting website that halted trading last month amid a probe into suspected financial irregularities, told customers it has found a $700,000 shortfall in client funds as it seeks their backing for a survival plan.
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A 26 percent jump in a line item on the European Central Bank’s balance sheet is pointing to a rise in emergency borrowing by banks in Cyprus and Greece.
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Deposits by Irish private sector companies at credit institutions in Ireland fell an annual 17 percent to 81.1 billion euro at the end of the June, the Irish central bank said in a report today.
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Lithuania’s decision to close four credit institutions removed risks from the nation’s financial industry without destroying public trust in banks, the International Monetary Fund said.
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Banker bonus curbs backed by the rest of the European Union imperil efforts to make lenders more resilient in crises, the U.K. said in a new attack following Chancellor of the Exchequer George Osborne’s defeated bid to block the measures.
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Sweden’s Financial Supervisory Authority said it will demand higher requirements for banks’ liquidity buffers to ensure that credit institutions hold sufficient liquidity to manage periods without access to market funding.
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The first rule of ELA is you don’t talk about ELA.
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Hungary’s central bank will offer two-year, collateralized base rate-indexed loans to domestic lenders and widen the range of collateral it accepts starting next month to boost corporate lending as the economy falters.
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