different banks names

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Different banks names -

List of Banks in Canada

Canada’s banking system includes Schedule I banks (domestic banks), Schedule II banks (foreign bank subsidiaries) and Schedule III banks (branches of foreign banks). With over 280,000 employees, Canadian banks operate through a network of more than 6,300 branches and about 19,000 ATMs across the country. The total number of Visa and MasterCard cards in circulation in Canada amounted to approximately 70 million in 2017.

Amex Bank of Canada – The issuer of American Express charge and credit cards, with outstanding products like the American Express Gold Rewards Card, the American Express Platinum Card, and the American Express AeroplanPlus Gold Card.

Bank of America (Canada Branch) provides financial products and services to corporate, institutional and commercial customers throughout Canada.

Bank of Canada – The central bank of Canada established in March 1935. It is not a commercial bank and does not offer banking services to the public. Since 1998, the Bank's policy has been to intervene in the foreign exchange market only under exceptional circumstances.

Bank of Montreal (BMO) – The fourth largest bank in Canada in terms of assets and deposits. BMO serves over 12 million customers through offices in Canada, the U.S. and other countries. Founded in 1817, it is the oldest bank in Canada. BMO Wealth Management was named Best Wealth Management in Canada by Global Banking and Finance Review.

Bank of Nova Scotia – Canada’s third largest lender by deposits, assets and market value. As of May 10, 2018, Scotiabank had a market capitalization of US$75 billion.

Bank West was Canadian chartered bank with a specific focus on the western provinces. It operated as a subsidiary of Western Financial Group. In 2011, Western Financial Group was acquired by the Desjardins Group.

B2B Bank is a Schedule I Canadian bank which serves a network of some 27,000 independent financial advisors and mortgage brokers across Canada. It has over $11 billion in total assets.

Bridgewater Bank – A Canadian Schedule I chartered bank with a portfolio of approximately $3.0 billion. It offers mortgages, credit cards and deposits. Bridgewater is a wholly owned subsidiary of the Alberta Motor Association, one of the largest affiliates of CAA (Canadian Automobile Association) and AAA (American Automobile Association) in North America.

Business Development Bank of Canada is the only bank exclusively dedicated to entrepreneurs. BDC provides business loans, venture capital and consulting services through a network of about 120 business centers across the country.

Canadian Imperial Bank of Commerce (CIBC) – One of the top five banks in Canada. It provides a complete range of financial products and services through over 1,080 branches and offices and 3,800 ATMs across Canada. It was named Best Treasury & Cash Management Bank in Canada by Global Finance. As of December 1, 2017, CIBC had a market capitalization of US$42 billion.

Canadian Tire Bank (CTB) – A subsidiary of Canadian Tire Corporation Limited. CTB offers savings accounts, credit cards and online banking services. Canadian Tire is one of the ten largest credit card issuers in Canada.

Canadian Western Bank – A Schedule I chartered bank with headquarters in Edmonton, Alberta and principal operations in the four western provinces of Canada. The branch network consists of 17 branches in Alberta, 18 branches in British Columbia, 4 branches in Saskatchewan and 2 in Manitoba. As of January 31, 2017, it had total assets of over C$25 billion.

Capital One offers a range of credit cards in Canada.

Citi Canada – A subsidiary of Citigroup Inc., an American multinational financial services company headquartered in New York. Citi operates in Canada through the Citibank, Citi Cards Canada, CitiFinancial, Citigroup Global Markets, Citigroup Fund Services and Citi Private Bank.

CFF Bank (formerly MonCana Bank of Canada) is a Canadian owned Schedule I Bank. It operates as a subsidiary of Home Trust Company.

Churchill International Property Corp – A real estate company with a focus on commercial real estate properties in Canada.

CS Alterna Bank is a federally licensed bank operating as a subsidiary of Alterna Savings, a credit union formed by the merger of CS CO-OP and Metro Credit Union.

Credit Suisse Securities (Canada), Inc

Desjardins Group (or Mouvement des caisses Desjardins) – The largest cooperative financial group in Canada. It was ranked first in North America in Bloomberg’s 20 Strongest Banks in the World.

Deutsche Bank Securities Ltd

DirectCash Bank (DC Bank) – A Canadian bank based in Calgary, Alberta. It offers ATM accounts and prepaid credit cards. DC Bank account is ideal for everyday ATM usage, point-of-sale and bill payments.

Dundee Corporation is a public Canadian independent holding company with a market capitalization of US$234 million as of January 30, 2017.

Exchange Bank of Canada (EBC) – The only foreign currency exchange specialist Schedule 1 Bank in the country.

First Nations Bank of Canada – A chartered bank with branches in Saskatoon, Chisasibi, Walpole Island, Whitehorse, Nunavut, and Winnipeg. It focuses on Aboriginal marketplace in Canada and offers deposit accounts, loans, mortgages, investments and credit products.

General Bank of Canada offers car loans and Guaranteed Investment Certificates through a network of auto dealers and independent deposit brokers.

HomEquity Bank – The leading national reverse mortgage provider. It originates the largest portfolio of reverse mortgages in Canada, under the CHIP Reverse Mortgage and Income Advantage brands. The Bank is owned by Birch Hill Equity Partners.

HSBC Bank Canada – The seventh largest bank in Canada with offices in every province except Prince Edward Island. It is also the largest foreign-owned bank in the country. The corporate headquarters is located in the financial district of Vancouver, British Columbia.

ING Direct Canada (ING Bank of Canada) was a direct retail bank headquartered in Toronto. It was acquired by Bank of Nova Scotia and rebranded to Tangerine in 2014.

Jameson Bank was a leading provider of integrated foreign exchange and payment solutions to small and medium sized businesses in Canada and the United States. It was acquired by Associated Foreign Exchange (AFEX) in 2014.

Laurentian Bank of Canada – A Schedule I chartered bank operating through a network of over 100 retail branches and nearly 400 ATMs located primarily in Quebec. It provides a wide array of retail and commercial banking services to individuals and small and medium-sized businesses.

Manulife Bank of Canada – A wholly owned subsidiary of Manulife Financial Corporation. The Bank was established in 1993 and operates in all provinces and territories.

MBNA Canada – One of the leading credit card issuers in Canada. The company operates as a division of The Toronto-Dominion Bank.

MonCana Bank of Canada was a Schedule I bank offering residential mortgages and deposit products. It was acquired by Canadian First Financial Group.

National Bank of Canada – One of the leading integrated financial groups. It ranks among Canada's best diversity employers.

Power Corporation of Canada (TSX: POW) – A diversified holding company with interests in financial sector, communications and other business segments in North America, Asia and Europe.

President`s Choice Financial – A banking service provided by Loblaw Companies Ltd, the nation’s largest retailer. PC Financial was ranked by J.D. Power and Associates as the leader in customer satisfaction among mid-sized Canadian banks.

Royal Bank of Canada (RBC) – The largest bank in Canada by market capitalization and the second safest bank in North America according to Global Finance. As of May 17, 2018, RBC had a market capitalization of US$112.7 billion.

Street Capital Bank of Canada – A Schedule I bank providing deposit and residential mortgage products.

Tangerine Bank (formerly ING Bank of Canada Inc) – The direct banking subsidiary of The Bank of Nova Scotia. Tangerine ranks "Highest in Customer Satisfaction among Midsized Retail Banks" according to J.D. Power.

TD Canada Trust – A business line of Toronto-Dominion Bank.

Toronto Dominion Bank – The safest bank in North America according to Global Finance Magazine. It is also the largest bank in Canada by assets and deposits. As of June 30, 2017, TD had a market value of US$93 billion.

Vancity, located in Vancouver, is Canada’s largest credit union with over 400,000 members and $19 billion in assets.

Vancity Community Investment Bank (formerly Citizens Bank of Canada) – An internet bank owned by Vancouver City Savings Credit Union. It focuses on Visa credit and prepaid cards, foreign exchange and commercial lending.

VersaBank (formerly Pacific & Western Bank of Canada) – A Canadian Schedule I chartered bank specializing in deposit and lending services. It is headquartered in London, Ontario, with its deposit operations located in Saskatoon, Saskatchewan and lending operations in Toronto, Waterloo, London, Saskatoon, and Vancouver.

Wealth One Bank of Canada (WOBC) – A Schedule I bank with a focus on providing services to Chinese Canadians.

Zag Bank (formerly Bank West) – A direct bank offering a range of financial products and services through mobile and online applications.

See also:Best Banks in Canada, Best Student Credit Cards

Top 10 Banks in Canada

 Total Assets (C$ billion)

RankBankOct 31, 2017201620152014201320122011
1Toronto-Dominion Bank1,279.001,176.971,104.37960.511862.021811.106735.493
2Royal Bank of Canada1,212.851,180.261,074.21940.550859.745825.100793.833
3Bank of Nova Scotia915.273896.266856.497805.667743.788668.044594.423
4Bank of Montreal709.580687.935641.881588.659537.299525.449500.575
5Canadian Imperial Bank of Commerce565.264501.357463.309414.903398.389393.385383.758
6Desjardins Group276.310258.367248.128229.387212.005196.818190.182
7National Bank of Canada245.827232.206216.090205.429188.204177.903166.854
8HSBC Bank Canada93.23494.56794.02488.20484.26080.71480.068
9Laurentian Bank of Canada46.68343.00639.66034.84933.92634.93728.963
10Canadian Western Bank26.44725.22322.83920.60918.52016.87314.849

Subsidiaries of Foreign Banks

AMEX Bank of Canada
Bank of China (Canada)
Bank One Canada (in liquidation)
BofA Canada Bank
Cidel Bank Canada
Citco Bank Canada
Citibank Canada
CTBC Bank Corp (Canada)
Habib Canadian Bank
HSBC Bank Canada
ICICI Bank Canada
Industrial & Commercial Bank of China (Canada)
J.P. Morgan Bank Canada
KEB Hana Bank Canada
Mega International Commercial Bank (Canada)
SBI Canada Bank
Shinhan Bank Canada
Societe Generale Canada
UBS Bank (Canada)
Walmart Canada Bank

Foreign Banks (Full Service Branches)

Bank of America, N.A.
Bank of China Limited
Bank of New York Mellon
Bank of Tokyo-Mitsubishi UFJ
Barclays Bank PLC (Canada Branch)
BNP Paribas
Capital One Bank (USA), N.A.
China Construction Bank (Toronto Branch)
Citibank, N.A.
Comerica Bank
Cooperatieve Rabobank U.A.
Deutsche Bank AG, Canada Branch
Fifth Third Bank
First Commercial Bank
JPMorgan Chase Bank, N.A.
M&T Bank
Maple Bank GmbH
Mega International Commercial Bank Co., Ltd.
Mizuho Bank, Ltd.
Northern Trust Company
PNC Bank, National Association
Société Générale (Canada Branch)
State Street Bank and Trust Company
Sumitomo Mitsui Banking Corporation
U.S. Bank National Association
UBS AG (Canada Branch)
United Overseas Bank Limited
Wells Fargo Bank, N.A.

Foreign Banks (only lending)

Crédit Agricole Corporate and Investment Bank
Credit Suisse AG
Natixis
MUFG Union Bank, N.A.

Источник: https://www.relbanks.com/canada

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Some people think banks just offer checking and savings accounts, but there are actually other types of bank accounts that financial institutions commonly offer.

There are lots of things you can do with your money: You could deposit all of it into a checking account so you can spend and make deposits easily and often; you could split your money among different types of accounts to earn interest or dividends from investments; or you could cash your paychecks and store your money under your mattress (we don’t recommend that last option).

Here are six common types of bank accounts and how to use them. Keep in mind that accounts can come with all sorts of fees, so be sure to read the fine print and do your homework before opening a new account.

