Major US banks re-structured to meet the growing censorship

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Major US banks re-structured to meet the growing censorship

 

 

 

 

 

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Version: Digitalالأحد، ١ مارس/ آذار ٢٠١٥ (١٦:٠١ - بتوقيت غرينتش)

Last update:الأحد، ١ مارس/ آذار ٢٠١٥ (١٦:٥١ - بتوقيت غرينتش) New York (United States) - AP

The major US banks restructure operations include reducing the number of employees and reduce the size of bonuses and give up some speculative activities, and in the face of the growing process of regulating the sector as of 2017.

Includes restructuring expenses mitigate and reduce bonuses granted to brokers, bankers and reduce administrative expenses and accelerate investments and stop the use of devices rather than employees in the group banking operations plans.

Bank "JPMorgan Chase", one of the largest US banks, his desire to save about five billion dollars in 2017, through the closing of about 300 branch and show him.

The bank announced that the banking industry is also deliberately to give up assets if they are high cost-effectiveness, and to try to reduce the huge deposits sleeping through the imposition of a fee, in order to comply with the requirements of regulatory bodies.

Also works as "Goldman Sachs" to reduce its contributions to the investment funds and investment firms head money. Workers "Sachs" salaries and already deteriorated last year to the lowest level since the entry of the bank to the stock exchange in 1999.

Works, "Morgan Stanley" to reduce its presence in the field of mediation in commodities, bonds, interest rates and currencies, put brokerage in the field of oil for sale. The Foundation prefers to focus on wealth management, which is the least risky activity.

He stressed senior officials from the fiscal policies of discipline and control measures to avoid a repeat of the financial crisis that occurred in 2008, and forced the world because of the re "capitalized" banks. He was at that time the name of "too big to fall" in reference to the major financial institutions that threaten the collapse of the entire financial system.

And impose "Basel 3" rules for banks to strengthen its own money in quantity and quality. This must be the money, equivalent to about 7 percent of its assets, which means that if the bank lent $ 100, should fall seven dollars of this amount in your account.

And wishes, "the US central bank" (Federal Reserve) and "Financial Stability Board" going so far as well, the Council wants to be required of major banks in the world base safely between 16 and 20 percent of its assets, which are balanced by the risk or the ability to absorb the total loss .

The Federal Reserve plans to demand from the eight major US banks to achieve a surplus in its own money between 1 and 4.5 percent, according to their size.

The US central prevents the payment of dividends rates and asset purchases in the event of loss, and cast this threat weighing on the "Bank of America" ​​and "Citigroup", which last year issued a call to them to return to regularity.

A spokesman for the "JP Morgan" we "want to keep Berbahana stable, and we continue to pay dividends and share buy our assets own." While "Bank of America," he said in his annual report for 2014. "We are reducing our investment and therefore Sntkhaly for assets," while touched "Citigroup" to "concerns" in.

And US banks find themselves banned from managing their own account activities in the markets. The idea is to prevent them from betting their money on private sites in the market with a high cost in the event of failure, as highlighted by the case of the speculator and former banker Jerome Kerviel in the bank "Societe Generale".

He condemned Kerviel, who turned to the analyst, "Kroll Bond writting Chris Whalen," b "obsession" which entices senior financial officials in relation to the money and said, "I do not think that all this arsenal of control and discipline will lead to a very great solution to fall."

He said Richard Bove of "Rafferty" institution that forcing regulators to major banks, leading to the recent granting of competitive interest to medium-sized enterprises. He pointed out that "the major banks have huge gains could scoops them to recruit qualified staff and the acquisition of appropriate technologies and to mobilize the necessary resources."

He acknowledged head of "control over the Financial Services Authority" in New York, Benjamin Awski himself in this competitive arena deviation which leaves free in front of the big banks in some of the activities at the expense of small banks. He pointed out in an intervention in the "Columbia University" in New York on 25 February, the testimony of the President of one of these small enterprises, which came tells about the difficulties of this "regulatory boom" monopoly important human resources at the expense of the traditional activity of the bank. "I will have to correct the situation."

