Friday 30 November 2012
Demand
The combined desire, abilityand willingness on the part of consumers to buy goods or services. Demand is determined by income and by price, which are, in part, determined by supply.The combined desire, abilityand willingness on the part of consumers to buy goods or services. Demand is determined by income and by price, which are, in part, determined by supply.
Discretionary Account
A securities account created when a client gives a partner, director or qualifiedportfolio manager of a Participating Organization specific written authorizationto select securities and execute trades on the client's behalf.
Diversification
Limiting investment risk by purchasing different types of securities from different companies representing different sectors of the economy.
Dividend
The portion of the issuer's equity paid directly to shareholders. It is generallypaid on common or preferred shares. The issuer or its representative provides the amount, frequency (monthly, quarterly, semi-annually, or annually), payable date, andrecord date. The exchange that the issue is listed on sets the ex-dividend/distribution (ex-d) date for entitlement. An issuer is under no legal obligation to pay either preferred or common dividends.
Dividend Reinvestment Plan
A means of reinvesting dividends, which would otherwise be paid to the shareholder in cash, in additional stock of the company.
Dividend Yield
Equal to the indicated annual dividend rate per share divided by the security's price. For example, if the indicated dividend rate is $1.00 and the closing price is $50.00,$1 divided by $50.00 equals2%.
Dividend/Distribution Payable Date
The date set by the issuer on which the dividend/distribution will be paid.
Dollar Cost Averaging
Investing a fixed amount of dollars in a specific security at regular set intervals over a period of time. Dollar cost averaging results in a lower average cost per share, compared with purchasing aconstant number of shares atset intervals. The investor buys more shares when the price is low and buys fewer shares when the price is high.
Dow Jones Industrial Average (DJIA)
An average made up of 30 actively traded stocks. The DJIA is calculated by adding the prices of each ofthe 30 stocks and dividing by a divisor. The DJIA is one of the most widely quoted stock market averages in the media.
Downtick
A trade is on a downtick when the last trade occurred at a price lower than the previous one.
Japan unveils $11bn stimulus package
Japan's government has approved its second roundof stimulus in a little more than a month, as prime minister Yoshihiko Noda tries to pep up a flagging economy in the run-up to December's elections.
On Friday the cabinet announced that it would tap reserve funds to spendY880bn ($10.7bn) on a variety of measures, including rebuilding areas hit by the March 2011 earthquake, employment support and aid to cash-strapped small businesses. The plan is roughly double the size of a package announced in late October, which was also drawn mostly from reserves and aimed at reconstruction efforts.
The stimulus comes as Japan hovers on the brink of a technical recession, its fifth of the past 15 years, as manufacturers cut production amid a steady worsening in their sales and profit outlook. Falling exports were the main contributor to a 0.9 per cent contraction in gross domestic product between July and September, and economists are braced for another in the three months to December. Last week the government slashed its quarterly assessment of business sentiment in all 11 regions of the country -- the first clean sweep since February2009 -- blaming sluggish output and consumption.
Economic data released on Friday were a little more encouraging, showing an unexpected rise of 1.8 per cent in industrial production from September to October. Thenationwide consumer priceindex (excluding fresh food) was unchanged froma year ago, improving from five months of year-on-year declines to September.
However, with more job cuts expected in a manufacturing sector exposed to tepid demand in developed economies and an uncertain outlook in China, analysts expect renewed deflationary pressure on the world's third-largest economy.
"We are yet to see any lightout of this recession tunnel," said Takiji Okubo, principal at Japan Macro Advisors, a Tokyo consultancy.
The government fears that if the economy slips further, it could threaten plans to increase consumption tax from 2014. Provisions attached tothe legislation, passed in August, require the government to consider the overall economic situation before implementing any increase.
On Friday the cabinet announced that it would tap reserve funds to spendY880bn ($10.7bn) on a variety of measures, including rebuilding areas hit by the March 2011 earthquake, employment support and aid to cash-strapped small businesses. The plan is roughly double the size of a package announced in late October, which was also drawn mostly from reserves and aimed at reconstruction efforts.
The stimulus comes as Japan hovers on the brink of a technical recession, its fifth of the past 15 years, as manufacturers cut production amid a steady worsening in their sales and profit outlook. Falling exports were the main contributor to a 0.9 per cent contraction in gross domestic product between July and September, and economists are braced for another in the three months to December. Last week the government slashed its quarterly assessment of business sentiment in all 11 regions of the country -- the first clean sweep since February2009 -- blaming sluggish output and consumption.
Economic data released on Friday were a little more encouraging, showing an unexpected rise of 1.8 per cent in industrial production from September to October. Thenationwide consumer priceindex (excluding fresh food) was unchanged froma year ago, improving from five months of year-on-year declines to September.
However, with more job cuts expected in a manufacturing sector exposed to tepid demand in developed economies and an uncertain outlook in China, analysts expect renewed deflationary pressure on the world's third-largest economy.
"We are yet to see any lightout of this recession tunnel," said Takiji Okubo, principal at Japan Macro Advisors, a Tokyo consultancy.
The government fears that if the economy slips further, it could threaten plans to increase consumption tax from 2014. Provisions attached tothe legislation, passed in August, require the government to consider the overall economic situation before implementing any increase.
Australian Lynas starts up Malaysian plant
The company said in a statement that the first feed of rare earth concentrate had been fed into the kiln at the Lynas Advance Material Plant (LAMP) in Kuantan Malaysia.
The event follows controversy and delays due to strong opposition about possible health threats caused by pollution.
A Malaysian court recently dismissed anapplication by the Save Malaysia Stop Lynas group to blockLynas' operating licence, but the legal challenges are ongoing.
Lynas mines rare earths from the highly regarded Mt Weld in Western Australia, which are metallic elements used in products ranging from digital televisions, mp3 players and fluorescent light bulbs.
"This is a significant milestone for Lynas,"said Lynas executive chairman Nicholas Curtis.
"The operation of the LAMP is now a reality, and the LAMPwill provide real datathat will assure people that the LAMPis entirely safe for our local communities and theenvironment."
It is expected to take about two months before first sales of finished product and cash generation.
The event follows controversy and delays due to strong opposition about possible health threats caused by pollution.
A Malaysian court recently dismissed anapplication by the Save Malaysia Stop Lynas group to blockLynas' operating licence, but the legal challenges are ongoing.
Lynas mines rare earths from the highly regarded Mt Weld in Western Australia, which are metallic elements used in products ranging from digital televisions, mp3 players and fluorescent light bulbs.
"This is a significant milestone for Lynas,"said Lynas executive chairman Nicholas Curtis.
"The operation of the LAMP is now a reality, and the LAMPwill provide real datathat will assure people that the LAMPis entirely safe for our local communities and theenvironment."
It is expected to take about two months before first sales of finished product and cash generation.
Hard times in Eurozone uneployment high
The eurozone's unemployment rate hit a new record high in October,while consumer price rises slowed sharply.
The jobless rate in the recessionary euro area rose to 11.7%. Inflation fell from 2.5% to 2.2% in November.
The data came as European Central Bank president Mario Draghi warned the euro would not emerge from its crisis until the second half of next year.
Government spending cuts would continue to hurt growth in the short-term, Mr Draghi said.
The unemployment rate continued its steady rise , reaching 11.7% in October, up from 11.6% the month before and 10.4% a year ago.
A further 173,000 were out of work across the single currency area, bringing the total to 18.7 million.
The respective fortunes of northern and southern Europe diverged further. InSpain, the jobless rate rose to 26.2% from 25.8% the previous month, and in Italyit rose to 11.1% from 10.8%.
In contrast, unemployment in Germany held steady at 5.4% of the labour force, while in Austria it fell from 4.4% to just 4.3%.
Spending hit
Data earlier this month showed that the eurozone had returned to a shallow recession in the three months to September, shrinking 0.1% during the quarter, following a 0.2% contraction the previous quarter.
The less competitive southern European economies, such as Spain and Italy, where governments have had to push through hefty spending cuts to get their borrowing under control, have been in recession for over a year. But growth in Germany and France came in at a disappointing 0.2%.
More recent data suggests that both core eurozone economies have continued to skirt recession during the autumn.
Retail sales in Germany shrank 2.8% in October versus the previous month, down 0.8% from a year earlier, according to data released on Friday. Analystshad expected the country to record unchanged or moderately growing sales.
Meanwhile, separate data showed consumer spendingin France shrank 0.2% in October versus the previousmonth, with spending on cars and other durable goods hardest hit.
Contraction 'inevitable'
The sharp slowdown in the eurozone's consumer price index , to 2.2% in November, is also symptomatic of the weakness of spending.
However, the inflation data may also open the door to further measures by the ECBto boost the economy, as theindex fell much closer to the central bank's 2% targetrate.
"We have not yet emerged from the crisis," said Mr Draghi, speaking on pan-European radio. "The recovery of the eurozone will certainly begin in the second half of 2013.
"It's true that the budgetaryconsolidation entails a short-term contraction of economic activity, but this budgetary consolidation is inevitable."
Despite Mr Draghi's warning, and the generally poor state of the eurozone economy, markets have begun to take a far more sanguine view of the single currency's future.
Italy's implicit cost of borrowing in the financial markets has fallen to its lowest level in two years, dropping to an implied interest rate of about 4.5% for 10-year debt.
Spain is able to borrow frommarkets at a 10-year rate of about 5.5% - far below the 7%-8% rate being demanded over the summer.
Mr Draghi conceded that the announcement of the ECB's willingness to buy up potentially unlimited amounts of government debt had boosted market confidence, even though noeurozone government had actually taken up the ECB's offer yet.
The jobless rate in the recessionary euro area rose to 11.7%. Inflation fell from 2.5% to 2.2% in November.
The data came as European Central Bank president Mario Draghi warned the euro would not emerge from its crisis until the second half of next year.
Government spending cuts would continue to hurt growth in the short-term, Mr Draghi said.
The unemployment rate continued its steady rise , reaching 11.7% in October, up from 11.6% the month before and 10.4% a year ago.
A further 173,000 were out of work across the single currency area, bringing the total to 18.7 million.
The respective fortunes of northern and southern Europe diverged further. InSpain, the jobless rate rose to 26.2% from 25.8% the previous month, and in Italyit rose to 11.1% from 10.8%.
In contrast, unemployment in Germany held steady at 5.4% of the labour force, while in Austria it fell from 4.4% to just 4.3%.
Spending hit
Data earlier this month showed that the eurozone had returned to a shallow recession in the three months to September, shrinking 0.1% during the quarter, following a 0.2% contraction the previous quarter.
The less competitive southern European economies, such as Spain and Italy, where governments have had to push through hefty spending cuts to get their borrowing under control, have been in recession for over a year. But growth in Germany and France came in at a disappointing 0.2%.
More recent data suggests that both core eurozone economies have continued to skirt recession during the autumn.
Retail sales in Germany shrank 2.8% in October versus the previous month, down 0.8% from a year earlier, according to data released on Friday. Analystshad expected the country to record unchanged or moderately growing sales.
Meanwhile, separate data showed consumer spendingin France shrank 0.2% in October versus the previousmonth, with spending on cars and other durable goods hardest hit.
Contraction 'inevitable'
The sharp slowdown in the eurozone's consumer price index , to 2.2% in November, is also symptomatic of the weakness of spending.
However, the inflation data may also open the door to further measures by the ECBto boost the economy, as theindex fell much closer to the central bank's 2% targetrate.
"We have not yet emerged from the crisis," said Mr Draghi, speaking on pan-European radio. "The recovery of the eurozone will certainly begin in the second half of 2013.
"It's true that the budgetaryconsolidation entails a short-term contraction of economic activity, but this budgetary consolidation is inevitable."
Despite Mr Draghi's warning, and the generally poor state of the eurozone economy, markets have begun to take a far more sanguine view of the single currency's future.
Italy's implicit cost of borrowing in the financial markets has fallen to its lowest level in two years, dropping to an implied interest rate of about 4.5% for 10-year debt.
Spain is able to borrow frommarkets at a 10-year rate of about 5.5% - far below the 7%-8% rate being demanded over the summer.
Mr Draghi conceded that the announcement of the ECB's willingness to buy up potentially unlimited amounts of government debt had boosted market confidence, even though noeurozone government had actually taken up the ECB's offer yet.
Thursday 29 November 2012
List of leading hotel in kenya
Kenya hotels can be grouped as either vacation hotels, town hotels, resorts, lodges or country hotels. Each category has a rating system which is determined by the establishment's facilities and the rates. Gamelodges and private campsites are popular among tourists on Kenya safaris , with campsites offering budget rates for backpackers.
During the high tourist season (July to October, mid-December to early-January) it is advisable to book in advance as the best hotels in Kenya usually fill up fast. Check out our top Kenya hotels HOTEL INTER-CONTINENTAL NAIROBI
Hotel Inter-Continental Nairobi is located two minutes walk from the city centreand adjacent to Uhuru Park and Parliament gardens and the Kenyatta International Conference Centre. This 440 room hotel is extremely popular with business traveller and was recently renovated. Secure multi-storey car park and casino available.
Contact:
Hotel Inter-Continental
City Hall Way
P.O. Box 30353
Nairobi.
Telephone 335550
Fax 337854 / 214617 / 210675
SAFARI PARK HOTEL & CASINO
Set on a sprawing 64 acres of beautifully landscaped gardens, the Safari Park Hotel and Casino, Nairobi Kenya is a luxurious business and Pleasure resortwith 204 rooms of spacious, elegant. 5 star accommodation. Seven executive restaurants offer a large variety of internationalcuisine from African, Japanese nd Indian to French, Chinese and ltialian.
The Hotel's vast entertainment and leisure options include the Club Sting Piano Bar and a discotheque, the nightly abaret show by Safari dancers, a plush fitness club, three outdoor tennis courts. two squash courts, a world class casino and the largest swimming pool in Africa.
Contact:
Safari Park Hotel & Casino
Kasarani off Thika Road.
P.O. Box 45038
Nairobi, Kenya
Telephone 802493. 222846.
Town Office Kimathi House.
Telephone; 21 6070
Fax 802477
GRAND REGENCY HOTEL
The Grand Regency Hotel isan elegant ultra modern luxury atrium Hotel oil a prime site overlooking Central Park and only 20 minutes from the airport.
The hotel has:
*. 300 air-conditioned rooms and suites
*. Multi-channel satellite TV 124-hr room service
*. In-house laundry, dry cleaning and valet service
*. smoke-detectors and water sprinklers
*. Shopping Arcade
*. Reuters
*. Serviced business centre 'Parking for 200 vehicles
*. Several restaurants, terraces and cocktail lounges
*. Fully equipped fitness centre
*. Heated covered all-weather swimming pool
*. Cabaret
*. A large conference/Ballroom, pairsseveral meeting and pre-function rooms.
Contact:
Grand Regency Hotel
P.O. Box 57549
Nairobi.
Telephone 21 1 199
Fax 217120
FIG TREE HOTEL LIMITED Quiet Hotel, 1 kilometre from the city centre - along Ngara/Muranga Roads. The Hotel has 45 self contained rooms with shower and telephone. The Hotel has well stocked bar, restaurant with both Africans and continental dishes. It has also ample parking area.
Reservations:
Fig Tree Hotel Limited
P.O. Box 31938
Nairobi
Telephone 743677, 744207,742148
Fax: 254 - 2 - 751436
HOTEL GRETON
The Hotel Greton is a first-class hotel situated in the heart of the city. It. offers 52rooms with telephones shower with hot water and self control music. It is between casino and Odeon cinemas and it is also next toEmbassy cinema. Hotel Greton has reasonable rates and considers special discounts for children up to 2 years.
Contact:
P.O. Box 55909
Nairobi, Kenya
Telephone 336648, 331865
JACARANDA HOTEL
Peaceful garden hotel in thefashionable suburb, 12 minutes drive from the city centre. Large swimming pool, garden bar excellent food, and 130 furnished rooms with bath and phone.In our opinion Jacaranda offers excellent value and isan ideal combination with a Safari, Hertz and UTC Safari centre.
Contact:
Nairobi Jacaranda Hotel
Westland Road
Jacaranda Building
P.O. Box 47557
Nairobi
Tel 335807
Fax 543810
Telex 22146
HOTEL ESPERIA is quiet andcomfortable Hotel away from the noisy city centre and YET in the City - It has self contained rooms and YET very fair rates.
Contact:
P.O. Box 14642
Nairobi
Tel. 74281 8
MAYFAIR COURT HOTEL
Mayfair Court Hotel is only seven minutes drive from the city centre. It is at this site the original Mayfair Hotel which was opened in 1949. In the eighties the Hotel building was used by the US International University which was movedto another site in 1 990. Conservation corporation of East Africa has returned this magnificent Hotel to its former glory. The Hotel offering 4-star service and accommodation. The facilities include:- 2 swimming pools, a conference centre for up to 30 people, a special terrace bar called "Mischief", casino of high standard etc.
Reservations:
Mayfair Court Hotel
P.O. Box 74957
Nairobi, Kenya
Telephone 746707/8/9 748258 748278 740920
Fax 748823
Tlx 25182
WINDSO KE A4/A5
During the high tourist season (July to October, mid-December to early-January) it is advisable to book in advance as the best hotels in Kenya usually fill up fast. Check out our top Kenya hotels HOTEL INTER-CONTINENTAL NAIROBI
Hotel Inter-Continental Nairobi is located two minutes walk from the city centreand adjacent to Uhuru Park and Parliament gardens and the Kenyatta International Conference Centre. This 440 room hotel is extremely popular with business traveller and was recently renovated. Secure multi-storey car park and casino available.
Contact:
Hotel Inter-Continental
City Hall Way
P.O. Box 30353
Nairobi.
Telephone 335550
Fax 337854 / 214617 / 210675
SAFARI PARK HOTEL & CASINO
Set on a sprawing 64 acres of beautifully landscaped gardens, the Safari Park Hotel and Casino, Nairobi Kenya is a luxurious business and Pleasure resortwith 204 rooms of spacious, elegant. 5 star accommodation. Seven executive restaurants offer a large variety of internationalcuisine from African, Japanese nd Indian to French, Chinese and ltialian.
The Hotel's vast entertainment and leisure options include the Club Sting Piano Bar and a discotheque, the nightly abaret show by Safari dancers, a plush fitness club, three outdoor tennis courts. two squash courts, a world class casino and the largest swimming pool in Africa.
Contact:
Safari Park Hotel & Casino
Kasarani off Thika Road.
P.O. Box 45038
Nairobi, Kenya
Telephone 802493. 222846.
Town Office Kimathi House.
Telephone; 21 6070
Fax 802477
GRAND REGENCY HOTEL
The Grand Regency Hotel isan elegant ultra modern luxury atrium Hotel oil a prime site overlooking Central Park and only 20 minutes from the airport.
The hotel has:
*. 300 air-conditioned rooms and suites
*. Multi-channel satellite TV 124-hr room service
*. In-house laundry, dry cleaning and valet service
*. smoke-detectors and water sprinklers
*. Shopping Arcade
*. Reuters
*. Serviced business centre 'Parking for 200 vehicles
*. Several restaurants, terraces and cocktail lounges
*. Fully equipped fitness centre
*. Heated covered all-weather swimming pool
*. Cabaret
*. A large conference/Ballroom, pairsseveral meeting and pre-function rooms.
Contact:
Grand Regency Hotel
P.O. Box 57549
Nairobi.
Telephone 21 1 199
Fax 217120
FIG TREE HOTEL LIMITED Quiet Hotel, 1 kilometre from the city centre - along Ngara/Muranga Roads. The Hotel has 45 self contained rooms with shower and telephone. The Hotel has well stocked bar, restaurant with both Africans and continental dishes. It has also ample parking area.
Reservations:
Fig Tree Hotel Limited
P.O. Box 31938
Nairobi
Telephone 743677, 744207,742148
Fax: 254 - 2 - 751436
HOTEL GRETON
The Hotel Greton is a first-class hotel situated in the heart of the city. It. offers 52rooms with telephones shower with hot water and self control music. It is between casino and Odeon cinemas and it is also next toEmbassy cinema. Hotel Greton has reasonable rates and considers special discounts for children up to 2 years.
Contact:
P.O. Box 55909
Nairobi, Kenya
Telephone 336648, 331865
JACARANDA HOTEL
Peaceful garden hotel in thefashionable suburb, 12 minutes drive from the city centre. Large swimming pool, garden bar excellent food, and 130 furnished rooms with bath and phone.In our opinion Jacaranda offers excellent value and isan ideal combination with a Safari, Hertz and UTC Safari centre.
Contact:
Nairobi Jacaranda Hotel
Westland Road
Jacaranda Building
P.O. Box 47557
Nairobi
Tel 335807
Fax 543810
Telex 22146
HOTEL ESPERIA is quiet andcomfortable Hotel away from the noisy city centre and YET in the City - It has self contained rooms and YET very fair rates.
Contact:
P.O. Box 14642
Nairobi
Tel. 74281 8
MAYFAIR COURT HOTEL
Mayfair Court Hotel is only seven minutes drive from the city centre. It is at this site the original Mayfair Hotel which was opened in 1949. In the eighties the Hotel building was used by the US International University which was movedto another site in 1 990. Conservation corporation of East Africa has returned this magnificent Hotel to its former glory. The Hotel offering 4-star service and accommodation. The facilities include:- 2 swimming pools, a conference centre for up to 30 people, a special terrace bar called "Mischief", casino of high standard etc.
Reservations:
Mayfair Court Hotel
P.O. Box 74957
Nairobi, Kenya
Telephone 746707/8/9 748258 748278 740920
Fax 748823
Tlx 25182
WINDSO KE A4/A5
World Bank gives Gaza a grant to Improve Water, Services
The $6.4 million World Bank grant in one of the most crowded areas where there’s a “critical deterioration of the Gaza water system” will be augmented by $11.1 million in financing from the Islamic Development Bank , the Washington, D.C.-based organization said in a statement.
“We are concerned aboutthe lack of clean water supply and the deterioration in the quality of water resourcesin the Gaza Strip, one of the most densely populated areas on Earth,” World Bank West Bank and Gaza director Mariam Sherman said. The population of Gaza is 1.6 million.
Gaza’s groundwater is over-utilized, badly contaminated and ‘‘the over-drafting of the sole aquifer is causing a decline of the groundwater table and a deterioration of water quality,’’ the World Bank said. ‘‘Most sewage is returned to lagoons, wadis and the sea. The area is now choked with untreated sewage, threatening Palestinian health and life as well as remaining water resources and the environment.’’
The funds will help construct water tanks to collect and blend water from different sources to improve the quality and efficiency of Gaza water and wastewater and to connect major well fields supplying Gaza’s middle and southern areas, it said. Water distribution networks will also be upgraded.
“We are concerned aboutthe lack of clean water supply and the deterioration in the quality of water resourcesin the Gaza Strip, one of the most densely populated areas on Earth,” World Bank West Bank and Gaza director Mariam Sherman said. The population of Gaza is 1.6 million.
Gaza’s groundwater is over-utilized, badly contaminated and ‘‘the over-drafting of the sole aquifer is causing a decline of the groundwater table and a deterioration of water quality,’’ the World Bank said. ‘‘Most sewage is returned to lagoons, wadis and the sea. The area is now choked with untreated sewage, threatening Palestinian health and life as well as remaining water resources and the environment.’’
The funds will help construct water tanks to collect and blend water from different sources to improve the quality and efficiency of Gaza water and wastewater and to connect major well fields supplying Gaza’s middle and southern areas, it said. Water distribution networks will also be upgraded.