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Bank accounts at a glance

Account typeWhy you might want it
Checking accountYou want unlimited access to your money and you’re not concerned with earning interest.
Savings accountYou don’t need constant access to this money and can afford to leave it in a secure account where it will earn nominal interest.
Money market accountYou want a blend between a checking and savings account and only need limited access to this money each month.
Certificate of deposit (CD)You want a secure way to invest your money for a set period of time.
Individual retirement arrangement (IRA)You want a tax-deductible or tax-deferred way to invest your money for retirement.
Brokerage accountYou want to invest your money but don’t want to be penalized for taking your money out before the age of 59½.

Checking accounts

Checking accounts allow you to have easy, day-to-day access to the money you deposit into them. There are usually no minimum account balances required — you just have to keep enough money in your account to cover your purchases. This is important to avoid overdrawing your account. Overdrawing your account means that you’ve spent more than you have in the checking account, and your bank pays the full amount of your purchase. When you overdraw your account, you almost always have to pay fees.

Savings accounts

Savings accounts allow you to earn interest on the money you deposit. But as the name suggests, these accounts are meant for saving money. So there is a restriction on the number of certain types of withdrawals or transfers you can make in a month and usually a daily minimum balance requirement. Earning interest sounds great — who wouldn’t want to earn money just for having money? Keep in mind, though, that the interest your account earns is considered income and is therefore taxable.

Money market accounts

A money market account is a cross between a savings and checking account. Banks typically offer a higher interest rate on money market accounts than on savings accounts, and can also give you limited monthly access to your money via checks and a debit card. You can only make up to six withdrawals or transfers of a certain type from a money market account per month — and, fortunately, just like savings accounts, neither ATM nor in-person withdrawals or transfers count toward the six-withdrawal limit. The interest rate you earn can depend on the amount you have deposited.

Certificates of deposit (CDs)

Certificates of deposit can be a low-risk way to invest your money for a specified period of time at either a fixed or variable interest rate. CDs are considered low risk because if you get one with a fixed interest rate, you’re guaranteed to earn that percentage rate on your deposit until your CD matures. Typically, CDs with longer periods offer higher interest rates. That means a CD that matures in five years will typically earn interest at a higher rate than a CD maturing in two years. CDs are often attractive savings tools because they typically earn higher interest rates than a traditional savings account. One thing to keep in mind is that CDs have early withdrawal fees. If you withdraw money from the CD before it matures, the fees can be expensive.

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Individual retirement arrangements (IRAs)

An individual retirement arrangement (also known as an individual retirement account) is a savings tool the IRS created as a way to give people an easy avenue to save for retirement. Contributions to IRAs are limited to $5,500 per year except if you are age 50 or older, at which point you can invest an additional $1,000 per year. Like other retirement accounts, such as a 401(k), deposits made into an IRA are intended to stay in the account until the account owner turns 59½ years of age. Early withdrawals typically trigger some sort of penalty.

There are two main types of IRAs: a Roth IRA and a traditional IRA.

Roth IRA

  • Deposits are made after taxes and are not tax-deductible.
  • There is no age limit on when you must start withdrawing the specified minimum amount from your account.

Traditional IRA

  • Contributions can be tax deductible.
  • Earnings are tax-deferred.
  • Your withdrawals will be taxed.

You are not allowed to make contributions starting the year you reach age 70½ and must begin withdrawing the required minimum amounts shortly thereafter.

Brokerage accounts

Brokerage accounts give you another way to invest your money. With a brokerage account, you can invest in stocks and bonds. You can earn money buying stocks if you sell them at a price that’s higher than when you bought them. You can also earn dividend payments, which is when a company distributes some of its earnings to shareholders.

Brokerage accounts are considered higher risk because the value of your stocks can go down, meaning that you could lose money if you sell them at that lower price. But brokerage accounts also have the greatest potential to grow over the long haul. So if you want to earn the most you can with your money and you can afford to take the risk, a brokerage account might be right for you.


Bottom line

Most banks offer a variety of accounts where you can put your money. Different account types help you achieve different goals, so it’s important to be clear about your needs and which bank accounts meet those needs.

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About the author: Lauren Hargrave is a writer from San Francisco who focuses on technology, finance and wellness. Her work has appeared on Forbes.com and in The Atlantic. Lauren holds a bachelor’s degree in political science from UC Sa… Read more.

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Источник: https://www.creditkarma.com/advice/i/types-of-accounts

Get Up to Speed on the Different Types of Banks

When you think of a bank, the first thing that comes to mind might be the institution that holds your checking or savings account. But there are several different types of banks, all serving different needs.

You might not have heard of all of these banks, but each example probably plays some part in your everyday life. Different banks specialize in distinct areas, which makes sense—you want your local bank to put everything they can into serving you and your community. Likewise, online banks can do their thing without the overhead of managing multiple branch locations.

Types of Banks

Some of the most common banks are listed below, but the dividing lines are not always clear. 

Some banks provide services in multiple areas. For example, a bank might offer personal accounts to consumers, merchant accounts for businesses, and even help large enterprises raise money in the financial markets.

  • Retail banks are probably the banks you’re most familiar with. Your checking and savings accounts are often kept with a retail bank, which focuses on consumers (or the general public) as customers. These banks offer loans and may provide credit cards, and they’re the ones with numerous branch locations in populated areas.
  • Commercial banks focus on business customers. Businesses need checking accounts just like individuals do. But they also need complex services, and the dollar amounts (and the number of transactions) can be substantial. Commercial banks, which are also called business banks or corporate banks, manage payments for customers, provide lines of credit to manage cash flow, and offer foreign exchange services for companies that do business overseas.
  • Investment banks help businesses raise capital in financial markets. If a company wants to go public or sell debt to investors, it often uses an investment bank. This kind of bank also may advise corporations on mergers and acquisitions.
  • Private banks provide services exclusively to wealthy clients, usually those with at least $1 million of net worth. They help clients manage their wealth, provide tax advice, and set up trusts to avoid taxes when leaving money to descendants.
  • Central banksmanage the monetary system for a government. For example, the Federal Reserve is the U.S. central bank responsible for supervising banks and setting monetary policy to control inflation, reduce unemployment, and provide for moderate lending rates.
  • Credit unions are similar to banks, but they are not-for-profit organizations owned by their customers. (Investors own most banks.) Credit unions offer products and services more or less identical to retail banks. The main difference is that credit union members share some characteristic in common—where they live, their occupation, or an organization they belong to, for example.
  • Online banks operate entirely online; there are no physical branch locations available to visit with a teller or personal banker. Many brick-and-mortar banks also offer online services, such as the ability to view accounts and pay bills online, but internet-only banks are different. Internet banks often offer competitive rates on savings accounts, and they’re especially likely to offer free checking. 
  • Mutual banks are similar to credit unions because they are owned by members (or customers) instead of outside investors. Also like credit unions, they tend to be active in only a single community.
  • Savings and loans are less prevalent than they used to be, but they are still important. This type of bank helped make homeownership mainstream, using savings deposits from customers to fund home loans. The name savings and loan is derived from that core activity. 

Non-Bank Lenders

Non-bank lenders are increasingly popular sources for loans. Technically, they’re not banks, but your experience as a borrower might be similar. You apply for a loan and repay it as if you were working with a bank.

These institutions specialize in lending, and they are not interested in all of the other activities and regulations that apply to traditional banks. Sometimes known as marketplace lenders, non-bank lenders obtain funding from investors—both individual investors and institutional investors.

For consumers shopping for loans, non-bank lenders are often attractive. They may use different approval criteria than traditional banks, and rates are often competitive. Peer-to-peer lenders are just one example of these marketplace lenders, and they can be an option whether you have high credit scores or you have fair credit.

Online lenders gained momentum with personal loans, but they offer other products as well. You can borrow for education, a home purchase or refinancing, and more.

Источник: https://www.thebalance.com/types-of-banks-315214

29 November 2021

SURVEY OF MONETARY ANALYSTS

ECB Survey of Monetary Analysts (SMA), December 2021

English

26 November 2021

WORKING PAPER SERIES - No. 2617

Markups and inflation cyclicality in the euro area

English

Abstract
Price inflation in the euro area has been stable and low since the Global Financial Crisis, despite notable changes in output and unemployment. We show that an increasing share of high markup firms is part of the explanation of why inflation remained stubbornly stable and low in the euro area over the past two decades. For this purpose, we exploit a rich firm-level database to show that over the period 1995–2018 the aggregate markup in the euro area has been on the rise, mainly on account of a reallocation towards high-markup firms. We document significant heterogeneity in markups across sectors and countries and, by linking these markup developments to the evolution of sectoral level producer and consumer price inflation, we find that (i) inflation in high-markup sectors tends to be less volatile than in low-markup sectors and (ii) inflation in high-markup sectors responds significantly less to oil supply, global demand and euro area monetary policy shocks.
JEL Code
D2 : Microeconomics→Production and Organizations
D4 : Microeconomics→Market Structure and Pricing
N1 : Economic History→Macroeconomics and Monetary Economics, Industrial Structure, Growth, Fluctuations
O3 : Economic Development, Technological Change, and Growth→Technological Change, Research and Development, Intellectual Property Rights
Network
Price Micro Setting Analysis Network (PRISMA)

25 November 2021

WORKING PAPER SERIES - No. 2616

Nowcasting euro area GDP with news sentiment: a tale of two crises

English

Abstract
This paper shows that newspaper articles contain timely economic signals that can materially improve nowcasts of real GDP growth for the euro area. Our text data is drawn from fifteen popular European newspapers, that collectively represent the four largest Euro area economies, and are machine translated into English. Daily sentiment metrics are created from these news articles and we assess their value for nowcasting. By comparing to competitive and rigorous benchmarks, we find that newspaper text is helpful in nowcasting GDP growth especially in the first half of the quarter when other lower-frequency soft indicators are not available. The choice of the sentiment measure matters when tracking economic shocks such as the Great Recession and the Great Lockdown. Non-linear machine learning models can help capture extreme movements in growth, but require sufficient training data in order to be effective so become more useful later in our sample.
JEL Code
C43 : Mathematical and Quantitative Methods→Econometric and Statistical Methods: Special Topics→Index Numbers and Aggregation
C45 : Mathematical and Quantitative Methods→Econometric and Statistical Methods: Special Topics→Neural Networks and Related Topics
C55 : Mathematical and Quantitative Methods→Econometric Modeling→Modeling with Large Data Sets?
C82 : Mathematical and Quantitative Methods→Data Collection and Data Estimation Methodology, Computer Programs→Methodology for Collecting, Estimating, and Organizing Macroeconomic Data, Data Access
E37 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Forecasting and Simulation: Models and Applications

25 November 2021

WORKING PAPER SERIES - No. 2615

Quantitative easing and corporate innovation

English

Abstract
To what extent can Quantitative Easing impact productivity growth? We document a strong and heterogeneous response of corporate R&D investment to changes in debt financing conditions induced by corporate debt purchases under the ECB’s Corporate Sector Purchase Program. Companies eligible for the program increase significantly their investment in R&D, relative to similar ineligible companies operating in the same country and sector. The evidence further suggests that by subsidizing the cost of debt, corporate bond purchases by the central bank stimulate innovation through a wealth transfer to innovative companies with low debt levels, rather than by supporting credit constrained firms.
JEL Code
E5 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit
G10 : Financial Economics→General Financial Markets→General
O3 : Economic Development, Technological Change, and Growth→Technological Change, Research and Development, Intellectual Property Rights

24 November 2021

OCCASIONAL PAPER SERIES - No. 285

To be or not to be “green”: how can monetary policy react to climate change?

