U.S.$16 Million for Rural Income Project Nov 20, 2009
4 million rural clients of whom 50% are women will be reached, while maintaining gender parity and disbursing some 2934 loans through financial intermediaries. The component on institutional and business development services will strengthen the capacity of 1000 intermediaries and provide business development skills to some 3,000 staff together with a performance evaluation mechanism. (allAfrica.com)
Independent SC framework sought Nov 16, 2009
The ombudsman, an independent and impartial official who investigates complaints from the public, would have greater creditability as he would have no ties with financial intermediaries, he said ... Great Vision Advisory Group head of tax and financial consulting Datuk Chua Tia Guan said fair treatment should also be accorded to financial intermediaries in dealing with disputes. (The Star Online, Malaysia -- Business)
CalPERS official wants agents regulated Nov 12, 2009
Placement agents are financial intermediaries who can be major players linking pension funds with investors. Some placement agents have had their business practices questioned after spending lavishly on presents and campaign contributions in what seems to be a way get access and business. (Sacramento Business Journal, CA)
Move over New York, London is the new No. 1 Nov 3, 2009
Britain's institutional environment also could weigh on its ranking next year: The government has been criticized in recent months for excessive intervention in the financial sector, and there is rising concern over increased regulation and higher tax rates, which could encourage London-based hedge funds and other financial intermediaries to move elsewhere. To be sure, the total scores for most developed nations fell sharply, due to the effects of the credit crisisand those that suffered the... (MSNBC -- Business)
Global Finance: Britain Is No. 1 Oct 31, 2009
Britain's institutional environment also could weigh on its ranking next year: The government has been criticized in recent months for excessive intervention in the financial sector, and there is rising concern over increased regulation and higher tax rates, which could encourage London-based hedge funds and other financial intermediaries to move elsewhere. To be sure, the total scores for most developed nations fell sharply, due to the effects of the credit crisis and those that suffered the... (BusinessWeek)
Finance and Economic Growth, Remarks by First Deputy Managing Director John Lipsky Oct 20, 2009
Moreover, there is no clear guide to the optimal size of banks and nonbank financial intermediaries. Of course, this issue deserves further serious study indeed the Fund has been asked to look into this issue together with the FSB, and we have made a start on developing a framework for analysis. (IMF News)
Chicken Feet and Chump Change Oct 6, 2009
Now entities controlled by the Chinese government are buying stakes in American financial intermediaries. the sovereign wealth fund that is sitting on nearly $300 billion in assets, owns 10 percent of the Blackstone Group, the large private equity firm. (Slate)
Irda rejects FINWEB proposal Oct 5, 2009
Going by the consultation paper on minimum common standards for financial intermediaries and financial education, FINWEB will also have a self regulatory arm to bring all financial advisors under one common standard ... An earlier panel set up by the HLCCFM and chaired by the former Irda chief CS Rao also favoured continuing the existing arrangements for financial intermediaries. (India Times)
Avoiding local fund managers Oct 4, 2009
Prior to 1992 financial intermediaries were not required to declare suspicious money to the authorities. Even though the large institutions are well aware that much of this cash is in fact grey money, they turn a blind eye. (iAfrica.com)
FII inflow in stocks cross Rs 60K cr mark Oct 2, 2009
"FIIs have stashed a lot of money and they don't want to miss the opportunity in a fast growing market like India," Delhi-based Unicon Financial Intermediaries Chief Executive Gajendra Nagpal said. The country had witnessed the highest FII inflow in stock markets in the year 2007. (India Times)
Transcript of the Global Financial Stability Report Press Conference with Jose Viñals, Financial Counsellor and Director of the Monetary and Capital Markets Department Oct 2, 2009
ALS: In the report we look at the capacity of the financial system, both banks and nonbanks, to provide credit over the next couple of years, on the basis of the amount of capital which exists in the banking system, and of the deleveraging pressures of banks and the behavior of markets, taking into account the capacity that financial intermediaries other than banks can provide credit to the economy. Then we look at the demand side for credit on the part of households and corporates and we relate... (IMF News)