Spanish Banks Agree to Layoffs and Other Cuts to Receive Rescue Funds in Return
Although the Spanish government can tap into more of the money to help other troubled banks stay afloat, the government has said it will not need the fullamount in any case.
Presenting its restructuring plan on Wednesday, Bankiasaid it would lay off 6,000 employees, or 28 percent of its work force, and cut itsbranch network by 39 percent. The bank predicted it would return to profit next year and reach earnings of 1.5 billioneuros ($1.9 billion) by 2015.
Still, the Spanish government has yet to draw a line under its banking crisis. The next step is expected in December with the creationof a so-called bad bank, which the government is trying to create by teaming up with private investors as equity holders. But the valuation of the bad bank's assets has proved to be a thorny issue because of the effect such valuations couldhave on other real estate assets. The most significant cuts will be made by Bankia, thegiant lender whose collapse and request for 19billion euros, or $25 billion,in additional capital last May led the Spanish government to negotiate a banking rescue of up to 100 billion euros ($130 billion) a month later.
The money approved Wednesday is part of that negotiated amount and willcome from the European Stability Mechanism, the rescue fund for the euro zone.
JoaquÃn Almunia, the European Union's antitrust commissioner, said the approval of the restructuring plans of the four banks - Bankia, Novagalicia Banco, Catalunya Banc and Banco de Valencia - was "a milestone."
Presenting its restructuring plan on Wednesday, Bankiasaid it would lay off 6,000 employees, or 28 percent of its work force, and cut itsbranch network by 39 percent. The bank predicted it would return to profit next year and reach earnings of 1.5 billioneuros ($1.9 billion) by 2015.
Still, the Spanish government has yet to draw a line under its banking crisis. The next step is expected in December with the creationof a so-called bad bank, which the government is trying to create by teaming up with private investors as equity holders. But the valuation of the bad bank's assets has proved to be a thorny issue because of the effect such valuations couldhave on other real estate assets. The most significant cuts will be made by Bankia, thegiant lender whose collapse and request for 19billion euros, or $25 billion,in additional capital last May led the Spanish government to negotiate a banking rescue of up to 100 billion euros ($130 billion) a month later.
The money approved Wednesday is part of that negotiated amount and willcome from the European Stability Mechanism, the rescue fund for the euro zone.
JoaquÃn Almunia, the European Union's antitrust commissioner, said the approval of the restructuring plans of the four banks - Bankia, Novagalicia Banco, Catalunya Banc and Banco de Valencia - was "a milestone."
Tuesday 27 November 2012
list of banks in france
The Banque de France is the central bank of France; itis linked to the European Central Bank (ECB). Its maincharge is to implement the interest rate policy of the European System of Central Banks (ESCB). It is headquartered in Paris.
On 1 June 1998, a new institution was created, the European Central Bank (ECB), charged with steeringthe single monetary policy for the euro. The body formed by the ECB, and thenational central banks (NCB)of all the member states of the European Union, constitute the European System of Central Banks (ESCB) *.
AAREAL BANK AG - 18 989 www.aareal-bank.com
*.
ABC INTERNATIONAL BANK PLC - 18 979 www.arabbanking.com
*.
Al Khaliji France S.A.- 41 829 www.alkhaliji.com
*.
Allianz Banque - 12 240 www.allianzbanque.fr
*.
ALLIED IRISH BANKS plc - 15 318 www.aib.ie
*.
ASSOCIATION FRANCAISE DES BANQUES - 1 www.afb.fr
*.
Attijariwafa bank Europe - 23 890 www.attijariwafabank.com
*.
AXA BANQUE - 12 548 www.axabanque.fr
*.
AXA Banque Financement - 25 080
*.
BANCA CARIGE S.p.A.- Cassa di Risparmio di Genova e Imperia - 12 088 www.carige.it
*.
BANCA POPOLARE DI SONDRIO (SUISSE) - 14 908 www.popso.ch
*.
BANCA REGIONALE EUROPEA - 14 818 www.brebanca.it
*.
BANCO BILBAO VIZCAYA ARGENTARIA - 41 189
*.
BANCO BPI - 12 589
*.
BANCO DE SABADELL - 19 229 www.bancsabadell.com
*.
BANCO DO BRASIL - 41 139 www.bancobrasil.com
*.
BANCO GUIPUZCOANO S.A. - 12 508
*.
BANCO SANTANDERSA - 44 729 www.gruposantander.es
*.
BANK AUDI SARADAR FRANCE - 18 089
*.
Bank Julius Baer (Monaco) S.A.M. - 14 508 www.juliusbaer.com
*.
BANK MELLI IRAN - 41 259
*.
BANK OF AMERICA N.A . - 41 219 www.bankofamerica.com
*.
BANK OF CHINA PARIS BRANCH - 18769
*.
BANK OF INDIA - 14 879
*.
BANK OF SCOTLAND- 13 648 www.bankofscotland.com
*.
Bank of Tokyo-Mitsubishi UFJ, Ltd. (The) - 41 249 www.btm.co.jp
*.
BANK POLSKA KASAOPIEKI SPOLKA AKCYJNA - 41 239 www.pekao.com.pl
*.
BANK SADERAT IRAN - 44 269
*.
BANK SEPAH - 17 799
*.
BANK TEJARAT - 17 579
*.
BANQUE ACCORD - 12 869 www.banque-accord.com
*.
BANQUE AIG - 10 968
*.
BANQUE BCP - 12 579 www.banquebcp.fr
*.
BANQUE BIA - 12 179
*.
BANQUE CALEDONIENNE D'INVESTISSEMENT-B.C.I. - 17 499 www.bci.nc
*.
BANQUE CANTONALE DE GENEVE (FRANCE) SA - 12 468 www.bcgef.fr
*.
BANQUE CENTRALE DE COMPENSATION - 17 519
*.
BANQUE CHAABI DU MAROC - 41 439
*.
BANQUE CHABRIERES - 24 659
*.
BANQUE CHAIX - 10178 www.banque-chaix.fr
*.
BANQUE CHALUS - 10 188
*.
Banque CIC Est - 30087 www.cic.fr
*.
Banque CIC Nord Ouest - 30 027 www.cic.fr
*.
Banque CIC Ouest -30 047 www.cic.fr
*.
BANQUE COMMERCIALE DU MARCHE NORD EUROPE - 13 298 www.bcmn.fr
*.
BANQUE COMMERCIALE POUR LE MARCHE DE L'ENTREPRISE - 18 829 www.bcme.fr
*.
BANQUE COURTOIS-SUCCESSEURS DE L'ANCIENNE MAISON COURTOISET CIE DEPUIS 1760- 10 268 www.banque-courtois.fr
*.
BANQUE D'ESCOMPTE - 44 149 www.escompte.com
*.
BANQUE D'ORSAY - 19 089 www.banquedorsay.fr
*.
BANQUE DE BRETAGNE - 40 168 www.banque-de-bretagne.fr
*.
BANQUE DE GESTION EDMOND DE ROTHSCHILD MONACO - 11 668
*.
BANQUE DE GESTION PRIVEE INDOSUEZ - 43 799 www.bgpi.com
*.
BANQUE DE L'ECONOMIE DU COMMERCE ET DE LA MONETIQUE - 11899 www.becm.fr
*.
BANQUE DE L'EUROPE MERIDIONALE-BEMO - 17 619
*.
BANQUE DE LA REUNION - 12 169 www.banquedelareunion.fr
*.
BANQUE DE NOUVELLE CALEDONIE - 14 889
*.
BANQUE DE POLYNESIE - 12 149 www.sg-bdp.pf
*.
BANQUE DE REALISATIONS DE GESTION ET DE FINANCEMENT - REGEFI - 11 210
*.
BANQUE DE SAINT-PIERRE ET MIQUELON - 11 749
*.
BANQUE DE SAVOIE- 10 548 www.banque-de-savoie.fr
*.
BANQUE DE TAHITI - BDT - 12 239 www.banque-tahiti.pf
*.
BANQUE DE VIZILLE- 13 999 www.banquedevizille.fr
*.
BANQUE DE WALLISET FUTUNA - 11 408
*.
BANQUE DEGROOF& PHILIPPE - 43 030 www.degroofphilippe.fr
*.
BANQUE DELUBAC ET CIE - 12 879 www.delubac.fr
*.
BANQUE DES ANTILLES FRANCAISES -BDAF - 41 839 www.bdaf.fr
*.
BANQUE DU BATIMENT ET DES TRAVAUX PUBLICS-BTP BANQUE - 30 258 www.btp-banque.fr
*.
BANQUE DU CREDITMUTUEL ILE-DE-FRANCE - BCMI - 11628
*.
BANQUE DUPUY, DE PARSEVAL - 12 939 www.bdp.fr
*.
BANQUE EDEL SNC -13 149 www.banque-edel.fr
*.
BANQUE ESPIRITO SANTO ET DE LA VENETIE - 43 659 www.besv.fr
*.
BANQUE FEDERATIVE DU CREDIT MUTUEL - 11 808 www.creditmutuel.fr
*.
BANQUE FIDUCIAL -13 179
*.
BANQUE FRANCAISE- 41 599 www.banquefrancaise.fr
*.
BANQUE FRANCAISECOMMERCIALE ANTILLES-GUYANE - BFC ANTILLES-GUYANE - 18 729 www.bfc-ag.com
*.
BANQUE FRANCAISECOMMERCIALE OCEAN INDIEN - BFC OCEAN INDIEN - 18 719 www.bfcoi.com
*.
BANQUE INTERNATIONALE DE COMMERCE-BRED - 40 398
*.
Banque Jean-Philippe HOTTINGUER et Cie - 11 438
*.
BANQUE J. SAFRA (MONACO) SA - 24 349 www.gottardo.com
*.
BANQUE KOLB - 13 259 www.banque-kolb.fr
*.
BANQUE LAYDERNIER - 10 228 www.banque-laydernier.fr
*.
Banque Leonardo - 21 990 www.banqueleonardo.com
*.
BANQUE MARTIN MAUREL - 13 369 www.martinmaurel.com
*.
BANQUE MARZE - 13379 www.banque-marze.fr
*.
BANQUE MICHEL INCHAUSPE - BAMI - 17 959
*.
BANQUE MISR - 18 569 www.banquemisr.fr
*.
BANQUE MONETAIRE ET FINANCIERE - 18 879
*.
BANQUE NATIONALE DE PARIS INTERCONTINENTALE - 14 898
*.
BANQUE NEUFLIZE OBC - 30 788 www.banque-nsmd.fr
On 1 June 1998, a new institution was created, the European Central Bank (ECB), charged with steeringthe single monetary policy for the euro. The body formed by the ECB, and thenational central banks (NCB)of all the member states of the European Union, constitute the European System of Central Banks (ESCB) *.
AAREAL BANK AG - 18 989 www.aareal-bank.com
*.
ABC INTERNATIONAL BANK PLC - 18 979 www.arabbanking.com
*.
Al Khaliji France S.A.- 41 829 www.alkhaliji.com
*.
Allianz Banque - 12 240 www.allianzbanque.fr
*.
ALLIED IRISH BANKS plc - 15 318 www.aib.ie
*.
ASSOCIATION FRANCAISE DES BANQUES - 1 www.afb.fr
*.
Attijariwafa bank Europe - 23 890 www.attijariwafabank.com
*.
AXA BANQUE - 12 548 www.axabanque.fr
*.
AXA Banque Financement - 25 080
*.
BANCA CARIGE S.p.A.- Cassa di Risparmio di Genova e Imperia - 12 088 www.carige.it
*.
BANCA POPOLARE DI SONDRIO (SUISSE) - 14 908 www.popso.ch
*.
BANCA REGIONALE EUROPEA - 14 818 www.brebanca.it
*.
BANCO BILBAO VIZCAYA ARGENTARIA - 41 189
*.
BANCO BPI - 12 589
*.
BANCO DE SABADELL - 19 229 www.bancsabadell.com
*.
BANCO DO BRASIL - 41 139 www.bancobrasil.com
*.
BANCO GUIPUZCOANO S.A. - 12 508
*.
BANCO SANTANDERSA - 44 729 www.gruposantander.es
*.
BANK AUDI SARADAR FRANCE - 18 089
*.
Bank Julius Baer (Monaco) S.A.M. - 14 508 www.juliusbaer.com
*.
BANK MELLI IRAN - 41 259
*.
BANK OF AMERICA N.A . - 41 219 www.bankofamerica.com
*.
BANK OF CHINA PARIS BRANCH - 18769
*.
BANK OF INDIA - 14 879
*.
BANK OF SCOTLAND- 13 648 www.bankofscotland.com
*.
Bank of Tokyo-Mitsubishi UFJ, Ltd. (The) - 41 249 www.btm.co.jp
*.
BANK POLSKA KASAOPIEKI SPOLKA AKCYJNA - 41 239 www.pekao.com.pl
*.
BANK SADERAT IRAN - 44 269
*.
BANK SEPAH - 17 799
*.
BANK TEJARAT - 17 579
*.
BANQUE ACCORD - 12 869 www.banque-accord.com
*.
BANQUE AIG - 10 968
*.
BANQUE BCP - 12 579 www.banquebcp.fr
*.
BANQUE BIA - 12 179
*.
BANQUE CALEDONIENNE D'INVESTISSEMENT-B.C.I. - 17 499 www.bci.nc
*.
BANQUE CANTONALE DE GENEVE (FRANCE) SA - 12 468 www.bcgef.fr
*.
BANQUE CENTRALE DE COMPENSATION - 17 519
*.
BANQUE CHAABI DU MAROC - 41 439
*.
BANQUE CHABRIERES - 24 659
*.
BANQUE CHAIX - 10178 www.banque-chaix.fr
*.
BANQUE CHALUS - 10 188
*.
Banque CIC Est - 30087 www.cic.fr
*.
Banque CIC Nord Ouest - 30 027 www.cic.fr
*.
Banque CIC Ouest -30 047 www.cic.fr
*.
BANQUE COMMERCIALE DU MARCHE NORD EUROPE - 13 298 www.bcmn.fr
*.
BANQUE COMMERCIALE POUR LE MARCHE DE L'ENTREPRISE - 18 829 www.bcme.fr
*.
BANQUE COURTOIS-SUCCESSEURS DE L'ANCIENNE MAISON COURTOISET CIE DEPUIS 1760- 10 268 www.banque-courtois.fr
*.
BANQUE D'ESCOMPTE - 44 149 www.escompte.com
*.
BANQUE D'ORSAY - 19 089 www.banquedorsay.fr
*.
BANQUE DE BRETAGNE - 40 168 www.banque-de-bretagne.fr
*.
BANQUE DE GESTION EDMOND DE ROTHSCHILD MONACO - 11 668
*.
BANQUE DE GESTION PRIVEE INDOSUEZ - 43 799 www.bgpi.com
*.
BANQUE DE L'ECONOMIE DU COMMERCE ET DE LA MONETIQUE - 11899 www.becm.fr
*.
BANQUE DE L'EUROPE MERIDIONALE-BEMO - 17 619
*.
BANQUE DE LA REUNION - 12 169 www.banquedelareunion.fr
*.
BANQUE DE NOUVELLE CALEDONIE - 14 889
*.
BANQUE DE POLYNESIE - 12 149 www.sg-bdp.pf
*.
BANQUE DE REALISATIONS DE GESTION ET DE FINANCEMENT - REGEFI - 11 210
*.
BANQUE DE SAINT-PIERRE ET MIQUELON - 11 749
*.
BANQUE DE SAVOIE- 10 548 www.banque-de-savoie.fr
*.
BANQUE DE TAHITI - BDT - 12 239 www.banque-tahiti.pf
*.
BANQUE DE VIZILLE- 13 999 www.banquedevizille.fr
*.
BANQUE DE WALLISET FUTUNA - 11 408
*.
BANQUE DEGROOF& PHILIPPE - 43 030 www.degroofphilippe.fr
*.
BANQUE DELUBAC ET CIE - 12 879 www.delubac.fr
*.
BANQUE DES ANTILLES FRANCAISES -BDAF - 41 839 www.bdaf.fr
*.
BANQUE DU BATIMENT ET DES TRAVAUX PUBLICS-BTP BANQUE - 30 258 www.btp-banque.fr
*.
BANQUE DU CREDITMUTUEL ILE-DE-FRANCE - BCMI - 11628
*.
BANQUE DUPUY, DE PARSEVAL - 12 939 www.bdp.fr
*.
BANQUE EDEL SNC -13 149 www.banque-edel.fr
*.
BANQUE ESPIRITO SANTO ET DE LA VENETIE - 43 659 www.besv.fr
*.
BANQUE FEDERATIVE DU CREDIT MUTUEL - 11 808 www.creditmutuel.fr
*.
BANQUE FIDUCIAL -13 179
*.
BANQUE FRANCAISE- 41 599 www.banquefrancaise.fr
*.
BANQUE FRANCAISECOMMERCIALE ANTILLES-GUYANE - BFC ANTILLES-GUYANE - 18 729 www.bfc-ag.com
*.
BANQUE FRANCAISECOMMERCIALE OCEAN INDIEN - BFC OCEAN INDIEN - 18 719 www.bfcoi.com
*.
BANQUE INTERNATIONALE DE COMMERCE-BRED - 40 398
*.
Banque Jean-Philippe HOTTINGUER et Cie - 11 438
*.
BANQUE J. SAFRA (MONACO) SA - 24 349 www.gottardo.com
*.
BANQUE KOLB - 13 259 www.banque-kolb.fr
*.
BANQUE LAYDERNIER - 10 228 www.banque-laydernier.fr
*.
Banque Leonardo - 21 990 www.banqueleonardo.com
*.
BANQUE MARTIN MAUREL - 13 369 www.martinmaurel.com
*.
BANQUE MARZE - 13379 www.banque-marze.fr
*.
BANQUE MICHEL INCHAUSPE - BAMI - 17 959
*.
BANQUE MISR - 18 569 www.banquemisr.fr
*.
BANQUE MONETAIRE ET FINANCIERE - 18 879
*.
BANQUE NATIONALE DE PARIS INTERCONTINENTALE - 14 898
*.
BANQUE NEUFLIZE OBC - 30 788 www.banque-nsmd.fr
list of banks in uganda
The Banking sector is growing and it continues to grow as the central bank is yet to license more commercial banks. Uganda now has over 20 commercialbanks in operation
1. Bank of Africa - It started as Sembule Investment Bank in 1984. In 1996 it became Allied Bank courtesy of the new owners then. It is now Bank of Africa with its HQson Jinja road.
2. Bank of Baroda - Started Operations in Uganda wayback in 1953. Its head office is located on Kampala Road next to Barclays Bank and anotherbranch is right next to Club Rouge. The latest branch to be opened in Kampala is right after Kampala International University. It is listed on the Uganda Securities Exchange.
3. Barclays Bank - Next to Bank of Baroda on Kampala road with various branches in the city centre has been in Uganda for over 70 years. One of its products are featured here Barclays Prestige Service
4. Cairo International Bank - On Green land towers opposite Bank of Uganda started its operations in 1995.More on the bank from the CIB Website
5. Centenary Bank - Formerly Centenary Rural Development Bank (CERUDEB) and now Centenary Bank is located on plot 7 Talenta House on Entebbe Road started its operations in 1983 as a credit trust and ten years later it was licensed into a full commercial bank. Centenary Bank is the largest indigenous bank with an estimated asset base of over USD 220 Million. The bank employsover 1,000 people. To contact Centenary Bank call +256 414 346856,+256 414 232 393.
6. Citi Bank - On Ternan Avenue next to British Airways. An Ideal home for Corporate Customers.
7. Crane Bank - Founded in 1995 and it is the seventh largest bank in Uganda as of Feb.2009.
8. DFCU Bank - Development Finance Company of Uganda started in 1964 as a development finance company and in 2005 it became a commercial bank. Its HQs are located on plot 2 Jinja road. It is now celebrating 45 years of progress
9. Diamond Trust Bank - In 1997 is when it became a fully fledged commercial bank with about 9 branches across its network.
10. Eco Bank Uganda -
11. Equity Bank Uganda - It was created in 2008 when the Equity Bank Group purchased Uganda Microfinance Limited. Equity Bank nowemploys about 500 people, listed on the Uganda Securities Exchange under the symbol EQTY and it is the13th largest commercial bank as of June 2009.
12. Fina Bank - Started its operations in 2008 with 2branches in Kampala plusone Mbarara and Kasese. Notable for cross border money transfer between Kenya, Rwanda and Uganda.
13. Global Trust Bank - Started its operations in 2008 with its headquarters on Kampalaroad adjacent to Kenya Commercial Bank. Its majority shareholders areNigeria's largest Insurance company, Industrial and General Insurance Co. Plc(IGI) and National Insurance Company(NIC)
14. Housing Finance Bank - Founded in 1967 as a mortgage bank and in January 2008 it became acommercial bank. It has an asset base estimated atUSD 80Million, Housing Finance Bank was the 11th largest commercial bank in Uganda as of April, 2009.
15. Kenya Commercial Bank -
16. National Bank of Commerce -
17. Orient Bank -
18. Post Bank Uganda -
19. Stanbic Bank U Ltd -
20. Standard Chartered Bank
1. Bank of Africa - It started as Sembule Investment Bank in 1984. In 1996 it became Allied Bank courtesy of the new owners then. It is now Bank of Africa with its HQson Jinja road.
2. Bank of Baroda - Started Operations in Uganda wayback in 1953. Its head office is located on Kampala Road next to Barclays Bank and anotherbranch is right next to Club Rouge. The latest branch to be opened in Kampala is right after Kampala International University. It is listed on the Uganda Securities Exchange.
3. Barclays Bank - Next to Bank of Baroda on Kampala road with various branches in the city centre has been in Uganda for over 70 years. One of its products are featured here Barclays Prestige Service
4. Cairo International Bank - On Green land towers opposite Bank of Uganda started its operations in 1995.More on the bank from the CIB Website
5. Centenary Bank - Formerly Centenary Rural Development Bank (CERUDEB) and now Centenary Bank is located on plot 7 Talenta House on Entebbe Road started its operations in 1983 as a credit trust and ten years later it was licensed into a full commercial bank. Centenary Bank is the largest indigenous bank with an estimated asset base of over USD 220 Million. The bank employsover 1,000 people. To contact Centenary Bank call +256 414 346856,+256 414 232 393.
6. Citi Bank - On Ternan Avenue next to British Airways. An Ideal home for Corporate Customers.
7. Crane Bank - Founded in 1995 and it is the seventh largest bank in Uganda as of Feb.2009.
8. DFCU Bank - Development Finance Company of Uganda started in 1964 as a development finance company and in 2005 it became a commercial bank. Its HQs are located on plot 2 Jinja road. It is now celebrating 45 years of progress
9. Diamond Trust Bank - In 1997 is when it became a fully fledged commercial bank with about 9 branches across its network.
10. Eco Bank Uganda -
11. Equity Bank Uganda - It was created in 2008 when the Equity Bank Group purchased Uganda Microfinance Limited. Equity Bank nowemploys about 500 people, listed on the Uganda Securities Exchange under the symbol EQTY and it is the13th largest commercial bank as of June 2009.
12. Fina Bank - Started its operations in 2008 with 2branches in Kampala plusone Mbarara and Kasese. Notable for cross border money transfer between Kenya, Rwanda and Uganda.