English

Abstract
Climate change has profound effects not only for societies and economies, but also for central banks’ ability to deliver price stability in the future. This paper starts by documenting why climate change matters for monetary policy: it impacts the economic variables relevant to setting the monetary policy stance, it interacts with fiscal and structural responses and it can generate dislocations in financial markets, which are impossible for monetary policy to ignore. Next, we survey several possible ways central banks can respond to climate change. These range from protective actions to more proactive measures aimed at mitigating climate change and supporting green finance and the transition to sustainable growth. We also discuss the constraints and trade-offs faced by central banks as they respond to climate risks. Finally, focusing on the specific challenges faced by inflation-targeting central banks, we consider how certain design features of this regime might interact with, and evolve in response to, the climate challenge.
JEL Code
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
Q54 : Agricultural and Natural Resource Economics, Environmental and Ecological Economics→Environmental Economics→Climate, Natural Disasters, Global Warming

24 November 2021

SURVEY ON THE ACCESS TO FINANCE OF ENTERPRISES IN THE EURO AREA

Survey on the Access to Finance of Enterprises in the euro area - April to September 2021

English

English

24 November 2021

RESEARCH BULLETIN - No. 89

Bank leverage constraints and bond market illiquidity during the COVID-19 crisis

English

English

Abstract
The outbreak of the coronavirus (COVID-19) pandemic led to heightened uncertainty and a “dash-for-cash” in March 2020. Investors moved out of risky assets and into safe assets. The mutual fund sector in particular was hit by unprecedented investor redemptions and faced fire sale pressure as a result. Typically, banks that engage in securities trading – dealer banks – absorb such bond sales, supporting market liquidity, but regulation may limit their ability to do so by requiring them to maintain a certain leverage ratio. In recent research, we analyse the role of bank leverage constraints as an amplifier of bond market illiquidity during the March 2020 crisis. Our analysis links mutual funds bond holdings to dealer banks and their leverage constraints. We document that mutual funds that were holding more bonds exposed to dealer bank constraints in their portfolio faced bigger selling pressure in March 2020. We provide supplementary evidence that bank leverage constraints affect bond liquidity, using the introduction of leverage ratio regulation in the euro area.
JEL Code
G12 : Financial Economics→General Financial Markets→Asset Pricing, Trading Volume, Bond Interest Rates
G18 : Financial Economics→General Financial Markets→Government Policy and Regulation
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages

22 November 2021

WORKING PAPER SERIES - No. 2614

Credit growth, the yield curve and financial crisis prediction: evidence from a machine learning approach

English

Abstract
We develop early warning models for financial crisis prediction by applying machine learning techniques to macrofinancial data for 17 countries over 1870–2016. Most nonlin-ear machine learning models outperform logistic regression in out-of-sample predictions and forecasting. We identify economic drivers of our machine learning models using a novel framework based on Shapley values, uncovering nonlinear relationships between the predic-tors and crisis risk. Throughout, the most important predictors are credit growth and the slope of the yield curve, both domestically and globally. A flat or inverted yield curve is of most concern when nominal interest rates are low and credit growth is high.
JEL Code
C40 : Mathematical and Quantitative Methods→Econometric and Statistical Methods: Special Topics→General
C53 : Mathematical and Quantitative Methods→Econometric Modeling→Forecasting and Prediction Methods, Simulation Methods
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
F30 : International Economics→International Finance→General
G01 : Financial Economics→General→Financial Crises

19 November 2021

WORKING PAPER SERIES - No. 2613

What goes around comes around: How large are spillbacks from US monetary policy?

English

Abstract
We quantify spillbacks from US monetary policy based on structural scenario analysis and minimum relative entropy methods applied in a Bayesian proxy structural vector-autoregressive model estimated on data for the time period from 1990 to 2019. We find that spillbacks account for a non-trivial share of the overall slowdown in domestic real activity in response to a contractionary US monetary policy shock. Our analysis suggests that spillbacks materialise as Tobin’s q/cash flow and stock market wealth effects impinge on US investment and consumption. Contractionary US monetary policy depresses foreign sales of US firms, which reduces their valuations/cash flows and thereby induces cutbacks in investment. Similarly, as contractionary US monetary policy depresses US and foreign equity prices, the value of US households’ portfolios is reduced, which triggers a drop in consumption. Net trade does not contribute to spillbacks because US monetary policy affects exports and imports similarly. Finally, spillbacks materialise through advanced rather than emerging market economies, consistent with their relative importance in US firms’ foreign demand and US foreign equity holdings.
JEL Code
F42 : International Economics→Macroeconomic Aspects of International Trade and Finance→International Policy Coordination and Transmission
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
C50 : Mathematical and Quantitative Methods→Econometric Modeling→General

18 November 2021

WORKING PAPER SERIES - No. 2612

Natural rate chimera and bond pricing reality

English

Abstract
We build a novel macro-finance model that combines a semi-structural macroeconomic module with arbitrage-free yield-curve dynamics. We estimate it for the United States and the euro area using a Bayesian approach and jointly infer the real equilibrium interest rate (r*), trend inflation (π*), and term premia. Similar to Bauer and Rudebusch (2020, AER), π* and r* constitute a time-varying trend for the nominal short-term rate in our model, rendering estimated term premia more stable than standard yield curve models operating with time-invariant means. In line with the literature, our r* estimates display a distinct decline over the last four decades.
JEL Code
C11 : Mathematical and Quantitative Methods→Econometric and Statistical Methods and Methodology: General→Bayesian Analysis: General
C32 : Mathematical and Quantitative Methods→Multiple or Simultaneous Equation Models, Multiple Variables→Time-Series Models, Dynamic Quantile Regressions, Dynamic Treatment Effect Models, Diffusion Processes
E43 : Macroeconomics and Monetary Economics→Money and Interest Rates→Interest Rates: Determination, Term Structure, and Effects
G12 : Financial Economics→General Financial Markets→Asset Pricing, Trading Volume, Bond Interest Rates
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy

17 November 2021

FINANCIAL STABILITY REVIEW

Financial Stability Review, November 2021

English

English

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Sustainability of recent euro area investment banking strength and debt capital market intermediation

Financial Stability Review Issue 2, 2021

English

Abstract
Investment banking revenues have contributed markedly to the recent increase in euro area banks’ non-interest income growth and the rebound in bank profitability. Internationally, equity capital market (ECM) revenue has doubled in the last three years, while debt capital market (DCM) and merger and acquisition (M&A) revenue has increased by around 50%, with only syndicated lending remaining more subdued. In the euro area, however, the most significant volume increase has come from debt instruments, which have long been the preferred source of corporate funding in the euro area ahead of equity. Despite the international growth in capital market volumes, market commentary before the pandemic suggested that investment banking was the “problem child” of European banking, with many large banks retreating from various market segments as they faced the fallout from the global financial crisis. Against this background, this box considers the recent developments in investment banking of euro area banks in relation to some of the prior trends and considers how sustainable the recent strength might be.
JEL Code
G12 : Financial Economics→General Financial Markets→Asset Pricing, Trading Volume, Bond Interest Rates
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G24 : Financial Economics→Financial Institutions and Services→Investment Banking, Venture Capital, Brokerage, Ratings and Ratings Agencies
:

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Lessons learned from initial margin calls during the March 2020 market turmoil

Financial Stability Review Issue 2, 2021

English

Abstract
This box establishes stylised facts about the significant increase in initial margin (IM) in the euro area derivatives market during the March 2020 market turmoil. First, it shows that the increase was concentrated almost entirely in centrally cleared derivatives and driven mainly by equity, credit and interest rate portfolios. Second, by comparing static portfolios with those where portfolio repositioning took place, the IM increase is decomposed into (i) changes attributable to the CCP model sensitivity to market volatility, and (ii) changes attributable to portfolio repositioning by investors. For centrally cleared interest rate and credit derivatives (where this method is applicable), CCP model sensitivity to market volatility is found to be a key driver of the IM increase. Overall, the results suggest that it is important to develop a clearer understanding of “excessive procyclicality” for IM and possibly, on the basis of this common understanding, to review the models which CCPs use to calibrate IMs. The supervisory and regulatory framework governing the liquidity management of market participants, and in particular that of some non-bank financial intermediaries, should also be strengthened.
JEL Code
C60 : Mathematical and Quantitative Methods→Mathematical Methods, Programming Models, Mathematical and Simulation Modeling→General
G10 : Financial Economics→General Financial Markets→General
G13 : Financial Economics→General Financial Markets→Contingent Pricing, Futures Pricing

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

The role of financial stability in the ECB’s new monetary policy strategy

Financial Stability Review Issue 2, 2021

English

Abstract
The box reviews the role of financial stability in the ECB’s new monetary policy strategy and summarises the underlying analytical considerations. Financial stability is a precondition for price stability and vice versa. Accordingly, the pursuit of price stability by means of monetary policy, and of financial stability by means of macro-prudential, supervisory and regulatory policies, are complementary. For example, a build-up of financial imbalances increases the likelihood of future financial crises, with a negative impact on price stability. Addressing these vulnerabilities with adequate marcro-prudential measures is also beneficial for price stability. Similarly, monetary policy may also affect financial stability risks: it can reduce credit risk by boosting activity levels and inflation dynamics but at times may also encourage the build-up of leverage or raise the sensitivity of asset prices. In view of the price stability risks arising in financial crises, there is a clear conceptual case for the ECB to take financial stability considerations into account in its monetary policy deliberations. This does not imply that monetary policy is responsible for guaranteeing financial stability or lessen the role of macro-prudential policies as a first line of defence against financial vulnerabilities. Accordingly, the ECB’s new monetary policy strategy envisages a flexible approach in considering financial stability whenever this is relevant to the pursuit of price stability.
JEL Code
E3, E44, G01, G21 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Assessing the strength of the recent residential real estate expansion

Financial Stability Review Issue 2, 2021

English

Abstract
In order to assess the strength of the current residential real estate expansion, we compare recent developments in euro area housing markets with the period ahead of the global financial crisis (GFC). We find that house price dynamics, overvaluation and the risk profile of new mortgage loans are at similar levels to those observed during the height of the pre-GFC cycle in 2007. However, vulnerabilities from mortgage lending developments and household balance sheets are currently below their pre-GFC levels. We conclude that the continued build-up of vulnerabilities in residential real estate markets calls for close monitoring and possible macroprudential measures.
JEL Code
R31 : Urban, Rural, Regional, Real Estate, and Transportation Economics→Real Estate Markets, Spatial Production Analysis, and Firm Location→Housing Supply and Markets
G51 : Financial Economics
P34 : Economic Systems→Socialist Institutions and Their Transitions→Financial Economics
G01 : Financial Economics→General→Financial Crises

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

The impact of loan and market-based credit supply shocks on euro area GDP growth

Financial Stability Review Issue 2, 2021

English

Abstract
Using a Bayesian vector autoregression model and drawing from a novel quarterly dataset on debt financing of non-financial corporations, this box estimates the effects of loan and market-based credit supply shocks on GDP growth in the euro area and the five largest euro area countries. A novel identification scheme with inequality restrictions is developed to distinguish between the two types of credit supply shock. The results suggest that not only loan supply but also market-based credit supply shocks play an important role for GDP growth. For the euro area as a whole, the explanatory power of both types of credit supply shock is found to be similar, while in Germany and France the explanatory power of market-based credit supply shocks exceeds that of loan supply shocks. Since market-based credit is mostly provided by non-bank financial intermediaries, the findings also suggest that strengthening the resilience of these intermediaries – such as through an enhanced macroprudential framework – would support GDP growth.
JEL Code
C32 : Mathematical and Quantitative Methods→Multiple or Simultaneous Equation Models, Multiple Variables→Time-Series Models, Dynamic Quantile Regressions, Dynamic Treatment Effect Models, Diffusion Processes
E32 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Business Fluctuations, Cycles
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E51 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Money Supply, Credit, Money Multipliers
G2 : Financial Economics→Financial Institutions and Services