Strong retail sales means rate rise looms Sep 30, 2009
Total credit provided to the private sector by financial intermediaries. 12:35pm. (Sydney Morning Herald -- Business)
Demand for credit weakest in 16 years Sep 30, 2009
Total credit provided to the private sector by financial intermediaries rose by a slender 0. 1 per cent in August, following an 0. (Sydney Morning Herald -- Business)
Mortgage demand dips on rising rates Sep 17, 2009
"The scars from this crisis will likely keep households and financial intermediaries cautious for some time.". Also in msnbc. (MSNBC -- Business)
Fidelity replaces another executive Sep 3, 2009
In his new role, McGraw will oversee the unit that deals with banks, broker-dealers, registered investment advisers, and other financial intermediaries. The unit includes the National Financial Securities Clearance unit. (Boston Globe)
Govt to implement interventions to address problems of the private sector Sep 3, 2009
He said government was aware of the challenges facing SMEs in accessing credit at low rates and added that financial intermediaries such as the Export Development Investment Fund and the yet to be established Agricultural Development Fund were in place to deal with the obstacles. The Vice President tasked the Ministries of Finance and Trade and Industry to find innovative means of working with financial institutions to address these challenges. (Ghana Web, Ghana)
Weston's Holt Renfrew May Make Joint Bid for Barney's New York, People Say Sep 2, 2009
Barneys is under pressure to show it can pay financial intermediaries for holiday merchandise from apparel makers, two of the people said. Representatives of Barneys, Holt Renfrew and Perry Capital either declined to comment or werent available to comment. (Bloomberg -- Canada)
Inventory drop to dent GDP Aug 31, 2009
5 per cent quarterly GDP forecast," said Ms Beacher. The ABS inventory and corporate profit figures today have forced economists to begin aiming lower in their expectations for second quarter economic growth. ''Today's data means there is downside risk to the second quarter GDP result due Wednesday,'' said St George chief economist Besa Deda. ''Our GDP forecast ahead of this data was 0.5 per cent for the quarter, which was under consensus expectations for a rise of 0.7 per cent.'' ''We now think... (Sydney Morning Herald -- Business)
Shares: the next 90 days Aug 28, 2009
The Sanlam Investment Management (SIM) Investor Confidence Index a monthly survey conducted by the Institute of Behavioral Finance among institutional investors and financial intermediaries indicates a decline in perceived market value. The August results of the Sanlam Investment Management (SIM) Investor Confidence Index reflected a material decline in the valuation confidence index, dropping from 78 in July to 57 in August its lowest reading since inception in mid-2007. (iAfrica.com)
RBI, SEBI likely in turf war Jul 6, 2009
However, financial intermediaries and institutions have long been demanding a single regulator. More recently, sections within the ruling party have demanded that FMC, the commodity market regulator, should be brought under Sebi. (India Times)
How to prevent furtue financial crisis Jul 6, 2009
The scope of existing laws and regulations should be enlarged to encompass the operations of all types of financial intermediaries ... To bypass this large capital requirement, financial intermediaries use innovative products, such as structured investment vehicles to perform their daily operations ... Some researchers have suggested that both enterprises and financial intermediaries subscribe to some form of capital insurance. (The Star Online, Malaysia -- Business)
Harris Associates L.P. Announces Portfolio Manager Change for the Oakmark International Small Cap Fund Jun 25, 2009
com or through numerous financial intermediaries' mutual fund platforms. ABOUT THE PORTFOLIO MANAGER. (PR Newswire)
Obama unveils financial system overhaul Jun 19, 2009
Years without a serious economic recession bred complacency among financial intermediaries and investors. Rather than scrap the entire system, Obama says the reforms pinpoint the structural weaknesses that allowed for this crisis and to make sure that these problems are dealt to avert future crises. (Charlotte Business Journal, NC)
Stock brokers turn to realty as well Jun 16, 2009
A few entities (also having broking operations among other businesses relating to finance) who have begun operating in this segment are Unicon Financial Intermediaries (through Unicon Real Estate), Artha Money, SMC Capital, ICICI Housing Finance (cross-selling through ICICI Direct) and HDFC (cross-selling through HDFC Securities) ... Diversifying into in property markets is an automatic extension to our core businesses stock broking and wealth management, said Vikas Mallan,... (India Times)
