International Banking :

[Aman A.K.A. Ahamburger]

From the The bold are his words...

AGAIN.. EUROPE HAS NOT SOLVED ANYTHING IN THREE YEARS OF TALK AND AUSTERITY.. THAT ANOTHER WAY OF SAYING CUTING SPENDING AND DECREASING GDP.. GROWTH IS NOWHERE TO BE FOUND AND NO REASON TO INVEST IN PLANT OR MACHINERY.. KEEP THE CASH IN BOND .. YES AAA RANKED ( BY MMXII) US TREASURY.. THE MARKET HAS BACKED MMXII ANALYSIS AND SAID TO S&P TO GO ........ WHERE NO MAN HAS GONE BEFORE .. AND DO NOT COME BACK THIS IS NOT YOUR HOME IT IS OURS.. AMERICANS HOME...JUST A THOUGHT, BI METAL AU PT

World powers seek to contain European debt crisis
By MARTIN CRUTSINGER and GABRIELE STEINHAUSER
The Associated Press
Geithner
Manuel Balce Ceneta
Geithner
www.msnbc.msn.com/id/44652216/ns/business-world_business/t/world-powers-seek-contain-europe-debt-crisis/ | Global finance officials pledged Saturday to take bolder moves to confront a European debt crisis that threatens to plunge the world into another deep recession.

But sharp disagreements about exactly what to do can’t offer much reassurance to markets rocked by uncertainty in recent weeks.

The United States and other countries outside of Europe fear the economic fallout at home from the European crisis. They are raising the pressure on Europeans to settle their differences and agree on a plan to rescue heavily indebted European countries.JUST LIKE THE LAST TWO DEPRESSIONS STARTED IN CENTRAL EUROPE WITH A HUGE BANK CRASH,,,, 1873 AND 1933...AGAIN 2013

Treasury Secretary Timothy Geithner told officials at a meeting of the International Monetary Fund that time was running short to stave off potential domino-style defaults in Europe. European governments, he said, need to join with the European Central Bank to provide stronger support to calm market fears.

He said the central bank, which serves the 17 nations that use the euro as a common currency, should make sure that financially troubled countries trying to reform their economies can get loans at affordable rates and that European banks have access to the capital they need to operate.

Fears that Greece is in danger of defaulting on its debt have rattled U.S. and global markets. Such a development would add to the stress for major banks in France and Germany that have a large exposure to Athens’ debt. It also would further strain other heavily indebted Portugal and Ireland, and even bigger economies such as Italy and Spain.

“The threat of cascading default, bank runs and catastrophic risk must be taken off the table,” Geithner told the IMF’s policy committee. “Decisions as to how to conclusively address the region’s problems cannot wait until the crisis gets even more severe.”

Mark Carney, head of Canada’s central bank, called for “overwhelming” the problem by more than doubling the 400 billion euro rescue fund to 1 trillion euros, an amount that would equal $1.35 trillion.

The IMF panel, which sets policy for the 187-nation lending institution, wrapped up discussions at its annual meeting with a statement pledging to work decisively and in a coordinated way to deal with Europe’s debt crisis.

The statement was similar to pledges of increased support Thursday by finance officials from the Group of 20 major world economies. Both statements were short on specifics.

The IMF statement said the fund stood ready to back further efforts to deal with the crisis beyond bailout support for Greece, Portugal and Ireland.

“Today, we agreed to act decisively to tackle the dangers confronting the global economy,” the IMF’s managing director, Christine Lagarde, said.

It’s a critical first test for Lagarde, who took over in June from Dominique Strauss-Kahn. He had guided the fund’s response to the 2008 global financial crisis but was forced to step down in May after facing criminal charges in New York that included attempted rape of a hotel maid. Prosecutors dropped the charges because of concerns about the accuser’s credibility.

The three days of discussion wrapped up late Saturday with a meeting of the Development Committee, which sets policy for the World Bank.

World Bank President Robert Zoellick announced at a final news conference that the World Bank planned to triple to $1.88 billion the amount of humanitarian support the bank is providing to countries in drought-ravaged areas of the Horn of Africa. The World Bank has estimated that more than13 million people in the region are in need of humanitarian assistance.

[Aman A.K.A. Ahamburger]

We have been talking about 2013 a bit lately.. This is my response..


