central bank news, patching a hole

[cheka.]

intend to update this regularly - as it is blind spot that shouldn't be allowed to persist. we should all be keeping an eye on the real governments/rulers. no more blind spot on gsus

starting off with iran article -- strong evidence that it fell to skype some time ago. likely the reason the war drums stopped.

note the same b.s. propaganda from skype central banks: their absolute demand that everything be done in secret. hardly the trait of a central bank owned by the people or gov of the host country. iran is dead

https://financialtribune.com/articles/economy-business-and-markets/62551/cbi-denies-e-banking-monopoly

The Central Bank of Iran is against monopolizing electronic banking and supports banks or entities that provide efficient services, the bank's governor said.

"The central bank backs the electronic services of all banks, on condition that they do not damage people's finances," Valiollah Seif was also quoted as saying by Banker.ir.

CBI Performance

Asked about CBI's refusal to disclose the precise number of bank transactions, Seif said the figures have been officially published and if anyone finds them lacking, the matter will be followed up "and there will be no exceptions".

"The central bank knows what it is going to do to continuously improve services offered by banks and the part concerning information technology is also supported by CBI," he added.

According to the latest data released by Shaparak, the body in charge of Iran’s payment network, Iranians made 1.06 billion successful digital payment transactions worth 1.19 quadrillion rials ($30.8 billion) in the month ending December 20.

The report indicated a 31.17% growth in the number of successful digital transactions and a 46.7% growth in the value of electronic operations compared with the same period of last year.

According to Shaparak, 253,358 online gateways were active by December 21.

Questioned about CBI's nondisclosure of financial statements, Seif said, "I am surprised by this expectation because the central bank is not a commercial enterprise. Therefore, it does not need to publish its earnings report."

He noted that the bank is a state entity in charge of managing the country's monetary policies, stressing that the "central banks' revenues and losses are not commonly deemed as a barometer of its performance".

Seif, who also heads the Money and Credit Council, emphasized that if the performance of the central bank is linked to its incomes, it would undermine the bank and hurt the economy.

The annual meeting of CBI was held late February after an eight-month delay, during which the bank's balance sheet was approved.

[Horn]

Best of luck at the endeavor, so often the MSM points completely opposite direction from where central bank news is happening.

LikeI heard Bolivia was no longer a central banking network pawn and participant, as Trump goes full on to bring any existing non-participants online.

[cheka.]

Best of luck at the endeavor, so often the MSM points completely opposite direction from where central bank news is happening.

LikeI heard Bolivia was no longer a central banking network pawn and participant, as Trump goes full on to bring any existing non-participants online.

just like the media does with EVERYthing. just have to grab whatever facts are scattered among the piles of b.s.

[Dachsie]

Interesting and news to me that Iran is also lost to the banksters' cause.

I think that state bank of North Dakota that Ellen Brown promotes has basically the same tragic flaws of the central banks. They do fractional reserve banking and I doubt if there books are completely open and I am sure there is room for "bad guys" cheating all they can get away with.

[cheka.]

Interesting and news to me that Iran is also lost to the banksters' cause.

I think that state bank of North Dakota that Ellen Brown promotes has basically the same tragic flaws of the central banks. They do fractional reserve banking and I doubt if there books are completely open and I am sure there is room for "bad guys" cheating all they can get away with.

i have heard good things about their setup (but i havent studied it much). that would be another good subject/thread

[cheka.]

libya....trading african slaves...while currency is destroyed. africans the new currency? interesting concept..

https://www.bloomberg.com/politics/articles/2017-04-23/libya-central-bank-to-intervene-in-war-on-dinar-in-coming-days

Libya Central Bank to Intervene in ‘War’ on Dinar in Coming Days

Oil export disruptions have cost Libya $160 billion since 2013

Many depositors have lost confidence in the banking sector

Libya’s central bank will intervene “intensively” to defend the country’s currency, the Tripoli-based governor said Sunday, as officials struggle to rein in a rampant black market and revive an economy in shambles after years of war.