AfDB Approves CFAF 750 Million Equity Investment in Banque Congolaise de l'Habitat Jun 4, 2009
This Investment is in keeping with the Bank's Private Sector Operations strategy as regards: (i) strengthening and deepening of financial systems, and (ii) Bank support to private enterprises (particularly, SMEs, including the construction sector) through financial intermediaries. The project represents an innovative instrument for deepening the Congolese financial system by targeting a specific market niche that is currently underserved. (allAfrica.com)
Twenty-two million Euro credit to support SMEs May 27, 2009
The total level of support for each SME would vary between 25,000 and 550,000 Euros in local currency to be channelled through local financial intermediaries. Beneficiary SMEs are mandated to purchase 70 per cent of their supplies from Italy while the rest 30 per cent could be obtained from local sources. (Ghana Web, Ghana)
Near-Zero Interest Rates Here to Stay May 25, 2009
"The economy is only now beginning to show signs that it might be stabilizing, and the upturn, when it begins, is likely to be gradual amid the balance sheet repair of financial intermediaries and households," he told a conference at Princeton University. Also discussing the conference, reports that Kohn said that the U.S. economy may get a $1 trillion boost in the future from the central bank's purchases of government and mortgage debt, in addition to $175 billion in extra tax revenue. (Slate)
Rates likely to stay low for some time: Fed's Kohn May 25, 2009
"The economy is only now beginning to show signs that it might be stabilizing, and the upturn, when it begins, is likely to be gradual amid the balance sheet repair of financial intermediaries and households," Kohn told a conference at Princeton University. "As a consequence, it probably will be some time before the FOMC will need to begin to raise its target for the federal funds rate," he said, referring to the Fed's policy-setting Federal Open Market Committee. (Yahoo News -- Press Releases)
Kohn Says Federal Reserve's Asset Purchases May Add $1 Trillion to Economy May 25, 2009
Kohn reiterated his view that the U.S. economy is only now beginning to show signs that it might be stabilizing, and the upturn, when it begins, is likely to be gradual amid the balance sheet repair of financial intermediaries and households. . (Bloomberg -- US)
Your strategy to reap dividends May 24, 2009
"One must trade with discipline and define risk-reward ratio to make money in this market," says Ashish Kukreja, head of private client group, Unicon Financial Intermediaries. For those investors who bought stocks at 20,000 levels, analysts say they can think about re-shuffling their portfolios and book 50% loss at these levels. (India Times)
JP Morgan reiterates overweight on HDFC May 11, 2009
Momentum appears to be swinging back in favor of retail asset-led and wholesale liability-led financial intermediaries, the report concluded. Monday on NSE, the stock of HDFC was trading 2 per cent lower at Rs 1701. (India Times)
Diamond Hill Investment Group, Inc. Reports Results for First Quarter 2009 May 9, 2009
Diamond Hill provides investment management services to institutions and financial intermediaries seeking to preserve and build capital. The firm currently manages mutual funds, separate accounts and private investment funds. (PR Newswire)
The Future of the American Dream May 9, 2009
We need many more financial intermediaries to allocate capital and credit and demonstrate more respect for society's needs. That includes regional banks, which are naturally closer to the customers. (CBS News)
B2B Trust signs distribution agreements with Guardian Group of Funds Ltd. and BMO Investments Inc. for investment and RRSP loans Apr 30, 2009
"B2B Trust is dedicated to working with financial intermediaries and meeting their unique needs by providing purpose-built banking products and services. Guardian Group of Funds Ltd.'s commitment to providing quality products and exemplary service mirrors B2B Trust's approach - that's what makes this distribution alliance such a great fit." These new agreements will significantly broaden the opportunities for distribution of investment and RRSP loan products to financial advisors across the... (Canada Newswire)
MassMutual's Select Fundamental Value Fund Earns 2009 Lipper Fund Award Apr 16, 2009