In reality, if these euro don't get a bond going soon it's going to get real bad over there by 2013 and it will drag us all down for a while. They all know it, so we will see if they can come together over the next year. They were told in the beginning that it had to be done that you couldn't just have a monetary union. But the free world means you do want you want and sometimes others suffer because of ones choices.

[bimetalaupt]

The huge cost for backing the buck at Dexia has killed the largest bank in Belgian . This once huge player in the Derivative and Government Bond markets will be broken up to four or more parts and bought by local Federal Governments plus Qatar Royal Family... RIP Dexia Banque.. First huge international failure of this phase of the CREDIT CRASH....

Just a thought,
BiMetalAuPt

Oct. 10 (Bloomberg) -- Luxembourg Finance Minister Luc Frieden said an investment group that includes members of Qatar’s royal family will take over Dexia SA’s unit in Luxembourg.

A group comprised of “members of the royal family of Qatar” is “willing to buy” Dexia Banque Internationale a Luxembourg SA “at short notice,” Frieden told reporters in Luxembourg today. The government intends to take a minority stake that will cost no more than 150 million euros ($204 million), he said.

Frieden spoke hours after the Belgian federal government agreed to buy Dexia’s local consumer-lending unit, ending a 15- year cross-border experiment with France. Belgium will pay 4 billion euros for the division and guarantee 60 percent of a so- called bad bank to be set up for Dexia’s troubled assets, Finance Minister Didier Reynders said.

Attachments:

[dothedd]

Your information sharing is "MUCH" appreciated, Bruce!

K4U

[bimetalaupt]

Moon,
Please make the second one to be moved to the New A++ Board.. call it what he want or call it "Shared Ratepack".. Because.. Moon.. You are the "WON" (purple is the colour of royalty)

Bruce

[Aman A.K.A. Ahamburger]

I like the topic above, yes some were talking about 2013 a while ago...

But now, 7% is better than 2%, but we are on our way to 10% capital and balanced budgets.

US Fed agrees Basel III banking rules
www.google.com/hostednews/afp/article/ALeqM5gpQatwTG4Xg_ICfs5L54gZPBOXaA?docId=CNG.92a8e634140e4a65b582e6e5feb93c87.3e1

[Aman A.K.A. Ahamburger]

Some more "worthless" US dollars going to work.

Chilean Banks Plan To Sell Up To $6B In US Commercial Paper
online.wsj.com/article/BT-CO-20120504-715187.html

[bimetalaupt]

Jul 3, 2012 23:43:54 GMT -5 Aman A.K.A. Ahamburger said:

Some more "worthless" US dollars going to work.

Chilean Banks Plan To Sell Up To $6B In US Commercial Paper
online.wsj.com/article/BT-CO-20120504-715187.html

Again the banks are taking a hair cut on Greek bonds...Why why buy Green bonds.. or Greek bonds at more then 10% of face??

www.reuters.com/article/2012/12/09/greece-buyback-idUSL5E8N93ZX20121209

Greek bonds at more then 10% of face???
BiMetalAuPt

Athens may invite more bondholders to take part -sources

* Greek PM says buyback "went very well"

* Greek banks ready to step in to hit 30 bln euro target-TV

By George Georgiopoulos

ATHENS, Dec 9 (Reuters) - Greece may ask for additional offers from bondholders in a debt buyback plan that forms part of its international bailout, Greek officials said on Sunday, but the country's prime minister said the transaction was running smoothly.

The invitation might be renewed on Monday to top up the offers already received, three officials close to the proceedings told Reuters. "It's possible," a senior government official told Reuters on condition of anonymity.

Another government official and a banker confirmed the move was under consideration.

Athens plans to buy back bonds with a face value of about 30 billion euros at deeply discounted prices to lower its debt load. A deadline for bondholders to submit offers expired on Friday. A Greek government official said on Saturday that Athens had received offers of about that sum.

Asked late on Sunday to comment on the success of the buyback, Greek Prime Minister Antonis Samaras said: "the procedure went very well."

"I believe that by Monday or Tuesday, I will be able to say with great certainty that things went very well," he said on a visit to Munich, Germany.