17 November 2021

FINANCIAL STABILITY REVIEW - ARTICLE

Creditor coordination in resolving non-performing corporate loans

Financial Stability Review Issue 2, 2021

English

Abstract
Numerous European and national initiatives have been deployed since 2014 to reduce non-performing loan (NPL) stocks on euro area bank balance sheets. NPL ratios have fallen as a result, but very gradually, mainly thanks to sales to non-bank investors. Despite stronger market activity, prices paid by NPL investors have only improved marginally and continue to stand well below values assigned to NPLs by banks. One type of NPL that has proven particularly difficult to resolve is loans to non-financial firms that have borrowed from multiple banks – multi-creditor loans. Analysis of these loans relative to others finds lower provision coverage by the lending banks, reflecting more optimistic valuations by individual banks and limited recognition of the expected costs of multi-creditor coordination. This special feature proposes a strategy to overcome creditor coordination failures and costs, through the use of data platforms providing ex ante transparency to NPL investors. These, together with NPL securitisation, could substantially reduce the gap between the value of the loans booked on banks’ balance sheets and the prices offered by investors for NPL portfolios.
JEL Code
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G32 : Financial Economics→Corporate Finance and Governance→Financing Policy, Financial Risk and Risk Management, Capital and Ownership Structure, Value of Firms, Goodwill

17 November 2021

FINANCIAL STABILITY REVIEW - ARTICLE

Bank capital buffers and lending in the euro area during the pandemic

Financial Stability Review Issue 2, 2021

English

Abstract
Bank capital buffers are supposed to help banks to absorb losses while maintaining the provision of key financial services to the real economy in times of stress. Capital buffers that are usable along these lines should lessen the damaging effects that can arise from credit supply shortages. Making use of buffers entails using the capital space above regulatory buffers and minimum requirements and, in case of need, also using regulatory buffers. This special feature analyses bank lending behaviour during the pandemic to gain insights into banks’ propensity to use capital buffers and the impact of the regulatory capital relief measures implemented by the authorities. From a macro perspective, the euro area banking system was able to meet credit demand and withstand stress. However, this aggregate view reflects several factors, including the impact of extraordinary policy measures. A micro perspective thus can help to comprehend how the capital buffer framework and capital releases affected banks’ behaviour during the pandemic. A microeconometric analysis shows that the banks with limited capital space above regulatory buffers adjusted their balance sheets by reducing lending, which could be interpreted as an attempt to defend capital ratios, suggesting unwillingness to use capital buffers. The results also show that the regulatory capital relief measures adopted during in the pandemic, which added to banks’ existing capital space, were associated with higher credit supply. while more research is desirable, this suggests that more releasable capital could enhance macroprudential authorities’ ability to act countercyclically when a crisis occurs.
JEL Code
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E41 : Macroeconomics and Monetary Economics→Money and Interest Rates→Demand for Money

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Sensitivity of sovereign debt in the euro area to an interest rate-growth differential shock

Financial Stability Review Issue 2, 2021

English

Abstract
Euro area sovereigns have issued significant amounts of new debt in response to the pandemic. While fiscal support was crucial to limit economic scarring and aid the recovery, it has also triggered concerns about medium to longer-term sovereign debt sustainability. One of the key factors for assessing sovereign debt sustainability is the interest rate-growth differential (
JEL Code
E43 : Macroeconomics and Monetary Economics→Money and Interest Rates→Interest Rates: Determination, Term Structure, and Effects
E6 : Macroeconomics and Monetary Economics→Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
H62 : Public Economics→National Budget, Deficit, and Debt→Deficit, Surplus
H63 : Public Economics→National Budget, Deficit, and Debt→Debt, Debt Management, Sovereign Debt
H68 : Public Economics→National Budget, Deficit, and Debt→Forecasts of Budgets, Deficits, and Debt

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

ECB macroprudential stress test complements the EBA/SSM stress tests results in 2021

Financial Stability Review Issue 2, 2021

English

Abstract
The ECB’s biennial macroprudential stress test evaluates the resilience of the euro area banking system, this year also assessing the impact of pandemic-related policy measures. While relying on the same adverse and baseline scenarios as the EBA/SSM supervisory stress test, it also employs a dynamic balance sheet perspective and introduces amplification mechanisms relying on the banking euro area stress test model framework as outlined in Budnik et al. (2020). The results indicate a strong bank capitalisation under the baseline scenario combined with a subdued outlook for bank profitability. The lending outlook differs sharply for the two scenarios where policy support measures have a clear positive effect, especially in the adverse scenario, and have helped to ensure the resilience of the financial system.
JEL Code
E37 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Forecasting and Simulation: Models and Applications
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G28 : Financial Economics→Financial Institutions and Services→Government Policy and Regulation
Источник: https://www.ecb.europa.eu/

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Welcome to TD Bank Personal Banking

Community means family.

I think that's what it's turned into.

I'm going to cry.

I don't know why.

Alright, your turn to talk.

Hey everybody.

Sam from Bonn Place Brewing Company here, and this is my wife.

I'm Gina.

Bethlehem is one of the greatest steel towns in America.

When manufacturing had a downturn Bethlehem had to reinvent itself.

When I first met Sam and Gina, they had this dream that they wanted to accomplish.

When we first signed our lease on this building, people were questioning it, like "you sure you want to open a brewery on the south side of Bethlehem in the current climate?"

We were certain that it was ready for what we wanted to do.

We needed a bit of help to get this place opened...and everybody needs help.

When anybody ever comes to us and says, "We need help. What can we do? We don't know how to get through this red tape."

We say, "This is what we did. This might help you."

We even went to City Hall for someone once.

This is the community we can change.

What we can change is right here and right now.

Sam and Gina are very passionate about working with women entrepreneurs.

It's hard to start a business.

One thing Sam and Gina have been able to achieve is share the lessons they've learned with other business owners and convince them, "hey, it actually is possible."

We want to see businesses succeed with the opportunities that we've had.

So what better way than to mentor them.

We're all in this together, and it's the bigger picture.

Bonn Place is a catalyst for the regrowth of this community.

They're also now helping other young entrepreneurs get started.

Sam and Gina sat down with us and gave us tips and tricks of what to do to get started.

We had this idea.

And they believe in us.

How much they're committed to the growth of Bethlehem as a whole.

That's the real story.

[Applause]

They are the last two people who would want this bestowed upon them, but they are the most deserving.

So we all want to gather here today and say thank you, because we value everything that you put into Bethlehem.

There's a little bit more.

So, the contribution we made to a female entrepreneurship program, in your name.

We're absolutely thrilled.

Next year, with this gift, we're going to be able to serve even more women entrepreneurs.

The integrity of this community is real strong.

This is just the beginning.

Источник: https://www.td.com/us/en/personal-banking/

List of largest banks in the United States

Rank Bank name Headquarters location Total assets
(billions of US$)[2][3][4]Market capitalization
(billions of US$)[5]1 JPMorgan ChaseNew York City, New York$3,684 $387.49 2 Bank of AmericaCharlotte, North Carolina$3,029 $325.33 3 CitigroupNew York City, New York$2,327 $203.16 4 Wells FargoSan Francisco, California$1,945 $308.01 5 Goldman SachsNew York City, New York$1,387 $100.70 6 Morgan StanleyNew York City, New York$1,161 $99.65 7 Charles Schwab CorporationWestlake, Texas$574 $105.62 8 U.S. BancorpMinneapolis, Minnesota$558 $68.08 9 PNC Financial ServicesPittsburgh, Pennsylvania$554 $68.08 10 Truist FinancialCharlotte, North Carolina$521 $84.69 11 TD Bank, N.A.Cherry Hill, New Jersey$514 $105.70 12 The Bank of New York MellonNew York City, New York$466 $36.66 13 Capital OneMcLean, Virginia$421 $45.71 14 TIAANew York City, New York$326 N/A 15 State Street CorporationBoston, Massachusetts$314 $25.65 16 HSBC Bank USANew York City, New York$241 N/A 17 Fifth Third BankCincinnati, Ohio$204 $21.21 18 USAASan Antonio, Texas$200 N/A 19 State FarmBloomington, Illinois$193 N/A 20 American ExpressNew York City, New York$191 $93.52 21 BMO Harris BankChicago, Illinois$184 N/A 22 Citizens Financial GroupProvidence, Rhode Island$183 $15.83 23 Ally FinancialDetroit, Michigan$182 $14.49 24 KeyCorpNiagara Falls, New York$171 $17.04 25 UBSNew York City, New York$172 $53.83 26 BNP Paribas / Bank of the WestSan Francisco, California$135 27 Northern TrustChicago, Illinois$170 $19.50 28 MUFG Union BankNew York City, New York$167 N/A 29 AmeripriseMinneapolis, Minnesota$165 $22.66 30 BarclaysNew York City, New York$161 N/A 31 RBC BankToronto, Ontario$150 N/A 32 Santander BankBoston, Massachusetts$149 N/A 33 Regions Financial CorporationBirmingham, Alabama$147 $17.05 34 M&T BankBuffalo, New York$142 $17.61 35 Huntington BancsharesColumbus, Ohio$175 N/A 36 Credit SuisseNew York City, New York$118 N/A 37 SVB Financial GroupSanta Clara, California$116 $26.65 38 Discover FinancialRiverwoods, Illinois$112 $26.65 39 Deutsche BankNew York City, New York$109 N/A 40 Synchrony FinancialStamford, Connecticut$95 $20.66 City National BankLos Angeles, CA$90 N/A 41 ComericaDallas, Texas$88 $8.37 42 First Horizon National CorporationMemphis, Tennessee$84 $7.78 43 Popular, Inc.San Juan, Puerto Rico$65 $4.85 44 People's United FinancialBridgeport, Connecticut$63 $6.14 45 CIT GroupNew York City, New York$58 $3.79 46 CIBC Bank USAChicago, Illinois$56.758 N/A 47 New York Community BankWestbury, New York$56.306 $5.09 48 SynovusColumbus, Georgia$54 $5.59 49 Raymond James FinancialSt. Petersburg, Florida$53 $13.58 50 East West BankPasadena, California$52 $8.61 51 First Citizens BancSharesRaleigh, North Carolina$49 $5.92 52 BOK Financial CorporationTulsa, Oklahoma$46 $5.41 53 Mizuho Financial GroupNew York City, New York$45.621 N/A 54 Wintrust FinancialRosemont, Illinois$45.080 $3.63 55 Cullen/Frost Bankers, Inc.San Antonio, Texas$42 N/A 56 Valley National BankWayne, New Jersey$40.686 $4.34 57 John Deere Capital CorporationReno, Nevada$40.126 $4.34 58 South State BankWinter Haven, Florida$37.789 $4.34 59 Texas Capital BankDallas, Texas$37.726 $3.21 60 FNB CorporationPittsburgh, Pennsylvania$37 $3.30 61 Western Alliance BankPhoenix, Arizona$36 $7.01 62 BankUnitedMiami Lakes, Florida$35 $3.32 63 Pinnacle Financial PartnersNashville, Tennessee$34.932 $5.54 64 Prosperity BancsharesHouston, Texas$34.081 $6.34 65 Hancock WhitneyGulfport, Mississippi$33.640 $3.16 66 Associated Banc-CorpGreen Bay, Wisconsin$33.419 $2.89 67 UMB Financial CorporationKansas City, Missouri$33.127 $3.46 68 Commerce BancsharesKansas City, Missouri$32.942 $8.20 69 Webster BankWaterbury, Connecticut$32.639 $4.54 70 Flagstar BankTroy, Michigan$31 $2.48 71 Sterling BancorpMontebello, New York$29.820 $3.73 72 MidFirst BankOklahoma City, Oklahoma$29.640 $3.66 73 PacWest BancorpLos Angeles, California$29.498 $3.66 74 Umpqua Holdings CorporationPortland, Oregon$29.235 $3.41 75 StifelSt. Louis, Missouri$26.604 $5.30 76 United Bank (West Virginia)Charleston, West Virginia$26.184 $4.35 77 Investors BankShort Hills, New Jersey$26.042 $2.88 78 Fulton Financial CorporationLancaster, Pennsylvania$25.874 $2.31 79 First National of NebraskaOmaha, Nebraska$24.817 N/A 80 FirstBank Holding CoLakewood, Colorado$24.470 N/A 81 Arvest BankBentonville, Arkansas$24.390 N/A 82 Old National BankEvansville, Indiana$22.960 $2.90 83 First Hawaiian BankHonolulu, Hawaii$22.662 $3.13 84 Simmons BankPine Bluff, Arkansas$22.366 $2.79 85 SMBC Americas Holdings Inc.New York City$22.053 86 First Midwest BankChicago, Illinois$20.838 $1.99 87 Bank of HawaiiHonolulu, Hawaii$20.603 $3.24 88 Ameris BancorpAtlanta, Georgia$20.438 89 Pacific Premier Bancorp Inc. Irvine, California$19.736 90 Atlantic Union BankRichmond, Virginia$19.636 N/A 91 Macy'sNew York City, New York$19.213 $4.92 92 EB Acquisition Company LLCDallas, Texas$19.142 93 EB Acquisition Company II LLCDallas, Texas$19.142 94 Washington FederalSeattle, Washington$19.063 $2.11 95 Cathay BankLos Angeles, California$19.043 $2.88 96 First BanCorpSan Juan, Puerto Rico$18.793 $2.98 97 Cadence BankAtlanta, Georgia$18.712 N/A 98 BCI Financial Group, Inc.Miami, Florida$18.622 99 Glacier Bancorp, Inc Kalispell, Montana$18.504 100 Customers Bancorp, Inc. Wyomissing, Pennsylvania$18.439
Источник: https://en.wikipedia.org/wiki/List_of_largest_banks_in_the_United_States