 

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COMMENT ON THIS ARTICLE AT SITE

 

Reasonable measures in unreasonable system

Reduce costs and increase the provision is good in the world of banks, but more importantly, change itself banking relations of capitalism relationship investment-service to the cooperative relationship socialism = combination of China's central bank conditions of the German central bank in asset distribution between the forces of society and the planned investment or strategic against approach tirade free market chaos and investment.

 

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GMT 9:41 2015 Monday, March 2 : Latest Update

Control in the face of growing

Major US banks conducting restructuring

A. P. B.

 

 

 

A bank in New York

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    A bank in New York

 

 

 

In the face of the process of growing the organization as of 2017, the major US banks to restructure operations include decisions to reduce the number of employees and reduce the size of bonuses and abandon speculative activities.

New York : aim of the restructuring carried out by US banks to reduce costs and cut bonuses granted to brokers and bankers and reduce administrative expenses and accelerate investments and stop the use of devices to replace staff in a banking operations plans.

 

 And larger US banks by assets, JP Morgan Chase, showing his desire to provide nearly five billion dollars by 2017, over 300 closing a branch.

 

In 2014, deteriorated salaries at Goldman Sachs to a minimum since the entry of the famous business bank to the stock exchange in 1999.

 

To comply with the requirements of oversight bodies, the banking industry is also deliberately to abandon the assets if they are high cost-effective, and try to reduce the huge deposits sleeping through the imposition of a fee, also announced that JP Morgan has just.

 

Meanwhile, Goldman Sachs is working to reduce its contributions to the funds and capital investment companies, as a spokesman told AFP.

 

Morgan Stanley and reduce its presence in the field of mediation in raw materials, bonds, interest rates and currencies, has been put up for sale brokerage in the field of oil. The New York institution and prefer to focus on wealth management, an activity less risky.

 

To avoid a repeat of the financial crisis in 2008, where we have seen countries across the world are forced to recapitalize its banks, senior officials from the fiscal policies stressed discipline and control measures.

 

At the scene, the famous phrase "too big to fall", a name given to this major financial institutions, which would threaten the collapse of the entire financial system.

 

Thus imposing "Basel 3" rules for banks to strengthen its own money in the quantity and quality in Ann. And that the money should be equal to 7 percent of their assets. In other words, if it lent $ 100, should fall seven dollars of this amount in your account.

 

Even the US central bank (Federal Reserve) and the Financial Stability Board are willing to go further than that, too.

 

Financial Stability Board and wants to be required of major banks in the world that have the security rule from 16 to 20 percent of their assets (which are balanced by the risk) or the ability to accommodate a total loss.

 

As for the Fed, he plans to demand from the eight major US banks to achieve a surplus in its own money between 1 and 4.5 percent, according to their size.

 

US central bank may prevent the payment of profit rates and purchases of assets in the event of loss. This threat and weigh on Bank of America and Citigroup, which last year drew an invitation to them to return to regularity.

 

A spokesman for JP Morgan said, told AFP: "We want to keep our stable Barbahana, and continue to pay the share of the profits and buy own our assets."

 

And Bank of America said in its annual report for 2014 "reduce our investments and thus Sntkhaly for assets", while Citigroup to address "concerns".

 

And thus find themselves banned US banks from management activities in the markets for its own account. The idea is to prevent them from betting their money on private sites in the market are high costs in the event of failure, as highlighted by the case of Kerviel at Societe Generale.

 

He considered this former banker-turned-analyst, "Kroll Bond writting Chris Whalen," that "I do not think that all this arsenal of control and discipline will lead to a solution + is too big to fall +", denouncing the "mania" which entices senior financial officials in relation to the private funds.

 

He said Richard Bove at Rafferty that institution oversight bodies and their desire to force big banks to the max, ended by giving a competitive benefit to medium-sized enterprises.

 

Analyst noted that "the big banks have huge gains and could scoops them to recruit qualified staff and the acquisition of appropriate technologies to mobilize the necessary resources."

 

He acknowledged head of censorship on the Financial Services Authority in New York Benjamin Awski himself in this competitive arena deviation which leaves free of major banks in some of the activities at the expense of small banks.

 

In the intervention, at Columbia University (New York) in the February 25, talked about the certificate head of one of these small enterprises, which came tells about the difficulties of this "regulatory boom" monopoly important humanitarian resources at the expense of the traditional activity of the bank. "I will have to correct the situation."