The buyback accounts for about half of a 40-billion euro EU/IMF debt relief package for Athens agreed in November. Its success would help Greece's debt fall to 124 percent of GDP by 2020, ensuring that the IMF stays on board in the rescue.

Greek television station Mega reported earlier on Sunday that Athens was very close to hitting the 30-billion-euro mark and that it would very likely renew the invitation for a short period to collect additional bids from Greek banks on standby to provide them.

By Friday, Greece received offers for at least 15-16 billion euros from foreign investors and about 10-11 billion from Greek banks, Mega said.

Greek banks, which hold about 17 billion euros of bonds, said on Friday

[Aman A.K.A. Ahamburger]

Dec 10, 2012 0:02:14 GMT -5 bimetalaupt said:

Jul 3, 2012 23:43:54 GMT -5 Aman A.K.A. Ahamburger said:

Some more "worthless" US dollars going to work.

Chilean Banks Plan To Sell Up To $6B In US Commercial Paper
online.wsj.com/article/BT-CO-20120504-715187.html

Again the banks are taking a hair cut on Greek bonds...Why why buy Green bonds.. or Greek bonds at more then 10% of face??

Why for you and I? Aren't Greek bonds payin a lot of green on the spread?? The banks got themselves into funding social spending. Bonding yourself to poor people and people that want to retire at 45 with the govt paying for everything was a terrible bet I would say..... Are they lucky if they get 10% of face in the end??

[bimetalaupt]

Jan 30, 2011 23:48:24 GMT -5 Aman A.K.A. Ahamburger said:

B.. The FT has this to say..

www.ft.com/cms/s/0/48dae2e4-2c9d-11e0-83bd-00144feab49a.html?ftcamp=rss#axzz1CaKGChNd

Europe’s banking system is returning to health amid signs that financial institutions are no longer hoarding cash, according to key indicators.

Euro overnight bank lending rates have “normalised”, while banks have scaled back the amount of money held at the European Central Bank above reserve requirements – known as excess liquidity.

This has raised hopes that institutions are lending to each other again as fears of counterparty risk and a deepening of the eurozone debt crisis recede.

Is this what you have heard? IF this is true, good news for the Austrian banks. It's also a bullish indicator, isn't it??

WAS THE ECB RIGHT OR WAS THE ECB WRONG.. A LITTLE OF EACH AND A LITTLE OF BOTH... IT IS ALL STARTING OVER AGAIN AND ECB IS STARTING TO DATE IRELAND IN A HUNGER OF WORTHLESS BONDS...BACKED WITH IRISH WHISKEY 
FROM THE IRISH TIME.. IN IRELAND THE PAPER DOES TELL IT LIKE IT IS!!! Just a thought,BiMetalAuPt

IBRC (formerly Anglo Irish Bank)

IBRC is an asset recovery bank committed to working out its operations over time in a manner consistent with its European Commission (EC) approved restructuring plan. It was established on July 1st 2011 as a result of a merger between Anglo Irish Bank and Irish Nationwide.

Bundesbank concern at Irish deal

www.irishtimes.com/newspaper/finance/2013/0216/1224330114777.html

Bundesbank president Jens Weidmann has voiced concern that Ireland’s promissory notes deal came perilously close to illegal monetary financing.

Last week the ECB “unanimously took note” of a plan to swap Anglo Irish promissory notes for sovereign bonds, easing Irish borrowing requirements by €20 billion.

Mr Weidmann, a prominent member of the ECB governing council, has now hinted the deal set a dangerous precedent by blurring the ECB’s “clear line between monetary and fiscal issues”.

“The transaction in Ireland demonstrates how difficult it is for monetary policy to free itself from the embrace of fiscal policy once you’re engaged,” he said to Bloomberg.

The Bundesbank is unhappy with what it sees as indiscreet statements by Irish politicians on the role played by various officials in reaching the agreement.

Annoyance 

There is annoyance, too, that remarks in Ireland on the resulting cost savings only highlighted the legal questions surrounding the arrangement.

For his part, Mr Weidmann said that Irish remarks had “underscored the fiscal elements in this transaction”.

Article 123 of the EU treaty forbids the ECB from engaging in monetary financing. However many officials close to the deal have conceded that both the original promissory note deal and its successor arrangement did just that – or at least came very close.

