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Accendo Markets Weekly Roundup : Cyprus & bail-ins added to list; Uncertainty vs. risk appetite

28 Mar 2013 @ 16:45
And so we add Cyprus to the list of Eurozone sovereign debt crisis bailouts. We can also add bail-ins of bank deposits (haircuts on uninsured deposits >€100K) and total bank investor wipe-outs to the list of self-help measures imposed by those holding the bailout purse strings. Politicians can shout all they like about Cyprus (often with mixed messages) being a special case and not...
 

JP Morgan Behind the Eight Ball

28 Mar 2013 @ 15:20
It’s been just less than two weeks since we last reported on the fiasco that is more popularly know as JP Morgan (LSE:JPM) (NYSE:JPM).  We can’t help it if they keep stepping into one muddy mess after another. CNBC and others have reported that the bank is now under investigations by eight different federal agencies, […]
 

UK Banks Still Suffering from Losses

27 Mar 2013 @ 13:48
The Bank of England’s Financial Policy Committee reported today that UK banks need an additional £25 billion in aggregate on reserve to guard against what Andrew Bailey called “inadequate provisions for losses on loans.”  The committee wants the extra capital raised by December. There is at least one small catch.  The banks are going to have […]
 

Cyprus Outlines “Unclear” Limits on Withdrawals

26 Mar 2013 @ 17:14
A day after the Cypriot government reached an agreement with the Eurogroup for the terms of the 10-billion euro bailout package, a new set of directives were given to bank managers today as citizens marched on the streets of Cyprus’ capital, Nicosia, in protest of the bailout terms. In a report presented by BBC’s Paul […]
 

Bitcoins: A New Currency on the Rise

26 Mar 2013 @ 07:46
Amidst a new financial crisis threatening the stability of the Eurozone, central banks trying to keep their currencies in check to boost their local economies, and governments tightening their grips to protect the integrity of the financial markets, one financial instrument in circulation around the world is on the rise and poised to become the […]
 

Special Report: The banks where now? Buy sell or hold by Robert Sutherland Smith

25 Mar 2013 @ 23:01
Has Cyprus made things worse for the UK listed banks? Or were their shares on such a roll that nothing can stop them. Robert Sutherland Smith worked through his first banking crisis just six years into his City career. That was in 1973. Thirty years later he has produced a report on where the banks […]
 

Cyprus Seals Deal To Prevent Financial Meltdown

25 Mar 2013 @ 10:50
After a week of uncertainty, Cyprus has finally reached a deal acceptable to both its parliament and its international creditors. The deal, formally announced earlier today, will spare deposits below 100,000 euros from any levy, in accordance with EU principles, but deposits above the said amount, however, will bear the burden of raising the 5.8 […]
 

Go Short on Royal Bank of Scotland

19 Mar 2013 @ 19:57
The price on the Royal Bank of Scotland (LSE:RBS) is going downwards and would keep on doing so. Since the price reached its yearly peak in January 2013, it has been coming down. The 4 EMAs used on the chart (the EMAs 10, 20, 50 and 200) confirm the statement above. The EMAs 10, 20 […]
 

Cyprus Crisis: Between the Devil and the Deep Blue Sea

19 Mar 2013 @ 17:12
The whole world has set their eyes on the events unfolding in the tiny island state of Cyprus, whose Parliament is set to vote on whether to uphold or reject the bailout terms presented by 17-member Euro currency bloc. At the time I started my writing of this article, the Cypriot Parliament has just started […]
 

HSBC Faces Money Laundering Case Anew

19 Mar 2013 @ 12:14
HSBC Holdings plc (LSE:HSBA) is the first to draw blood amongst British banks this year as it faces yet another charge of money laundering and tax evasion cases, the same accusation that had the bank paying £1.2 billion (US$1.9 billion) to US authorities in 2012. Late yesterday, Argentina’s Administrador Federal de Ingresos Publicos de Argentina […]
 
 
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