Bankrupt Banking

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Wednesday, 21 August 2019

Latest News for: Bankrupt banking

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Merger policy: Power pressure or need of time?

The Himalayan 21 Aug 2019

Nepal Rastra Bank (NRB), the central bank, recently issued a new monetary policy for the fiscal year 2076/77 B.S. Along with addressing a number of other issues, the new monetary policy most notably puts pressures on the commercial banks to go for a merger ... If a big bank went bankrupt, the whole country’s economy could collapse....

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Viral Acharya's exit from RBI is India's loss

The Telegraph India 20 Aug 2019

The present government in Delhi is in the process of subjugating and annexing the Reserve Bank of India ... Banks with bad debts do what he called zombie lending ... In the European Union, the European Central Bank started the Outright Monetary Transactions programme; it involved liberal lending to bankrupt European governments....

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Ghana revokes licenses of 23 insolvent financial institutions

Xinhua 17 Aug 2019

... bank reached to Xinhua on Saturday ... Even after a reasonable period within which the Bank of Ghana has engaged with them in the hope that they would be recapitalized by their shareholders to return them to solvency, the statement said, the institutions had remained bankrupt....

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Flat buyers get status of financial creditor. How it impacts you

Live Mint 17 Aug 2019

Here is what it means for you. ... “Homebuyers are now legally recognised as being at par with banks and other institutional creditors for recovering their dues from real estate firms that have gone bankrupt ... Earlier, their recovery status was vague and only banks and other financial institutions which had lent money to the developer had first claim ... ....

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Investors are in the grip of panic – don’t join them

Moneyweek 16 Aug 2019

Or there’s the eurozone banks. I’ve generally been sanguine about the eurozone banks because we know what the playbook is for a bankrupt bank – the central bank steps in to save it ... And now that the euro maestro, Mario Draghi, is on his way out of the European Central Bank, investors could be forgiven for feeling jittery....

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42% firms taken to IBC tribunals belong to manufacturing space, reveals bankruptcy data

Moneycontrol 13 Aug 2019

Banks and vendors (operational creditors) have dragged 90 percent of the 2,162 bankrupt companies to tribunals under IBC ... Banks and vendors (operational creditors) have dragged 90 percent of the 2,162 bankrupt companies to tribunals under the IBC, indicating that the code is benefitting creditors to recover dues....

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Bankruptcy data reflects pain points in a slowing economy

Live Mint 13 Aug 2019

This indicator will now prompt banks and other investors to make their investment decisions ... Banks and vendors (operational creditors) have dragged 90% of the 2,162 bankrupt companies to tribunals under the IBC, indicating that the code is benefitting creditors to recover dues ... The process is guided by a court appointed professional. ....

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Supreme Court upholds IBC rule that gives home buyers status of financial creditors

International Business Times 10 Aug 2019

The landmark ruling, which upholds an amendment in the Insolvency and Bankruptcy Code, means that home buyers will get preference when dues are recovered from bankrupt real estate companies. . Home buyers will enjoy the status of banks and institutional creditors and can take ......

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Law empowering home buyers upheld

The Hindu 09 Aug 2019

The Act had brought the home buyers on par with the creditor banks of the property builder ... Before the Amendment Act of 2018 came into existence, the assets of the bankrupt builder were divided among his employees, creditor banks and other operational creditors ... The CoC, by voting, makes important decisions on the future of the bankrupt builder....

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Supreme Court upholds homebuyers' rights in builder bankruptcies

Business Line 09 Aug 2019

The court ruled homebuyers rights will remain at par with lenders ... Nariman ... Rejection of builders petitions by the court also denies banks more independence in resolving stressed assets. Several companies, such as Jaypee Infratech, failed to reach a resolution as banks and homebuyers differed on the best acquirer for the bankrupt developer .......

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The Fed shouldn't compete with banks

Dispatch Argus 09 Aug 2019

Federal Reserve Board to operate as a commercial bank -- and compete with our private banking system? The Fed apparently wants to, and it's a policy shift that could greatly expand the mission of the Fed ... The Fed can't go bankrupt and by its enormous size and stature is the behemoth in the banking universe....

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Rami Efrati: Investing in cybersecurity can reverse brain drain

Kathimerini 09 Aug 2019

Describing how Israel managed to turn cyberattacks into business opportunities, Efrati urges the Greek authorities to invest in creating an ecosystem that will halt the phenomenon of talented young people feeling forced to leave the country ... A positive example ... Imagine that two of your banks went bankrupt because someone hacked into the system ... ....

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Bond insurer MBIA sues banks over defaulted Puerto Rico bonds

Yahoo Daily News 08 Aug 2019

The lawsuit filed in superior court in San Juan claimed the banks "inflicted a financial tragedy" on the now-bankrupt U.S ... "That debt bankrupted the commonwealth and its agencies while the banks enriched themselves through massive fees," the lawsuit stated ... Representatives of the other banks declined to comment on the lawsuit....