29 November 2021

SURVEY OF MONETARY ANALYSTS

ECB Survey of Monetary Analysts (SMA), December 2021

English

26 November 2021

WORKING PAPER SERIES - No. 2617

Markups and inflation cyclicality in the euro how does a capital one secured mastercard work inflation in the euro area has been stable and low since the Global Financial Crisis, despite notable changes in output and unemployment. We show that an increasing share of high markup firms is part of the explanation of why inflation remained stubbornly stable and low in the euro area over the past two decades. For this purpose, we exploit a rich firm-level database to show that over the period 1995–2018 the aggregate markup in the euro area has been on the rise, mainly on account of a reallocation towards high-markup firms. We document significant heterogeneity in markups across sectors and countries and, by linking these markup developments to the evolution of sectoral level producer and consumer price inflation, we find that (i) inflation in high-markup sectors tends to be less volatile than in low-markup sectors and (ii) inflation in high-markup sectors responds significantly less to oil supply, global demand and euro area monetary policy shocks.

JEL Code
D2 : Microeconomics→Production and Organizations
D4 : Microeconomics→Market Structure and Pricing
N1 : Economic History→Macroeconomics and Monetary Economics, Industrial Structure, Growth, Fluctuations
O3 : Economic Development, Technological Change, and Growth→Technological Change, Research and Development, Intellectual Property Rights
Network
Price Micro Setting Analysis Network (PRISMA)

25 November 2021

WORKING PAPER SERIES - No. 2616

Nowcasting euro area GDP with news sentiment: a tale of two crises

English

Abstract
This paper shows that newspaper articles contain timely economic signals that can materially improve nowcasts of real GDP growth for the euro area. Our text data is drawn from fifteen popular European newspapers, that collectively represent the four largest Euro area economies, and are machine translated into English. Daily sentiment metrics are created from these news articles and we assess their value for nowcasting. By comparing to competitive and rigorous benchmarks, we find that newspaper text is helpful in nowcasting GDP growth especially in the first half of the quarter when other lower-frequency soft indicators are not available. The choice of the sentiment measure matters when tracking economic shocks such as the Great Recession and the Great Lockdown. Non-linear machine learning models can help capture extreme movements in growth, but require sufficient training data in order to be effective so become more useful later in our sample.
JEL Code
C43 : Mathematical and Quantitative Methods→Econometric and Statistical Methods: Special Topics→Index Numbers and Aggregation
C45 : Mathematical and Quantitative Methods→Econometric and Statistical Methods: Special Topics→Neural Networks and Related Topics
C55 : Mathematical and Quantitative Methods→Econometric Modeling→Modeling with Large Data Sets?
C82 : Mathematical and Quantitative Methods→Data Collection and Data Estimation Methodology, Computer Programs→Methodology for Collecting, Estimating, and Organizing Macroeconomic Data, Data Access
E37 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Forecasting and Simulation: Models and Applications

25 November 2021

WORKING PAPER SERIES - No. 2615

Quantitative easing and corporate innovation

English

Abstract
To what extent can Quantitative Easing impact productivity growth? We document a strong and heterogeneous response of corporate R&D investment to changes in debt financing conditions induced by corporate debt purchases under the ECB’s Corporate Sector Purchase Program. Companies eligible for the program increase significantly their investment in R&D, relative to similar ineligible companies operating in the same country and sector. The evidence further suggests that by subsidizing the cost state farm bank interest rates debt, corporate bond purchases by the central bank stimulate innovation through a wealth transfer to innovative companies with low debt levels, rather than by supporting credit constrained firms.
JEL Code
E5 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit
G10 : Financial Economics→General Financial Markets→General
O3 : Economic Development, Technological Change, and Growth→Technological Change, Research and Development, Intellectual Property Rights

24 November 2021

OCCASIONAL PAPER SERIES - No. 285

To be or not to be “green”: how can monetary policy react to climate change?

English

Abstract
Climate change has profound effects not only for societies and economies, but also for central banks’ ability to deliver price stability in the future. This paper starts by documenting why climate change matters for monetary policy: it impacts the economic variables relevant to setting the monetary policy stance, it interacts with fiscal and structural responses and it can generate dislocations in financial markets, which are impossible for monetary policy to ignore. Next, we survey several possible ways central banks can respond to climate change. These range from protective actions to more proactive measures aimed at mitigating climate change and supporting green finance and the transition to sustainable growth. We also discuss the constraints and trade-offs faced by central banks as they respond to climate risks. Finally, focusing on the specific challenges faced by inflation-targeting central banks, we consider how certain design features of this regime might interact with, and evolve in response to, the climate challenge.
JEL Code
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
Q54 : Agricultural and Natural Resource Economics, Environmental and Ecological Economics→Environmental Economics→Climate, Natural Disasters, Global Warming

24 November 2021

SURVEY ON THE ACCESS TO FINANCE OF ENTERPRISES IN THE EURO AREA

Survey on the Access to Finance of Enterprises in the euro area - April to September 2021

English

English

24 November 2021

RESEARCH BULLETIN - No. 89

Bank leverage constraints and bond market illiquidity during the COVID-19 crisis

English

English

Abstract
The outbreak of the coronavirus (COVID-19) pandemic led to heightened uncertainty and a “dash-for-cash” in March 2020. Investors moved out of risky assets and into safe assets. The mutual fund sector in particular was hit by unprecedented investor redemptions and faced fire sale pressure as a result. Typically, banks that engage in securities trading – dealer banks – absorb such bond sales, supporting market liquidity, but regulation different banks names limit their ability to do so by requiring them to maintain a certain leverage ratio. In recent research, we analyse the role of bank leverage constraints as an amplifier of bond market illiquidity during the March 2020 crisis. Our analysis links mutual funds bond holdings to dealer banks and their leverage constraints. We document that mutual funds that were holding more bonds exposed to dealer bank constraints in their portfolio faced bigger selling pressure in March 2020. We provide supplementary evidence that bank leverage constraints affect bond liquidity, using the introduction of leverage ratio regulation in the euro area.
JEL Code
G12 : Financial Economics→General Financial Markets→Asset Pricing, Trading Volume, Bond Interest Rates
G18 : Financial Economics→General Financial Markets→Government Policy and Regulation
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages

22 November 2021

WORKING PAPER SERIES - No. 2614

Credit growth, the yield curve and financial crisis prediction: evidence from a machine learning approach

English

Abstract
We develop early warning models for financial crisis prediction by applying machine learning techniques to macrofinancial data for 17 countries over 1870–2016. Most nonlin-ear machine learning models outperform logistic regression in out-of-sample predictions and forecasting. We identify economic drivers of our machine learning models using a novel framework based on Shapley values, uncovering nonlinear relationships between the predic-tors and crisis risk. Throughout, the most important predictors are credit growth and the slope of the yield curve, both domestically and globally. A flat or inverted yield curve is of most concern when nominal interest rates are low and credit growth is high.
JEL Code
C40 : Mathematical and Quantitative Methods→Econometric and Statistical Methods: Special Topics→General
C53 : Mathematical and Quantitative Methods→Econometric Modeling→Forecasting and Prediction Methods, Simulation Methods
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
F30 : International Economics→International Finance→General
G01 : Financial Economics→General→Financial Crises

19 November 2021

WORKING PAPER SERIES - No. 2613

What goes around comes around: How large are spillbacks from US monetary policy?

English

Abstract
We quantify spillbacks from US monetary policy based on structural scenario analysis and minimum relative entropy methods applied in a Bayesian proxy structural vector-autoregressive model estimated on data for the time period from 1990 to 2019. We find that spillbacks account for a non-trivial share of the overall slowdown in domestic real activity in response to a contractionary US monetary policy shock. Our analysis suggests that spillbacks materialise as Tobin’s q/cash flow and stock market wealth effects impinge on US investment and consumption. Contractionary US monetary policy depresses foreign sales of US firms, which reduces their valuations/cash flows and thereby induces cutbacks in investment. Similarly, as contractionary US monetary policy depresses US and foreign equity prices, the value of US households’ portfolios is reduced, which triggers a drop in consumption. Net trade does not contribute to spillbacks because US monetary policy affects exports and imports similarly. Finally, spillbacks materialise through advanced rather than emerging market economies, consistent with their relative importance in US firms’ foreign demand and US foreign equity holdings.
JEL Code
F42 : International Economics→Macroeconomic Aspects of International Trade and Finance→International Policy Coordination and Transmission
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
C50 : Mathematical and Quantitative Methods→Econometric Modeling→General

18 November 2021

WORKING PAPER SERIES - No. 2612

Natural rate chimera and bond pricing reality

English

Abstract
We build a novel macro-finance model that combines a semi-structural macroeconomic module with arbitrage-free yield-curve dynamics. We estimate it for the United States and the euro area using a Bayesian approach and jointly infer the real equilibrium interest rate (r*), trend inflation (π*), and term premia. Similar to Bauer and Rudebusch (2020, AER), π* and r* constitute a time-varying trend for the nominal short-term rate in our model, rendering estimated term premia more stable than standard yield curve models operating with time-invariant means. In line with the literature, our r* estimates display a distinct decline over the last four decades.
JEL Code
C11 : Mathematical and Quantitative Methods→Econometric and Statistical Methods and Methodology: General→Bayesian Analysis: General
C32 : Mathematical and Quantitative Methods→Multiple or Simultaneous Equation Models, Multiple Variables→Time-Series Models, Dynamic Quantile Regressions, Dynamic Treatment Effect Models, Diffusion Processes
E43 : Macroeconomics and Monetary Economics→Money and Interest Rates→Interest Rates: Determination, Term Structure, and Effects
G12 : Financial Economics→General Financial Markets→Asset Pricing, Trading Volume, Bond Interest Rates
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy

17 November 2021

FINANCIAL STABILITY REVIEW

Financial Stability Review, November 2021

English

English

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Sustainability of recent euro area investment banking strength and debt capital market intermediation

