Second, the bank
depositor in Miller conveyed information to the bank so that the bank could put the information to use «in the ordinary course of business.»
To have it black on white — albeit from the EFTA Court and not the European Court of Justice (but there should be homogeneity between the two)-- that the Directive on deposit guarantee schemes does not protect
depositor in a major collapse shook the ground under the whole European banking system though depositors may not have noticed it.
Tam Wing Cheun v. Bank of Credit and Commerce Hong Kong Ltd Ref: [1996] BCC 388 Acted for successful respondents to Privy Council appeal raising issues of insolvency set - off and the effect of a charge over a bank deposit by
a depositor in respect of a company's indebtedness.
The FDIC will cover up to $ 250,000 in combined account totals for the same
depositor in the ownership category.
Since the FDIC started,
no depositor in the US has lost any money on insured bank deposits due to the failure of a bank.
FDIC coverage for eligible deposits was permanently increased from $ 100,000 to $ 250,000 per
depositor in July 2010.
Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, was increased permanently to $ 250,000 per
depositor in 2006.
It would spook
depositors in Spain, Portugal and Ireland, possibly provoking runs on their banks.
Depositors in its collapsed banks were treated to high and tight haircuts.
In comparison,
depositors in the
«We had many experiences throughout the years where
depositors in banks were «bailed - in» and forced to take on debt as opposed to their deposits»
In an environment that saw Northern Rock and the Royal Bank of Scotland fail, Iceland's Commerce Ministry wrote to Clive Maxwell at Britain's Treasury on October 5 to assure him that the government would stand behind the TIF in reimbursing Icesave
depositors in accordance with EU directives.
Cyprus was forced to wind down one major bank and impose considerable losses on large
depositors in a second bank in return for $ 10bn in aid from the International Monetary Fund and the European Union in a move that was devastating to both Cypriots and foreign investors.
To produce in the quantities it does — Just Desserts» products are distributed nationwide and to Mexico, Canada and Southeast Asia — the company has to rely on a large - scale tunnel oven and automated
depositors in its processes.
The latest EU decision to tax
depositors in Cyprus will do nothing but enflame this sentiment.
This has contributed to the GHȼ740.5 million which is owed to an estimated 705,396
depositors in distressed or folded up Micro Finance Institutions (MFIs) and Rural and Community Banks (RCBs).
«Accordingly, the general public is cautioned that anyone who transacts any of the above mentioned business with Menzgold Ghana Company Limited, does so at his / her own risk and Bank of Ghana will not be liable to such clients and
depositors in the event of loss, the BoG said in a statement.
My view of M3 was versus other monetary measures, helping me to see how much the banking system was willing to borrow from
depositors in order to extend credit.
The decision by the Eurozone to force bank
depositors in Cyprus to contribute towards a bailout, a first in the Eurozone debt crisis, could hurt other peripheral nations, the Euro and the global stock market rally, analysts warned.
«In the unlikely event a major bank became insolvent the Government would ensure that the FSCS has access to enough immediate funding to pay out
depositors in a timely manner, through borrowing from the Government or Bank of England.
The mutual banks must remain mutual for 10 years, after which, they can be demutualized, with shares going to existing
depositors in proportion to the cumulative profit earned off of each account for existing depositors.
The following accounts may be CDIC insured but not used by
depositors in the normal course of business with CIBC Trust Corporation:
The following accounts may be CDIC insured but not used by
depositors in the normal course of business with CIBC:
The following accounts may be CDIC insured but not used by
depositors in the normal course of business with CIBC Mortgages Inc.:
I believe savers got their money back if they were within the FDIC limits, but the whole debacle was costly for the US government (and a hassle for
depositors in the failed S&Ls).
The present environment is characterized by unusually overvalued, overbought, overbullish conditions, with rising 10 - year Treasury bond yields, heavy insider selling, valuations on «forward earnings» appearing reasonable only because profit margins are more than 70 % above historical norms (fully explained by the negative sum of government and personal savings as a share of GDP), with the S&P 500 at a 4 - year market high, in a mature market advance, with lagging employment indicators still positive but more than half of all OECD countries already in GDP contraction, Europe in recession, Britain on the cusp, and the EU imposing massive losses on
depositors in order to protect lenders in an unstable banking system where Cyprus is the iceberg's tip.
Considering the reckless usage of deposits and other public monies to build buildings just to claim that gdp is high (they count the cost of real estate as investment not their final sales as the rest of the world does),
all depositors in Chinese banks stand to lose or at least have their funds frozen (since all credit funding the real estate building comes from the banks and taxes & land seizures to a lesser degree).