13. Global Trust Bank - Started its operations in 2008 with its headquarters on Kampalaroad adjacent to Kenya Commercial Bank. Its majority shareholders areNigeria's largest Insurance company, Industrial and General Insurance Co. Plc(IGI) and National Insurance Company(NIC)
14. Housing Finance Bank - Founded in 1967 as a mortgage bank and in January 2008 it became acommercial bank. It has an asset base estimated atUSD 80Million, Housing Finance Bank was the 11th largest commercial bank in Uganda as of April, 2009.
15. Kenya Commercial Bank -
16. National Bank of Commerce -
17. Orient Bank -
18. Post Bank Uganda -
19. Stanbic Bank U Ltd -
20. Standard Chartered Bank
Safaricom launches M-Shwari mobile banking service, banks fears
The mobile firm on Tuesdaylaunched a micro-loan product dubbed M-Shwari,which will allow its 19 million subscribers to save and borrow money from their mobile phones using the M-Pesa platform.
It is being run in partnership with Commercial Bank of Africa, which will provide the banking services.
The service will allow saving of as little as Sh1 andborrowing of a minimum Sh100, with interest rates ranging from two to five per cent per year, depending on one’s savings.
Borrowers will also part with a one-off facilitation fee of 7.5 per cent of the borrowed amount. Subscribers can borrow up to Sh20,000, payable in 30 days.
Safaricom joins Airtel which in May launched a similar product, though on a smaller scale, through a partnership with micro lender Faulu Kenya.
Airtel’s service, known as Kopa Chapaa, allows subscribers to get loans of between Sh100 and Sh10,000 charged at an interest of 3-10 per cent.
Speaking at the launch, Safaricom CEO Bob Collymore said that the product would enable low-income earners access affordable loans based on their savings.
These services are promising to bring competition in the short term lending market that has been dominated by shylocks.
Banks have, however, downplayed the entry of mobile operators in the lending industry on grounds that they are targeting the unbanked population.
“Product innovation, particularly in the mobile banking space, will continue to be a differentiating factor for thesector as banks move to increase accessibility to financial services. You therefore would expect to see more linkages with various telecom providers, as we have seen with Commercial Bank of Africa and Safaricom on the M-Shwari product,” Kenya Bankers Association boss Habil Olaka said in an emailinterview.
To activate the M-Shwari account, one will be required to go to the M-pesa menu, select the account option, choose the update menu option and then enter their M-pesa PIN number.
An M-Shwari will automatically be included in the M-pesa menu.
“It is simple. There are no ledger fees, no limits on thefrequency of withdrawals, no minimum operating balance and no charges on deposits for M-Pesa to M-Shwari account,” said Mr Collymore.
“Loan defaulters will be blacklisted and will not be allowed to borrow for five years,” said the head of National Payments System, Mr Stephen Nduati.
Preferred pace
M-Shwari creates a platformon which customers can save at their preferred pace.
“It creates a safe environment for customers to borrow small amounts and links the amounts of credit available to the ability to save,” Vodafone director of Mobile Money, Mr Michael Joseph said.
It is being run in partnership with Commercial Bank of Africa, which will provide the banking services.
The service will allow saving of as little as Sh1 andborrowing of a minimum Sh100, with interest rates ranging from two to five per cent per year, depending on one’s savings.
Borrowers will also part with a one-off facilitation fee of 7.5 per cent of the borrowed amount. Subscribers can borrow up to Sh20,000, payable in 30 days.
Safaricom joins Airtel which in May launched a similar product, though on a smaller scale, through a partnership with micro lender Faulu Kenya.
Airtel’s service, known as Kopa Chapaa, allows subscribers to get loans of between Sh100 and Sh10,000 charged at an interest of 3-10 per cent.
Speaking at the launch, Safaricom CEO Bob Collymore said that the product would enable low-income earners access affordable loans based on their savings.
These services are promising to bring competition in the short term lending market that has been dominated by shylocks.
Banks have, however, downplayed the entry of mobile operators in the lending industry on grounds that they are targeting the unbanked population.
“Product innovation, particularly in the mobile banking space, will continue to be a differentiating factor for thesector as banks move to increase accessibility to financial services. You therefore would expect to see more linkages with various telecom providers, as we have seen with Commercial Bank of Africa and Safaricom on the M-Shwari product,” Kenya Bankers Association boss Habil Olaka said in an emailinterview.
To activate the M-Shwari account, one will be required to go to the M-pesa menu, select the account option, choose the update menu option and then enter their M-pesa PIN number.
An M-Shwari will automatically be included in the M-pesa menu.
“It is simple. There are no ledger fees, no limits on thefrequency of withdrawals, no minimum operating balance and no charges on deposits for M-Pesa to M-Shwari account,” said Mr Collymore.
“Loan defaulters will be blacklisted and will not be allowed to borrow for five years,” said the head of National Payments System, Mr Stephen Nduati.
Preferred pace
M-Shwari creates a platformon which customers can save at their preferred pace.
“It creates a safe environment for customers to borrow small amounts and links the amounts of credit available to the ability to save,” Vodafone director of Mobile Money, Mr Michael Joseph said.
List of banks in Qatar
Qatar National Bank
Main Branch
Cornich Road
Tel:(+974) 440 7777
Fax: (+974) 441 5020
Website: http://www.qnb.com.qa
Email: ccsupport@qnb.com.qa
Commercial Bank of Qatar
Head Office
Cornich Road
Tel: (+974) 449 0000
Fax: (+97) 449 0070
Website: http://www.cbq.com.qa
Email: info@cbq.com.qa
Doha Bank
Main Branch
Doha
Tel: (+974) 445 6600
Fax: (+974) 441 6631
Website: http://www.dohabank.com.qa
Email: N/A
Ahli Bank QSC
Main Branch
Al Sadd
Tel: (+974) 800 2222
Fax: (+974) 423 2444
Website: http://www.ahlibank.com.qa
Email: info@ahlibank.com.qa
International Bank of Qatar
Main Branch
Al Sadd
Tel: (+974) 447 8000
Fax: N/A
Website: http://www.ibq.com.qa
Email: N/A
Qatar Islamic Bank
Head Office
Grand Hamad Street
Tel: (+974) 444 8444
Fax: (+974) 441 2700
Website: http://www.qib.com.qa
Email: info@qib.com.qa
Qatar International Islamic Bank
Main Branch
Grand Hamad Street
Tel: (+974) 462 5666
Fax: (+974) 444 4101
Website: http://www.qiib.com.qa
Emai: N/A
Arab Bank
Doha Branch
Grand Hamad Street
Tel: (+974) 438 7878
Fax: (+974) 438 7677
Website: http://www.arabbank.com.qa
Email: DohaContact@arabbank.com
Mashreq Bank
Main Branch
C Ring Road
Tel: (+974) 424 9666
Fax: (+974) 434 9647
Website: http://www.mashreqbank.com.qa
Email: N/A
Bank Saderat Iran
Qatar Branch
Doha
Tel: (+974) 441 4646
Fax: (+974) 443 0121
Website: N/A
Email: N/A
HSBC Bank Middle East Limited
Main Branch
Airport Road
Tel: (+974) 442 4722
Fax: (+974) 425 4253
Website: http://www.hsbc.com.qa
Email: contact form available on website
Standard Chartered
Main Branch
Abdulla Bin Jassim Street
Tel: (+974) 465 8555
Fax: (+974) 443 0390
Website: http://www.standardchartered.com.qa
Email: contact form available on website
Masraf Al Rayan
Main Branch
Grand Hamad Street
Tel: (+974) 425 3333
Fax: (+974) 425 3312
Website: http://www.alrayan.com
Email: info@alrayan.com
Barwa Bank
Main Branch
Grand Hamad Street
Tel: (+974) 800 8555
Fax: (+974) 448 8889
Website: http://www.barwabank.com
Email: customerservice@barwabank.com
Al Khaliji Bank
Main Branch
Asia Street 60, West Bay
Tel: (+974) 494 0000
Fax: (+974) 494 0808
Website: http://www.alkhaliji.com
Email: info@alkhaliji.com
Main Branch
Cornich Road
Tel:(+974) 440 7777
Fax: (+974) 441 5020
Website: http://www.qnb.com.qa
Email: ccsupport@qnb.com.qa
Commercial Bank of Qatar
Head Office
Cornich Road
Tel: (+974) 449 0000
Fax: (+97) 449 0070
Website: http://www.cbq.com.qa
Email: info@cbq.com.qa
Doha Bank
Main Branch
Doha
Tel: (+974) 445 6600
Fax: (+974) 441 6631
Website: http://www.dohabank.com.qa
Email: N/A
Ahli Bank QSC
Main Branch
Al Sadd
Tel: (+974) 800 2222
Fax: (+974) 423 2444
Website: http://www.ahlibank.com.qa
Email: info@ahlibank.com.qa
International Bank of Qatar
Main Branch
Al Sadd
Tel: (+974) 447 8000
Fax: N/A
Website: http://www.ibq.com.qa
Email: N/A
Qatar Islamic Bank
Head Office
Grand Hamad Street
Tel: (+974) 444 8444
Fax: (+974) 441 2700
Website: http://www.qib.com.qa
Email: info@qib.com.qa
Qatar International Islamic Bank
Main Branch
Grand Hamad Street
Tel: (+974) 462 5666
Fax: (+974) 444 4101
Website: http://www.qiib.com.qa
Emai: N/A
Arab Bank
Doha Branch
Grand Hamad Street
Tel: (+974) 438 7878
Fax: (+974) 438 7677
Website: http://www.arabbank.com.qa
Email: DohaContact@arabbank.com
Mashreq Bank
Main Branch
C Ring Road
Tel: (+974) 424 9666
Fax: (+974) 434 9647
Website: http://www.mashreqbank.com.qa
Email: N/A
Bank Saderat Iran
Qatar Branch
Doha
Tel: (+974) 441 4646
Fax: (+974) 443 0121
Website: N/A
Email: N/A
HSBC Bank Middle East Limited
Main Branch
Airport Road
Tel: (+974) 442 4722
Fax: (+974) 425 4253
Website: http://www.hsbc.com.qa
Email: contact form available on website
Standard Chartered
Main Branch
Abdulla Bin Jassim Street
Tel: (+974) 465 8555
Fax: (+974) 443 0390
Website: http://www.standardchartered.com.qa
Email: contact form available on website
Masraf Al Rayan
Main Branch
Grand Hamad Street
Tel: (+974) 425 3333
Fax: (+974) 425 3312
Website: http://www.alrayan.com
Email: info@alrayan.com
Barwa Bank
Main Branch
Grand Hamad Street
Tel: (+974) 800 8555
Fax: (+974) 448 8889
Website: http://www.barwabank.com
Email: customerservice@barwabank.com
Al Khaliji Bank
Main Branch
Asia Street 60, West Bay
Tel: (+974) 494 0000
Fax: (+974) 494 0808
Website: http://www.alkhaliji.com
Email: info@alkhaliji.com
List of banks in Argentina full list
1.
ABN AMRO Asset Management
2.
American Express Bank Ltd S.A.
3.
Banco B.i Creditanstalt S.A.
4.
Banco Bisel
5.
Banco Bradesco Argentina S.A.
6.
Banco Central de la República Argentina
7.
Banco Cetelem ArgentinaS.A.
8.
Banco Ciudad de BuenosAires
9.
Banco Cmf S.A.
10.
Banco Cofidis S.A.
11.
Banco Columbia
12.
Banco Comafi
13.
Banco Credicoop
14.
Banco Credicoop Cooperativo Limitado
15.
Banco de Balcarce S.A.
16.
Banco de Entre Rios S.A.
17.
Banco de Inversion y Comercio Exterior S. A.
18.
Banco de la Nacion Argentina
19.
Banco de La Pampa
20.
BANCO DE LA PAMPA
21.
Banco de la Provincia de Buenos Aires
22.
Banco de la Provincia de Buenos Aires
23.
Banco de Tierra de Fuego
24.
Banco de Valores SA
25.
Banco del Buen Ayre
26.
Banco Francés
27.
Banco Galicia y Buenos Aires S.A.
28.
Banco General de Negocios S.A.
29.
Banco Hipotecario
30.
Banco Hipotecario S.A.
31.
Banco Itaú
32.
Banco Julio S.A.
33.
Banco Macro S.A.
34.
Banco Mariva
35.
Banco Mercurio S.A.
36.
BANCO MUNICIPAL DEROSARIO
37.
Banco Patagonia S.A.
38.
Banco Piano
39.
Banco Privado de Inversiones S.A.
40.
Banco Regional de CuyoS.A.
41.
Banco RÃo
42.
Banco Saenz S.A.
43.
Banco Sudameris Argentina S.A.
44.
Banco Supervielle
45.
Banco Suquia S.A.
46.
Bank Leumi
47.
Bank of America, NA
48.
Bank of Tokyo-mitsubishi Ufj
49.
BankBoston
50.
Banque Nationale de Paris Argentina
51.
Banque Safdie
52.
Bansud
53.
Barclays Bank Plc
54.
Barclays Wealth
55.
Bica Cooperativa de Emprendimientos Múltiples Limitada
56.
BNP Paribas
57.
C.C.C. La Capital de Plata
58.
Citibank (Argentina)
59.
Citibank Argentina
60.
Clariden Bank SA
61.
Corp Banca S.A.
62.
Credilogros Compania Financiera SA
63.
Credit Suisse (Investment Banking)
64.
DaimlerChrysler Financiera
65.
Deutsche Bank Argentina S.A.
66.
E-Galicia.com
67.
Fiat Credito Compania Financiera
68.
Ford Credit Compania Financiera
69.
GE Money Bank GmbH
70.
Goldman Sachs Argentina L.L.C.
71.
HSBC
72.
ING Bank N.V. -Branch
73.
Israel Discount Bank Ltd.
74.
JOHN DEERE CREDIT COMPAÑIA FINANCIERA
75.
JPMorgan Chase Bank, National Association
76.
Lloyds Bank
77.
Masventas S.A CompaniaFinanciera
78.
MBA Banco de Investitiones
79.
Nuevo Banco Bisel S.A.
80.
Nuevo Banco de Chaco S.A.
81.
Nuevo Banco de la RiojaS.A.
82.
Nuevo Banco de Santa Fe
83.
Nuevo Banco Industrial de Azul
84.
RCI Banque
85.
Schroder Mildesa Investment Management S.A.
86.
Standard Bank
87.
Standard Chartered Bank
88.
Toyota Compania Financiera de ArgentinaS.A
ABN AMRO Asset Management
2.
American Express Bank Ltd S.A.
3.
Banco B.i Creditanstalt S.A.
4.
Banco Bisel
5.
Banco Bradesco Argentina S.A.
6.
Banco Central de la República Argentina
7.
Banco Cetelem ArgentinaS.A.
8.
Banco Ciudad de BuenosAires
9.
Banco Cmf S.A.
10.
Banco Cofidis S.A.
11.
Banco Columbia
12.
Banco Comafi
13.
Banco Credicoop
14.
Banco Credicoop Cooperativo Limitado
15.
Banco de Balcarce S.A.
16.
Banco de Entre Rios S.A.
17.
Banco de Inversion y Comercio Exterior S. A.
18.
Banco de la Nacion Argentina
19.
Banco de La Pampa
20.
BANCO DE LA PAMPA
21.
Banco de la Provincia de Buenos Aires
22.
Banco de la Provincia de Buenos Aires
23.
Banco de Tierra de Fuego
24.
Banco de Valores SA
25.
Banco del Buen Ayre
26.
Banco Francés
27.
Banco Galicia y Buenos Aires S.A.
28.
Banco General de Negocios S.A.
29.
Banco Hipotecario
30.
Banco Hipotecario S.A.
31.
Banco Itaú
32.
Banco Julio S.A.
33.
Banco Macro S.A.
34.
Banco Mariva
35.
Banco Mercurio S.A.
36.
BANCO MUNICIPAL DEROSARIO
37.
Banco Patagonia S.A.
38.
Banco Piano
39.
Banco Privado de Inversiones S.A.
40.
Banco Regional de CuyoS.A.
41.
Banco RÃo
42.
Banco Saenz S.A.
43.
Banco Sudameris Argentina S.A.
44.
Banco Supervielle
45.
Banco Suquia S.A.
46.
Bank Leumi
47.
Bank of America, NA
48.
Bank of Tokyo-mitsubishi Ufj
49.
BankBoston
50.
Banque Nationale de Paris Argentina
51.
Banque Safdie
52.
Bansud
53.
Barclays Bank Plc
54.
Barclays Wealth
55.
Bica Cooperativa de Emprendimientos Múltiples Limitada
56.
BNP Paribas
57.
C.C.C. La Capital de Plata
58.
Citibank (Argentina)
59.
Citibank Argentina
60.
Clariden Bank SA
61.
Corp Banca S.A.
62.
Credilogros Compania Financiera SA
63.
Credit Suisse (Investment Banking)
64.
DaimlerChrysler Financiera
65.
Deutsche Bank Argentina S.A.
66.
E-Galicia.com
67.
Fiat Credito Compania Financiera
68.
Ford Credit Compania Financiera
69.
GE Money Bank GmbH
70.
Goldman Sachs Argentina L.L.C.
71.
HSBC
72.
ING Bank N.V. -Branch
73.
Israel Discount Bank Ltd.
74.
JOHN DEERE CREDIT COMPAÑIA FINANCIERA
75.
JPMorgan Chase Bank, National Association
76.
Lloyds Bank
77.
Masventas S.A CompaniaFinanciera
78.
MBA Banco de Investitiones
79.
Nuevo Banco Bisel S.A.
80.
Nuevo Banco de Chaco S.A.
81.
Nuevo Banco de la RiojaS.A.
82.
Nuevo Banco de Santa Fe
83.
Nuevo Banco Industrial de Azul
84.
RCI Banque
85.
Schroder Mildesa Investment Management S.A.
86.
Standard Bank
87.
Standard Chartered Bank
88.
Toyota Compania Financiera de ArgentinaS.A
Debenture
A long-term debt instrument issued by corporations or governmentsthat is backed only by the integrity of the borrower, not by collateral. A debenture is unsecured and subordinate to secured debt. A debenture is unsecured in that there are no liens or pledges on specific assets
Day Order
An order that is valid only for the day it is entered. If the order is still outstandingwhen the market closes, it will be purged overnight.
Daily Price Limit
The maximum price advance or decline permitted for a futures contract in one trading session compared to the previous day's settlement price
Cyclical Stock
A stock of a company in an industry sector that is particularly sensitive to swings in economic conditions
Cum Rights
With rights. The owner of shares purchased cum rightsis entitled to forthcoming, already-declared rights. The opposite of this is ex rights.
Cum Dividend
With dividend. The owner of shares purchased cum dividend is entitled to an upcoming already-declareddividend. The opposite of this is ex dividend.
Cross
A trade that occurs when two accounts within the same Participating Organization/Member wish to buy and sell the same security at an agreed price and volume. With some approved exceptions, crosses can only occur within the current bid and ask for the stock
Convertible Security
A security of an issuer (for example - bonds, debentures, or preferred shares) that may be converted into other securities of that issuer, in accordance with the terms of the conversion feature. The conversion usually occurs at the option of the holder of the securities, but it may occur at the option of the issuer.
Consolidated Short Position Report
A consolidated report that includes the total shares short (as of the trade date) and the net change from the previous report, for bothTSX and TSX Venture Exchange listed issues. Under UMIR rule 10.10, all TSX and TSX Venture Exchange Participating Organizations and Members must report the firm's short position on a semi-monthly basis to TSX Datalinx. Non-clearing firms may report through the firm that is responsible for their clearing.
Common Shares or CommonStock
Securities that represent partownership in a company and generally carry voting privileges. Common shareholders may be paid dividends, but only after preferred shareholders are paid. Common shareholdersare last in line after creditors, debt holders and preferred shareholders to claim any of a company's assets in the event of liquidation.
Closed-End Investment Fund
An investment trust that issues a fixed number of securities that trade on a stock exchange or in the over-the-counter market. Assets of a closed-end fundare professionally managed in accordance with the fund's investment objective and policies and may be invested in a wide range of financial instruments/assets. Like other publicly traded securities, the market price of closed-end fund securities fluctuates and is determined by supply and demand in the marketplace.
Debt Volume
The number of debt instruments traded on one side of the transaction for a specified period multiplied by the face value of the debt instrument
Defensive Stock
A stock purchased from a company that has maintained a record of stable earnings and continuous dividend payments through periods of economic downturn.
Delayed Delivery Order
A special term order in which there is a clear understanding between thebuying and selling parties that the delivery of the securities will be delayed beyond the usual three-daysettlement period to the date specified in the order.A special term order in which there is a clear understanding between thebuying and selling parties that the delivery of the securities will be delayed beyond the usual three-daysettlement period to the date specified in the order.
Delist
The removal of a security's listing on a stock exchange. This is done when the security no longer exists, thecompany is bankrupt, the public distribution of the security has dropped to an unacceptably low level, or the company has failed to comply with the terms of its listing agreement
Delisted Issue
The status of a security that is no longer listed on the Exchange. The security could trade on another market.
Monday 26 November 2012
EU-IMF agree on cutting Greek debt-to-GDP level
Euro zone finance ministers and the International Monetary Fund clinched agreementon reducing Greece's debt on Monday in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat.
After 12 hours of talks at their third meeting in as many weeks, Greece's international lenders agreed on a package of measures to reduce Greekdebt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020.
In a significant new pledge, ministers committed themselves to take further steps to lowerGreece's debt to"significantly below 110 percent" in 2022 -- the most explicit recognition so far that some write-off of loans may be necessary from 2016, the point when Greece is forecast toreach a primary budget surplus.
"When Greece has achieved, or is about to achieve, a primary surplusand fulfilled all of its conditions, we will, if need be, consider further measures for the reduction of the total debt," German Finance Minister Wolfgang Schaeuble said.
Eurogroup Chairman Jean-Claude Juncker saidministers would formally approve the release of a major aid instalment needed to recapitalise Greece's teetering banks and enable the government to pay wages,pensions and suppliers onDec. 13.
Greece will receive up to 43.7 billion euros in stagesas it fulfills the conditions. The December instalment will comprise 23.8 billion for banks and 10.6 billion in budget assistance.
The IMF's share, less than a third of the total, will only be paid out once a buy-back of Greek debt has occurred in the coming weeks, but IMF Managing Director Christine Lagarde said theFund had no intention of pulling out of the programme.
To reduce Greece's debt pile, ministers agreed to cut the interest rate on official loans, extend their maturity by 15 years to 30 years, and grant Athens a 10-year interest repayment deferral.
They promised to hand back 11 billion euros in profits accruing to their national central banks from European Central Bank purchases of discounted Greek government bonds in the secondary market.
They also agreed to finance Greece to buy back its own bonds from private investors at what officials said was a target cost of around 35 cents in the euro.
European Central Bank President Mario Draghi said on leaving the talks:"I very much welcome the decisions taken by theminsters of finance. They will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece."
After 12 hours of talks at their third meeting in as many weeks, Greece's international lenders agreed on a package of measures to reduce Greekdebt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020.
In a significant new pledge, ministers committed themselves to take further steps to lowerGreece's debt to"significantly below 110 percent" in 2022 -- the most explicit recognition so far that some write-off of loans may be necessary from 2016, the point when Greece is forecast toreach a primary budget surplus.
"When Greece has achieved, or is about to achieve, a primary surplusand fulfilled all of its conditions, we will, if need be, consider further measures for the reduction of the total debt," German Finance Minister Wolfgang Schaeuble said.