The central bank “will not stand helpless or neutral in the war that our currency is subjected to,” he said. It is planning to intervene “intensively in the coming days to restore the financial situation and to defend the dinar,” he said, in coordination with the internationally backed unity government and the rival Tobrouk-based parliament.

================================================== ===========================
libya, how's it feel to be liberated? skype/bankster destruction ongoing

http://www.nasdaq.com/article/libya-central-bank-says-oil-revenues-down-to-48-bln-last-year-20170423-00055

By Ahmed ElumamiTRIPOLI, April 23 (Reuters) -

Libya's oil revenues have
collapsed 90 percent between 2012 and last year to $4.8 billion,
battered by conflict, oil stoppages, political infighting and
low crude prices, the central bank governor said on Sunday.

Since civil war toppled Muammar Gaddafi in 2011, Libya has
slipped steadily into chaos, with rival armed factions and their
political leaders battling for control of oil and a U.N.-backed
government struggling to impose authority.

Even the central bank's role has been contested with a rival
branch set up in the east and the Tripoli bank reluctant to pay
funding to the government until it wins backing from a
parliament in the east as agreed under the unity deal.

That legislation, split among moderates and hardliners, has
never voted to back the unity government. But the central bank
last year agreed to work with the unity government to help ease
the economic crisis.

Libya's presidential council, the main executive, has
clashed with the bank on how to tackle problems including a
liquidity crisis, inflation, a widening black market exchange
rate premium and a huge public deficit.

The U.N.-backed government faces huge challenges in Tripoli,
where real power is held by a patchwork of former anti-Gaddafi
rebel militias with shifting allegiances. A self-declared
government it tried to replace has been attempting to make a
comeback by force.

The unity government is also opposed by eastern
power-brokers allied to military commander Khalifa Haftar, who
has made territorial gains in eastern and central Libya this
year and threatened to move on Tripoli.


Read more: http://www.nasdaq.com/article/libya-central-bank-says-oil-revenues-down-to-48-bln-last-year-20170423-00055#ixzz4f8JQdR70

[cheka.]

looks like slovenia might need to be liberated....or certain people uhhh eliminated....or?

http://www.reuters.com/article/us-slovenia-cenbank-idUSKBN17M1OG

Slovenian government seeks some supervision of central bank

Slovenia moved to put its independent central bank under some, limited supervision on Thursday, responding to accusations that the bank had demanded too much state capital for domestic banks to ward off a potential debt crisis four years ago.

The government approved changes to proposed legislation that would authorize the Court of Audit, a state body that supervises public spending in the country, to have some oversight of the Bank of Slovenia's business activities.

Tilen Bozic, state secretary at the ministry of finance, said the bank would remain independent but the Court of Audit would now be able to review decisions that lead to spending of public funds.

The changes to the law, which are expected to be passed by parliament in the coming months, would also enable the Court of Audit to review the central bank's decisions over the past 10 years.

But the court will not be able to review monetary policy and those activities of the Bank of Slovenia which are part of the activities of the European system of central banks, Bozic said. Slovenia has been a member of the euro zone since 2007.

The government moved to increase supervision of the bank after policymakers came under fire from a number of local analysts, politicians and media about the money it required for domestic banks in 2013.

In that year the government had to pour more than 3 billion euros into local banks to prevent them from collapsing under a large amount of bad loans. That enabled Slovenia to narrowly avoid an international bailout.

The central bank claims all procedures of the 2013 bank overhaul were in line with legislation, including the decision to annul shares and subordinated bonds in troubled banks.

It gave no immediate comment regarding the proposed legal changes.

[cheka.]

things are popping in india too - their version of FBI raiding some central banksters. wonder if these guys tried to stop the new gold laws....or put the new laws in?

http://www.hindustantimes.com/india-news/cbi-raids-central-bank-of-india-private-trust-officials-in-rs-58-cr-scam/story-GVwkgCozpCREQ10XYVTw8I.html

The CBI on Friday raided the residences of several serving and former officers of the Central Bank of India and officials of the Sinhagad Technical Education Society (STES) at multiple locations in connection with a Rs 58-crore scam, an official said in Mumbai.

