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Archive for the ‘Financial institutions’ Category

Financial institutions are companies or institutions established with the aim to facilitate, mediate or provide loans and credits to individuals or legal entities for the financing of certain resources which usually offer greater flexibility and speed in granting the loan.

They can be public or private financial institutions, responsible for facilitating financing and personal loans to those who need resources, be they companies or individuals. Ranging from banks and savings to the companies they lend us money for the purchase of a specific as you can be a vehicle.

These are the money-issuing sector and include, for the euro zone, European Central Bank (ECB), national central banks, credit institutions and all financial institutions resident in the euro area, whose business is to receive deposits and / or close substitutes for deposits from non-financial agents.

To access a personal loan offered by a lender can see the comparison of personal loans from financial institutions that make loans more competitive in the market today.

Office Direct Personal Loan: personal loan with maximum amount of EUR 50,000 and amortization of between 2 and 10 years. The interest rate the first year loan is 5.25% and annual review Euribor + 3.75%.

Variable Personal Loan On Caixa Galicia: online personal loans with maximum funding of € 75,000 and repayment term of 10 years. The nominal interest for the first 6 months of the loan is 7% and the following 10 years of the loan at Euribor + 3.25%.

Deutsche Bank Trust Loan: personal loan with variable interest rate Euribor + 6.60% depending on conditions of employment. The maximum loan amount is 60,000 euros and maturity of 8 years.

The interest rate and terms of comparing best personal loans offered by financial institutions may vary the offers and the risk profile of each customer and the loan amount requested.

At the Central Bank of Congo, the modernization of the national payment system by introducing new payment is not wishful thinking, much less a rhetoric. Indeed, it is celebrated everyday. With the breakthrough of mobile phones, the Central Bank of Congo explores the possibility to use this tool in telecom testing of innovative financial services.

It is for further study that the central bank has approached the Ministry of Posts, Telephones and Telecommunications (PTT). Last week, on the initiative of the Directorate of Surveillance of financial intermediaries to the BCC, experts from both sides met at the Cercle de Kinshasa to discuss mechanisms to implement to make this happen. The meeting revolved around the theme: “Mobile telephony and banking.”

Two sides, it was satisfied that the remote financial services, including mobile phones represent a new pathway to explore in the implementation phase of modernization in the DRC’s national payment system. With the help of expertise from the Ministry of PTT, the Central Bank has set a goal of having adequate knowledge of existing infrastructure, potential challenges and opportunities to support and facilitate the bursts of innovation in mobile telephony and banking services to ensure their promotion and popularization.

Present at the opening of the meeting, Deputy Prime Minister and Minister of PTT, Simon Bulupiy, praised the initiative of the Central Bank stressed that in the development phase of new payment modes, new technologists information and communications such as mobile phones should be used to offer new financial services and banking. But long before the Deputy Prime Minister Bulupiy, the Governor of the Central Bank of Congo, Jean-Claude Masangu Mulongo, has reframed the debate, notably by identifying the objectives pursued by the Central Bank in the context of implementation of the plan modernization of the national payment system. To justify the necessity of reflection initiated by the Central Bank, it started with the desire expressed by the international community to reduce by 2015 poverty in the world through the implementation of the Millennium Development Goals. The strategy for achieving these vital goals including the mobilization requires considerable resources and new, can allow many people with poor access to financial services. In this context, he indicated that the Central Bank continues to play its part by developing since 2001 as the reflections on the revival and consolidation of the banking system.

Thus, for the Governor of the Central Bank of Congo, the next decade from 2011 to 2020 will be the expansion and geographic penetration of the banking system. “In addition to upgrading existing courses, mobile phones also will be called to play a more decisive role. Indeed, and to take just one example, by comparing the number of subscribers in the telecommunications sector relative to the number of account holders, we realize that this may be the scope of intervention of this new tool that will allow Millions of Congolese have access to financial services such as savings, transfer, credit, payment of bills and salaries. “

Note that the remote financial services, such as those offered by mobile phone, representing a “new pathway that merits looking under development and the interest shown by the parties involved,” said Jean Claude Masangu. The weight of innovation, there are many conditions to be met for successful innovation. These include, inter alia, issues including the definition of electronic money, the requirements for accreditation of operators operators, the principles of prudential supervision, the risks involved and the fight against money laundering.

G20 Summit in Washington, the Heads of State and Government pledged that all markets, financial players and products are subject to proper monitoring.

- The G20 has extended the scope of financial sector supervision: the rating agencies and hedge funds are now required to be registered and subject to rules, and can be sanctioned for violations, like all actors regulated, supervisors can require that financial products are now standardized, traded on organized exchanges and treated in clearing houses, and finally since late 2009, the salaries of market operators are governed by common principles of the G20.

- The G20 has strengthened the rules applicable to controlled financial sector, including banks: the end of 2010, the G20 has reached an agreement on a new prudential framework for banks (Basel III), all States have pledged to implement in a time frame. This agreement was reached in 2 years, a record time compared to the previous framework (Basel II) which was concluded after 10 years of negotiations. The G20 has also decided on a course of treatment of systemic institutions based on different instruments (supervision, resolution, enhanced capital, tax systems: some European states such as France have already adopted a tax systemic) .