"Recognition by the Lipper Fund Awards reflects MassMutual's commitment to financial intermediaries, plan sponsors and retirement plan participants by providing quality investment options designed to help them achieve individual and plan-level goals," says Eric Wietsma, corporate vice president and head of investment services for MassMutual's Retirement Services Division. For more information about MassMutual Retirement Services, please contact your MassMutual representative or call... (PR Newswire)
T T Mohan: Will banking be boring? Apr 16, 2009
The first is that capital requirements for banks and other financial intermediaries will go up. This will undermine one of the key sources of abnormal profitability in banking extraordinary leverage. (India Times)
In Guatemala, a Village that Cocaine Built Apr 16, 2009
That year Guatemala finally criminalized money laundering, setting prison sentences of up to 20 years and requiring banks and other financial intermediaries to report suspicious activity and implement "know your client" policies. The law created a special unit within the banking superintendence, which has the authority to obtain information related to any business transaction potentially involving laundering. (Time.com)
Genworth Will Not Participate in the U.S. Capital Purchase Program Apr 10, 2009
Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. (PR Newswire)
iShares(TM) ETFs Experience Strong Demand Despite Market Volatility Apr 2, 2009
iShares ETFs are attractive to many individual and institutional investors and financial intermediaries because of their relatively low cost and trading flexibility. Investors can purchase and sell units through any brokerage account. (PR Newswire)
THE FED'S FUTILE MOVE Mar 19, 2009
It gives lines of credit to banks and other financial intermediaries to generate some money and also buys up Treasury bills in circulation to pump out more cash. But the money supply has already expanded by 271 percent in the past five months. (New York Post -- Opinions)
Janus to merge fund trusts Mar 17, 2009
In 2000, the Janus Adviser Series fund trust was introduced with multi-share class pricing to meet the evolving needs of investors who were choosing to use financial intermediaries. In response to changing market conditions and investor migration toward advice-driven channels, Janus believes that it is in the best interest of its fund shareholders to create one consolidated mutual fund platform with multi-share class pricing designed to meet the needs of the various investors doing business with... (Denver Business Journal, CO)
Curbing excessive speculation Feb 26, 2009
If there are limitations on what ordinary people can get access to or able to do, there should be curbs on financial intermediaries too. However, urgency to act back then was not overwhelming as the worlds economy was going through a purple patch and was able to withstand such high prices. (The Star Online, Malaysia -- Business)
Press Release: IMF Statement at the Conclusion of the 2009 Article IV Consultation Discussions with St. Vincent and the Grenadines Feb 24, 2009
The mission welcomed recent steps toward consolidating the regulation and supervision of domestic nonbank financial intermediaries in the Ministry of Finance. In view of developments in the global financial system, further strengthening regulation and supervision of the domestic financial system, including both domestic banks and non-banks and the offshore financial sector, is a top priority. (IMF News)
Soured bond deals bring calls from U.S. local governments for regulation Feb 18, 2009
And financial intermediaries often pitch municipal bond deals as a team, with many features in a proposed package. The investigators in New Mexico want to know if CDR's contributions helped sell the package, landing lucrative deals for participants who were barred from making contributions. (International Herald Tribune -- Business)
Financial Polluters Need to Pay: Thomas Cooley and Ingo Walter Feb 12, 2009
Managers of banks and other financial intermediaries who think they are too big to fail go for broke, with excessive leverage underwritten by debt holders who figure they will be bailed out by taxpayers if things go wrong ... Meanwhile, policy makers desperate to stop the bleeding push healthier banks to acquire the mortally wounded, leading to still greater consolidation among financial intermediaries ... Fourth, structural complexity and interconnectedness of financial intermediaries... (Bloomberg -- Columnists)
Center for Financial Studies Awards the Deutsche Bank Prize in Financial Economics 2009 to Robert J. Shiller Feb 11, 2009
It conducts independent academic research on financial markets, financial intermediaries and monetary economics, and is a thinktank on issues relating to its expertise. Its spectrum of activities currently spans eight research programs, each managed by a program director. (PR Newswire)
