financialcrisis
Euro area ministers on Monday (11 March) agreed a wishlist of financial reforms – led by a controversial relaunch of securitisation, the banking-sector instruments that caused the last financial crisis. Compared to other major economies like the US, the EU economy is largely dependent on bank financing – and policymakers are keen to find alternatives such as fundraising via stock issuance. Of the 13 measures proposed by finance ministers, number one was to help banks to offload risks via the complex structured products – but that isn’t without its controversy. The proposals seek to “deregulate...
Euronews (English)
A controversial EU bank crisis fund has reached its intended €78 billion capacity, meaning that lenders won’t need to pay in further annual contributions, a senior official announced today (13 February). The Single Resolution Fund is designed to avoid 2008-style taxpayer bailouts of the financial system – and eurozone banks have been collectively stumping up ten billion euros each year until it reaches a level equal to 1% of bank deposits. The Fund “has reached its target level”, said Dominique Laboureix, who chairs the Single Resolution Board (SRB) which administers the reserve, at a conferen...
Euronews (English)
On 9 August 2007 French bank BNP Paribas froze three of its US funds due to US subprime mortgage problemsValue of mortgage debt crumbled, and banks stopped lending to each otherBailouts came thick and fast in 2008 as investors lost confidence in the banking systemParallels with today as volatility hits stocks, housing markets start to cool, and an energy crunch causes a shockCentral banks now lack the tools to alleviate the downturn and instead are focused on bringing down inflationInterest rates were 5.75% in August 2009 with room to fall, today they are at 1.25% and are set to rise furtherBa...
ValueWalk
In life, there are specific rules you should never break under any circumstance. For example, bringing uninvited guests to a wedding or not picking up your dog’s waste in the park. The same goes for putting fruit on pizza or crossing the streams if you ever dreamed of becoming a Ghostbuster. There are rules to keep in the case of your personal finances. But, sometimes, rules have to be broken, especially during a financial crisis. So, with that in mind, here are six personal rules you can ignore when you need to. 1. Borrowing money from friends or family.Whenever you’re in a precarious financi...
Due
Knock, knock? Is it already the sky, or just a ceiling? Either way, oil has risen substantially — how high can it go? Q2 2021 hedge fund letters, conferences and more Fundamental UpdatesThe crude closed on highs on Thursday thanks to optimism about demand as well as the remaining tight supply. In fact, this increase is driven by a general market sentiment that is relatively favorable to the macroeconomic situation and the conviction that supply should remain tight until the end of 2021. The WTI crude oil futures rose 1.5% - more than $1 compared to Wednesday's close. Like Wall Street, the oil ...
ValueWalk
A sharp rebound in stock prices last week lifted the market index back to all-time highs. The Broad Market Index was down 3.31% last week and 38% of stocks out-performed the index. This frothy and speculative market is vulnerable to a more sustained decline such as we have not seen since the financial crisis 2007 to 2009. The confidence that the world central banks will bail out investors regardless of the cost is reflected in two market rules that have evolved; Don’t fight the Fed & Buy the Dips. Q4 2020 hedge fund letters, conferences and more Maintain Exceptional Portfolio AttributesBoth ar...
ValueWalk
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