- The G20 has the means to fight against uncooperative jurisdictions and dumping regulations: in April 2009, the G20 has asked the OECD published a list of uncooperative jurisdictions (JNC) has not signed at least 12 agreements on exchange of information in tax matters. He called the JNC to quickly sign these agreements or face sanctions. Since then, nearly 600 agreements to exchange tax information were signed. Similar arrangements have been established to fight against money laundering and against non-cooperative jurisdictions in prudential matters. Finally a board of financial stability has been established to coordinate international and national regulators, to struggle against the behavior of “lowest bidder” regulatory and ensure there are no gaps in the control sector Financial.

The recent crisis was caused by the accumulation of risks in the financial sector beyond the control of supervisors because our regulatory system had many flaws:

- Large parts of the financial sector, such as rating agencies and hedge funds, were not controlled, some financial products like derivatives, OTC (OTC) escaped any form of surveillance, compensation in the financial sector , factors of excessive risk taking in business, were not subject to any supervision.

- The rules were incomplete: the activities of banks were supervised by the Basel II rules whose implementation was still incomplete at the outbreak of the crisis in 2007-2008, our systems of supervision were lacking specific tools to fight against systemic risk , that is to say against the contagion in the financial sector.

- The rules were applied too unequal: a large number of non-cooperative jurisdictions refused to exchange the information needed for the fight against tax evasion (tax havens) or the fight against money laundering and no international body does was responsible for coordinating the activities of international and national regulators.

The article describes those key factors that determine why family businesses are able to overcome a crisis more easily than non-family corporations.

At the beginning of the financial crisis in Europe, most people believed that large public corporations would be prepared to withstand the drubbing.

They were wrong, were the characteristics of family companies that enabled them to quickly stay afloat.

While large public corporations suffered a blow in its activity during 2009, family firms were less affected.

There are several factors that determine why they are able to more easily overcome a crisis. Unlike public corporations, family businesses have non-economic motivations beyond mere business goals. And it is precisely those social and family factors that make these companies are well prepared to survive long periods of crisis.

Second, the increasing trend to measure corporate performance in terms of short-term devastating effects for the development of the economy.

The successful family businesses have a corporate governance system whose main objective is to create value for the whole community. In this way, they can prevent disasters such as occurred in recent years, when the profit motive of a few, motivated by short-term interests, threatened the prosperity of many.

In addition, family capital, also known as patient capital, is not subject to daily scrutiny of financial markets or the rail pressure of shareholders eager to positive quarterly reports. Thus, family firms may face losses for a few years while its business strategy remains intact.

And finally, the most successful family businesses have been able to align the interests of all its members and are particularly interested in keeping alive the family values for generations.

Noting some success stories, it is easy to deduce that the survival of businesses going to have the ability to act socially responsible. But this entails not only establishing certain non-economic objectives, but also reflects how these objectives to be achieved and how to reward those responsible for their achievement.

Survive or not this crisis has depended largely on the ability of directors to create value for the entire community rather than focusing solely on maximizing the benefit of shareholders.

Therefore, we must ask why the majors, many of which were once successful family businesses have stopped paying attention to these four factors causing such destruction of economic and social value during the financial crisis that erupted ago three years and still continue to suffer.

Networking has always been a key success factor in business. Include the creation of networks that bring together individuals through trust and the relationship to be walking, talking advertisement of others. Traditional networks are often up to face business meetings, conventions and exhibitions, where people are able to meet and face working groups for mutually beneficial relations. Online social networks has many advantages as traditional networks, while bankers easier to network with the average consumer, and their peers in the financial sector. The correct application offers online social networking companies with a sense of customer relations will develop in the long term.

A study of the banking sector and how the boards of several banks’ networks with others, has shown that when these professionals are familiar with networks to get new customers and maintain and develop interesting relationships with existing customers, but also want use networks to represent their banks in community organizations, professional and business and market trends and competition information. determined to achieve the objectives of this study should be understood as board members and other employees of the bank in the first place, social networks and how they can use to adjust the position of their banks above others in the industry. If properly trained, these employees can use social networks to invest to achieve the objectives of your organization and banks, banks in the top positions in industry in the following five types:

• Community Building.
• Research products.
• Customer service.
• Marketing and promotion.
• Transparency.

Social networking is currently used to support the reputation of financial institutions that use it, the provision of information internally and externally. This exchange of information and consumer confidence and help employees better understand the importance of their role within their banks, and how to seek the highest level of customer service.

The credit company has recently been developed by financial institutions to benefit the micro, small and medium enterprises. The same may access through this credit, credit lines, while its debts are paid electronically or do any transactions with other companies.

If you are an entrepreneur, probably sometime think of applying for credit, no matter how big your capital. Whether you are just starting and need equipment, locomotion, land or office supplies, or to develop a new product line or make an extensive marketing campaign, it is certain that at some point have to resort to credit. Read the rest of this entry »