Category «Economy»

Flexible working extended to all employees in UK

Press Association: “Millions of employees will have the right to request flexible working from Monday under new measures the government believes will particularly benefit older people. The right has only been available for carers, or people who look after children, but is being extended to all employees. Ministers said flexible working helps people balance their job with …

Subjects: Economy, Government Documents

Americans work more hours than counterparts around the world – OECD

WSJ.com, Erin McCarthy – ‘The U.S. needs to focus on improving well-being more broadly for its citizens, particularly as long working hours and stark income inequality are hindering quality of life, the Organization for Economic Co-operation and Development  said in its recent economic survey of the U.S. [OECD Economic Surveys: United States 2014]. It highlighted a notable divide …

Subjects: Economy, Financial System, Government Documents

How a Bitcoin Rival Could Create a Global Supermoney – American Banker

American Banker, Richard Samson – [Editor’s note: This article is based in part on SUPERMONEY: The New Wealth Beyond Banks and Bitcoin, which appears on Samson’s Futurist blog published by the World Future Society.]  While Bitcoin grabs headlines, a little-noted rival promises to supercharge all currencies old and new, fiat and cyber. An open-source programming system …

Subjects: Economy, Financial System, Internet

New Chinese LDR Rules Could Raise Bank Asset Quality Risk

Fitch news release: “Fitch Ratings-Beijing/Singapore-03 July 2014: The 30 June decision by the China Banking Regulatory Commission (CBRC) to amend the calculation of bank loan/deposit ratios (LDRs) is part of an ongoing targeted easing of liquidity conditions. Spurring growth of lending to small/micro enterprises (MSEs) has the potential to hurt bank credit profiles over the …

Subjects: Economy, Financial System

Survey on securitisation markets conducted by BCBS-IOSCO Task Force

“The Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) are co-leading a task force that will undertake a wide-ranging survey of securitisation markets worldwide. Established in consultation with the International Association of Insurance Supervisors (IAIS) and the International Accounting Standards Board (IASB), the cross-sectoral Task Force on Securitisation Markets will: …

Subjects: Economy, Financial System, Government Documents

Financial Regulatory Agencies Release Public Sections of Resolution Plans

“The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Wednesday released the public portions of annual resolution plans for 17 financial firms. Each plan must describe the company’s strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company. The Dodd-Frank …

Subjects: Economy, Financial System, Government Documents

FHFA Actions to Manage Enterprise Risks from Nonbank Servicers Specializing in Troubled Mortgages

FHFA Actions to Manage Enterprise Risks from Nonbank Servicers Specializing in Troubled Mortgages (AUD-2014-014) – 07/01/2014 “Banks that traditionally service mortgage loans backed by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the Enterprises) have been selling the rights to service troubled loans (e.g., delinquent or in default) in …

Subjects: Economy, Financial System, Government Documents, Housing