banks

Banks’ net interest income to rise over 20% y-o-y in Q4: Analysts

Even as banks see a rise in core income and a drop in fresh bad loans, they may see a fall in non-interest income, with treasury income falling sharply on a sequential basis.




banks

Easy loans: Banks to sanction retail loans through portal

Industry members claim that the turnaround time after loan sanctions through the portal has been long. In a meeting with finance minister Nirmala Sitharaman earlier this month, an industry association raised a complaint to this effect.




banks

Working capital loan sanctions doubled, banks contacted 95% eligible firms for credit: FM Sitharaman

Nirmala Sitharaman’s office on Thursday had tweeted that PSBs sanctioned loans worth Rs 5.66 lakh crore for over 41.81 lakh accounts in MSME, retail, agriculture and corporate sectors during March-April 2020.





banks

Citi Sees Capital Markets Reviving Renewables as Banks Bow Out

Renewable energy companies will derive more of their funding from bond markets as banks curb lending to the industry, Citigroup Inc.’s head of environmental finance said.




banks

Local Focus: Foodbanks and commercial kitchens to the rescue

In times of need help can come from anywhere, even your favourite restaurant. Seventh Avenue Group runs three Tauranga restaurants - Brooklyn Patio on The Strand, Neighbourhood Kitchen in Cherrywood and Rain Bar in Pāpāmoa....




banks

As demand for food skyrockets due to coronavirus, food banks play catch-up

The need for food in L.A. County has reached record levels, putting food banks under pressure to deliver even while their normal supply chains are disrupted.






banks

Policy Paper: Scaling up climate-compatible infrastructure: Insights from national development banks in Brazil and South Africa

National development banks (NDBs) and development finance institutions are poised to play a role in bridging the investment gap for climate-compatible infrastructure in developing countries. This paper highlights the role of NDBs drawing from case studies of the Brazilian Banco Nacional de Desenvolvimento Econômico e Social and the Development Bank of Southern Africa.




banks

Blog: Fighting the climate emergency? Enter National Development Banks

Developing countries are at the forefront of the ongoing battle to address climate change. Roughly 60% of the new infrastructure built before 2030 will be in the developing world, and it is these investment decisions that will determine our collective ability to address the climate emergency.




banks

Green investment banks

To leverage the impact of relatively limited public resources, over a dozen national and sub-national governments have created public green investment banks (GIBs) and GIB-like entities.




banks

FATF guidance tackles terrorist finance and money laundering risk in banks and corporate entities

New guidance from the Financial Action Task Force (FATF) will help countries tackle the misuse of corporate entities for money laundering, terrorist financing and other illicit purposes.




banks

Trump says US will start buying $3billion of agricultural goods from farmers to give to food banks

President Trump announced the $3billion food buy - part of April's $16billion farmer assistance program - would begin next week, as unemployment continues to soar in the US.




banks

JEFF PRESTRIDGE: Crisis must not kill off our banks or our cash

There will be many changes for the worse when we finally creep out of lockdown and realise that the economy has gone into shrink mode.Cash will be a 'victim' of coronavirus.




banks

Tyra Banks responds to controversial ANTM behavior after unearthed scenes resurface

Tyra Banks has apologized for her 'insensitive' behavior during some past moments on America's Next Top Model. The show ran for 24 seasons and debuted back in 2003.




banks

Banksy strikes again with Valentine's Day graffiti

The graffiti shows a young girl in a headscarf, stencilled onto the side of a house in the Barton Hill area of Bristol with black and white paint.She holds a catapult in one hand with the other hand behind her, as though she has just launched a projectile. At the end of the catapult's trajectory is a bright red shape like a blood splatter, made of red plastic leaves and flowers.




banks

Banksy reveals new artwork under COVID-19 quarantine

The elusive anonymous artist, who usually works in the street, posted a set of images on his Instagram, with the caption: "My wife hates it when I work from home."




banks

Banks across Punjab to open on March 30-31




banks

Banks in Punjab to remain open on March 30, 31




banks

Banks in Punjab to remain open on March 30-31 amid lockdown




banks

Punjab govt issues advisory on maintaining hygiene, sanitization in banks





banks

Banks report commercial payments decline amid Covid-19

As the Covid-19 pandemic spreads, commercial payments volumes have declined across the globe due to...




banks

COVID-19 impact on Saudi Arabian banks might last up to nine months – KPMG study

A report released by KPMG Saudi Arabia has revealed...




banks

With 7.45 lakh followers, RBI most popular among central banks on Twitter

With the microblogging site emerging as a key platform for information dissemination, many central banks are active on Twitter, especially in these times of economic uncertainties amid the coronavirus pandemic.




banks

Are threatened European plant species conserved in seed banks?