Eurogroup Chairman Jean-Claude Juncker saidministers would formally approve the release of a major aid instalment needed to recapitalise Greece's teetering banks and enable the government to pay wages,pensions and suppliers onDec. 13.
Greece will receive up to 43.7 billion euros in stagesas it fulfills the conditions. The December instalment will comprise 23.8 billion for banks and 10.6 billion in budget assistance.
The IMF's share, less than a third of the total, will only be paid out once a buy-back of Greek debt has occurred in the coming weeks, but IMF Managing Director Christine Lagarde said theFund had no intention of pulling out of the programme.
To reduce Greece's debt pile, ministers agreed to cut the interest rate on official loans, extend their maturity by 15 years to 30 years, and grant Athens a 10-year interest repayment deferral.
They promised to hand back 11 billion euros in profits accruing to their national central banks from European Central Bank purchases of discounted Greek government bonds in the secondary market.
They also agreed to finance Greece to buy back its own bonds from private investors at what officials said was a target cost of around 35 cents in the euro.
European Central Bank President Mario Draghi said on leaving the talks:"I very much welcome the decisions taken by theminsters of finance. They will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece."
Mark Carney,Canadian to succeed Mervyn King as the next governor of the Bank of England.
LONDON - In a surprising departure from convention,the British government on Monday selected Mark Carney, the head of the Canadian central bank, to succeed Mervyn King as the next governor of the Bank of England.
The appointment ended a months-long process in which some of Britain's most prominent public officials vied hungrily for a post that will come with sharply enhanced powers.
The odds were heavily stacked in favor of the Bankof England's deputy governor, Paul Tucker. The decision to select a foreigner to lead Britain's most storied financial institution came as a shock when George Osborne, the chancellor of the Exchequer, broke the newsduring a session of Parliament on Monday.
The appointment ended a months-long process in which some of Britain's most prominent public officials vied hungrily for a post that will come with sharply enhanced powers.
The odds were heavily stacked in favor of the Bankof England's deputy governor, Paul Tucker. The decision to select a foreigner to lead Britain's most storied financial institution came as a shock when George Osborne, the chancellor of the Exchequer, broke the newsduring a session of Parliament on Monday.
UBS has been fined £29.7m by the UK watchdog
UBS has been fined £29.7m by the UK watchdog for "significant control breakdowns" that allowed a rogue trader to lose $2.3bn in 2011.
The Financial Services Authority handed out the third largest fine in its history. It criticised the bank for having ineffective computer risk controls and"poorly executed and ineffective supervision" thatallowed Kweku Adoboli repeatedly to breach risk limits and book fictitious trades.
Read more: 7 years in prison for former UBS trader Adoboli in fraud case
Mr Adoboli was convicted of fraud last week and sentenced to seven years in jail.
The failings took place in the London branch of UBS,so the FSA and the Swiss regulator Finma investigated jointly and announced the results on Monday morning.
The Financial Services Authority handed out the third largest fine in its history. It criticised the bank for having ineffective computer risk controls and"poorly executed and ineffective supervision" thatallowed Kweku Adoboli repeatedly to breach risk limits and book fictitious trades.
Read more: 7 years in prison for former UBS trader Adoboli in fraud case
Mr Adoboli was convicted of fraud last week and sentenced to seven years in jail.
The failings took place in the London branch of UBS,so the FSA and the Swiss regulator Finma investigated jointly and announced the results on Monday morning.
Standard Chartered Bank (China) has secured approval for a yuan-denominated loan quota on behalf of an American multi-national company,
Standard Chartered Bank (China) said on Monday it had secured approval for a yuan-denominated loan quota on behalf of an American multi-national company, becoming the first foreign bank to get such a cross-border quotafor a client.
The quota is part of a pilotprogramme that supports foreign and local multi-national companies which have plans to channel surplus yuan from mainland China to fund activities overseas.
Standard Chartered obtained a 3.3 billion yuan ($530 million) lending quota from the People's Bank of China Shanghai branch for an American client that specialises in global manufacturing and technology, the bank said in a statement.
It did not name the company.
This scheme has transformed the lending of yuan between companies from one based on a traditional entrustment loan - with banks as intermediary agents - to one where twoparties sign lending agreements directly, it added.
The quota is expected to support the company's Chinese office to lend yuan to its overseas parentor other related companies which can in turn settle yuan-denominated invoices.
"RMB cross-border lending brings huge flexibility of corporate treasury management," said Anthony Lin, Standard Chartered (China)'s head of Transaction Banking.
"It allows corporations to negotiate lending frequency and rate according to their actual needs. It also enables corporations to transfer onshore RMB surplus to their global cash pools for central deployment and use."
China has a tight grip overits capital account, but plans to fully liberalise it by 2020 and make the yuan one of the world's major currencies to reduce its reliance on the U.S. dollar.
The country has introduced various schemes to increase the global use of its currency, including yuan cross-border trade settlment, yuan overseas direct investment (ODI) and foreign direct investment (FDI).
The quota is part of a pilotprogramme that supports foreign and local multi-national companies which have plans to channel surplus yuan from mainland China to fund activities overseas.
Standard Chartered obtained a 3.3 billion yuan ($530 million) lending quota from the People's Bank of China Shanghai branch for an American client that specialises in global manufacturing and technology, the bank said in a statement.
It did not name the company.
This scheme has transformed the lending of yuan between companies from one based on a traditional entrustment loan - with banks as intermediary agents - to one where twoparties sign lending agreements directly, it added.
The quota is expected to support the company's Chinese office to lend yuan to its overseas parentor other related companies which can in turn settle yuan-denominated invoices.
"RMB cross-border lending brings huge flexibility of corporate treasury management," said Anthony Lin, Standard Chartered (China)'s head of Transaction Banking.
"It allows corporations to negotiate lending frequency and rate according to their actual needs. It also enables corporations to transfer onshore RMB surplus to their global cash pools for central deployment and use."
China has a tight grip overits capital account, but plans to fully liberalise it by 2020 and make the yuan one of the world's major currencies to reduce its reliance on the U.S. dollar.
The country has introduced various schemes to increase the global use of its currency, including yuan cross-border trade settlment, yuan overseas direct investment (ODI) and foreign direct investment (FDI).
Standard Chartered Bank (China) has secured approval for a yuan-denominated loan quota on behalf of an American multi-national company,
Standard Chartered Bank (China) said on Monday it had secured approval for a yuan-denominated loan quota on behalf of an American multi-national company, becoming the first foreign bank to get such a cross-border quotafor a client.
The quota is part of a pilotprogramme that supports foreign and local multi-national companies which have plans to channel surplus yuan from mainland China to fund activities overseas.
Standard Chartered obtained a 3.3 billion yuan ($530 million) lending quota from the People's Bank of China Shanghai branch for an American client that specialises in global manufacturing and technology, the bank said in a statement.
It did not name the company.
This scheme has transformed the lending of yuan between companies from one based on a traditional entrustment loan - with banks as intermediary agents - to one where twoparties sign lending agreements directly, it added.
The quota is expected to support the company's Chinese office to lend yuan to its overseas parentor other related companies which can in turn settle yuan-denominated invoices.
"RMB cross-border lending brings huge flexibility of corporate treasury management," said Anthony Lin, Standard Chartered (China)'s head of Transaction Banking.
"It allows corporations to negotiate lending frequency and rate according to their actual needs. It also enables corporations to transfer onshore RMB surplus to their global cash pools for central deployment and use."
China has a tight grip overits capital account, but plans to fully liberalise it by 2020 and make the yuan one of the world's major currencies to reduce its reliance on the U.S. dollar.
The country has introduced various schemes to increase the global use of its currency, including yuan cross-border trade settlment, yuan overseas direct investment (ODI) and foreign direct investment (FDI).
The quota is part of a pilotprogramme that supports foreign and local multi-national companies which have plans to channel surplus yuan from mainland China to fund activities overseas.
Standard Chartered obtained a 3.3 billion yuan ($530 million) lending quota from the People's Bank of China Shanghai branch for an American client that specialises in global manufacturing and technology, the bank said in a statement.
It did not name the company.
This scheme has transformed the lending of yuan between companies from one based on a traditional entrustment loan - with banks as intermediary agents - to one where twoparties sign lending agreements directly, it added.
The quota is expected to support the company's Chinese office to lend yuan to its overseas parentor other related companies which can in turn settle yuan-denominated invoices.
"RMB cross-border lending brings huge flexibility of corporate treasury management," said Anthony Lin, Standard Chartered (China)'s head of Transaction Banking.
"It allows corporations to negotiate lending frequency and rate according to their actual needs. It also enables corporations to transfer onshore RMB surplus to their global cash pools for central deployment and use."
China has a tight grip overits capital account, but plans to fully liberalise it by 2020 and make the yuan one of the world's major currencies to reduce its reliance on the U.S. dollar.
The country has introduced various schemes to increase the global use of its currency, including yuan cross-border trade settlment, yuan overseas direct investment (ODI) and foreign direct investment (FDI).
Saturday 24 November 2012
Capitalization Change
Any change in the issued and outstanding listed securities of an issuer. This change may involve the issuance, repurchase, or cancellation of listed securities or listed securities that are issuable upon conversion or exchange of other securities of an issuer
Capital Trust
A form of financial trust that differs from other trusts in that it looks more like a fixed income instrument than an equity issue. Capital trusts are generally issued by banks or other financial intermediaries. These investment vehicles trade like a debt instrument with$1,000 face value and trade with accrued interest.
The business objective of capital trusts is to acquire and hold assets that will generate net income for distribution to unit holders. The trust's assets may consistof residential mortgages, mortgage co-ownership interests, mortgage-backed securities, other eligible investments, and other qualified debt obligations. Capital trust assets are usually acquired from and serviced by the issuing institution and/or its affiliates.
The business objective of capital trusts is to acquire and hold assets that will generate net income for distribution to unit holders. The trust's assets may consistof residential mortgages, mortgage co-ownership interests, mortgage-backed securities, other eligible investments, and other qualified debt obligations. Capital trust assets are usually acquired from and serviced by the issuing institution and/or its affiliates.
Capital Gain or Loss
Profit or loss resulting from the sale of certain assets classified under the federal income tax legislation as capital assets. This includes stocks and other investments such as investment property.
Canadian Securities Institute(CSI)
The national educational organization of the securitiesindustry sponsored by the Investment Dealers Association of Canada, Toronto Stock Exchange, theBourse de Montréal and TSX Venture Exchange.
Canadian Investor Protection Fund (CIPF)
A fund established to protect customers in the event of insolvency of a member of any of the following sponsoring self-regulatory organizations: the Bourse deMontréal, Toronto Stock Exchange, TSX Venture Exchange and the Investment Dealers Association of Canada
Canadian Derivatives Clearing Corporation (CDCC)
The designated central clearing corporation for options and futures trading on the Bourse de Montréal. Previously known as Trans Canada Options Inc. (TCO).
Canadian Depository for Securities Limited (CDS)
Canada's national securities depository, Canadian Depository for Securities Limited (CDS), provides clearing and settlement services in support of trading in equity, fixed income, and money markets.CDS is owned by major Canadian chartered banks, members of the Investment Dealers Association of Canada (IDA), and TSX Inc. CDS is regulated by the Ontario Securities Commission, L'Autorité des marchés financiers (the securities commission of Quebec), and the Bank of Canada.
Call Option
An option which gives the holder the right, but not theobligation, to buy a fixed amount of a certain stock at a specified price within a specified time. Calls are purchased by investors whoexpect a price increase.
Capitalization Effective Date
The date that the capitalization change is reflected in the issuer's share register, regardless of when it is reported to the Exchange
Capitalization or Capital Structure
Total dollar amount of all money invested in a company, such as debt, preferred and common stock, contributed surplus and retained earnings of a company.
Capped Indices
Indices for which there is a maximum relative weight bymarket capitalization for any one constituent. Any individual constituent of theindex can represent no more than a specified percent of the index. The individual constituents of the S&P/TSX Capped Composite and S&P/TSX Capped 60 indices are capped at 10%, while the individual constituents of the S&P/TSX Capped sector indices are capped at 25%.
Cash Settlement
Settlement of an option contract not by delivery of the underlying shares, but by a cash payment of the difference between the strike or exercise price and the underlying settlement price.
list of banks found in Germany
Commerzbank AG ,
Kaiserplatz
60311 Frankfurt am Main
Telefon: (0 69) 1 36 20
http://www.commerzbank.de
Deutsche Bank AG ,
Theodor-Heuss-Allee 70
60484 Frankfurt am Main
Telefon: (0 69) 9 10-00
http://www.deutsche-bank.de
Deutsche Postbank AG ,
Friedrich-Ebert-Allee 114 - 126
53113 Bonn
Telefon: (02 28) 9 20-0
http://www.postbank.de
UniCredit Bank AG ,
Am Tucherpark 16
80538 München
Telefon: (0 89) 37 8-0
http://www.hypovereinsbank.de
Regional Banks
Aareal Bank AG ,
Paulinenstraße 15
65189 Wiesbaden
Telefon: (06 11) 3 48-0
http://www.aareal-bank.com
abcbank GmbH ,
Venloer Straße 47 - 53
50672 Köln
Telefon: (02 21) 5 79 08-350
http://www.abc-bank.de
AKA Ausfuhrkredit-Gesellschaft mbH ,
Große Gallusstr. 1 – 7
60311 Frankfurt am Main
Telefon: (0 69) 2 98 91-00
http://www.akabank.de
Aktivbank AG ,
Stuttgarter Str. 20-22
75179 Pforzheim
Telefon: (0 72 31) 4 44 36-0
http://www.aktivbank.de/
Allgemeine Beamtenkasse Kreditbank AG ,
Invalidenstr. 28
10115 Berlin
Telefon: (0 30) 2 85 35-0
http://www.abkbank.de/
Archon Capital Bank Deutschland GmbH ,
Ernst-Reuter-Str. 119
95030 Hof
Telefon: (09281) - 1 40 15 -0
http://www.archoncapitalbankdeutschland.de/
Augsburger Aktienbank AG ,
Halderstr. 21
86150 Augsburg
Telefon: (08 21) 50 15-0
http://www.aab.de/
AXA Bank AG ,
Colonia Allee 10-20
51067 Köln
Telefon: (0 180 05) 77 1089(bundesweit 14 Cent pro Minute)
http://www.axabank.de
Baader Bank AG ,
Weihenstephaner Str. 4
85716 Unterschleissheim
Telefon: (0 89) 51 50-0
http://www.baaderbank.de/
Bank Schilling & Co. AG ,
Am Marktplatz 10
97762 Hammelburg
Telefon: (0 97 32) 9 04-0
http://www.bankschilling.de
Bankhaus August Lenz & Co. AG ,
Holbeinstr. 11
81679 München
Telefon: (0 89) 9 60 12-0
http://www.banklenz.de
Bankhaus Bauer AG ,
Lautenschlagerstr. 2
70173 Stuttgart
Bankhaus Dr. Masel AG ,
Heerstr. 18 - 20
14052 Berlin
Telefon: (0 30) 30 06 83-0
http://www.bankhaus-masel.de/
Bankhaus E. Mayer AG ,
Friedrichring 28 - 30
79098 Freiburg
Telefon: (07 61) 2 82 00-0
http://www.bankhaus-mayer.de/
Bankhaus Gebr. Martin AG ,
Kirchstr. 35
73033 Göppingen
Telefon: (0 71 61) 67 14-0
http://www.martinbank.de
Bankhaus Hallbaum AG ,
An der Börse 7
30159 Hannover
Telefon: (05 11) 30 12-0
http://www.bankhaus-hallbaum.de
Bankhaus Herzogpark AG ,
Pienzenauerstr. 27
81679 München
Telefon: (0 89) 540 42 42-0
http://www.herzogpark.eu
Bankhaus Löbbecke AG ,
Behrenstr. 36
10117 Berlin
Telefon: (0 30) 8 84 21-0
http://www.bankhaus-loebbecke.de/
Bankhaus Neelmeyer AG ,
Am Markt 14 - 16
28195 Bremen
Telefon: (04 21) 36 03-0
http://www.neelmeyer.de
Bankhaus Rautenschlein GmbH ,
Hötensleber Str. 49
38364 Schöningen
Telefon: (0 53 52) 94 51-0
Bankverein Werther Aktiengesellschaft ,
Ravensberger Str. 23
33824 Werther
Telefon: (0 52 03) 7 06-0
http://www.bankverein-werther.de
Berlin-Hannoversche Hypothekenbank AG ,
Budapester Str.1
10787 Berlin
Telefon: (0 30) 2 59 99-0
http://www.berlinhyp.de
Berlin-Hannoversche Hypothekenbank AG ,
Landschaftstr. 8
30159 Hannover
Telefon: (05 11) 30 11-0
http://www.berlinhyp.de
BHF-BANK Aktiengesellschaft ,
Bockenheimer Landstr. 10
60323 Frankfurt am Main
Telefon: (0 69) 7 18 - 0
http://www.bhf-bank.com
BIW Bank für Investments und Wertpapiere AG ,
Haus-Broicher-Straße 222
47877 Willich
Telefon: 02156-4920-0
http://www.biw-bank.de
BMW Bank GmbH ,
Heidemannstr. 164
80939 München
Telefon: (0 180) 3 25 25 80
http://www.bmwfs.de
BNY Mellon Asset Servicing GmbH ,
Strahlenbergerstraße 45
63067 Offenbach am Main
Telefon: (0 69) 66 77 44-0
http://www.bhfassetserv.com/
CACEIS Bank Deutschland GmbH ,
Lilienthalallee 34-36
80939 München
Telefon: (0 89) 5 40 00-0
http://www.caceis.de/
Clearstream Banking AG ,
Neue Börsenstr. 1
60487 Frankfurt am Main
Telefon: (0 69) 2 11-0
http://www.clearstream.com/
comdirect bank AG ,
Pascalkehre 15
25451 Quickborn
Telefon: (0 41 06) 7 04-0
http://www.comdirect.de
Commerz Finanz GmbH ,
Schwanthalerstr. 31
80336 München
Telefon: (0 89) 5 51 13-0
http://www.dresdner-cetelem.de
COREALCREDIT BANK AG ,
Corealcredit Haus
Grüneburgweg 58-62
60322 Frankfurt am Main
Telefon: (0 69) 71 79-0
http://www.corealcredit.de/
Credit Suisse (Deutschland) AG ,
Junghofstraße 16
60311 Frankfurt am Main
Telefon: (0 69) 2 69 11-0
http://www.credit-suisse.de
CreditPlus Bank AG ,
Augustenstr. 7
70178 Stuttgart
Telefon: (07 11) 66 06-615
http://www.creditplus.de
CRONBANK AG ,
Im Gefierth 10
63303 Dreieich
Telefon: (0 61 03) 3 91-255
http://www.cronbank.de
CVW-Privatbank AG ,
Hauptstr. 14
91452 Wilhermsdorf
Telefon: (0 91 02) 93 91-0
http://www.cvw-privatbank-ag.com/
DAB bank AG ,
Landsberger Str. 300
80687 München
Telefon: (0 89) 5 00 68-0
http://www.dab-bank.com
Degussa Bank GmbH ,
Theodor-Heuss-Allee 74
60486 Frankfurt am Main
Telefon: (0 69) 3600 2222
http://www.degussa-bank.de
Delbrück Bethmann Maffei AG ,
Bethmannstrasse 7 - 9
60311 Frankfurt am Main
Telefon: (0 69) 21 77-0
http://www.DeBeMa.de
Deutsche Bank Privat- und Geschäftskunden AG ,
Theodor-Heuss-Allee 72
60486 Frankfurt am Main
Telefon: (0 69) 9 10-00
http://www.deutsche-bank.de/start/
Kaiserplatz
60311 Frankfurt am Main
Telefon: (0 69) 1 36 20
http://www.commerzbank.de
Deutsche Bank AG ,
Theodor-Heuss-Allee 70
60484 Frankfurt am Main
Telefon: (0 69) 9 10-00
http://www.deutsche-bank.de
Deutsche Postbank AG ,
Friedrich-Ebert-Allee 114 - 126
53113 Bonn
Telefon: (02 28) 9 20-0
http://www.postbank.de
UniCredit Bank AG ,
Am Tucherpark 16
80538 München
Telefon: (0 89) 37 8-0
http://www.hypovereinsbank.de
Regional Banks
Aareal Bank AG ,
Paulinenstraße 15
65189 Wiesbaden
Telefon: (06 11) 3 48-0
http://www.aareal-bank.com
abcbank GmbH ,
Venloer Straße 47 - 53
50672 Köln
Telefon: (02 21) 5 79 08-350
http://www.abc-bank.de
AKA Ausfuhrkredit-Gesellschaft mbH ,
Große Gallusstr. 1 – 7
60311 Frankfurt am Main
Telefon: (0 69) 2 98 91-00
http://www.akabank.de
Aktivbank AG ,
Stuttgarter Str. 20-22
75179 Pforzheim
Telefon: (0 72 31) 4 44 36-0
http://www.aktivbank.de/
Allgemeine Beamtenkasse Kreditbank AG ,
Invalidenstr. 28
10115 Berlin
Telefon: (0 30) 2 85 35-0
http://www.abkbank.de/
Archon Capital Bank Deutschland GmbH ,
Ernst-Reuter-Str. 119
95030 Hof
Telefon: (09281) - 1 40 15 -0
http://www.archoncapitalbankdeutschland.de/
Augsburger Aktienbank AG ,
Halderstr. 21
86150 Augsburg
Telefon: (08 21) 50 15-0
http://www.aab.de/
AXA Bank AG ,
Colonia Allee 10-20
51067 Köln
Telefon: (0 180 05) 77 1089(bundesweit 14 Cent pro Minute)
http://www.axabank.de
Baader Bank AG ,
Weihenstephaner Str. 4
85716 Unterschleissheim
Telefon: (0 89) 51 50-0
http://www.baaderbank.de/
Bank Schilling & Co. AG ,
Am Marktplatz 10
97762 Hammelburg
Telefon: (0 97 32) 9 04-0
http://www.bankschilling.de
Bankhaus August Lenz & Co. AG ,
Holbeinstr. 11
81679 München
Telefon: (0 89) 9 60 12-0
http://www.banklenz.de
Bankhaus Bauer AG ,
Lautenschlagerstr. 2
70173 Stuttgart
Bankhaus Dr. Masel AG ,
Heerstr. 18 - 20
14052 Berlin
Telefon: (0 30) 30 06 83-0
http://www.bankhaus-masel.de/
Bankhaus E. Mayer AG ,
Friedrichring 28 - 30
79098 Freiburg
Telefon: (07 61) 2 82 00-0
http://www.bankhaus-mayer.de/
Bankhaus Gebr. Martin AG ,
Kirchstr. 35
73033 Göppingen
Telefon: (0 71 61) 67 14-0
http://www.martinbank.de
Bankhaus Hallbaum AG ,
An der Börse 7
30159 Hannover
Telefon: (05 11) 30 12-0
http://www.bankhaus-hallbaum.de
Bankhaus Herzogpark AG ,
Pienzenauerstr. 27
81679 München
Telefon: (0 89) 540 42 42-0
http://www.herzogpark.eu
Bankhaus Löbbecke AG ,
Behrenstr. 36
10117 Berlin
Telefon: (0 30) 8 84 21-0
http://www.bankhaus-loebbecke.de/
Bankhaus Neelmeyer AG ,
Am Markt 14 - 16
28195 Bremen
Telefon: (04 21) 36 03-0
http://www.neelmeyer.de
Bankhaus Rautenschlein GmbH ,
Hötensleber Str. 49
38364 Schöningen
Telefon: (0 53 52) 94 51-0
Bankverein Werther Aktiengesellschaft ,
Ravensberger Str. 23
33824 Werther
Telefon: (0 52 03) 7 06-0
http://www.bankverein-werther.de
Berlin-Hannoversche Hypothekenbank AG ,
Budapester Str.1
10787 Berlin
Telefon: (0 30) 2 59 99-0
http://www.berlinhyp.de
Berlin-Hannoversche Hypothekenbank AG ,
Landschaftstr. 8
30159 Hannover
Telefon: (05 11) 30 11-0
http://www.berlinhyp.de
BHF-BANK Aktiengesellschaft ,
Bockenheimer Landstr. 10
60323 Frankfurt am Main
Telefon: (0 69) 7 18 - 0
http://www.bhf-bank.com
BIW Bank für Investments und Wertpapiere AG ,
Haus-Broicher-Straße 222
47877 Willich
Telefon: 02156-4920-0
http://www.biw-bank.de
BMW Bank GmbH ,
Heidemannstr. 164
80939 München
Telefon: (0 180) 3 25 25 80
http://www.bmwfs.de
BNY Mellon Asset Servicing GmbH ,
Strahlenbergerstraße 45
63067 Offenbach am Main
Telefon: (0 69) 66 77 44-0
http://www.bhfassetserv.com/
CACEIS Bank Deutschland GmbH ,
Lilienthalallee 34-36
80939 München
Telefon: (0 89) 5 40 00-0
http://www.caceis.de/
Clearstream Banking AG ,
Neue Börsenstr. 1
60487 Frankfurt am Main
Telefon: (0 69) 2 11-0
http://www.clearstream.com/
comdirect bank AG ,
Pascalkehre 15
25451 Quickborn
Telefon: (0 41 06) 7 04-0
http://www.comdirect.de
Commerz Finanz GmbH ,
Schwanthalerstr. 31
80336 München
Telefon: (0 89) 5 51 13-0
http://www.dresdner-cetelem.de
COREALCREDIT BANK AG ,
Corealcredit Haus
Grüneburgweg 58-62
60322 Frankfurt am Main
Telefon: (0 69) 71 79-0
http://www.corealcredit.de/
Credit Suisse (Deutschland) AG ,
Junghofstraße 16
60311 Frankfurt am Main
Telefon: (0 69) 2 69 11-0
http://www.credit-suisse.de
CreditPlus Bank AG ,
Augustenstr. 7
70178 Stuttgart
Telefon: (07 11) 66 06-615
http://www.creditplus.de
CRONBANK AG ,
Im Gefierth 10
63303 Dreieich
Telefon: (0 61 03) 3 91-255
http://www.cronbank.de
CVW-Privatbank AG ,
Hauptstr. 14
91452 Wilhermsdorf
Telefon: (0 91 02) 93 91-0
http://www.cvw-privatbank-ag.com/
DAB bank AG ,
Landsberger Str. 300
80687 München
Telefon: (0 89) 5 00 68-0
http://www.dab-bank.com
Degussa Bank GmbH ,
Theodor-Heuss-Allee 74
60486 Frankfurt am Main
Telefon: (0 69) 3600 2222
http://www.degussa-bank.de
Delbrück Bethmann Maffei AG ,
Bethmannstrasse 7 - 9
60311 Frankfurt am Main
Telefon: (0 69) 21 77-0
http://www.DeBeMa.de
Deutsche Bank Privat- und Geschäftskunden AG ,
Theodor-Heuss-Allee 72
60486 Frankfurt am Main
Telefon: (0 69) 9 10-00
http://www.deutsche-bank.de/start/
Friday 23 November 2012
Europe bank regulator role must be clear says Commerzbank CEO
FRANKFURT, Nov 23 (Reuters) - Commerzbank Chief Executive Martin Blessing urged policymakers to make up their mind about whether a European bank regulator should stabilise financial markets or serve as a tool for back-door financial transfers to weak euro zone states.