Yesterday, Mr Weidmann reiterated his “strict” definition of monetary financing and urged EU leaders to “accept the limitations of article 123 for our actions”. “It’s not difficult from that to guess what my position is,” he said.

Last Wednesday evening, the German banker is understood to have held out against allowing a promissory notes deal. The Bundesbank head expressed concern about the legality of the liquidation of assets of IBRC. He is concerned at the monetary financing implications of the Central Bank of Ireland selling promissory notes that have been transformed into bonds.

Mr Weidmann said he was not “passing a legal judgment on a particular transaction”, but said the liquidation of IBRC had “repercussions” which the ECB would have to ensure conformed to its rules.

Monitoring 

Echoing Mr Draghi last week, Mr Weidmann said the Irish arrangement would be re-examined.

Yesterday official sources said this would happen as part of normal ECB monitoring and the Bundesbank was not pushing for any special tests, nor did it want the deal reopened.

Mr Weidmann reiterated yesterday his concerns that the ECB was in danger of compromising its independence and credibility by becoming enmeshed in euro zone crisis politics.

[Aman A.K.A. Ahamburger]

BiMetal,

Is the ECB right or wrong? Considering that the ESM was supposed to never be needed I would say the EU was set up wrong from the get go. I think that if these countries didn't want to get in bed with each other they shouldn't have. Now the question is how are the meetings between the ECB and the RCB going??

God bless,

[bimetalaupt]

Feb 17, 2013 12:41:55 GMT -5 Aman A.K.A. Ahamburger said:

BiMetal,

Is the ECB right or wrong? Considering that the ESM was supposed to never be needed I would say the EU was set up wrong from the get go. I think that if these countries didn't want to get in bed with each other they shouldn't have. Now the question is how are the meetings between the ECB and the RCB going??

God bless,

It looks to me the German Bundesbank is all over this deal.. Let see.. It looks like a duck, quack like a duck and walks like a duck...waddle...waddle...waddle...

It must be a Frog....No...It is hard to tell what they were thinking....money from one hand to the next..

BimetalAuPt

[Aman A.K.A. Ahamburger]

Feb 17, 2013 13:23:52 GMT -5 bimetalaupt said:

Feb 17, 2013 12:41:55 GMT -5 Aman A.K.A. Ahamburger said:

BiMetal,

Is the ECB right or wrong? Considering that the ESM was supposed to never be needed I would say the EU was set up wrong from the get go. I think that if these countries didn't want to get in bed with each other they shouldn't have. Now the question is how are the meetings between the ECB and the RCB going??

God bless,

It looks to me the German Bundesbank is all over this deal.. Let see.. It looks like a duck, quack like a duck and walks like a duck...waddle...waddle...waddle...

It must be a Frog....No...It is hard to tell what they were thinking....money from one hand to the next..

BimetalAuPt

LOL,  yep looks like a EurRussian duck to me... 
Now, if I can get to these 900 or so emails that I have sent myself I will explain the trouble in Russian paradise. 

Have a great day,

[bimetalaupt]

A+++,
 Well.. no one in Russia trust the government..no one in Russia trust the money...No one in Russia trust the banks...So the Russian Central Bank does the one thing it can do to buy trust..
GOLD...!!! THAT THEY CAN SEE AND THE BANKSTER STEAL!!!  SO WHERE IS THE REST OF THE GERMAN GOLD..

IF IT IS NOT IN THE NYFRB IT MUST BEE VAPER WARE??

GREEN WARE FOR FUTURE GENERATIONS ...I LIKE PLATINUM TO CLEAN AIR AND MAKE H2.. MORE OF AN INDUSTRAL DEMAND ..RUSSIA MINES BOTH ..

AS BEFORE BiMetalAuPt
Just a thought.. powered by Lithium Power ..connected with Gold and plated in Platinum/PLATINUM  FOR COLD FUSION...

[Aman A.K.A. Ahamburger]

Bi,

What? You mean the commies can't be trusted? hmmm.... Russia needs to back their CB with something before the euro will start to flow in the "former" red nation.

Also, ya that gold must be vaporware, it's not like Germany only bought the Gold and ask the US to store it. I mean why would the FRBNY want to keep PURE gold from the early 1900's and mine newer stuff for Germany? It's not like precious metals are used primarily for industrail uses or anything..

On the road,

A+++