Financial Stability Review Issue 2, 2021

English

Abstract
Investment banking revenues have contributed markedly to the recent increase in euro area banks’ non-interest income growth and the rebound in bank profitability. Internationally, equity capital market (ECM) revenue has doubled in the last three years, while debt capital market (DCM) and merger and acquisition (M&A) revenue has increased by around 50%, with only syndicated lending remaining more subdued. In the euro area, however, the most significant volume increase has come from debt instruments, which have long been the preferred source of corporate funding in the euro area ahead of equity. Despite the international growth in capital market volumes, market commentary before the pandemic suggested that investment banking was the “problem child” of European banking, with many large banks retreating from various market segments as they faced the fallout from the global financial crisis. Against this background, this box considers the recent developments in investment banking of euro area banks in relation to some of the prior trends and considers how sustainable the recent strength might be.
JEL Code
G12 : Financial Economics→General Financial Markets→Asset Pricing, Trading Volume, Bond Interest Rates
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G24 : Financial Economics→Financial Institutions and Services→Investment Banking, Venture Capital, Brokerage, Ratings and Ratings Agencies
:

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Lessons learned from initial margin calls during the March 2020 market turmoil

Financial Stability Review Issue 2, 2021

English

Abstract
This box establishes stylised facts about the significant increase in initial margin (IM) in the euro area derivatives market during the March 2020 market turmoil. First, it shows that the increase was concentrated almost entirely in centrally cleared derivatives and driven mainly by equity, credit and interest rate portfolios. Second, by comparing static portfolios with those where portfolio repositioning took place, the IM increase is decomposed into (i) changes attributable to the CCP model sensitivity to market volatility, and (ii) changes attributable to portfolio repositioning by investors. For centrally cleared interest rate and credit derivatives (where this method is applicable), CCP model sensitivity to market volatility is found to be a key driver of the IM increase. Overall, the results suggest that it is important to develop a clearer understanding of “excessive procyclicality” for IM and possibly, on the basis of this common understanding, to review the models which CCPs use to calibrate IMs. The supervisory and regulatory framework governing the liquidity management of market participants, and in particular that of some non-bank financial intermediaries, should also be strengthened.
JEL Code
C60 : Mathematical and Quantitative Methods→Mathematical Methods, Programming Models, Mathematical and Simulation Modeling→General
G10 : Financial Economics→General Financial Markets→General
G13 : Financial Economics→General Financial Markets→Contingent Pricing, Futures Pricing

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

The role of financial stability in the ECB’s new monetary policy strategy

Financial Stability Review Issue 2, 2021

English

Abstract
The box reviews the role of financial stability in the ECB’s new monetary policy strategy and summarises the underlying analytical considerations. Financial stability is a precondition for price stability and vice versa. Accordingly, the pursuit of price stability by means of monetary policy, and of financial stability by means of macro-prudential, supervisory and regulatory policies, are complementary. For example, a build-up of financial imbalances increases the likelihood of future financial crises, with a negative impact on price stability. Addressing these vulnerabilities with adequate marcro-prudential measures is also beneficial for price stability. Similarly, monetary policy may also affect financial stability risks: it can reduce credit risk by boosting activity levels and inflation dynamics but at times may also encourage the build-up of leverage or raise the sensitivity of asset prices. In view of the price stability risks arising in financial crises, there is a clear conceptual case for the ECB to take financial stability considerations into account in its monetary policy deliberations. This does not imply that monetary policy is responsible for guaranteeing financial stability or lessen the role of macro-prudential policies as a first line of defence against financial vulnerabilities. Accordingly, the ECB’s new monetary policy strategy envisages a flexible approach in considering financial stability whenever this is relevant to the pursuit of price stability.
JEL Code
E3, E44, G01, G21 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Assessing the strength of the recent residential real estate expansion

Financial Stability Review Issue 2, 2021

English

Abstract
In order to assess the strength of the current residential real estate expansion, we compare recent developments in euro area housing markets with the period ahead of the global financial crisis (GFC). We find that house price dynamics, overvaluation and the risk profile of new mortgage loans are at similar levels to those observed during the height of the pre-GFC cycle in 2007. However, vulnerabilities from mortgage lending developments and household balance sheets are currently below their pre-GFC levels. We conclude that the continued build-up of vulnerabilities in residential real estate markets calls for close monitoring and possible macroprudential measures.
JEL Code
R31 : Urban, Rural, Regional, Real Estate, and Transportation Economics→Real Estate Markets, Spatial Production Analysis, and Firm Location→Housing Supply and Markets
G51 : Financial Economics
P34 : Economic Systems→Socialist Institutions and Their Transitions→Financial Economics
G01 : Financial Economics→General→Financial Crises

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

The impact of loan and market-based credit supply shocks on euro area GDP growth

Financial Stability Review Issue 2, 2021

English

Abstract
Using a Bayesian vector autoregression model and drawing from a novel quarterly dataset on debt financing of non-financial corporations, this box estimates the effects of loan and market-based credit supply jose peppers vegan options on GDP growth in the euro area and the five largest euro area countries. A novel identification scheme with inequality restrictions is developed to distinguish between the two types of credit supply shock. The results suggest that not only loan supply but also market-based credit supply shocks play an important role for GDP growth. For the euro area as a whole, the explanatory power of both types of credit supply shock is found to be similar, while in Germany and France the explanatory power of market-based credit supply shocks exceeds that of loan supply shocks. Since market-based credit is mostly provided by non-bank financial intermediaries, the findings also suggest that strengthening the resilience of these intermediaries – such as through an enhanced macroprudential framework – would support GDP growth.
JEL Code
C32 : Mathematical and Quantitative Methods→Multiple or Simultaneous Equation Models, Multiple Variables→Time-Series Models, Dynamic Quantile Regressions, Dynamic Treatment Effect Models, Diffusion Processes
E32 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Business Fluctuations, Cycles
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E51 bank of tennessee hours Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Money Supply, Credit, Money Multipliers
G2 : Financial Different banks names Institutions and Services

17 November 2021

FINANCIAL STABILITY REVIEW - ARTICLE

Creditor coordination in resolving non-performing corporate loans

Financial Stability Review Issue 2, 2021

English

Abstract
Numerous European and national initiatives have been deployed since 2014 to reduce non-performing loan (NPL) stocks on euro area bank balance sheets. NPL ratios have fallen as a result, but very gradually, mainly thanks to sales to non-bank investors. Despite stronger market activity, prices paid by NPL investors have only improved marginally and continue to stand well below values assigned to NPLs by banks. One type of NPL that has proven particularly difficult to resolve is loans to non-financial firms that have borrowed from multiple banks – multi-creditor loans. Analysis of these loans relative to others finds lower provision coverage by the lending banks, reflecting more optimistic valuations by individual banks and limited recognition of the expected costs of multi-creditor coordination. This special feature proposes a strategy to overcome creditor welcome home real estate failures and costs, through the use of data platforms providing ex ante transparency to NPL investors. These, together with NPL securitisation, could substantially reduce the gap between the value of the loans booked on banks’ balance sheets and the prices offered by investors for NPL portfolios.
JEL Code
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G32 : Financial Economics→Corporate Finance and Governance→Financing Policy, Financial Risk and Risk Management, Capital and Ownership Structure, Value of Firms, Goodwill

17 November 2021

FINANCIAL STABILITY REVIEW - ARTICLE

Bank capital buffers and lending in the euro area during the pandemic

Financial Stability Review Issue 2, 2021

English

Abstract
Bank capital buffers are supposed to help banks to absorb losses while maintaining the provision of key financial services to the real economy in times of stress. Capital buffers that are usable along these lines should lessen the damaging effects that can arise from credit supply shortages. Making use of buffers entails using the capital space above regulatory buffers and minimum requirements and, in case of need, also using regulatory buffers. Care credit synchrony bank contact special feature analyses bank lending behaviour during the pandemic to gain insights into banks’ propensity to use capital buffers and the impact of the regulatory capital relief measures implemented by the authorities. From a macro perspective, the euro area banking system was able to meet credit demand and withstand stress. However, this aggregate america ferrera twitter reflects several factors, including the impact of extraordinary policy measures. A micro perspective thus can help to comprehend how the capital buffer framework and capital releases affected banks’ behaviour during the pandemic. A microeconometric analysis shows that the banks with limited capital space above regulatory buffers adjusted their balance sheets by reducing lending, which could be interpreted as an attempt to defend capital ratios, suggesting unwillingness to use capital buffers. The results also show that the regulatory capital relief measures adopted during in the pandemic, which added to banks’ existing capital space, were associated with higher credit supply. while more research is desirable, this suggests that more releasable capital could enhance macroprudential authorities’ ability to act countercyclically when a crisis occurs.
JEL Code
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
E44 : Macroeconomics and Monetary Economics→Money and Interest Rates→Financial Markets and the Macroeconomy
E41 : Macroeconomics and Monetary Economics→Money and Interest Rates→Demand for Money

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

Sensitivity of sovereign debt in the euro area to an interest rate-growth differential shock

Financial Stability Review Issue 2, 2021

English

Abstract
Euro area sovereigns have issued significant amounts of new debt in response to the pandemic. While fiscal support was crucial to limit economic scarring and aid the recovery, it has also triggered concerns about medium to longer-term sovereign debt sustainability. One of the key factors for assessing sovereign debt sustainability is the interest rate-growth differential (
JEL Code
E43 : Macroeconomics and Monetary Economics→Money and Interest Rates→Interest Rates: Determination, Term Structure, and Effects
E6 : Macroeconomics and Monetary Economics→Macroeconomic Policy, Macroeconomic Aspects of Public Online saving account opening, and General Outlook
H62 : Public Economics→National Budget, Deficit, and Debt→Deficit, Surplus
H63 : Public Economics→National Budget, Deficit, and Debt→Debt, Debt Management, Sovereign Debt
H68 : Public Economics→National Budget, Deficit, and Debt→Forecasts of Budgets, Deficits, and Debt

17 November 2021

FINANCIAL STABILITY REVIEW - BOX

ECB macroprudential stress test complements the EBA/SSM stress tests results in 2021

Financial Stability Review Issue 2, 2021

English

Abstract
The ECB’s biennial macroprudential stress test evaluates the resilience of the euro area banking system, this year also assessing the impact of pandemic-related policy measures. While relying on the same adverse and baseline scenarios as the EBA/SSM supervisory stress test, it also employs a dynamic balance sheet perspective and introduces amplification mechanisms relying on the banking euro area stress test what is my chase quickpay email framework as outlined in Budnik et al. (2020). The results indicate a strong bank capitalisation under the baseline scenario combined with a subdued outlook for bank profitability. The lending outlook differs sharply for the two scenarios where policy support measures have a clear positive effect, especially in the adverse scenario, and have helped to ensure the resilience of the financial system.
JEL Code
E37 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Forecasting and Simulation: Models and Applications
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G28 : Financial Economics→Financial Institutions and Services→Government Policy and Regulation
Источник: https://www.ecb.europa.eu/

Welcome to TD Bank Personal Banking

Community means family.

I think that's what it's turned into.

I'm going to cry.

I don't know why.

Alright, your turn to talk.

Hey everybody.

Sam from Bonn Place Brewing Company here, and this is my wife.

I'm Gina.

Bethlehem is one of the greatest steel towns in America.

When manufacturing had a downturn Bethlehem had to reinvent itself.

When I first met Sam and Gina, they had this dream that they wanted to accomplish.

When we first signed our lease on this building, people were questioning it, like "you sure you want to open a brewery on the south side of Bethlehem in the current climate?"

We were certain that it was ready for what we wanted to do.

We needed a bit of help to get this place opened.and everybody needs help.

When anybody ever comes to us and says, "We need help. What can we do? We don't know how to get through this red tape."

We say, "This is what we did. This might help you."

We even went to City Hall for someone once.

This is the community we can change.

What we can change is right here and right now.

Sam and Gina are very passionate about working with women entrepreneurs.

It's hard to start a business.

One thing Sam and Gina have been able to achieve is share the lessons they've learned with other business owners and convince them, "hey, it actually is possible."

We want to see businesses succeed with the opportunities that we've had.

So what better way than to mentor them.

We're all in this together, and it's the bigger picture.

Bonn Place is a catalyst for the regrowth of this community.

They're also now helping other young entrepreneurs get started.

Sam and Gina sat down with us and gave us tips and tricks of what to do to get started.