"Do we want European supervision to be an institution that truly stabilizes our financial system or more as a vehicle for re-allocation and transfer?" Blessing asked bankers and regulators gathered at a conference in Frankfurt on Friday.
"Funds should be provided to banks only if the ESM/European supervision has the ability to clamp down and receive ownership of failed banks," he said, referring to the European Stability Mechanism, the EU's rescue fund.
The European Central Bank (ECB) was the right institution to take on the task of reforming supervision of lenders in Europe, the German banker said, adding that acommon regulator shouldoversee all banks in Europe.
"Do we want European supervision to be an institution that truly stabilizes our financial system or more as a vehicle for re-allocation and transfer?" Blessing asked bankers and regulators gathered at a conference in Frankfurt on Friday.
"Funds should be provided to banks only if the ESM/European supervision has the ability to clamp down and receive ownership of failed banks," he said, referring to the European Stability Mechanism, the EU's rescue fund.
The European Central Bank (ECB) was the right institution to take on the task of reforming supervision of lenders in Europe, the German banker said, adding that acommon regulator shouldoversee all banks in Europe.
Thursday 22 November 2012
Argentina will have to pay $1.3bn to hedge funds
Argentina will have to pay $1.3bn to hedge funds that refused to restructure their debts after the country's 2001 default when it makes regular payments to its restructured bondholders in December, a US court has ordered.
The ruling, made late onWednesday in New York, raises the possibility that Argentinawill default once more, and if upheld representsa major chink in the armour of sovereign immunity against creditors that has largelyreigned in international law for almost a century.
US District Court Judge Thomas Griesa first madethe order earlier this year, which after appealswas unexpectedly largely affirmed by the US federal appeals courton October 26.
The case was then sent back to the original judge to clarify certain aspects, such as how much was due to the funds, led by Elliott Associates, an aggressive hedge fund that has made suing countries its hallmark.
"It is hardly an injustice to have legal rulings which, at long last, meanthat Argentina must pay the debts which it owes," Judge Griesa saidin an updated opinion."After 10 years of litigation this is a just result."
More controversially, thejudge largely reaffirmedthe extent that third parties would be affected by his order.
Argentina has refused topay on past judgments against it, arguing that the funds were"vultures" and"scavengers", but JudgeGriesa gave his order teeth by landing an injunction on Argentina, its agents "and other persons who are in active concert or participation with the parties or their agents".
This includes Bank of New York Mellon, the trustee of Argentina's restructured bonds, which acts as a conduit of the country's payments to investors in these securities. The judge argued that whenBNY Mellon pays restructured bondholders, those creditors that refused to join the restructuring should also be paid what they are due.
Despite vehement protests from BNY Mellon, restructured bondholders and a NewYork Federal Reserve opinion in Argentina's favour, the judge confirmed that his injunction extended to the US payments system -- which some legal experts have argued hasa systemic impact on future sovereign debt restructurings.
"It is probably true that these parties are not all agents of Argentina, but they surely are 'in activeconcert or participation' with Argentina in processing the paymentsfrom Argentina to the exchange bondholders,"the order stated.
Wednesday 21 November 2012
Averages and Indices
Statistical tools that measure the state of the stock market or the economy, based on the performance of stocks, bonds or other components. Examples are the S&P/TSX Venture Composite Index, the S&P/TSX Composite Index, the Dow Jones Industrial Average and the Consumer Price Index.
Averaging Down
Buying more of a security at a price that is lower than the price paid for the initial investment. The aim of averaging down is to reducethe average cost per unit of the investment.
At-the-Money
When the price of the underlying equity, index or commodity equals the strike price of the option.
Basis Point
One-hundredth of a percentage point. For example, the difference between 5.25% and 5.50% is25 basis points.
Ask or Offer
The lowest price at which someone is willing to sell thesecurity. When combined with the bid price information, it forms the basisof a stock quote.
Anonymous Trading Permits Participating
Organizations to voluntarily withhold their true broker identities when entering orders and trades on TSX trading systems.
Annual Report
A publication, including financial statements and a report on operations, issued by a company to its shareholders at the company's fiscal year-end.
Alberta Securities Commission (ASC)
The provincial regulatory agency responsible for overseeing the capital marketin Alberta.
Agent
A securities firm is classified as an agent when it acts on behalf of its clients as buyer or seller of a security. The agent does not own the security at any time during the transaction
Better-Price-Limit Orders
An order with a limit price better than the best price on the opposite side of the market. A better-priced buy order has a limit price higherthan the best offering. A better-priced sell order has a limit price lower than the best bid. These are available only at the opening.
Bid
The highest price a buyer is willing to pay for a stock. When combined with the askprice information, it forms thebasis of a stock quote.
Blue Chip Stocks
Stocks of leading and nationally known companies that offer a record of continuous dividend payments and other strong investment qualities.
Board Lot
A standard trading unit as defined in UMIR (Universal Market Integrity Rules). The board lot size of a security onToronto Stock Exchange or TSX Venture Exchange depends on the trading price of the security, as follows:
*. Trading price per unit is less than $0.10 - board lot size is 1,000 units
*. Trading price per unit is$0.10 to $0.99 - board lot size is 500 units
*. Trading price per unit is$1.00 or more - board lot size is 100 units
*. Trading price per unit is less than $0.10 - board lot size is 1,000 units
*. Trading price per unit is$0.10 to $0.99 - board lot size is 500 units
*. Trading price per unit is$1.00 or more - board lot size is 100 units
Bonds
Promissory notes issued by a corporation or government to its lenders, usually with a specified amount of interest for a specified length of time.
Booked Orders
Orders that do not trade immediately upon entry. These orders are also known as outstanding orders.
Bought-Deal Underwriting
A type of underwriting where the brokerage firm acts as principal. The brokerage firm risks its own capital to purchase all of the securities to be issued. If the price of the securities decreases before the brokerage firm has had a chance to resell the securitiesto its clients, the firm absorbsthe loss
British Columbia International Commercial Arbitration Centre (BCICAC)
An arbitration centre established to resolve business disputes that have not been resolved through normal channels. As part of its services, the centre will accept claims up to $50,000 from clients of participating members of the Investment Dealers Association of Canada(Pacific Division) and TSX Venture Exchange.
More problems in Greece no agreement yet
BERLIN/ATHENS (Reuters) -International lenders failed for the second week to reacha deal to release emergency aid for Greece and will try again next Monday, but Germany signaled that major divisions remain.
Euro zone finance ministers, the International Monetary Fund and the European Central Bank were unable to agree in 12 hours of overnight talks in Brussels onhow to make the country's debt sustainable. They want a solution before paying the next urgently needed loan tranche to keep Greece afloat.
Several European officials played down the delay, saying the disagreements were technical and a deal would be reached when they meet again on November 26.
But German Finance MinisterWolfgang Schaeuble told lawmakers at a closed-door briefing in Berlin that the lenders were split over several key issues including how to define debt sustainability and fill a hole in Greek finances.
"He sees the extension of thedebt sustainability goal as one of the main bones of contention. The other is how to cover the Greek financing gap of 14 billion euros through 2014," said one lawmaker who attended Wednesday's meeting of Chancellor Angela Merkel 's centre-right Christian Democrats in parliament.
Merkel herself told the lawmakers the gap could be plugged by lowering interest rates on loans to Greece and increasing guarantees provided to the euro zone's temporary EFSF bailout fund, in which Germany would take its share, a participant said.
She suggested a deal could be struck as early as next week but rejected the notionthat big, bold actions could solve the debt crisis overnight.
"I believe there are chances,one doesn't know for sure, but there are chances to get a solution on Monday," Merkel told the Bundestag lower house of parliament during a debate.
Greece needs the next 31 billion euro aid tranche to keep servicing its debt and avoid bankruptcy. Its next major repayment is in mid-December.
Athens says it has carried outthe tough reforms required in the bailout program but needs more time to reach fiscal targets agreed with its lenders because its economyhas continued to shrink.
European governments wantto give Greece an extra two years, until 2022, to cut its debt to a sustainable level but the IMF does not agree. The Europeans, led by Germany, are refusing to write off any loans. Both options would make it easier for Greece to meet the targets in the bailout program.
French Finance Minister Pierre Moscovici said agreement was close, echoing overnight commentsfrom Eurogroup chairman Jean-Claude Juncker, who said talks were stuck on technicalities.
"We are a whisker away froma deal. I am very confident we will get there on Monday," Moscovici told Europe 1 radio.
Greece is increasingly frustrated about the repeated delays in releasing the aid and says it has done what is necessary.
"Greece did what it had committed it would do. Our partners, together with the IMF, also have to do what they have taken on to do," Prime Minister Antonis Samaras said in a statement.
"Any technical difficulties in finding a technical solution do not justify any negligenceor delays."
Samaras will meet Juncker inBrussels on Thursday and has cancelled a trip to Qatar next week to monitor the talks, a government spokesman said.
The prime minister is under growing pressure from his own coalition allies and the opposition after pushing through deeply unpopular austerity measures that he said were the only way to get more aid to avert bankruptcy.
"Τhe eurozone cannot use Greece as an alibi to justify itsweakness in dealing effectively and definitively with the crisis," said Evangelos Venizelos, head ofthe co-ruling PASOK party. Opposition leader Alexis Tsipras, whose party is rising in polls, said Samaras had lost all credibility.
Investors were disappointed with the news. Greek banking stocks fell nearly 6 percent in morning trade. Most of Greece's next aid instalment has been earmarked to shore up the country's tottering banks.
The euro, European shares and the prices of higher-yielding euro zone debt lost some ground but later recovered some of the losses.
Euro zone finance ministers, the International Monetary Fund and the European Central Bank were unable to agree in 12 hours of overnight talks in Brussels onhow to make the country's debt sustainable. They want a solution before paying the next urgently needed loan tranche to keep Greece afloat.
Several European officials played down the delay, saying the disagreements were technical and a deal would be reached when they meet again on November 26.
But German Finance MinisterWolfgang Schaeuble told lawmakers at a closed-door briefing in Berlin that the lenders were split over several key issues including how to define debt sustainability and fill a hole in Greek finances.
"He sees the extension of thedebt sustainability goal as one of the main bones of contention. The other is how to cover the Greek financing gap of 14 billion euros through 2014," said one lawmaker who attended Wednesday's meeting of Chancellor Angela Merkel 's centre-right Christian Democrats in parliament.
Merkel herself told the lawmakers the gap could be plugged by lowering interest rates on loans to Greece and increasing guarantees provided to the euro zone's temporary EFSF bailout fund, in which Germany would take its share, a participant said.
She suggested a deal could be struck as early as next week but rejected the notionthat big, bold actions could solve the debt crisis overnight.
"I believe there are chances,one doesn't know for sure, but there are chances to get a solution on Monday," Merkel told the Bundestag lower house of parliament during a debate.
Greece needs the next 31 billion euro aid tranche to keep servicing its debt and avoid bankruptcy. Its next major repayment is in mid-December.
Athens says it has carried outthe tough reforms required in the bailout program but needs more time to reach fiscal targets agreed with its lenders because its economyhas continued to shrink.
European governments wantto give Greece an extra two years, until 2022, to cut its debt to a sustainable level but the IMF does not agree. The Europeans, led by Germany, are refusing to write off any loans. Both options would make it easier for Greece to meet the targets in the bailout program.
French Finance Minister Pierre Moscovici said agreement was close, echoing overnight commentsfrom Eurogroup chairman Jean-Claude Juncker, who said talks were stuck on technicalities.
"We are a whisker away froma deal. I am very confident we will get there on Monday," Moscovici told Europe 1 radio.
Greece is increasingly frustrated about the repeated delays in releasing the aid and says it has done what is necessary.
"Greece did what it had committed it would do. Our partners, together with the IMF, also have to do what they have taken on to do," Prime Minister Antonis Samaras said in a statement.
"Any technical difficulties in finding a technical solution do not justify any negligenceor delays."
Samaras will meet Juncker inBrussels on Thursday and has cancelled a trip to Qatar next week to monitor the talks, a government spokesman said.
The prime minister is under growing pressure from his own coalition allies and the opposition after pushing through deeply unpopular austerity measures that he said were the only way to get more aid to avert bankruptcy.
"Τhe eurozone cannot use Greece as an alibi to justify itsweakness in dealing effectively and definitively with the crisis," said Evangelos Venizelos, head ofthe co-ruling PASOK party. Opposition leader Alexis Tsipras, whose party is rising in polls, said Samaras had lost all credibility.
Investors were disappointed with the news. Greek banking stocks fell nearly 6 percent in morning trade. Most of Greece's next aid instalment has been earmarked to shore up the country's tottering banks.
The euro, European shares and the prices of higher-yielding euro zone debt lost some ground but later recovered some of the losses.
Australia Internet job vacancies rise 2.5pc
JOB advertisements on the internet rose by 2.5 per cent in October, Federal Government figures show.
The Department of Education, Employment and Workplace Relations internet vacancy index rose to a seasonally adjusted 70.7 points in the month, although this is still 14.1 per cent lower from a year ago.
Vacancies increased in seven of the eight occupational groups monitored by the department.
The strongest monthly increase wasfor labourers, rising by 6.4 per cent, followed by a 5.5 percent rise in sales workers.
Technicians and trades workers were the only group to decline, easing by 0.2per cent.
Vacancies largely concentrated on the nation's two most populous states - NSW and Victoria - rising by 6.9 per centand 5.4 per cent respectively in October.
The biggest fall was in the ACT, dropping 8.4 per cent, with theterritory also posting the largest annual decline of 21.1 per cent.
The Department of Education, Employment and Workplace Relations internet vacancy index rose to a seasonally adjusted 70.7 points in the month, although this is still 14.1 per cent lower from a year ago.
Vacancies increased in seven of the eight occupational groups monitored by the department.
The strongest monthly increase wasfor labourers, rising by 6.4 per cent, followed by a 5.5 percent rise in sales workers.
Technicians and trades workers were the only group to decline, easing by 0.2per cent.
Vacancies largely concentrated on the nation's two most populous states - NSW and Victoria - rising by 6.9 per centand 5.4 per cent respectively in October.
The biggest fall was in the ACT, dropping 8.4 per cent, with theterritory also posting the largest annual decline of 21.1 per cent.