A new European study has assessed whether seed banks are successfully conserving European plant species threatened by extinction. The findings indicate that threatened species are only partly conserved by seed banks, and that these facilities need to focus their future efforts on filling gaps in their collections.




banks

Crop wild relatives ‘critically under-represented’ in gene banks

Wild plants closely related to crops, or ‘crop wild relatives’, contain genes that could be useful for developing resilient crop varieties and are, therefore, important for food security. This global study quantified their conservation status and availability for breeding. The researchers found major gaps in gene-bank stocks, with over 70% of crop wild relative species identified as ‘high priority’ for conservation action. The researchers say systematic efforts are needed to protect crop wild relatives for future plant breeding, including both protection in gene banks and local conservation.




banks

Governor Abbott, TDEM Apply For FEMA Assistance Funds To Support Texas Food Banks




banks

If you avoid junk food, doesn't it make sense that food banks would, too?

As the season of giving approaches, support your local food bank's commitment to give less junk food and donate only nutritious food.




banks

Banksy's new eco-themed mural

Famous graffiti artist Banksy creates a mural that sinks in global warming denial.



  • Arts & Culture

banks

Harvest Dome 2.0 to be moored along the fetid banks of the Gowanus

A giant floating sphere built from discarded umbrellas will next set sail on one of the country's most notorious Superfund sites: The Gowanus Canal.



  • Arts & Culture

banks

Why food banks are so overwhelmed right now

With fewer people working and more people in need, food banks are struggling during the COVID-19 pandemic.



  • Fitness & Well-Being

banks

Arron Banks and Elizabeth Bilney agree settlement with Electoral Commission

Commission states it accepts the National Crime Agency’s conclusions that it found no evidence that any criminal offences had been committed after it investigated loans totalling £8m provided to the Leave.EU campaign from one of Banks' other companies.




banks

Maintaining profitability important in big banks’ interest rate cut decisions

27 April 2020

Maintaining profits was a major consideration for the big four banks as they weighed whether to reduce mortgage rates in line with Reserve Bank of Australia cash rate cuts during 2019, the ACCC has found.

The ACCC’s Home Loan Price Inquiry interim report, released today, shows that the big four banks considered various factors as they decided whether to pass on the RBA’s June, July and October 2019 rate cuts. But recovering profits was central to their decisions to not always fully pass through the lower rates to mortgage customers.

“The banks were attempting to shore up their profitability during a period of low interest rates,” ACCC Chair Rod Sims said.

“It was their strong preference, after the RBA’s cuts, not to further reduce the rates customers were earning on some deposit products as they approached zero per cent.”

“The banks’ reluctance to cut these deposit rates led them to anticipate lower profits, which they aimed to recover by not always fully passing through cash rate cuts to their mortgage customers,” Mr Sims said.

The ACCC’s analysis also found that the big four banks benefitted from a sustained decrease in their funding costs during much of 2019. While headline rates for owner-occupier home loans with principal and interest repayments fell overall during 2018 and 2019, the banks’ funding costs fell even more over the same period.

“We recognise that much has changed in the economic and funding environment since last year. The COVID-19 pandemic has shifted priorities and the banks are playing an important role in supporting the economy,” Mr Sims said.

“However, the inquiry findings shed an important light on bank decision making and raise questions about whether the banks could, at the time, have passed on a higher proportion of those RBA cash rate cuts to their mortgage customers.”

The ACCC’s Home Loan Price Inquiry interim report also shows that although average interest rates charged by the big four banks on home loans fell during 2019, a lack of price transparency and higher interest rates for existing loans continued to cost customers.

The interim report examines home loan prices charged by the big four banks between 1 January 2019 and 31 October 2019. It found that home loan pricing practices continue to make it difficult for consumers to compare different mortgage products.

Headline rates did not accurately reflect the price most big four bank customers actually paid for their home loans, because the overwhelming majority of customers received discounts, including opaque discretionary discounts.

“Given the economic disruption, uncertainty and job losses stemming from the COVID-19 pandemic, many consumers may not be inclined to shop around and ask for discounts from their banks right now,” Mr Sims said.

“However, our analysis shows how that even a small further reduction in interest rates could potentially save thousands of dollars over the life of a mortgage. Consumers should consider this carefully when it is time to re-engage with their lender.”

For example, a customer with an average-sized new, owner-occupier, principal and interest mortgage of $386,000 could save about $5000 on interest payments in the first year if they went from having no discount to receiving the big four banks’ average discount of 128 basis points.

At the end of September, customers with new owner-occupier loans with principal and interest repayments were paying, on average, 26 basis points less than customers with existing loans. The difference was usually even more significant for customers with older loans.

The ACCC’s final report, scheduled for release later this year, will consider barriers to consumers switching to alternative home loan suppliers.

Further information at Home loan price inquiry

Background

On 14 October 2019, the Treasurer, the Hon. Josh Frydenberg MP, issued a direction to the ACCC to conduct an inquiry into the market for the supply of home loans. The specific matters the ACCC was directed to take into account included:

  • prices charged for home loans since 1 January 2019, including:
    • the difference between advertised interest rates and interest rates paid by customers
    • the difference between interest rates paid by new and existing customers
    • home loan suppliers’ pricing decisions following changes in the RBA’s target for the cash rate, including the extent to which changes were due to suppliers’ cost of funds and the timing of the suppliers’ announcements
  • impediments to consumers refinancing to alternative home loan suppliers.

