Showing posts with label Banking. Show all posts
Showing posts with label Banking. Show all posts

Tuesday, December 4, 2012

Banking Union and the supervision of 6000 banks


"Nobody believes it will work. Nobody believes any institution will be able to supervise 6,000 banks.” Wolfgang Schauble, Germany’s finance minister, FT 2012
"Our specific responsibilities include the oversight of about 5,000 bank holding companies, including the umbrella supervision of large, complex financial firms; the supervision of about 850 banks nationwide that are both state-chartered and members of the Federal Reserve System (state member banks); and the oversight of foreign banking organizations operating in the United States."Chairman Ben S. Bernanke,The Federal Reserve's role in bank supervision, Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. March 17, 2010
I concede that 6000 > 5850. Not that 6000 >>> 5850.

P.S.
Question: how many Polish banks are...Polish?



Source | The Portuguese Economy | http://theportugueseeconomy.blogspot.com/2012/12/banking-union-and-supervision-of-6000.html

Saturday, November 17, 2012

IMF Managing Director Welcomes Spain's Measures to Strengthen the Banking Sector

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement on the measures announced by the Spanish authorities to strengthen the country’s banking sector:
“I strongly welcome the comprehensive set of measures announced today by the Spanish authorities. These measures offer an effective response to the vulnerabilities of the banking system while appropriately providing greater transparency and differentiating the needs of the various financial institutions. We endorse the authorities’ approach of significantly raising provisions as a cushion against potential future losses, of providing a government backstop to those institutions that may need additional time, of restructuring and resolving the banks with state participation, and of implementing an independent diagnostic review of all banks’ portfolios to frame appropriately
further steps.
"These actions, which are in line with the recommendations of the IMF’s Financial Sector Assessment Program (FSAP) mission, that recently visited Madrid, are consistent with best international practice and demonstrate the authorities’ resolve to ensure the stability of the banking system. The full implementation of these measures will help bolster confidence and support the economy’s return to growth.”

Source | International Monetary Fund - Blog NEWS | http://imf-news.blogspot.com/2012/06/imf-managing-director-welcomes-spains.html