List of Banks in South Africa
Here's a listing of banking institutions in South Africa, from the monetary authorityto locally controlled banks and branches of foreign banks to banking-related organisations. Monetary authority
South African Reserve Bank
www.reservebank.co.za
Locally controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd - now a foreign controlled bank, seebelow www.absa.co.za
African Bank Ltd www.africanbank.co.za
BoE Private Clients (a division of Nedbank) www.boeprivateclients.co.za
Bidvest Bank Limited www.bidvest.co.za
Capitec Bank Ltd www.capitecbank.co.za
Fairbairn Private Bank (a division of Nedbank) www.fairbairnpb.com
FirstRand Bank Ltd www.firstrand.co.za
First National Bank (a division of FirstRand Bank) www.fnb.co.za
Imperial Bank Ltd (a subsidiary of the Nedbank Group) www.imperialbank.co.za
Investec Bank Ltd www.investec.com
Marriott Corporate Property Bank Ltd. (a subsidiary of Marriott Holdings Ltd.) www.marriott.co.za
MEEG Bank Ltd www.meegbank.co.za
Nedbank Group Ltd www.nedbankgroup.com
Nedbank (a division of the Nedbank Group) www.nedbankgroup.com
Old Mutual Bank (a divisionof Nedbank) www.oldmutual.co.za/ombank
Go Banking (a division of Nedbank in association withPick 'n Pay) www.gobanking.co.za
Rand Merchant Bank (a division of FirstRand Bank) www.rmb.co.za
Rennies Bank Ltd (now a division of Bidvest Bank) www.bidvest.co.za
RMB Private Bank (a division of FirstRand Bank) www.rmbprivatebank.co.za
Sasfin Bank Ltd www.sasfin.co.za
Standard Bank of SA Ltd, The www.standardbank.co.za
TEBA Bank Ltd www.tebabank.co.za
Wesbank (a division of FirstRand Bank) www.wesbank.co.za
Foreign controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd (a member of Barclays Bank Group) www.absa.co.za
Albaraka Bank Limited www.albaraka.co.za
Habib Overseas Bank Limited www.habibbank.com
HBZ Bank Limited (a subsidiary of Habib Bank) www.hbzbank.co.za
Mercantile Bank Limited www.mercantile.co.za
South African Bank of Athens Limited, The www.bankofathens.co.za
Branches of foreign banks
(registered in terms of the Banks Act)
ABN AMRO Bank N.V. www.abnamro.com
Bank of Baroda www.bankofbaroda.com
Bank of China, Johannesburg Branch www.bank-of-china.com
Bank of Taiwan, SA Branch www.bot.com.tw/english
Barclays Bank plc (now incorporated into Absa Bank) www.barclays.com
Calyon Corporate and Investment Bank SA www.calyon.com
China Construction Bank, Johannesburg Branch www.ccbjhb.com
Citibank N.A. www.citibank.co.za
Commerzbank Aktiengesellschaft www.commerzbank.com
Deutsche Bank AG www.db.com
HSBC Bank plc, Johannesburg Branch www.hsbc.com
JPMorgan Chase Bank, N.A.,Johannesburg Branch www.jpmorgan.com
Société Générale, Johannesburg Branch www.socgen.com
Standard Chartered Bank, Johannesburg Branch www.standardchartered.com
State Bank of India www.statebank.co.za
Mutual banks
(registered in terms of the Mutual Banks Act)
GBS Mutual Bank www.gbsbank.co.za
VBS Mutual Bank www.vbsmutualbank.co.za
Other banks
Development Bank of Southern Africa www.dbsa.org
Land and Agricultural Development Bank of SouthAfrica www.landbank.co.za
Postbank www.sapo.co.za
Savings and credit co-operatives (SACCOs)
See The Savings and Credit Cooperative League of SA (SACCOL) www.saccol.org.za
South African Reserve Bank
www.reservebank.co.za
Locally controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd - now a foreign controlled bank, seebelow www.absa.co.za
African Bank Ltd www.africanbank.co.za
BoE Private Clients (a division of Nedbank) www.boeprivateclients.co.za
Bidvest Bank Limited www.bidvest.co.za
Capitec Bank Ltd www.capitecbank.co.za
Fairbairn Private Bank (a division of Nedbank) www.fairbairnpb.com
FirstRand Bank Ltd www.firstrand.co.za
First National Bank (a division of FirstRand Bank) www.fnb.co.za
Imperial Bank Ltd (a subsidiary of the Nedbank Group) www.imperialbank.co.za
Investec Bank Ltd www.investec.com
Marriott Corporate Property Bank Ltd. (a subsidiary of Marriott Holdings Ltd.) www.marriott.co.za
MEEG Bank Ltd www.meegbank.co.za
Nedbank Group Ltd www.nedbankgroup.com
Nedbank (a division of the Nedbank Group) www.nedbankgroup.com
Old Mutual Bank (a divisionof Nedbank) www.oldmutual.co.za/ombank
Go Banking (a division of Nedbank in association withPick 'n Pay) www.gobanking.co.za
Rand Merchant Bank (a division of FirstRand Bank) www.rmb.co.za
Rennies Bank Ltd (now a division of Bidvest Bank) www.bidvest.co.za
RMB Private Bank (a division of FirstRand Bank) www.rmbprivatebank.co.za
Sasfin Bank Ltd www.sasfin.co.za
Standard Bank of SA Ltd, The www.standardbank.co.za
TEBA Bank Ltd www.tebabank.co.za
Wesbank (a division of FirstRand Bank) www.wesbank.co.za
Foreign controlled banks
(registered in terms of the Banks Act)
Absa Bank Ltd (a member of Barclays Bank Group) www.absa.co.za
Albaraka Bank Limited www.albaraka.co.za
Habib Overseas Bank Limited www.habibbank.com
HBZ Bank Limited (a subsidiary of Habib Bank) www.hbzbank.co.za
Mercantile Bank Limited www.mercantile.co.za
South African Bank of Athens Limited, The www.bankofathens.co.za
Branches of foreign banks
(registered in terms of the Banks Act)
ABN AMRO Bank N.V. www.abnamro.com
Bank of Baroda www.bankofbaroda.com
Bank of China, Johannesburg Branch www.bank-of-china.com
Bank of Taiwan, SA Branch www.bot.com.tw/english
Barclays Bank plc (now incorporated into Absa Bank) www.barclays.com
Calyon Corporate and Investment Bank SA www.calyon.com
China Construction Bank, Johannesburg Branch www.ccbjhb.com
Citibank N.A. www.citibank.co.za
Commerzbank Aktiengesellschaft www.commerzbank.com
Deutsche Bank AG www.db.com
HSBC Bank plc, Johannesburg Branch www.hsbc.com
JPMorgan Chase Bank, N.A.,Johannesburg Branch www.jpmorgan.com
Société Générale, Johannesburg Branch www.socgen.com
Standard Chartered Bank, Johannesburg Branch www.standardchartered.com
State Bank of India www.statebank.co.za
Mutual banks
(registered in terms of the Mutual Banks Act)
GBS Mutual Bank www.gbsbank.co.za
VBS Mutual Bank www.vbsmutualbank.co.za
Other banks
Development Bank of Southern Africa www.dbsa.org
Land and Agricultural Development Bank of SouthAfrica www.landbank.co.za
Postbank www.sapo.co.za
Savings and credit co-operatives (SACCOs)
See The Savings and Credit Cooperative League of SA (SACCOL) www.saccol.org.za
List of Banks in Malaysia
Affin Bank Berhad
Alliance Bank Berhad
AmBank Berhad
CIMB Bank Berhad
EON Bank Berhad
Hong Leong Bank Berhad
Malayan Banking Berhad (Maybank)
Public Bank Berhad
RHB Bank Berhad
Citibank
HSBC Bank Malaysia
Oversea-Chinese Banking Corporation (OCBC Bank)
The Standard Chartered Bank (StanChart)
The Bank of Nova Scotia (Scotiabank)
The Royal Bank of Scotland (RBS)-Former ABN Amro
United Overseas Bank (UOB)
Bangkok Bank Berhad
Bank of China Malaysia Berhad
Deutsche Bank Malaysia Berhad
Bank of Tokyo-Mitsubishi UFJ Malaysia Berhad
Bank of America Malaysia Berhad
Industrial and Commercial Bank of China Berhad[1][2]
J.P Morgan Chase Bank Berhad
ANZ National Bank Limited
The Bank of East Asia Ltd (BEA)
The Bank of Tokyo-Mitsubishi UFJ Limited
The Bank of New York Mellon Limited
Credit Suisse Limited
DBS Bank Limited
National Australia Bank (NAB)
The Royal Bank of Scotland Limited
UCO Bank Limited
Deutsche Bank (M) Berhad
JPMorgan Chase & Co.Bank (M) Berhad
Bangkok Bank (M) Berhad
Bank of America (M) Berhad
Bank of China (M) Berhad
Bank of Tokyo-Mitsubishi UFJ (M) Berhad
Affin Bank Berhad
Al-Hidayah Investment Bank(Labuan) Ltd (Labuan Branch)
Aminternational (Labuan) Ltd (Labuan Branch)
AmMerchant Bank Berhad
Bank Islam Malaysia Berhad, (Labuan Offshore Branch)
Bank Muamalat Malaysia Berhad, (Labuan Offshore Branch)
Bank of America National Association Berhad, (Labuan Branch)
The Bank of East Asia Ltd (BEA) (Labuan Branch)
The Bank of Nova Scotia (Labuan Branch)
The Bank of Tokyo-Mitsubishi UFJ Limited (Labuan Branch)
Barclays Bank PLC (Labuan Branch)
BNP Paribas (Labuan Branch)
Calyon (Labuan Branch)
Capital Investment Bank Limited (Labuan)
Cathay United Bank (Labuan)
Consolidated Credit(S)Berhad
CIMB Bank (L) Limited
Citibank Malaysia (L) Limited (Labuan)
City Credit Investment Bank Limited (Labuan)
Commercial IBT (Labuan Branch)
Credit Suisse (Labuan Branch)
DBS Bank Limited (Labuan Branch)
Deutsche Bank AG (Labuan Branch)
Dresdner Bank AG (Labuan Branch)
ECM Libra Investment Bank Limited (Labuan)
The Hongkong and Shanghai Banking Corporation Limited OffshoreBanking Unit (Labuan)
ING Bank NV (Labuan Branch)
The International Commercial Bank of China (Labuan Branch)
J.P. Morgan Malaysia Ltd (Labuan)
J.P. Morgan Chase Bank National Association (Labuan Branch)
KBC Bank NV (Labuan Branch)
Kuwait Finance House Labuan Berhad (Labuan Branch)
Lloyds TSB Bank PLC (Labuan Branch)
Mizuho Corporate Bank Ltd (Labuan Branch)
Macquarie Bank Limited (Labuan Branch)
Maybank International (L) Ltd (Labuan Branch)
Morgan Stanley Labuan Investment Bank Limited (Labuan Branch)
Natexis Banques Populaires (Labuan Branch)
OSK Investment Bank (Labuan) Limited (Labuan)
OCBC Bank Limited (Labuan Branch)
Public Bank (L) Limited (Labuan)
Rabobank Nederland (Labuan Branch)
RHB Bank (L) Ltd (Labuan)
The Royal Bank of Scotland PLC (Labuan Branch)
RUSD Investment Bank Inc (Labuan)
Schroders Malaysia (L) Berhad (Labuan)
Societe Generale (Labuan Branch)
Sumitomo Mitsui Banking Corporation (Labuan Branch)
UBS AG (Labuan Branch)
United Overseas Bank Limited (Labuan Branch)
Affin Investment Bank Berhad
Alliance Investment Bank Berhad
AmInvestment Bank Berhad
CIMB Investment Bank Berhad
ECM Libra Investment Bank Berhad
Hwang-DBS Investment Bank Berhad
KAF Investment Bank Berhad
Kenanga Investment Bank Berhad
Maybank Investment Bank Berhad
MIDF Investment Bank Berhad
MIMB Investment Bank Berhad
OSK Investment Bank Berhad
Public Investment Bank Berhad
RHB Investment Bank Berhad
Southern Investment Bank Berhad
Bank Kerjsama Rakyat Malaysia Berhad
Asian Finance Bank Berhad
Alliance Islamic Bank Berhad
Asian Finance Bank (M) Berhad
Bank Islam Malaysia Berhad
Bank Muamalat Malaysia Berhad
Hong Leong Islamic BankingBerhad
CIMB Islamic Bank Berhad
RHB Islamic Bank Berhad
AmIslamic Bank Berhad
Affin Islamic Bank Berhad
Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
EONCAP Islamic Bank Berhad
Kuwait Finance House (Malaysia) Berhad
Maybank Islamic Berhad
Public Islamic Bank Berhad
Koperasi Bank Persatuan Malaysia Berhad (Bank Persatuan)
HSBC Amanah Malaysia Berhad
OCBC Al-Amin Bank Berhad
Agro Bank Malaysia
Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat)
Bank Simpanan Nasional Berhad
Export-Import Bank of Malaysia Berhad (Exim Bank)
Bank Perusahaan Kecil & Sederhana Berhad ((Small Medium Enterprise) SME Bank Berhad)
Sabah Development Bank Berhad (SDB)
Sabah Credit Corporation Berhad
Lembaga Tabung Haji
Credit Guarantee CorporationMalaysia Berhad (CGC)
Malaysian Industrial Development Finance Berhad (MIDF)
Bank Pembangunan MalaysiaBerhad (BPMB) (The development bank of Malaysia)
Standard Chartered Saadiq Berhad
Alliance Bank Berhad
AmBank Berhad
CIMB Bank Berhad
EON Bank Berhad
Hong Leong Bank Berhad
Malayan Banking Berhad (Maybank)
Public Bank Berhad
RHB Bank Berhad
Citibank
HSBC Bank Malaysia
Oversea-Chinese Banking Corporation (OCBC Bank)
The Standard Chartered Bank (StanChart)
The Bank of Nova Scotia (Scotiabank)
The Royal Bank of Scotland (RBS)-Former ABN Amro
United Overseas Bank (UOB)
Bangkok Bank Berhad
Bank of China Malaysia Berhad
Deutsche Bank Malaysia Berhad
Bank of Tokyo-Mitsubishi UFJ Malaysia Berhad
Bank of America Malaysia Berhad
Industrial and Commercial Bank of China Berhad[1][2]
J.P Morgan Chase Bank Berhad
ANZ National Bank Limited
The Bank of East Asia Ltd (BEA)
The Bank of Tokyo-Mitsubishi UFJ Limited
The Bank of New York Mellon Limited
Credit Suisse Limited
DBS Bank Limited
National Australia Bank (NAB)
The Royal Bank of Scotland Limited
UCO Bank Limited
Deutsche Bank (M) Berhad
JPMorgan Chase & Co.Bank (M) Berhad
Bangkok Bank (M) Berhad
Bank of America (M) Berhad
Bank of China (M) Berhad
Bank of Tokyo-Mitsubishi UFJ (M) Berhad
Affin Bank Berhad
Al-Hidayah Investment Bank(Labuan) Ltd (Labuan Branch)
Aminternational (Labuan) Ltd (Labuan Branch)
AmMerchant Bank Berhad
Bank Islam Malaysia Berhad, (Labuan Offshore Branch)
Bank Muamalat Malaysia Berhad, (Labuan Offshore Branch)
Bank of America National Association Berhad, (Labuan Branch)
The Bank of East Asia Ltd (BEA) (Labuan Branch)
The Bank of Nova Scotia (Labuan Branch)
The Bank of Tokyo-Mitsubishi UFJ Limited (Labuan Branch)
Barclays Bank PLC (Labuan Branch)
BNP Paribas (Labuan Branch)
Calyon (Labuan Branch)
Capital Investment Bank Limited (Labuan)
Cathay United Bank (Labuan)
Consolidated Credit(S)Berhad
CIMB Bank (L) Limited
Citibank Malaysia (L) Limited (Labuan)
City Credit Investment Bank Limited (Labuan)
Commercial IBT (Labuan Branch)
Credit Suisse (Labuan Branch)
DBS Bank Limited (Labuan Branch)
Deutsche Bank AG (Labuan Branch)
Dresdner Bank AG (Labuan Branch)
ECM Libra Investment Bank Limited (Labuan)
The Hongkong and Shanghai Banking Corporation Limited OffshoreBanking Unit (Labuan)
ING Bank NV (Labuan Branch)
The International Commercial Bank of China (Labuan Branch)
J.P. Morgan Malaysia Ltd (Labuan)
J.P. Morgan Chase Bank National Association (Labuan Branch)
KBC Bank NV (Labuan Branch)
Kuwait Finance House Labuan Berhad (Labuan Branch)
Lloyds TSB Bank PLC (Labuan Branch)
Mizuho Corporate Bank Ltd (Labuan Branch)
Macquarie Bank Limited (Labuan Branch)
Maybank International (L) Ltd (Labuan Branch)
Morgan Stanley Labuan Investment Bank Limited (Labuan Branch)
Natexis Banques Populaires (Labuan Branch)
OSK Investment Bank (Labuan) Limited (Labuan)
OCBC Bank Limited (Labuan Branch)
Public Bank (L) Limited (Labuan)
Rabobank Nederland (Labuan Branch)
RHB Bank (L) Ltd (Labuan)
The Royal Bank of Scotland PLC (Labuan Branch)
RUSD Investment Bank Inc (Labuan)
Schroders Malaysia (L) Berhad (Labuan)
Societe Generale (Labuan Branch)
Sumitomo Mitsui Banking Corporation (Labuan Branch)
UBS AG (Labuan Branch)
United Overseas Bank Limited (Labuan Branch)
Affin Investment Bank Berhad
Alliance Investment Bank Berhad
AmInvestment Bank Berhad
CIMB Investment Bank Berhad
ECM Libra Investment Bank Berhad
Hwang-DBS Investment Bank Berhad
KAF Investment Bank Berhad
Kenanga Investment Bank Berhad
Maybank Investment Bank Berhad
MIDF Investment Bank Berhad
MIMB Investment Bank Berhad
OSK Investment Bank Berhad
Public Investment Bank Berhad
RHB Investment Bank Berhad
Southern Investment Bank Berhad
Bank Kerjsama Rakyat Malaysia Berhad
Asian Finance Bank Berhad
Alliance Islamic Bank Berhad
Asian Finance Bank (M) Berhad
Bank Islam Malaysia Berhad
Bank Muamalat Malaysia Berhad
Hong Leong Islamic BankingBerhad
CIMB Islamic Bank Berhad
RHB Islamic Bank Berhad
AmIslamic Bank Berhad
Affin Islamic Bank Berhad
Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
EONCAP Islamic Bank Berhad
Kuwait Finance House (Malaysia) Berhad
Maybank Islamic Berhad
Public Islamic Bank Berhad
Koperasi Bank Persatuan Malaysia Berhad (Bank Persatuan)
HSBC Amanah Malaysia Berhad
OCBC Al-Amin Bank Berhad
Agro Bank Malaysia
Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat)
Bank Simpanan Nasional Berhad
Export-Import Bank of Malaysia Berhad (Exim Bank)
Bank Perusahaan Kecil & Sederhana Berhad ((Small Medium Enterprise) SME Bank Berhad)
Sabah Development Bank Berhad (SDB)
Sabah Credit Corporation Berhad
Lembaga Tabung Haji
Credit Guarantee CorporationMalaysia Berhad (CGC)
Malaysian Industrial Development Finance Berhad (MIDF)
Bank Pembangunan MalaysiaBerhad (BPMB) (The development bank of Malaysia)
Standard Chartered Saadiq Berhad
List of banks in United kingdom with phone numbers
AAREAL BANK +44 207 456 9200
ABBEY NATIONAL PLC +44 845 7654321
ABC INTERNATIONAL BANK PLC +44 207 776 4000
ABCUL CREDIT UNION +44 161 832 3694
ABN AMRO BANK +44 207 678 6300
ADAM & COMPANY PLC +44 131 225 8484
AFFINION INTERNATIONAL LIMITED +44 175 375 3377
AFGHAN NATIONAL CREDIT & FINANCE LTD +44 207 348 5980
AHLI UNITED BANK (UK) PLC +44 207 487 6500
AIRDRIE SAVINGS BANK +44 1236 766851
ALLIANCE FUND MANAGERS LIMITED +44 151 236 4040
ALLIANCE & LEICESTER PLC +44 116 201 1000
ALLIANCE TRUST PLC +44 1382 201700
ALLIED BANK PHILIPPINES(UK) PLC +44 207 233 6311
ALLIED IRISH BANK (GB) +44 171 606 4900
ALPHA BANK LONDON LTD +44 207 332 9200
AMC BANK LTD +44 1264 334747
ANGLO IRISH BANK +44 207 710 7000
ANGLO-ROMANIAN BANK LTD +44 207 826 4200
ANSBACHER AND CO LIMITED +44 207 089 4700
ANZ BANK +44 203 229 2121
ARAB BANK PLC +44 207 315 8600
ARBUTHNOT BANKING GROUP +44 207 012 2400
ARBUTHNOT SECURITIES LTD +44 207 012 2000
ARCAPITA LIMITED +44 207 824 5600
ASSOCIATES CAPITAL CORPORATION LTD +44 289 023 2555
AVCO TRUST PLC NA
AY BANK LTD NA
B
BACHE COMMODITIES LIMITED +44 207 283 9166
BANCA CABOTO S.P.A +44 207 894 2600
BANCO BILBAO VIZCAYA ARGENTARIA S.A. (BBVA) +44 207 623 3060
BANC OF AMERICA LTD +44 207 174 4000
BANCO SANTANDER TOTTA +44 207 621 2660
BANKERS TRUST INTERNATIONAL PLC NA
BANKGESELLSCHAFT BERLIN (UK) PLC NA
BANK LEUMI (UK) PLC +44 207 907 8000
BANK MANDIRI (EUROPE) LIMITED +44 207 553 8688
BANK MORGAN STANLEY AG +44 207 425 8000
BANK OF AMERICA INTERNATIONAL LTD NA
BANK OF BARODA +44 207 457 1515
BANK OF CEYLON +44 207 880 0121
BANK OF CHINA INTERNATIONAL (UK) LTD +44 207 022 8888
BANK OF CYPRUS (LONDON) LTD +44 845 850 5555
BANK OF ENGLAND +44 207 601 4444
BANK OF IRELAND +44 20 8977 0222
BANK OF MONTREAL EUROPE LTD NA
BANK OF SCOTLAND +44 131 317 6853
BANK OF SCOTLAND PLC TREASURY DIVISION +44 207 574 8000
BANK OF WALES PLC NA
BANK ONE NA
BANK SADERAT PLC +44 207 600 0133
BANK SEPAH INTERNATIONAL PLC +44 207 623 1371
BANKS & PARTNERS +44 163 547 337
BANQUE ACOVO LTD. NA
BANQUE EDOUARD CONSTANT +44 171 235 4441
BARCLAYS BANK PLC +44 207 116 1000
BARCLAYS CAPITAL +44 171 623 2323
BARCLAYS DE ZOETE WEDDLTD +44 171 623 2323
BARCLAYS ESTATES TRUSTS +44 845 766 0936
BARING BROTHERS LTD NA
BARNSLEY BUILDING SOCIETY +44 122 673 3999
BATH BUILDING SOCIETY +44 122 542 3271
BATH INVESTMENT AND BUILDING SOCIETY +44 122 542 3271
BENEFICIAL BANK +44 118 978 3009
BENEFICIAL BANK PLC NA
BERLIN HYP +44 207 572 6493
BEVERLEY BUILDING SOCIETY +44 148 288 1510
BIRMINGHAM MIDSHIRES BUILDING SOCIETY +44 190 230 2000
BNP PARIBAS LONDON BRANCH +44 207 595 2000
BRADFORD BINGLEY PLC +44 800 113 333
BRAVREST LIMITED +44 7050 669 481
BRISTOL & WEST PLC +44 117 979 2222
BRITANNIA BUILDING SOCIETY +44 153 839 9399
BRITISH ARAB COMMERCIAL BANK LTD +44 20 7648 7777
BROWN SHIPLEY CO LTD +44 207 606 9833
BSI GENERALI UK LIMITED +44 207 332 2080
