GOUD:
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betekenis van het woord LENDING
China tekent valuta-overeenkomst met Russische bank
Slowly - but surely - the USD's hegemony is being chipped away whether by foreign policy faux pas, crossed red-lines, or economic fragility. However, on Day 1 of Vladimir Putin's trip to China it is clear that the two nations are as close as ever. VTB - among Russia's largest banks - has signed a deal with Bank of China to pay each other in domestic currencies, bypassing the need for US Dollars for "investment banking, inter-bank LENDING, trade finance and capital-markets transactions." Kirill Dmitriyev the head of Russia’s Direct Investment Fund notes, "together it’ll be possible to discuss investment in various projects much more efficiently and clearly," as Russia's pivot to Asia continues to gather steam.
Lees verder op zerohedge.comItalië: slechte leningen schieten omhoog met 26% op jaarbasis
Welcome to the recovery. For the 59th month in a row, the stock of bad loans across Italian banks rose (up ~26% YoY). At EUR 164 billion, this is a new record high and remains the biggest problem for Italian banks (non-performing loans now make up a reord 8.6% of total LENDING) as they suggest in their reports that profitability is improving. If that was not enough to have you piling cash into the heart of Europe's periphery, then the 22nd month of declines in loans to the private sector should do it. Despite a pick up in mortgage loans, private credit creation tumbled 3.1% YoY in April... not exactly the quasi-Keynesian dream that record low rates would suggest as transmission mechanisms remain entirely plugged.
Lees verder op zerohedge.comItaliaanse slechte leningen op recordhoogte
With all eyes gloating over Ireland's recent ability to issue debt in the capital markets once again (and now with 10Y trading only 40bps above US Treasuries), Europe's game of distraction continues. However, while spreads (and yields) tumble in all the PIIGS, with Italian yields at almost 7-year lows, it is perhaps surprising to some that Italian bad loan rates are at their highest on record. Having risen at a stunning 23% year-over-year - its fastest in 2 years, Italian gross non-performing loans (EUR149.6 billion) as a proportion of total LENDING rose to 7.8% in November (up from 6.1% a year earlier). As the Italian Banking Association admits in a statement today, deposits are declining (-1.9% YoY) and bonds sold to clients (-9.4% YoY) as Italy's bank clients with bad loans have more than doubled since 2008.
Lees verder op zerohedge.comKredietverlening in de Eurozone neemt verder af
FRANKFURT. — A sharp contraction in LENDING to businesses in the eurozone coupled with slowing money supply growth suggests the region’s fight against deflation may not be over, analysts said yesterday. Regular monthly data compiled by the European Central Bank showed private sector loans in the single currency area dropped by 2,1 percent in October in a year-on-year comparison, after already contracting by 2,0 percent in September.
Lees verder op co.zwMax Keiser en Stacy Herbert over
Max Keiser and Stacy Herbert discuss the Dutch blues and the pay per gaze advertising coming to a pair of glasses near you. Max proposes a scheme of mortgages collateralized by food stamps. In the second half, Max talks to Ann Pettifor of PrimeEconomics.org about the Alice in Wongaland economy in the United Kingdom where people borrow from payday lenders in order to live and, instead of LENDING to the economy, the economy is LENDING to banks. They also discuss interest rate apartheid, carry trades and public unrest.
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