Even with the guaranty funds backing the insurers, the full value of large policies is not guaranteed, much like large
depositors in the banks.
Now, realize I'm not crazy about «lender of last resort» powers being in the hands of the government, but if we're going to do that, you may as well do it right, and bail out
depositors in full, while having others take modest to large haircuts.
I represented Nigerian
depositors in the London Trust Bank in its CVA, which was prompted by the FSA withdrawal of the banks license.
Directives 94/19, 77/80, 89/299 and 89/646 do not confer rights on
depositors in the event that their deposits are unavailable as a result of defective supervision on the part of the competent national authorities, if the compensation of depositors prescribed by Directive 94/19 is ensured.»
This has indeed put the foreign Landsbanki
depositors in a better place than would have been in a comparable situation with any other bank.
Not exact matches
«It's very hard to obviously get
depositors to accept negative interest rates for putting their money
in there,» said Marc Bushallow, managing director of fixed income at Manning and Napier, which manages $ 35 billion
in assets.
In addition to that, the euro area has (a) worsening problems of political instability (Italy without government, unfolding corruption scandals in recession - hit Spain and France), (b) dysfunctional banking systems (weak banks and their impaired lending activities despite ample liquidity supplied by the ECB) and (c) lingering uncertainties about the financial system's credibility (problems with depositor and investor protection
In addition to that, the euro area has (a) worsening problems of political instability (Italy without government, unfolding corruption scandals
in recession - hit Spain and France), (b) dysfunctional banking systems (weak banks and their impaired lending activities despite ample liquidity supplied by the ECB) and (c) lingering uncertainties about the financial system's credibility (problems with depositor and investor protection
in recession - hit Spain and France), (b) dysfunctional banking systems (weak banks and their impaired lending activities despite ample liquidity supplied by the ECB) and (c) lingering uncertainties about the financial system's credibility (problems with
depositor and investor protection).
But Europeans will rue the day when they decided to bail
in bank
depositors and investors, instead of properly regulating and supervising their banking systems.
In addition, from conversations with the team we believe the bank's exposure to the cryptocurrency industry extends past the Shift card to the exchanges / brokers as
depositors of USD.
In this enviornment, depositors do not want to place all their deposits in a bank doing business as usua
In this enviornment,
depositors do not want to place all their deposits
in a bank doing business as usua
in a bank doing business as usual.
The best checking account rates came
in with a more than 4.00 % APY return that will help
depositors toward their 2014 financial goals.
Like our CDs, money must remain
in these various accounts for a predetermined amount of time before the
depositor is eligible to withdraw the principal deposit and earned returns.
Meanwhile, over
in Europe, many of the commercial banks themselves are outright insolvent and have had to resort to cash and withdrawal controls to trap their
depositors» funds
in a failing system underpinned by negative interest rates.
Depositors can purchase and sell shares through a broker, who often charge commissions,
in the secondary markets.
Rather than telling prospective investors,
depositors or others that they're worth, banks can use Enron - style «mark - to - model» accounting to say that their stock's book value is whatever
in - house model - builders want to say they're worth, on whatever blue - sky assumptions they choose.
Emphatically, the trillions of dollars spent over the past year were not
in the interest of protecting bank
depositors or the general public.
It also participates
in the Certificate of Deposit Account Registry Service (CDARS), which enables the bank to provide CDs
in excess of the FDIC maximum insurance coverage of $ 250,000 per
depositor, per bank.
Last month, the failure of a wealth management product (WMP) issued by Huaxia Bank's Jiading branch
in Shanghai, which resulted
in depositors losing several hundred million yuan, set off alarms
in the country's banking sector, and analysts warned similar scandals would surface
in the coming months.
And though banks and bank
depositors are better compensated for the governments» takings, that compensation comes at taxpayers» expense, because it translates either into an immediate reduction
in Fed remittances to the Treasury or (as has been the case
in fact)
in an enhanced risk of reduced remittances
in the future.
Even bank patrons who had not invested
in shares became broke as $ 140 billion of
depositor money disappeared and 10,000 banks failed.
In both June and July, the Senate took testimony on what Wall Street has been doing with
depositor money instead of making sound loans to sound businesses.
If, before they spring the bail -
in trap,
depositors have already withdrawn their funds to purchase physical precious metals held outside the banking system, those funds will no longer be available for bail -
in looting.
I am using the expressions «
in all but name» and «effectively» because legally, Cyprus is not defaulting or imposing losses on
depositors.