BUCKINGHAMSHIRE BUILDING SOCIETY +44 149 487 9500
BUTTERFIELD PRIVATE BANK +44 207 776 6700
C
CAFCASH LTD NA
CAMBRIDGE BUILDING SOCIETY +44 122 372 7727
CAPITAL BANK PLC NA
CAPITAL ONE BANK (EUROPE) PLC +44 8458 400 400
CATER ALLEN PRIVATE BANK +44 114 228 2407
CATHOLIC BUILDING SOCIETY +44 207 222 6736
CENTURY BUILDING SOCIETY +44 131 556 1711
CHANG HWA COMMERCIAL BANK LTD +44 207 600 6600
CHARTERED TRUST PLC NA
CHARTERHOUSE CAPITAL PARTNERS LLP +44 207 334 5300
CHELSEA BUILDING SOCIETY +44 124 227 1271
CHELTENHAM & GLOUCESTER +44 800 028 0639
CHESHAM BUILDING SOCIETY +44 800 068 4784
CHESHIRE BUILDING SOCIETY +44 162 561 3612
C HOARE CO +44 207 353 4522
CHORLEY & DISTRICT BUILDING SOCIETY +44 125 727 9373
CHURCH HOUSE TRUST +44 193 542 4427
CIBC - CANADIAN IMPERIAL BANK OF COMMERCE +44 207 234 6000
CIMB BANK BERHAD +44 207 201 3150
CITIBANK INTERNATIONAL PLC +44 207 986 6000
CITY OF DERRY BUILDING SOCIETY +44 287 137 0037
CLARIDEN LEU ASSET MANAGEMENT (UK) LTD +44 207 811 5100
CLAY CROSS BUILDING SOCIETY +44 124 686 2120
CLIVE DISCOUNT COMPANY LTD NA
CLOSE BROTHERS LTD +44 207 655 3100
CLOSE PRIVATE ASSET MANAGEMENT LIMITED +44 207 426 4000
CLYDESDALE BANK PCL +44 141 248 7070
COMMONWEALTH FINANCE SOLUTIONS LTD +44 149 443 4288
CONFEDERACION ESPANOLA DE CAJAS DE AHORROS NA
CONSOLIDATED CREDITS BANK LTD +44 208 891 8924
COUTTS & CO +44 171 753 1719
COVENTRY BUILDING SOCIETY +44 247 655 5255
CREDIT AGRICOLE LAZARDFINANCIAL PRODUCTS BANK +44 207 303 8000
CREDIT SUISSE FIRST BOSTON +44 114 420 7888
CROWN AGENTS FINANCIAL SERVICES LTD +44 208 643 3311
CUMBERLAND BUILDING SOCIETY +44 122 854 1341
D
DAIWA ASSET MANAGEMENT (EUROPE) LTD +44 207 597 7050
DALBEATTIE FINANCE CO LTD +44 155 661 0243
DAO HENG BANK (LONDON) PLC NA
DARLINGTON BUILDING SOCIETY +44 132 536 6366
DBS BANK LTD +44 207 489 6550
DEPFA BANK +44 207 290 8400
DERBYSHIRE BUILDING SOCIETY +44 845 600 4005
DEUTSCHE BANK +44 207 545 8000
DEUTSCHE HYPOTHEKENBANK +44 207 920 0100
DEUTSCHE POSTBANK AG +44 207 634 2300
DEUTSCHE SCHIFFSBANK AG +44 207 643 2244
DEXIA BANK LONDON +44 207 556 3000
DIRECT LINE FINANCIAL SERVICES LTD NA
DRESDNER PRIVATE BANKING +44 207 495 4630
DRYFIELD TRUST PLC NA
DUDLEY BUILDING SOCIETY +44 138 423 1414
ABBEY NATIONAL PLC +44 845 7654321
ABC INTERNATIONAL BANK PLC +44 207 776 4000
ABCUL CREDIT UNION +44 161 832 3694
ABN AMRO BANK +44 207 678 6300
ADAM & COMPANY PLC +44 131 225 8484
AFFINION INTERNATIONAL LIMITED +44 175 375 3377
AFGHAN NATIONAL CREDIT & FINANCE LTD +44 207 348 5980
AHLI UNITED BANK (UK) PLC +44 207 487 6500
AIRDRIE SAVINGS BANK +44 1236 766851
ALLIANCE FUND MANAGERS LIMITED +44 151 236 4040
ALLIANCE & LEICESTER PLC +44 116 201 1000
ALLIANCE TRUST PLC +44 1382 201700
ALLIED BANK PHILIPPINES(UK) PLC +44 207 233 6311
ALLIED IRISH BANK (GB) +44 171 606 4900
ALPHA BANK LONDON LTD +44 207 332 9200
AMC BANK LTD +44 1264 334747
ANGLO IRISH BANK +44 207 710 7000
ANGLO-ROMANIAN BANK LTD +44 207 826 4200
ANSBACHER AND CO LIMITED +44 207 089 4700
ANZ BANK +44 203 229 2121
ARAB BANK PLC +44 207 315 8600
ARBUTHNOT BANKING GROUP +44 207 012 2400
ARBUTHNOT SECURITIES LTD +44 207 012 2000
ARCAPITA LIMITED +44 207 824 5600
ASSOCIATES CAPITAL CORPORATION LTD +44 289 023 2555
AVCO TRUST PLC NA
AY BANK LTD NA
B
BACHE COMMODITIES LIMITED +44 207 283 9166
BANCA CABOTO S.P.A +44 207 894 2600
BANCO BILBAO VIZCAYA ARGENTARIA S.A. (BBVA) +44 207 623 3060
BANC OF AMERICA LTD +44 207 174 4000
BANCO SANTANDER TOTTA +44 207 621 2660
BANKERS TRUST INTERNATIONAL PLC NA
BANKGESELLSCHAFT BERLIN (UK) PLC NA
BANK LEUMI (UK) PLC +44 207 907 8000
BANK MANDIRI (EUROPE) LIMITED +44 207 553 8688
BANK MORGAN STANLEY AG +44 207 425 8000
BANK OF AMERICA INTERNATIONAL LTD NA
BANK OF BARODA +44 207 457 1515
BANK OF CEYLON +44 207 880 0121
BANK OF CHINA INTERNATIONAL (UK) LTD +44 207 022 8888
BANK OF CYPRUS (LONDON) LTD +44 845 850 5555
BANK OF ENGLAND +44 207 601 4444
BANK OF IRELAND +44 20 8977 0222
BANK OF MONTREAL EUROPE LTD NA
BANK OF SCOTLAND +44 131 317 6853
BANK OF SCOTLAND PLC TREASURY DIVISION +44 207 574 8000
BANK OF WALES PLC NA
BANK ONE NA
BANK SADERAT PLC +44 207 600 0133
BANK SEPAH INTERNATIONAL PLC +44 207 623 1371
BANKS & PARTNERS +44 163 547 337
BANQUE ACOVO LTD. NA
BANQUE EDOUARD CONSTANT +44 171 235 4441
BARCLAYS BANK PLC +44 207 116 1000
BARCLAYS CAPITAL +44 171 623 2323
BARCLAYS DE ZOETE WEDDLTD +44 171 623 2323
BARCLAYS ESTATES TRUSTS +44 845 766 0936
BARING BROTHERS LTD NA
BARNSLEY BUILDING SOCIETY +44 122 673 3999
BATH BUILDING SOCIETY +44 122 542 3271
BATH INVESTMENT AND BUILDING SOCIETY +44 122 542 3271
BENEFICIAL BANK +44 118 978 3009
BENEFICIAL BANK PLC NA
BERLIN HYP +44 207 572 6493
BEVERLEY BUILDING SOCIETY +44 148 288 1510
BIRMINGHAM MIDSHIRES BUILDING SOCIETY +44 190 230 2000
BNP PARIBAS LONDON BRANCH +44 207 595 2000
BRADFORD BINGLEY PLC +44 800 113 333
BRAVREST LIMITED +44 7050 669 481
BRISTOL & WEST PLC +44 117 979 2222
BRITANNIA BUILDING SOCIETY +44 153 839 9399
BRITISH ARAB COMMERCIAL BANK LTD +44 20 7648 7777
BROWN SHIPLEY CO LTD +44 207 606 9833
BSI GENERALI UK LIMITED +44 207 332 2080
BUCKINGHAMSHIRE BUILDING SOCIETY +44 149 487 9500
BUTTERFIELD PRIVATE BANK +44 207 776 6700
C
CAFCASH LTD NA
CAMBRIDGE BUILDING SOCIETY +44 122 372 7727
CAPITAL BANK PLC NA
CAPITAL ONE BANK (EUROPE) PLC +44 8458 400 400
CATER ALLEN PRIVATE BANK +44 114 228 2407
CATHOLIC BUILDING SOCIETY +44 207 222 6736
CENTURY BUILDING SOCIETY +44 131 556 1711
CHANG HWA COMMERCIAL BANK LTD +44 207 600 6600
CHARTERED TRUST PLC NA
CHARTERHOUSE CAPITAL PARTNERS LLP +44 207 334 5300
CHELSEA BUILDING SOCIETY +44 124 227 1271
CHELTENHAM & GLOUCESTER +44 800 028 0639
CHESHAM BUILDING SOCIETY +44 800 068 4784
CHESHIRE BUILDING SOCIETY +44 162 561 3612
C HOARE CO +44 207 353 4522
CHORLEY & DISTRICT BUILDING SOCIETY +44 125 727 9373
CHURCH HOUSE TRUST +44 193 542 4427
CIBC - CANADIAN IMPERIAL BANK OF COMMERCE +44 207 234 6000
CIMB BANK BERHAD +44 207 201 3150
CITIBANK INTERNATIONAL PLC +44 207 986 6000
CITY OF DERRY BUILDING SOCIETY +44 287 137 0037
CLARIDEN LEU ASSET MANAGEMENT (UK) LTD +44 207 811 5100
CLAY CROSS BUILDING SOCIETY +44 124 686 2120
CLIVE DISCOUNT COMPANY LTD NA
CLOSE BROTHERS LTD +44 207 655 3100
CLOSE PRIVATE ASSET MANAGEMENT LIMITED +44 207 426 4000
CLYDESDALE BANK PCL +44 141 248 7070
COMMONWEALTH FINANCE SOLUTIONS LTD +44 149 443 4288
CONFEDERACION ESPANOLA DE CAJAS DE AHORROS NA
CONSOLIDATED CREDITS BANK LTD +44 208 891 8924
COUTTS & CO +44 171 753 1719
COVENTRY BUILDING SOCIETY +44 247 655 5255
CREDIT AGRICOLE LAZARDFINANCIAL PRODUCTS BANK +44 207 303 8000
CREDIT SUISSE FIRST BOSTON +44 114 420 7888
CROWN AGENTS FINANCIAL SERVICES LTD +44 208 643 3311
CUMBERLAND BUILDING SOCIETY +44 122 854 1341
D
DAIWA ASSET MANAGEMENT (EUROPE) LTD +44 207 597 7050
DALBEATTIE FINANCE CO LTD +44 155 661 0243
DAO HENG BANK (LONDON) PLC NA
DARLINGTON BUILDING SOCIETY +44 132 536 6366
DBS BANK LTD +44 207 489 6550
DEPFA BANK +44 207 290 8400
DERBYSHIRE BUILDING SOCIETY +44 845 600 4005
DEUTSCHE BANK +44 207 545 8000
DEUTSCHE HYPOTHEKENBANK +44 207 920 0100
DEUTSCHE POSTBANK AG +44 207 634 2300
DEUTSCHE SCHIFFSBANK AG +44 207 643 2244
DEXIA BANK LONDON +44 207 556 3000
DIRECT LINE FINANCIAL SERVICES LTD NA
DRESDNER PRIVATE BANKING +44 207 495 4630
DRYFIELD TRUST PLC NA
DUDLEY BUILDING SOCIETY +44 138 423 1414
Tuesday 20 November 2012
UBS Trader Adoboli Is Jailed for Seven Years
Former UBS trader Kweku Adoboli was found guilty of fraud and sentenced to seven years in prison in connection with a $2.3 billion loss that hobbled the Swiss bank. Adoboli, a native of Ghana who joined the bank in 2003, initially said in an e-mail to a UBS accountant that he had booked fake hedges to hide the risk of his actions.He argued at trial that he was encouraged by superiors to exceed risk limits as he made profits from unauthorized trades. He said nothing he did was dishonest and he intended to make money for the bank.
Adoboli was sentenced bya London judge to seven years in jail on the fraud conviction, and must serveat least half of that term. The jury cleared him on charges of false accounting.
UBS said in a statement it was “glad the criminal proceedings have reached a conclusion.”
Britain’s Financial Services Authority and the Swiss Financial Market Supervisory Authority started formal enforcement actions against UBS over the loss in February. UBS found out in the aftermath of theincident that its internal controls designed to prevent or detect the use of unauthorized and fictitious transactions didn’t work.
“We have been absolutelydetermined to learn from this incident,” Ermotti said in a memo to employees before Adoboli’s trial started in September. “Wehave improved internal monitoring and controls toensure that something likethis does not recur, or if it does, to ensure that it is detected and dealt with swiftly.”
UBS introduced mandatory risk training forstaff globally and a redesigned training for supervisors, while adding risk management to employees’ performance objectives, according to information on its website.
Adoboli was sentenced bya London judge to seven years in jail on the fraud conviction, and must serveat least half of that term. The jury cleared him on charges of false accounting.
UBS said in a statement it was “glad the criminal proceedings have reached a conclusion.”
Britain’s Financial Services Authority and the Swiss Financial Market Supervisory Authority started formal enforcement actions against UBS over the loss in February. UBS found out in the aftermath of theincident that its internal controls designed to prevent or detect the use of unauthorized and fictitious transactions didn’t work.
“We have been absolutelydetermined to learn from this incident,” Ermotti said in a memo to employees before Adoboli’s trial started in September. “Wehave improved internal monitoring and controls toensure that something likethis does not recur, or if it does, to ensure that it is detected and dealt with swiftly.”
UBS introduced mandatory risk training forstaff globally and a redesigned training for supervisors, while adding risk management to employees’ performance objectives, according to information on its website.
Registered Life Insurance Companies in Australia
The Life Insurance companies listed below are registered under section 17 of the Life Insurance Act 1995.
This list was last updated on 16 May 2012.
*. AIA Australia Limited
*. Allianz Australia Life Insurance Limited
*. AMP Life Limited
*. Challenger Life Company Limited
*. ClearView Life Assurance Limited
*. Colonial Mutual Life Assurance Society Limited (The)
*. Combined Life Insurance Company of Australia Ltd
*. General Reinsurance Life Australia Ltd
*. GLOBAL Life Reinsurance Company of Australia Pty. Limited
*. Hallmark Life Insurance Company Ltd.
*. Hannover Life Re of Australasia Ltd
*. H C F Life Insurance Company Pty Limited
*. Macquarie Life Limited
*. MetLife Insurance Limited
*. MLC Limited
*. Munich Reinsurance Company of Australasia Limited
*. OnePath Life Limited
*. QBE Life (Australia) Limited
*. RGA Reinsurance Companyof Australia Limited
*. SCOR Global Life Australia Pty Limited
*. St Andrew's Life InsurancePty Ltd
*. St. George Life Limited
*. Suncorp Life & Superannuation Limited
*. Swiss Re Life & Health Australia Limited
*. TAL Life Limited
*. The National Mutual Life Association of Australasia Limited
*. Westpac Life Insurance Services Limited
*. Zurich Australia Limited
This list was last updated on 16 May 2012.
*. AIA Australia Limited
*. Allianz Australia Life Insurance Limited
*. AMP Life Limited
*. Challenger Life Company Limited
*. ClearView Life Assurance Limited
*. Colonial Mutual Life Assurance Society Limited (The)
*. Combined Life Insurance Company of Australia Ltd
*. General Reinsurance Life Australia Ltd
*. GLOBAL Life Reinsurance Company of Australia Pty. Limited
*. Hallmark Life Insurance Company Ltd.
*. Hannover Life Re of Australasia Ltd
*. H C F Life Insurance Company Pty Limited
*. Macquarie Life Limited
*. MetLife Insurance Limited
*. MLC Limited
*. Munich Reinsurance Company of Australasia Limited
*. OnePath Life Limited
*. QBE Life (Australia) Limited
*. RGA Reinsurance Companyof Australia Limited
*. SCOR Global Life Australia Pty Limited
*. St Andrew's Life InsurancePty Ltd
*. St. George Life Limited
*. Suncorp Life & Superannuation Limited
*. Swiss Re Life & Health Australia Limited
*. TAL Life Limited
*. The National Mutual Life Association of Australasia Limited
*. Westpac Life Insurance Services Limited
*. Zurich Australia Limited
transfer value
The amount of money whicha scheme will pay to anotherpension arrangement in lieu of benefits which have accrued to a member. Sometimes referred to as a CETV (cash equivalent transfer value).
trigger
1. Used to describe the particular situation which puts a scheme into wind up. It enables trustees to pinpoint the precise moment when this occurs, which becomes the 'as at' date for calculating benefits.
2. A feature of a scheme's recovery plan which will cause the regulator to check that members' benefits are not unduly threatened.
2. A feature of a scheme's recovery plan which will cause the regulator to check that members' benefits are not unduly threatened.
trivial commutation
The conversion of a pension, which is below a prescribed level, into a cash sum (commutation).
trustee
An individual or company appointed to carry out the purposes of a trust in accordance with the provisions of the trust instrument and general principles of trust law.
unsecured pension arrangement
An arrangement which allows a DC scheme memberof retirement age to defer the purchase of an annuity and instead invest the fundin assets of his choice. The member may or may not draw down an income, subject to certain limits.
This arrangement can usually only be maintained up to the age of 75.
This arrangement can usually only be maintained up to the age of 75.
value manager
A type of manager who aims to achieve results by investing in companies that offer high income returns in relation to the price of the shares (ie shares with a low price/earnings ratio).
Value managers tend to do relatively well in falling markets because shares with a low price/earnings ratio (cheap shares) tend to hold their value better than others, eg growth managers.
Value managers tend to do relatively well in falling markets because shares with a low price/earnings ratio (cheap shares) tend to hold their value better than others, eg growth managers.
List of banks in ukraine
1 ACCORDBANK COMMERCIAL BANK KIEV ACDCUAUKXXX
2 AGRARIAN COMMERCIAL BANK OJSC KIEV AGCBUAUKXXX
3 APEKS-BANK KIEV APKSUAUKXXX
4 ARCADA JSCB KIEV ARJSUAUKXXX
5 ARTEM-BANK KIEV ARTLUAUKXXX
6 ASTRABANK KIEV ASTRUAUKXXX
7 AVANT-BANK PJSC KIEV AVSCUAUKXXX
8 AVTOKRAZBANK KREMENCHUG AVTKUA22XXX
9 BANK 3/4 KIEV BKVKUAUKXXX
10 BANK CAMBIO PJSC KIEV CAULUAUKXXX
11 BANK FOR INVESTMENTS AND SAVINGS KIEV BFISUAUKXXX
12 BANK KYIV JS KIEV JKIEUAUKXXX
13 BANK NATIONAL CREDIT, PUBLIC JOINT-STOCK COMPANY KIEV NCRBUAUKXXX
14 BANK OF CYPRUS KIEV AVTOUA22XXX
15 BANK PIVDENNYI ODESA PIVDUA22XXX
16 BANK SICH KIEV SICHUAUKXXX
17 BANK VELES JSC KIEV VELSUAUKXXX
18 BM BANK, JSC KIEV BMLTUAUKXXX
19 BOHUSLAV BANK KIEV BOHUUAUKXXX
20 BROKBUSINESSBANK BILA TSERKVA (BILA TSERKVA BRANCH) BRBBUAUXBTR
21 BROKBUSINESSBANK CHERKASY (CHERKASY BRANCH) BRBBUAUXCHK
22 BROKBUSINESSBANK DNIPROPETROVSK (DNIPROPETROVSK BRANCH) BRBBUAUXDNI
23 BROKBUSINESSBANK DONETSK (DONETSK BRANCH) BRBBUAUXDON
24 BROKBUSINESSBANK GORLOVKA CITY (GORLOVKA BRANCH) BRBBUAUXGRL
25 BROKBUSINESSBANK IVANO-FRANKIVSK (IVANO-FRANKIVSK BRANCH) BRBBUAUXIVF
26 BROKBUSINESSBANK KHARKIV (KHARKIV BRANCH) BRBBUAUXKHA
27 BROKBUSINESSBANK KHERSON (KHERSON BRANCH) BRBBUAUXKHE
28 BROKBUSINESSBANK KHMELNYTSKY (KHMELNYTSKY BRANCH) BRBBUAUXKHM
29 BROKBUSINESSBANK KIEV (KIEV BRANCH) BRBBUAUXKIE
30 BROKBUSINESSBANK KIEV BRBBUAUXXXX
31 BROKBUSINESSBANK KRAMATORSK (KRAMATORSK BRANCH) BRBBUAUXKRA
32 BROKBUSINESSBANK LUHANSK (LUHANSK BRANCH) BRBBUAUXLUH
33 BROKBUSINESSBANK LUTSK (VOLYN BRANCH) BRBBUAUXLUT
34 BROKBUSINESSBANK LVIV (LVIV BRANCH) BRBBUAUXLVI
35 BROKBUSINESSBANK MYKOLAIV (MYKOLAIV BRANCH) BRBBUAUXMYK
36 BROKBUSINESSBANK ODESA (ODESA BRANCH) BRBBUAUXODE
37 BROKBUSINESSBANK RIVNE (RIVNE BRANCH) BRBBUAUXRIV
38 BROKBUSINESSBANK SLAVUTA (SLAVUTA BRANCH) BRBBUAUXSLV
39 BROKBUSINESSBANK SUMY (SUMY BRANCH) BRBBUAUXSUM
40 BROKBUSINESSBANK UZHHOROD (UZHHOROD BRANCH) BRBBUAUXUZH
41 BROKBUSINESSBANK VINNYTSIA (VINNITSIA BRANCH) BRBBUAUXVIN
42 BROKBUSINESSBANK ZAPORIZHZHYA (ZAPORIJYA BRANCH) BRBBUAUXZAP
43 CAPITAL PJSC JSC CB DONETSK CAPOUA2XXXX
44 CB ‘FINANCIAL INITIATIVE’ LLC KIEV CBFNUAUKXXX
45 CENTER COMMERCIAL BANK KIEV CENTUAUKXXX
46 CHERNOMORSKIY BANK OF DEVELOPMENT AND RECONSTRUCTION SIMFEROPOL CHRRUA22XXX
47 CLASSICBANK DNIPROPETROVSK CLBKUA2NXXX
48 CONVERSBANK, PJSC KIEV PATKUAUKXXX
49 CREDIT AGRICOLE BANK PJSC DNIPROPETROVSK (DNEPROPETROVSK BRANCH ) INEJUAUK201
50 CREDIT AGRICOLE BANK PJSC DONETSK (DONETSK BRANCH ) INEJUAUK501
51 CREDIT AGRICOLE BANK PJSC KHARKIV (KHARKOV BRANCH ) INEJUAUK401
52 CREDIT AGRICOLE BANK PJSC KIEV INEJUAUKXXX 53 CREDIT AGRICOLE BANK PJSC LVIV (LVOV BRANCH ) INEJUAUK101
54 CREDIT AGRICOLE BANK PJSC ODESA (ODESSA BRANCH) INEJUAUK711
55 CREDIT AGRICOLE BANK PJSC POLTAVA (POLTAVA BRANCH ) INEJUAUK301
56 CREDIT AGRICOLE BANK PJSC VINNYTSIA (VINNITSA BRANCH ) INEJUAUK601
57 CREDIT AGRICOLE CIB KIEV CRLYUAUXXXX
58 CREDIT DNEPR BANK, UKRAINE (HEAD OFFICE) DNIPROPETROVSK CRDEUA2NXXX
59 CREDIT EUROPE BANK KIEV FBHLUAUKXXX
60 DANIEL BANK KIEV DACLUAUKXXX
61 DELTABANK KIEV DELKUAUKXXX
62 DEMARK BANK JS CHERNIHIV DEMKUA22XXX
63 DIAMANT BANK JOINT STOCK BANK KIEV DMBAUAUKXXX
64 DV BANK PJSC KIEV DVBKUAUKXXX
65 ENERGOBANK KIEV ENERUAUXXXX
66 ERDE BANK VAT KIEV ERDEUAUKXXX
67 EUROBANK PJSC CB KIEV EUBNUAUKXXX
68 EUROGASBANK KIEV EURGUAUKXXX
69 EUROPEAN BANK OF RATIONAL FINANCING CJSC KIEV DONCUA2XXXX
70 FINANCIAL UNION BANK DNIPROPETROVSK FSBUUA2NXXX
71 FINBANK ODESA FNBKUA22XXX
72 FINEXBANK KIEV FINXUAUKXXX
73 FIRST INVESTMENT BANK KIEV FIBXUAUKXXX
74 FIRST UKRAINIAN INTERNATIONAL BANK DNIPROPETROVSK (COMMERCIAL BRANCH) FUIBUA2XDNI
75 FIRST UKRAINIAN INTERNATIONAL BANK DONETSK (COMMERCIAL BRANCH) FUIBUA2XDON
76 FIRST UKRAINIAN INTERNATIONAL BANK DONETSK (HEAD OFFICE) FUIBUA2XXXX
77 FIRST UKRAINIAN INTERNATIONAL BANK GORLOVKA CITY (COMMERCIAL BRANCH) FUIBUA2XGRV
78 FIRST UKRAINIAN INTERNATIONAL BANK KHARKIV (COMMERCIAL BRANCH) FUIBUA2XKHA
79 FIRST UKRAINIAN INTERNATIONAL BANK KIEV (MAIN COMMERCIAL BRANCH) FUIBUA2XKIE