The interim report focuses on the first issue regarding the prices charged for home loans between 1 January 2019 and 31 October 2019 by the big four banks, which account for close to 80 per cent (by value) of home loans held by authorised deposit-taking institutions in Australia. The final report will consider the second issue, impediments to consumer switching.

The big four banks are Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank, and Westpac Banking Corporation.

In preparing the interim report, the ACCC used its compulsory information gathering powers to obtain information and documents from the big four banks, and supplemented its analysis with data supplied by the RBA and the Australian Prudential Regulation Authority. 

The findings in the report reinforce and build on those in the ACCC’s earlier Residential Mortgage Price Inquiry.

Release number: 
84/20
ACCC Infocentre: 

Use this form to make a general enquiry.

Media enquiries: 
Media team - 1300 138 917
Audience




banks

US Secretary of the Navy Honorable Richard V. Spencer Visits Fairbanks Morse's Beloit Facility

Secretary recognizes the significant impact Fairbanks Morse workforce has on the US Navy




banks

Jonathan Leo Fairbanks Presented with the Albert Nelson Marquis Lifetime Achievement Award by Marquis Who's Who

Mr. Fairbanks has been endorsed by Marquis Who's Who as a leader in the field of visual art




banks

Saving Banks from the Bankers

Sallie Krawcheck, former president of Bank of America Global Wealth & Investment Management and author of the HBR article "Four Ways to Fix Banks."




banks

Should you take loans linked to benchmarks other than repo rate? Which banks offer these?

According to the RBI Monetary Policy Report, 36 banks out of 62 banks have adopted repo rate as an external benchmark whereas six banks have adopted the market-based benchmarks such as CD rate, 3-month treasury bill etc.




banks

SBI's 1-year FD is offering lower interest rate than some banks' savings accounts

Apart from small finance banks, certain private banks are also offering higher interest rate on savings accounts. Banks offering higher interest rates on savings account comes with certain conditions.




banks

RBI allows 24x7 forex mkt ops via select banks

select banks in India can offer forex rates to Indian clients beyond the inter-bank market hours




banks

Banksy Drops Off Superhero Nurse Artwork at Hospital in UK With a Thank You Note

Banksy droped off an art piece that is inspiring the world with its superhero nurse theme, in gratitude to NHS Southampton General Hospital in England.

The post Banksy Drops Off Superhero Nurse Artwork at Hospital in UK With a Thank You Note appeared first on Good News Network.




banks

Kroger Buys and Redirects Dairy Farmers’ Excess Milk, Sending 50,000 Gallons Per Month to Food Banks

Though it’s difficult for food banks to stock this item, nutrient-dense milk is one of the most-often requested items. Now, in these critical times, the Kroger grocery store chain has ramped-up its Dairy Rescue Program, one that takes donated excess raw milk normally sold to restaurants or hotels, which is now going to waste, and […]

The post Kroger Buys and Redirects Dairy Farmers’ Excess Milk, Sending 50,000 Gallons Per Month to Food Banks appeared first on Good News Network.




banks

Banks trying to lock up your loan

It seems that banks and other lenders are doing their best to lock in our mortgages.




banks

The density and distribution of Sitka spruce and western hemlock seedling banks in partially harvested stands in southeast Alaska

This study's objective was to document and describe the current seedling bank of Sitka spruce (Picea sitchensis (Bong.) Carr.) and western hemlock (Tsuga heterophylla (Raf.) Sarg.) stands in southeast Alaska that were partially cut between 1900 and 1984.




banks

Food banks prepare to feed far more as COVID-19 disrupts America's food system at every level

At every level of America's food system, mandated closures and outbreaks of COVID-19 have interrupted the finely tuned network that normally gets food from farmers and food processors to restaurants, grocery stores and food banks.…



  • News/Local News

banks

Sammy Eubanks, Cami Bradley team up for virtual concert Saturday for Meals on Wheels

Two beloved Spokane-based entertainers are teaming up this weekend for a good cause.…



  • Music/Music News

banks

Voltage regulator with inductor banks and control signal

A voltage regulator coupled to an unregulated DC input voltage source by an input terminal, and to a load by an output terminal is disclosed. The voltage regulator converts an input voltage at the input terminal to an output voltage at the output terminal. The voltage regulator includes one or more slaves, and each slave includes a switching circuit which serves as a power switch for alternately coupling and decoupling the input terminal to an intermediate node. The voltage regulator also includes a filter coupled to the slaves, the filter including one or more inductor banks each of which having a predetermined number of inductors.




banks

Sophie's Kitchen Donates Vegan Seafood to Local Food Banks


East Bay resident Miles Woodruff, CEO of the pioneering vegan-seafood brand Sophie's Kitchen, has just donated 3,000 cases of plant-based Toona to the Food Bank of Contra Costa and Solano County as well as several other Bay Area food shelters.

Amidst the Covid-19 outbreak, the company's brand-new Lemon Grass Toona flavor has not yet arrived in grocery stores — but 100 percent of it is now being provided to people in need.…




banks

People's And United Banks Announce Merger

Two major Connecticut banks announced Tuesday they will merge in a $759 million deal.