We had this idea.

And they believe in us.

How much they're committed to the growth of Bethlehem as a whole.

That's the real story.

[Applause]

They are the last two people who would want how often should you drink kombucha for health benefits bestowed upon them, but they are the most deserving.

So we all want to gather here today and say thank you, because we value everything that you put into Bethlehem.

There's a little bit more.

So, the contribution we made to a female entrepreneurship program, in your name.

We're absolutely thrilled.

Next year, with this gift, we're going to be able to serve even more women entrepreneurs.

The integrity of this community is real strong.

This is just the beginning.

Источник: https://www.td.com/us/en/personal-banking/

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Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.

Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

Equal Housing Lender

Bank Within a Location

A Bank located in a grocery store. These locations have ATMs, teller services, and a private office for customer meetings.

Make an appointment

These locations allow you to schedule an appointment to meet with a Wells Fargo banker millenium bank apple pay a time that works for you.

Notary Service

Banking locations with a notary service available. Please call the location in advance to meet with a notary.

ATM Deposit Cutoff

Checks deposited at Envelope-FreeSM ATMs before 9:00 pm weekdays are considered received that same day. Checks deposited after 9:00 pm weekdays or on bank holidays are considered received the next business day. Cash deposits are available for use immediately.

ATM Deposit Cutoff

Checks deposited at Envelope-FreeSM ATMs before 8:00 pm weekdays are considered received that same day. Checks deposited after 8:00 pm weekdays or on bank holidays are considered received the next business day. Cash deposits are available for use immediately.

Digital wallet access

Add your Wells Fargo Debit or EasyPay® Cards to your digital wallet to easily access your accounts at a Wells Fargo ATM displaying the contactless symbol.

Important information

Digital wallet access is available at Wells Fargo ATMs displaying the contactless symbol for Wells Fargo Debit and Wells Fargo EasyPay® Cards in Wells Fargo-supported digital wallets. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply. Some ATMs within secure locations may require a card for entry.

ATM Access Code

Use the Wells Fargo Mobile® app to request an ATM Access Code to access your accounts without your debit card at any Wells Fargo ATM.

Important information

ATM Access Codes are available for use at all Wells Fargo ATMs for Wells Fargo Debit and ATM Cards, and Wells Fargo EasyPay® Cards using the Wells Fargo Mobile® app. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply. Some ATMs within secure locations may require a card for entry.

Источник: https://www.wellsfargo.com/locator/

Types of Savings Account

Savings accounts offer a high range of features, facilities and benefits. What makes the savings accounts more convenient is the set of different types of savings account accessible in the market that are designed to meet different savings account low income housing russellville ar. There are mainly five types of bank account:

  • Regular or Basic Savings Account
  • Salary Savings Account
  • Senior Citizen Savings Account
  • Children’s Bank Account
  • Women’s Savings Account

Below are detailed descriptions for each type of savings bank account.

Regular Savings Account

Regular or basic savings accounts allow you to deposit money whenever you want. The account earns a small percentage of interest on its balance throughout the year. You will be required to maintain a minimum balance in your savings account and pay a penalty if you fail to do so. You can avail freedom in terms of deposits and tenure; however, withdrawals will be limited.

Online Savings Account Opening

Regular Savings Accounts Offered by Top Banks

Here is a list of the top most banks offering Regular or Basic savings accounts together with the interest rates and required minimum balance.

BankMinimum Balance Required Saving Account Interest Rate
Yes Bank Customizable Savings AccountCustomized Account: Rs. 10,000, Yes First: Nil, Yes Primia: Rs. 2 Lakh4.00% - 5.50%
DBS Bank Digi AccountAverage Monthly Balance of Rs. 50003.00% - 4.00%
SBI Basic Savings Bank AccountNIL2.70%
HDFC Bank Regular Savings AccountRs. 10,000 for metro Urban branches Rs. 5,000 For Semi Urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account3.00% - 3.50%
ICICI Bank Regular Savings AccountRs. 10,000 in metro and Urban locations, Rs. 5,000 in Semi Urban and Rs. 2,000 in Rural locations3.00% - 3.50%
ESAF Small Finance Bank Regular Saving Account Rs. 1,0004.00% - 7.00%
AU Small Finance Bank Samarth Saving scheme Rs. 5,0003.50% - 7.00%
Equitas Small Finance Bank Regular Saving Account N.A3.50% - 7.00%
Jana Small Finance Bank Regular Saving AccountRs. 2,5003.50% - 7.25%
Ujjivan Small Finance Bank Ujjivan Bank Regular Savings AccountN.A4.00% - 7.00%

Read more

Salary Savings Account

As the name suggests, Salary savings accounts are for salaried individuals. Generally, employers create salary savings accounts for employees. Besides the key benefits of savings accounts, you also get the feature of a no-minimum balance requirement. However, the salary accounts are automatically turned into Regular savings accounts if no salary has been credited to the accounts in consecutive three months. In such a case, the accounts will be subject to a minimum balance requirement.

Salary Savings Account Offered by Top Banks

BanksInterest Rates
SBI2.70% - 2.70%
HDFC Bank3.00% - 3.50%
ICICI Bank3.00% - 3.50%
Axis Bank3.50% - 4.00%

Senior Citizen Savings Account

The key object behind a senior citizen savings account is to provide financial security to senior citizens. The Senior Citizen savings account offers higher interest rates with minimum balance requirement. This sort of account can be linked to pension funds.

Top Senior Citizen Savings Account

BankName of Savings Accounts
Yes BankYes Respect Savings Account
HDFC BankSenior Citizens Account
Induslnd BankIndus Senior Savings Account
Kotak BankGrand- The Savings Programme for the 55+
State Bank of IndianSenior Citizen Savings Scheme
IDFC BankSenior Citizen Savings Account
Canara BankCanara Jeevandhara
ICICI BankLife Plus Senior Citizens Savings Account
Axis BankJubilee Plus Account (Senior Citizens)

Children and Minor Savings Account

Children or minor accounts are for those who have not reached the age of 18. The what city is the murder capital of canada behind Children savings account is to create a sense of investment in children and to allow parents to save for their children. The Children and Minor savings account offer the same features as the Regular savings accounts. No minimum balance is required for managing a Children or Minor account.

Children Savings Account Offered by Top Banks

Below mentioned is the list of banks providing savings accounts for children and minors.

BankName of Savings Accounts
Yes BankMY First Yes
ICICI BankYoung Stars Savings Account Smart Star Savings Account
Axis BankFuture Stars Savings Account
IDBI BankPower Kidz Account
IDFC BankMinor Saving Account
South Indian BankJunior Savings
Andhra BankAB Kiddy Bank AB Little Stars AB Teens
SBIPehla Kadam and Pehli Udaan
HDFC BankKids Advantage Account
PNBPNB Junior SF Account PNB Vidyarthi SF Account
Kotak BankJunior- Savings Account for Kds
Indian BankIB Smart Kid SB Account
Canara BankCanara Junior Saving Account
UCO BankUCO Smart Kids Savings Bank Scheme

Read more

Women’s Savings Account

Women’s savings accounts are designed for women customers. In addition to providing the benefits that come with the Regular savings accounts, Women’s savings accounts offer higher interest rates, discounts on other bank products.

Women Savings Accounts Offered by Top Banks

Below is the list of banks offering Women’s savings accounts.

BankName of Savings Accounts
HDFC BankWomen's Savings Account
Axis BankWomen's Savings Account
IDBI BankSuperShakti (Women’s) Account
Kotak BankSilk-Women's Savings Account
ICICI BankAdvantage Woman Savings Account
PNBPNB Power Savings
South Indian BankMahila Plus Savings Bank

Savings Account Facilities

Following are the facilities that banks provide via savings accounts.

  • Savings account offers interest rate in the range of 0.50% to 7.25%.
  • Avail savings account with passbook, cheque book, debit cards and credit cards.
  • There are different types of savings account to serve different customer requirement.
  • You can withdraw money from your savings account using ATMs located across the country.
  • With savings account, you can make online payments using net banking, debit cards and UPI.
  • You can auto debit your loan EMIs through your savings account.
  • Enjoy the benefits of joint savings accounts.
  • Get notification or alert via mail or SMS for every transaction.
  • View your account statements via mail, SMS or e-banking.
  • If you are a savings account holder, you can apply for loans through the net banking platform.

Savings Account Charges

Opening and maintaining savings accounts are subject to several charges. While banks may charge some fees as per their procedures. Below is the list containing common charges of savings accounts.

ChargesAmount to be deducted
Non-maintenance charge From ₹ 150 to ₹ 300
Charge for transactions at account holding branch of the bank
  • None for the first three translation per months
  • ₹ 150 for any subsequent transaction (after the first three transactions)
ATM Transaction from any other bank
  • None for the first 3 to 4 transaction
  • ₹ 10 to ₹ 20 for subsequent transaction

FAQs

✅What are the 3 types of savings accounts?

The three types of savings accounts are:

  • Regular savings account: You can deposit money and earn interest. You will be required to maintain a minimum balance.
  • Salary savings accounts: Employers mainly create these accounts for generating salary. There is no minimum balance requirement.
  • Special savings accounts: Senior Citizen savings accounts, Children savings account and Women’s savings accounts fall under this category.

Types of Savings 1801 main street houston tx

✅What are the four main types of savings accounts to select from?

The four main types of savings account to select from are:

  • Regular savings accounts for operating a basic savings account.
  • Salary savings accounts for salary transactions.
  • Senior Citizen savings accounts for senior citizens.
  • Women’s savings account for women.

✅What first tennessee bank johnson city tn a basic savings account?

A basic or regular savings account allows you to save money and earn interest on the investment. There is no limit for deposit and for the time period you can hold the account. However, you will be required to maintain a minimum balance.

✅What are the features of savings account?

The main features of savings account are as follows:

  • Making and receiving payments online
  • Facility to use net-banking and mobile banking
  • Availability of the auto-sweep feature
  • No limit for tenure and deposit.
  • Facility of debit card which can be used to withdraw money or make payment.

✅What is better than a savings account?

One of the better instruments is Fixed Deposits, they are excellent financial instruments and offer higher returns, below are the features of FDs:

  • Tenure ranges between 7 days to 10 years
  • Secured returns
  • Interest income compounded monthly, quarterly or annually.
  • Penalty against partial or full withdrawal facility
  • Loan against deposits available
  • Senior citizens get higher interest rates in the range of 0.25 -1.00 %.

✅Can I lose money in a savings account?

Yes, there are chances that you might lose money in the savings accounts. If the inflation rate is greater than the interest received on the saving accounts then in the long run your account is fetching you negative returns. The best way to subside this issue is to invest in a financial instrument that offers higher returns than the inflation rate in the economy. Currently, the inflation rate in the economy is around 6%.


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Источник: https://www.myloancare.in/savings-account/different-types-of-savings-account/

What is a Bank Routing Number and Where is it Found?

A routing number is a nine-digit code used to identify a financial institution in the United States. Banks use routing numbers to direct the exchange of funds to and from one another. You can typically find the routing number on the bottom left corner of most personal checks.

How to Find a Routing Number

Routing numbers were originally created by the American Bankers Association (ABA) to streamline the circulation of paper checks on a massive scale. They are commonly referred to as ABA routing numbers or American Clearing House (ACH) routing numbers, and can be found on personal checks, bank websites or the ABA’s online database. We link to different sources below.

Where is the Routing Number on a Check?

The routing number and your personal account number can both be found on the bottom of the checks issued by your bank. Most banks provide at least one free checkbook for new customers.

how to find my aba bank routing number on a check The routing number consists of nine digits printed on the bottom-left corner of your check. The odd font used to print the number is known as magnetic ink character recognition (MICR) and is printed in electronic ink to allow banking institutions to easily process checks.

Account Number: The account number is located in the bottom center of your personal check, just to the right of your routing number. The account number is the unique identifier for your bank account.