80 FIRST UKRAINIAN INTERNATIONAL BANK LUHANSK (COMMERCIAL BRANCH) FUIBUA2XLUG
81 FIRST UKRAINIAN INTERNATIONAL BANK LVIV (COMMERCIAL BRANCH) FUIBUA2XLVO
82 FIRST UKRAINIAN INTERNATIONAL BANK MARIUPOL (COMMERCIAL BRANCH) FUIBUA2XMPL
83 FIRST UKRAINIAN INTERNATIONAL BANK MYKOLAIV (COMMERCIAL BRANCH) FUIBUA2XNIC
84 FIRST UKRAINIAN INTERNATIONAL BANK ODESA (COMMERCIAL BRANCH) FUIBUA2XODE
85 FIRST UKRAINIAN INTERNATIONAL BANK SEVASTOPOL (SEVASTOPOL BRANCH) FUIBUA2XSEL
86 FIRST UKRAINIAN INTERNATIONAL BANK SOLEDAR (COMMERCIAL BRANCH) FUIBUA2XSOL
87 FIRST UKRAINIAN INTERNATIONAL BANK ZAPOROZHYE (ZAPOROZHYE BRANCH) FUIBUA2XZAP
88 FORTUNA BANK LTD KIEV FTNAUAUKXXX
89 GLOBUS BANK KIEV GLIBUA22XXX
90 GRANT BANK KHARKIV (1ST SUBSIDIARY) GRBKUA2X011
91 GRANT BANK KHARKIV (2ND SUBSIDIARY) GRBKUA2X012
92 GRANT BANK KHARKIV GRBKUA2XXXX
93 GRANT BANK KIEV GRBKUA2XKIE
94 GRANT BANK YEVPATORIA GRBKUA2XEVP
95 IMEXBANK JSCB DNIPROPETROVSK (BRANCH IN DNIPROPETROVSK) IMEXUA2XDNP
96 IMEXBANK JSCB KIEV (BRANCH IN KIEV) IMEXUA2XKIE
97 IMEXBANK JSCB MYKOLAIV (BRANCH IN MYKOLAIV) IMEXUA2XMYK
2 AGRARIAN COMMERCIAL BANK OJSC KIEV AGCBUAUKXXX
3 APEKS-BANK KIEV APKSUAUKXXX
4 ARCADA JSCB KIEV ARJSUAUKXXX
5 ARTEM-BANK KIEV ARTLUAUKXXX
6 ASTRABANK KIEV ASTRUAUKXXX
7 AVANT-BANK PJSC KIEV AVSCUAUKXXX
8 AVTOKRAZBANK KREMENCHUG AVTKUA22XXX
9 BANK 3/4 KIEV BKVKUAUKXXX
10 BANK CAMBIO PJSC KIEV CAULUAUKXXX
11 BANK FOR INVESTMENTS AND SAVINGS KIEV BFISUAUKXXX
12 BANK KYIV JS KIEV JKIEUAUKXXX
13 BANK NATIONAL CREDIT, PUBLIC JOINT-STOCK COMPANY KIEV NCRBUAUKXXX
14 BANK OF CYPRUS KIEV AVTOUA22XXX
15 BANK PIVDENNYI ODESA PIVDUA22XXX
16 BANK SICH KIEV SICHUAUKXXX
17 BANK VELES JSC KIEV VELSUAUKXXX
18 BM BANK, JSC KIEV BMLTUAUKXXX
19 BOHUSLAV BANK KIEV BOHUUAUKXXX
20 BROKBUSINESSBANK BILA TSERKVA (BILA TSERKVA BRANCH) BRBBUAUXBTR
21 BROKBUSINESSBANK CHERKASY (CHERKASY BRANCH) BRBBUAUXCHK
22 BROKBUSINESSBANK DNIPROPETROVSK (DNIPROPETROVSK BRANCH) BRBBUAUXDNI
23 BROKBUSINESSBANK DONETSK (DONETSK BRANCH) BRBBUAUXDON
24 BROKBUSINESSBANK GORLOVKA CITY (GORLOVKA BRANCH) BRBBUAUXGRL
25 BROKBUSINESSBANK IVANO-FRANKIVSK (IVANO-FRANKIVSK BRANCH) BRBBUAUXIVF
26 BROKBUSINESSBANK KHARKIV (KHARKIV BRANCH) BRBBUAUXKHA
27 BROKBUSINESSBANK KHERSON (KHERSON BRANCH) BRBBUAUXKHE
28 BROKBUSINESSBANK KHMELNYTSKY (KHMELNYTSKY BRANCH) BRBBUAUXKHM
29 BROKBUSINESSBANK KIEV (KIEV BRANCH) BRBBUAUXKIE
30 BROKBUSINESSBANK KIEV BRBBUAUXXXX
31 BROKBUSINESSBANK KRAMATORSK (KRAMATORSK BRANCH) BRBBUAUXKRA
32 BROKBUSINESSBANK LUHANSK (LUHANSK BRANCH) BRBBUAUXLUH
33 BROKBUSINESSBANK LUTSK (VOLYN BRANCH) BRBBUAUXLUT
34 BROKBUSINESSBANK LVIV (LVIV BRANCH) BRBBUAUXLVI
35 BROKBUSINESSBANK MYKOLAIV (MYKOLAIV BRANCH) BRBBUAUXMYK
36 BROKBUSINESSBANK ODESA (ODESA BRANCH) BRBBUAUXODE
37 BROKBUSINESSBANK RIVNE (RIVNE BRANCH) BRBBUAUXRIV
38 BROKBUSINESSBANK SLAVUTA (SLAVUTA BRANCH) BRBBUAUXSLV
39 BROKBUSINESSBANK SUMY (SUMY BRANCH) BRBBUAUXSUM
40 BROKBUSINESSBANK UZHHOROD (UZHHOROD BRANCH) BRBBUAUXUZH
41 BROKBUSINESSBANK VINNYTSIA (VINNITSIA BRANCH) BRBBUAUXVIN
42 BROKBUSINESSBANK ZAPORIZHZHYA (ZAPORIJYA BRANCH) BRBBUAUXZAP
43 CAPITAL PJSC JSC CB DONETSK CAPOUA2XXXX
44 CB ‘FINANCIAL INITIATIVE’ LLC KIEV CBFNUAUKXXX
45 CENTER COMMERCIAL BANK KIEV CENTUAUKXXX
46 CHERNOMORSKIY BANK OF DEVELOPMENT AND RECONSTRUCTION SIMFEROPOL CHRRUA22XXX
47 CLASSICBANK DNIPROPETROVSK CLBKUA2NXXX
48 CONVERSBANK, PJSC KIEV PATKUAUKXXX
49 CREDIT AGRICOLE BANK PJSC DNIPROPETROVSK (DNEPROPETROVSK BRANCH ) INEJUAUK201
50 CREDIT AGRICOLE BANK PJSC DONETSK (DONETSK BRANCH ) INEJUAUK501
51 CREDIT AGRICOLE BANK PJSC KHARKIV (KHARKOV BRANCH ) INEJUAUK401
52 CREDIT AGRICOLE BANK PJSC KIEV INEJUAUKXXX 53 CREDIT AGRICOLE BANK PJSC LVIV (LVOV BRANCH ) INEJUAUK101
54 CREDIT AGRICOLE BANK PJSC ODESA (ODESSA BRANCH) INEJUAUK711
55 CREDIT AGRICOLE BANK PJSC POLTAVA (POLTAVA BRANCH ) INEJUAUK301
56 CREDIT AGRICOLE BANK PJSC VINNYTSIA (VINNITSA BRANCH ) INEJUAUK601
57 CREDIT AGRICOLE CIB KIEV CRLYUAUXXXX
58 CREDIT DNEPR BANK, UKRAINE (HEAD OFFICE) DNIPROPETROVSK CRDEUA2NXXX
59 CREDIT EUROPE BANK KIEV FBHLUAUKXXX
60 DANIEL BANK KIEV DACLUAUKXXX
61 DELTABANK KIEV DELKUAUKXXX
62 DEMARK BANK JS CHERNIHIV DEMKUA22XXX
63 DIAMANT BANK JOINT STOCK BANK KIEV DMBAUAUKXXX
64 DV BANK PJSC KIEV DVBKUAUKXXX
65 ENERGOBANK KIEV ENERUAUXXXX
66 ERDE BANK VAT KIEV ERDEUAUKXXX
67 EUROBANK PJSC CB KIEV EUBNUAUKXXX
68 EUROGASBANK KIEV EURGUAUKXXX
69 EUROPEAN BANK OF RATIONAL FINANCING CJSC KIEV DONCUA2XXXX
70 FINANCIAL UNION BANK DNIPROPETROVSK FSBUUA2NXXX
71 FINBANK ODESA FNBKUA22XXX
72 FINEXBANK KIEV FINXUAUKXXX
73 FIRST INVESTMENT BANK KIEV FIBXUAUKXXX
74 FIRST UKRAINIAN INTERNATIONAL BANK DNIPROPETROVSK (COMMERCIAL BRANCH) FUIBUA2XDNI
75 FIRST UKRAINIAN INTERNATIONAL BANK DONETSK (COMMERCIAL BRANCH) FUIBUA2XDON
76 FIRST UKRAINIAN INTERNATIONAL BANK DONETSK (HEAD OFFICE) FUIBUA2XXXX
77 FIRST UKRAINIAN INTERNATIONAL BANK GORLOVKA CITY (COMMERCIAL BRANCH) FUIBUA2XGRV
78 FIRST UKRAINIAN INTERNATIONAL BANK KHARKIV (COMMERCIAL BRANCH) FUIBUA2XKHA
79 FIRST UKRAINIAN INTERNATIONAL BANK KIEV (MAIN COMMERCIAL BRANCH) FUIBUA2XKIE
80 FIRST UKRAINIAN INTERNATIONAL BANK LUHANSK (COMMERCIAL BRANCH) FUIBUA2XLUG
81 FIRST UKRAINIAN INTERNATIONAL BANK LVIV (COMMERCIAL BRANCH) FUIBUA2XLVO
82 FIRST UKRAINIAN INTERNATIONAL BANK MARIUPOL (COMMERCIAL BRANCH) FUIBUA2XMPL
83 FIRST UKRAINIAN INTERNATIONAL BANK MYKOLAIV (COMMERCIAL BRANCH) FUIBUA2XNIC
84 FIRST UKRAINIAN INTERNATIONAL BANK ODESA (COMMERCIAL BRANCH) FUIBUA2XODE
85 FIRST UKRAINIAN INTERNATIONAL BANK SEVASTOPOL (SEVASTOPOL BRANCH) FUIBUA2XSEL
86 FIRST UKRAINIAN INTERNATIONAL BANK SOLEDAR (COMMERCIAL BRANCH) FUIBUA2XSOL
87 FIRST UKRAINIAN INTERNATIONAL BANK ZAPOROZHYE (ZAPOROZHYE BRANCH) FUIBUA2XZAP
88 FORTUNA BANK LTD KIEV FTNAUAUKXXX
89 GLOBUS BANK KIEV GLIBUA22XXX
90 GRANT BANK KHARKIV (1ST SUBSIDIARY) GRBKUA2X011
91 GRANT BANK KHARKIV (2ND SUBSIDIARY) GRBKUA2X012
92 GRANT BANK KHARKIV GRBKUA2XXXX
93 GRANT BANK KIEV GRBKUA2XKIE
94 GRANT BANK YEVPATORIA GRBKUA2XEVP
95 IMEXBANK JSCB DNIPROPETROVSK (BRANCH IN DNIPROPETROVSK) IMEXUA2XDNP
96 IMEXBANK JSCB KIEV (BRANCH IN KIEV) IMEXUA2XKIE
97 IMEXBANK JSCB MYKOLAIV (BRANCH IN MYKOLAIV) IMEXUA2XMYK
list of banks in Nigeria
Access Bank Nigeria Limited
Address: Head Office: 1665, Oyin Jolayemi Street, VictoriaIsland, Lagos
Phone: +234 1 26210404-41, 2626273-76, 2641571-72, 3201889; Fax:+234 1 2621037
Website: http://www.accessbankplc.com
Afribank Nigeria Plc
Address: Head Office: Afribank Plaza, (14th Floor) 51/55, Broad Street, Lagos
Phone: +234 1 2641566-9 Ext. 2267, 2252; Fax: +234 12669763
Website: http://www.afribank.net
Bank PHB (PlatinumHabib Bank Ltd)
Address: Head Office: Plot 707, Adeola Hopewell Street, Victoria Island, Lagos
Phone: +234 1 4617341-50
Website: http://www.bankphb.com
Diamond Bank Plc
Address: Head Office: Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos
Phone: +234 1 2701500, 2620740; Fax: +234 1 2619728
Website: http://www.diamondbank.com
Ecobank Nigeria Plc
Address: Head Office: 2, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 1 2626638-88,2626710-17; Fax: +234 1 2616568, 2620920
Website: http://www.ecobank.com
Equitorial Trust Bank Limited
Address: Head Office: Plot 1092, Adeola Odeku Street, Victoria Island, Lagos
Phone: +234 1 3201595-9, 3201600-9,2623576-80; Fax: +234 1 2619124, 2611052
Website: http://www.equitorialtrustbank.com
Fidelity Bank Plc
Address: Head Office: 2, Kofo Abayomi Street, Victoria Island, Lagos
Phone: +234 1 2610408-12; Fax: +234 1 2610414
Website: http://www.fidelitybankplc.com
FinBank Plc (Fomerly First Inland Bank Plc)
Address: Head Office: Plot 532, IBB way, Wuse 4, Abuja
Phone: +234 9 6700136-7; Fax: +234 9 5239640
Website: http://www.finbankplc.com
First Bank Nigeria Plc
Address: Head Office: Samuel Asabia House, 35, Marina, Lagos
Phone: +234 1 2665900-19; Fax: +234 1 2665934, 2643166
Website: http://www.firstbanknigeria.com
First City Monumental Bank Plc
Address: Head Office: Primrose Tower, 17A, TinubuStreet, Lagos
Phone: +234 1 2665944-53; Fax: +234 1 2665126, 2668833
Website: http://www.fcmb-ltd.com
Guaranty Trust Bank Plc
Address: Head Office: Plot 1669, Oyin Jolayemi Street Victoria Island, Lagos
Phone: +234 1 2622650-69,3201100; Fax: +234 1 2622698-9.
Website: http://www.gtbplc.com
Intercontinental Bank Plc
Address: Head Office: Intercontinental Plaza, Danmole Street, Victoria Island, Lagos
Phone: +234 1 2622940-59;Fax: +234 1 2622981
Website: http://www.intercontinentalbankplc.com
Nigeria International Bank Limited (Citigroup)
Address: Head Office: 1, Idowu Taylor Street, Victoria Island, Lagos
Phone: +234 1 4613060-74 Ext. 1219
Website: http://www.citigroup.com/citigroup/global/nga.htm
Oceanic Bank International Nigeria Ltd
Address: Head Office: Waterfront Plaza, Plot 270, Ozumba Mbadiwe Avenue, Victoria Island, Lagos
Phone: +234 1 2705010-9; Fax: +234 1 2705066
Website: http://www.oceanicbanknigeria.com
Skye Bank Nigeria Ltd.
Address: Head Office: 3, Akin Adesola Street, Victoria Island, Lagos
Phone: +234 1 2627760-9; Fax: +234 1 2627598
Website: http://www.skyebankng.com
Spring Bank Nigeria Ltd.
Address: Head Office: Plot 143, Ahmadu Bello Way, Victoria Island, Lagos
Phone: +234 1 4619570-3, 2623780-7; Fax: +234 1 2615138, 4619574
Website: http://www.springbankplc.com
Stanbic IBTC Bank Ltd.
Address: Head Office: I.B.T.C. Place, Walter Carrington Crescent, Victoria Island, Lagos
Phone: +234 1 2626520-40; Fax: +234 1 2626541/2
Website: http://www.ibtc.com
Standard Chartered Bank Nigeria Ltd.
Address: Head Office: 105b, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 1 3262000, 2626801-5; Fax: +234 1 2626814, 3201659
Website: http://www.standardchartered.com/ng
Sterling Bank Nigeria Ltd.
Address: Head Office: 20 Marina, Lagos Island, Lagos
Phone: +234 1 2690380-8; Fax: +234 1 2693256
Website: http://www.sterlingbankng.com
Union Bank Of Nigeria Plc.
Address: Head Office: Stallion Plaza, 36 Marina, Lagos
Phone: +234 1 2668105, 2668043, 2646011, 2667216; Fax: +234 1 2669873, 2644306
Website: http://www.unionbankng.com
Unity Bank Nigeria Ltd.
Address: Head Office: Plot 497, Central Business District,Abogo Largema Street, Abuja
Phone: +234 9 6701082-9; Fax: +234 1 5238759
Website: http://www.unitybankng.com
United Bank For Africa Plc. (UBA)
Address: Head Office: 57, Marina, Lagos
Phone: +234 1 2644651-700, 4701416, 2642284; Fax: +234 1 2642287
Website: http://www.ubagroup.com
Wema Bank Plc
Address: Head Office: Wema Towers 54, Marina Lagos Island, Lagos
Phone: +234 1 2669236, 2669713; Fax: +234 1 2668303
Website: http://www.wemabank.com
Zenith Bank Plc
Address: Head Office: Plot 84, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 1 4618301, 4618321, 4618311, 2703141;Fax: +234 1 2618212
Website: http://www.zenithbank.com
Address: Head Office: 1665, Oyin Jolayemi Street, VictoriaIsland, Lagos
Phone: +234 1 26210404-41, 2626273-76, 2641571-72, 3201889; Fax:+234 1 2621037
Website: http://www.accessbankplc.com
Afribank Nigeria Plc
Address: Head Office: Afribank Plaza, (14th Floor) 51/55, Broad Street, Lagos
Phone: +234 1 2641566-9 Ext. 2267, 2252; Fax: +234 12669763
Website: http://www.afribank.net
Bank PHB (PlatinumHabib Bank Ltd)
Address: Head Office: Plot 707, Adeola Hopewell Street, Victoria Island, Lagos
Phone: +234 1 4617341-50
Website: http://www.bankphb.com
Diamond Bank Plc
Address: Head Office: Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos
Phone: +234 1 2701500, 2620740; Fax: +234 1 2619728
Website: http://www.diamondbank.com
Ecobank Nigeria Plc
Address: Head Office: 2, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 1 2626638-88,2626710-17; Fax: +234 1 2616568, 2620920
Website: http://www.ecobank.com
Equitorial Trust Bank Limited
Address: Head Office: Plot 1092, Adeola Odeku Street, Victoria Island, Lagos
Phone: +234 1 3201595-9, 3201600-9,2623576-80; Fax: +234 1 2619124, 2611052
Website: http://www.equitorialtrustbank.com
Fidelity Bank Plc
Address: Head Office: 2, Kofo Abayomi Street, Victoria Island, Lagos
Phone: +234 1 2610408-12; Fax: +234 1 2610414
Website: http://www.fidelitybankplc.com
FinBank Plc (Fomerly First Inland Bank Plc)
Address: Head Office: Plot 532, IBB way, Wuse 4, Abuja
Phone: +234 9 6700136-7; Fax: +234 9 5239640
Website: http://www.finbankplc.com
First Bank Nigeria Plc
Address: Head Office: Samuel Asabia House, 35, Marina, Lagos
Phone: +234 1 2665900-19; Fax: +234 1 2665934, 2643166
Website: http://www.firstbanknigeria.com
First City Monumental Bank Plc
Address: Head Office: Primrose Tower, 17A, TinubuStreet, Lagos
Phone: +234 1 2665944-53; Fax: +234 1 2665126, 2668833
Website: http://www.fcmb-ltd.com
Guaranty Trust Bank Plc
Address: Head Office: Plot 1669, Oyin Jolayemi Street Victoria Island, Lagos
Phone: +234 1 2622650-69,3201100; Fax: +234 1 2622698-9.
Website: http://www.gtbplc.com
Intercontinental Bank Plc
Address: Head Office: Intercontinental Plaza, Danmole Street, Victoria Island, Lagos
Phone: +234 1 2622940-59;Fax: +234 1 2622981
Website: http://www.intercontinentalbankplc.com
Nigeria International Bank Limited (Citigroup)
Address: Head Office: 1, Idowu Taylor Street, Victoria Island, Lagos
Phone: +234 1 4613060-74 Ext. 1219
Website: http://www.citigroup.com/citigroup/global/nga.htm
Oceanic Bank International Nigeria Ltd
Address: Head Office: Waterfront Plaza, Plot 270, Ozumba Mbadiwe Avenue, Victoria Island, Lagos
Phone: +234 1 2705010-9; Fax: +234 1 2705066
Website: http://www.oceanicbanknigeria.com
Skye Bank Nigeria Ltd.
Address: Head Office: 3, Akin Adesola Street, Victoria Island, Lagos
Phone: +234 1 2627760-9; Fax: +234 1 2627598
Website: http://www.skyebankng.com
Spring Bank Nigeria Ltd.
Address: Head Office: Plot 143, Ahmadu Bello Way, Victoria Island, Lagos
Phone: +234 1 4619570-3, 2623780-7; Fax: +234 1 2615138, 4619574
Website: http://www.springbankplc.com
Stanbic IBTC Bank Ltd.
Address: Head Office: I.B.T.C. Place, Walter Carrington Crescent, Victoria Island, Lagos
Phone: +234 1 2626520-40; Fax: +234 1 2626541/2
Website: http://www.ibtc.com
Standard Chartered Bank Nigeria Ltd.
Address: Head Office: 105b, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 1 3262000, 2626801-5; Fax: +234 1 2626814, 3201659
Website: http://www.standardchartered.com/ng
Sterling Bank Nigeria Ltd.
Address: Head Office: 20 Marina, Lagos Island, Lagos
Phone: +234 1 2690380-8; Fax: +234 1 2693256
Website: http://www.sterlingbankng.com
Union Bank Of Nigeria Plc.
Address: Head Office: Stallion Plaza, 36 Marina, Lagos
Phone: +234 1 2668105, 2668043, 2646011, 2667216; Fax: +234 1 2669873, 2644306
Website: http://www.unionbankng.com
Unity Bank Nigeria Ltd.
Address: Head Office: Plot 497, Central Business District,Abogo Largema Street, Abuja
Phone: +234 9 6701082-9; Fax: +234 1 5238759
Website: http://www.unitybankng.com
United Bank For Africa Plc. (UBA)
Address: Head Office: 57, Marina, Lagos
Phone: +234 1 2644651-700, 4701416, 2642284; Fax: +234 1 2642287
Website: http://www.ubagroup.com
Wema Bank Plc
Address: Head Office: Wema Towers 54, Marina Lagos Island, Lagos
Phone: +234 1 2669236, 2669713; Fax: +234 1 2668303
Website: http://www.wemabank.com
Zenith Bank Plc
Address: Head Office: Plot 84, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 1 4618301, 4618321, 4618311, 2703141;Fax: +234 1 2618212
Website: http://www.zenithbank.com
France downgraded from AAA to Aa1 by Moody`s
Moody's Investors Service on Mondaydowngraded France, stripping it of its prized AAA credit rating due to concernsover its prospects for economic growth and its exposure to Europe's financial crisis.
Moody's lowered France's rating one notch to Aa1. It kept the rating's outlook at negative, meaning it could face future downgrades.
Greece narrowly avoids bankruptcy
Return of Europe recession isbad news for U.S.
Greece fine tunes its austeritymeasures as it awaits bailout
The ratings agency said that it is becoming increasingly difficult to predict how resilient France will be to future euro-area shocks.
But the agency noted that the country's rating remains high compared with many other European countries. It cited for this France's diversified economy and "a strong commitment to structural reforms and fiscal consolidation."
The downgrade will likely heighten fears that Europe's debt crisis is spreading from the so-called peripheral nations like Greece, Portugal and Ireland to the core of the euro region. Standard & Poor's, a rival rating agency, lowered its rating on France's debt one notch from AAA to AA+ in January, citing the deepening political, financialand monetary problems within the eurozone.
Pierre Moscovici, the French finance minister, blamed the downgrade on the policies of previous governments thathad failed to restore the competitiveness of the nation's economy.
"French debt still remains among the most liquid and safest of the eurozone," said Moscovici, a member of the ruling Socialist government."The French economy is large and diversified and the government has shown proof of its serious plan to implement structural reformsand restore public finances."
Moody's lowered France's rating one notch to Aa1. It kept the rating's outlook at negative, meaning it could face future downgrades.
Greece narrowly avoids bankruptcy
Return of Europe recession isbad news for U.S.
Greece fine tunes its austeritymeasures as it awaits bailout
The ratings agency said that it is becoming increasingly difficult to predict how resilient France will be to future euro-area shocks.
But the agency noted that the country's rating remains high compared with many other European countries. It cited for this France's diversified economy and "a strong commitment to structural reforms and fiscal consolidation."
The downgrade will likely heighten fears that Europe's debt crisis is spreading from the so-called peripheral nations like Greece, Portugal and Ireland to the core of the euro region. Standard & Poor's, a rival rating agency, lowered its rating on France's debt one notch from AAA to AA+ in January, citing the deepening political, financialand monetary problems within the eurozone.
Pierre Moscovici, the French finance minister, blamed the downgrade on the policies of previous governments thathad failed to restore the competitiveness of the nation's economy.
"French debt still remains among the most liquid and safest of the eurozone," said Moscovici, a member of the ruling Socialist government."The French economy is large and diversified and the government has shown proof of its serious plan to implement structural reformsand restore public finances."
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