Check Number: To help you keep a record of all payments, the bottom right corner of your personal check contains a unique check number.

When providing routing and account numbers, it’s crucial to double-check your entries because errors can lead to failed transfers or send your money to the wrong account. If you catch an error, notify your bank so it can reverse the transaction. For more information, read our detailed guide to writing checks.

How to Find a Routing Number Without a Check

If you don’t have a checkbook, you can still find your routing number by checking your bank’s website or calling your local branch. The routing number varies by bank and region. Since one bank can have multiple routing numbers, be sure to confirm that your routing number corresponds to the specific bank where you opened your account.

We’ve included a list of some of the major national lending institutions with links to their respective routing numbers.

How to Find a Bank with a Routing Number (ABA Search)

If you wish to look up a bank by its routing number, you can search for it on the ABA's website. Additionally, you can also search for routing numbers through their website by inputting the bank’s name and address.

It’s possible to receive checks without a bank name. Technically speaking, the Federal Reserve system processes transactions as long as they receive the bank routing number and account number. This is why it’s so important to protect your personal account number as carefully as you protect your social security number.

What’s the Difference Between ABA and ACH Routing Numbers?

Technically speaking, ABA routing numbers apply to paper checks while ACH routing numbers apply to electronic transfers and withdrawals. Most major banks today use the same routing number for both. However, it’s not uncommon to see separate ABA and ACH routing numbers for regional lending institutions.

ABA routing numbers are sometimes referred to as the "check routing number," and the ACH routing number as the "electronic routing number" or "number for electronic transfers." If only one number is cited, it’s likely that the ABA and ACH routing numbers are the same, but it doesn’t hurt to contact your bank to make sure.

What’s the Difference Between ACH and Wire Transfers?

ACH transfers are extended stay america weekly rates electronic transfers between financial institutions which are conducted through a third-party clearinghouse. By contrast, wire transfers are direct electronic transfers between financial institutions.

Wire transfers are processed quicker than ACH transfers since they are not cleared through a third party. Wire transfers can be completed within hours or even minutes of when they’re filed, while ACH transfers may take a few days. Wire transfers are also considered more secure because each bank must verify the transaction before it clears, while ACH transfers usually clear automatically.

We find that banks typically charge between $15 and $65 to send and receive wire transfers, whereas ACH transfers are generally free. Due to the added cost, wire transfers are best used for essential purchases involving large amounts, or transfers where the funds must arrive in a timely fashion. ACH transfers are sufficient for everyday transactions.

What are SWIFT and IBAN Codes?

Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a code that identifies the bank in an international transaction, just as an ABA or ACH number identifies a bank in a U.S. domestic transaction.

International Bank Account Number (IBAN) identifies your personal account in an international transaction. It’s usually the same as your regular account number with a few additional digits added in an internationally recognizable format. If you need to send funds internationally, ask the recipient for the IBAN number of their bank account.

SWIFT and IBAN were both developed to standardize an international identification system for financial institutions. While the United States uses the ABA system of transactions locally, American banks accept and transmit funds using the SWIFT system for multinational transactions.

Источник: https://www.valuepenguin.com/banking/what-is-a-routing-number

Get Up to Speed on the Different Types of Banks

When you think of a bank, the first thing that comes to mind might be the institution that holds your checking or savings account. But there are several different types of banks, all serving different needs.

You might not have heard of all of these banks, but each example probably plays some part in your everyday life. Different banks specialize in distinct areas, which makes sense—you want your local bank to put everything they can into serving you and your community. Likewise, online banks can do their thing without the overhead of managing multiple branch locations.

Types of Banks

Some of the most common banks are listed below, but the dividing lines are not always clear. 

Some banks provide services but i know the plans i have for you multiple areas. For example, a bank might offer personal accounts to consumers, merchant accounts for businesses, and even help large enterprises raise money in the financial markets.

  • Retail banks are probably the banks you’re most familiar with. Your checking and savings accounts are often kept with a retail bank, which focuses on consumers (or the general public) as customers. These banks offer loans and may provide credit cards, and they’re the ones with numerous branch locations in populated areas.
  • Commercial banks focus on business customers. Businesses need checking accounts just like individuals do. But they also need complex services, and the dollar amounts (and the number of transactions) can be substantial. Commercial banks, which are also called business banks or corporate banks, manage payments for customers, provide lines of credit to manage cash flow, and offer foreign exchange services for companies that do business overseas.
  • Investment destination wedding locations usa help businesses raise capital in financial markets. If a company wants to go public or sell debt to investors, it often uses an investment bank. This kind of bank also may advise corporations on mergers and acquisitions.
  • Private banks provide services exclusively to wealthy clients, usually those with at least $1 million of net worth. They help clients manage their wealth, provide tax advice, and set up trusts to avoid taxes when leaving money to descendants.
  • Central banksmanage the monetary system for a government. For example, the Federal Reserve is the U.S. central bank responsible for supervising banks and setting monetary policy to control inflation, reduce unemployment, and provide for moderate lending rates.
  • Credit unions are similar to banks, but they are not-for-profit organizations owned by their customers. (Investors own most banks.) Credit unions offer products and services more or less identical to retail banks. The main difference is that credit union members share some characteristic in common—where they live, their occupation, or an organization they belong to, for example.
  • Online banks operate entirely online; there are no physical branch locations available to visit with a teller or personal banker. Many brick-and-mortar banks also offer online services, such as the ability to view accounts and pay bills online, but internet-only banks are different. Internet banks often offer competitive rates on savings accounts, and they’re especially likely to offer free checking. 
  • Mutual banks are similar to credit unions because they are owned by members (or customers) instead of outside investors. Also like credit unions, they tend to be active in only a single community.
  • Savings and loans are less prevalent than they used to be, but they are still important. This type of bank helped make homeownership mainstream, using savings deposits from customers to fund home loans. The name savings and loan is derived from that core activity. 

Non-Bank Lenders

Non-bank lenders are increasingly popular sources for loans. Technically, they’re not banks, but your experience as a borrower might be similar. You apply for a loan and repay it as if you were working with a bank.

These institutions specialize in lending, and they are not interested in all of the other activities and regulations that apply to traditional banks. Sometimes known as marketplace lenders, non-bank lenders obtain funding from investors—both individual investors and institutional investors.

For consumers shopping for loans, non-bank lenders are often attractive. They may use different approval criteria than traditional banks, and rates are often competitive. Peer-to-peer lenders are just one example of these marketplace lenders, and they can be an option whether you have high credit scores or you have fair credit.

Online lenders gained momentum with personal loans, but they offer other products as well. You can borrow for education, a home purchase or refinancing, and more.

Источник: https://www.thebalance.com/types-of-banks-315214

ABC's of Banking

Provided by the State of Connecticut, Department of Banking, based on information from the Conference of State Bank Supervisors (CSBS) 


Banks, Thrifts, and Credit Unions - What's the Difference?

There are three major types of depository institutions in the United States. They are commercial banks, thrifts (which include savings and loan associations and savings banks) and different banks names unions.

These three types of institutions have become more like each other in recent decades, and their unique identities have become less distinct. They still differ, however, in specialization and emphasis, and in their regulatory and supervisory structures.

Commercial banks are the traditional "department stores" of the financial services world. Thrift institutions and credit unions are more like specialty shops that, over time, have expanded their lines of business to better compete for market share. (Connecticut law, in fact, grants thrifts the same powers as commercial banks).

Commercial Banks

Commercial banks are generally stock corporations whose principal obligation is to make a profit for their shareholders. Basically, banks receive deposits, and hold them in a variety of different accounts; extend credit through loans and other instruments: and facilitate the movement of funds. While commercial banks mostly specialize in short-term business credit, they also make consumer loans and mortgages, and have a broad range of financial powers. Their corporate charters and the powers granted to them under state and federal law determine the range of their activities.

States and the federal government each issue bank charters. State-chartered banks operate under state supervision and, if different banks names fail, are closed under provisions of state as well as federal law. National banks are chartered and regulated by the Office of the Comptroller of the Currency (OCC), a division of the Treasury Department. Banks can choose between a state or a federal charter when starting their business, and can also convert from one charter to another after having been in business. Commercial banks receive different banks names insurance from the Federal Deposit Insurance Corporation (FDIC) through the Bank Insurance Fund (BIF). All national banks, and some state-chartered banks, are members of the Federal Reserve System.

Savings and Loans/Savings Banks

Savings and loan associations and savings banks specialize in real estate lending, particularly loans for single-family homes and other residential properties. They can be owned by shareholders ("stock" ownership), or by their depositors and borrowers ("mutual" ownership). These institutions are referred to as "thrifts," because they originally offered only savings accounts, or time deposits. Over the past two decades, however, they have acquired a wide range of financial powers, and now offer checking accounts (demand deposits) and make business and consumer loans as well as mortgages.

Both savings and loan associations and savings banks may be chartered by either the federal Office of the Comptroller of the Currency (OCC) or by a state government regulator. Generally, savings and loan associations are insured by the Savings Association Insurance Fund (SAIF), and savings banks are insured by the Bank Insurance Fund (BIF).

Savings institutions must hold a certain percentage of their loan portfolio in housing-related assets to retain their charter, as well as their membership in the Different banks names Home Loan Bank System. This is called the "qualified thrift lender" (QTL) test. Savings institutions must maintain 65% of their portfolio in housing-related or different banks names qualified assets to maintain their status. Recent liberalization of the QTL test has allowed thrifts to use some non-housing assets to meet this requirement.

The number of thrifts declined dramatically in the late 1980s and early 1990’s. The savings and loan crisis of the 1980s forced many institutions to close or merge with others, at an extraordinary cost to the federal government. However, there was a resurgence of interest in the thrift charter in following years. The recapitalization of the thrift fund, a revitalized industry and legislative changes made the charter – once thought doomed to extinction – an appealing route to financial modernization for some. Due to liberalization of the qualified thrift lender test, many insurance companies and securities firms, as well as commercial firms, are now able to qualify as unitary thrift holding companies and to own depository institutions, bypassing prohibitions in the Glass Steagall Act and the Bank Holding Company Act. Critics of a revitalized thrift charter have said that it has advantaged a certain class of financial institutions, highlighting the need for broader financial modernization through federal legislation.

Credit Unions

Credit unions are cooperative financial institutions, formed by groups of people with a "common bond." These groups of people pool their funds to form the institution's deposit base; the group owns and controls the institution together. Membership in state farm bank compliance test answers credit union is not open to the general public, but is restricted to people who share the common bond of the group that created the credit union. Examples of this common bond are working for the same employer, belonging to the same church or social group, or living in the same community. Credit unions are nonprofit institutions that seek to encourage savings and make excess funds within a community available at low cost to their members.

Credit unions accept deposits in a variety of accounts. All credit unions offer savings online bank accounts uk best, or time deposits; the larger institutions also offer checking and money market accounts. Credit unions' financial powers have expanded to include almost anything a bank or savings association can do, including making home loans, issuing credit cards, and even making some commercial loans. Credit unions are exempt from federal taxation and sometimes receive subsidies, in the form of free space or supplies, from their sponsoring organizations.

Credit unions were first chartered in the U.S. in 1909, at the state level. The federal government began to charter credit unions in 1934 under the Farm Credit Association, and created the National Credit Union Administration (NCUA) in 1970. States and the federal government continue to charter credit unions; almost all credit unions are insured by the National Credit Union Share Insurance Fund, which is controlled by the NCUA. In Connecticut, state-chartered credit unions are supervised by the Department of Banking, Financial Institutions Division.

Connecticut law allows for various types of specialized bank charters within these broad categories. For more information on particular charter types, see our page on organizing a bank.

Lesson Three: Bank of the west in los angeles california and their Regulators

Источник: https://portal.ct.gov/DOB/Consumer/Consumer-Education/ABCs-of-Banking--Banks-Thrifts-and-Credit-Unions

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