The Central Bureau of Investigation (CBI) sleuths carried out raids on residential and official premises of the bank officers and STES officials in Mumbai, Pune and Nashik.

According to the CBI, a case has been registered against AG Sawant, former Assistant General Manager (AGM), Central Bank of India’s Mid-Corporate Branch, Pune (now retired), Vidyadhar Pednekar, a former Senior Manager in the same branch, STES President and Managing Trustee M.N. Navale, certain trust officials and unknown persons, under various sections of the Indian Penal Code and the Prevention of Corruption Act.

The CBI said that during 2011-2012, the bank officers, Sawant and Pednekar, entered into “a criminal conspiracy” with Navale and others to avail various financial facilities to the tune of Rs 81.30 crore, including a fresh loan of Rs 60 crore and transferring the STES’s existing loans from the Punjab & Sindh Bank and the Canara Bank.

Navale submitted a project report giving false information that the loan amount would be utilised for various construction works and supplying materials to various STES campuses, including the under construction dental college and hospital in Narhe, Pune.

Sawant allegedly recommended the loan proposal, which was cleared by the Central Bank of India board, amounting to Rs 75.01 crore, comprising Rs 60 crore as a new loan plus Rs 13.01 crore takeover loan from the Canara Bank and another Rs 2-crore takeover loan from the Punjab & Sind Bank.

The CBI said that Sawant made the disbursement of the loans to STES without following the procedures and ascertaining its final use, since it later turned out that the borrower diverted it for some other purposes.

The STES also furnished bogus documents to the Central Bank Of India, including a certificate by an architect falsely showing expenses of Rs 21.20 crore towards construction of the Narhe medical campus, though no such thing was built there.

The CBI said the bank officers blatantly favoured the STES by misrepresenting the facts, did not ensure that adequate securities were in place to guard the loan, with Navale turning a wilful defaulter.

As part of the criminal conspiracy, the CBI said Navale failed to repay the loan to the bank, thus becoming a non-performing asset, causing an estimated loss of Rs 58.04 crore, plus interest.

[Horn]

Those systems closest to a local currency appear stressed to give weigh to the all pervasive dollar.

So it can reach an eventual weakness.

[cheka.]

Those systems closest to a local currency appear stressed to give weigh to the all pervasive dollar.

So it can reach an eventual weakness.

so what can reach weakness? dollar inc keeps expanding its grip as the one world currency...and its so-called competitors are pathetic controlled opposition franchises of same. see bailouts and swaps by frbny for proof. TRILLIONS in proof

[Horn]

Right, when those competitors give weigh, dollar weakness sets in.

Pathetic makes it hard for them to give that weight, either way the dollar will weaken. Once they are able to find enough avenues to print the competitor into or even if they do not. Local strife onto global afterwards with $ weaker.

[cheka.]

Right, when those competitors give weigh, dollar weakness sets in.

Pathetic makes it hard for them to give that weight, either way the dollar will weaken. Once they are able to find enough avenues to print the competitor into or even if they do not. Local strife onto global afterwards with $ weaker.

makes sense. strong dollar = strong demand for dollars. frbny should supply the dollars to meet that demand -- which could/should stabilize/lower the price

the rub is that the dollar is priced against crappy manipulated currencies which it owns/backs. absurdity x 10. skype games

[cheka.]

just a reminder....fed crimes that were swept under the rug. leaking info to their tribe

http://blog.gainesvillecoins.com/2017/04/23/how-transparent-is-the-fed/

Caught Red-handed

On top of this bit of media subterfuge, there is a bigger problem: Fed officials have (with some regularity) engaged in activity that is hardly “above board” when it comes to institutional transparency!

First, there was the recent revelation that Richmond Fed President Jeffrey Lacker confirmed (supposedly unintentionally) some insider rumors regarding the central bank’s intentions to an investment “research” firm in 2012. The firm, Medley Global Advisors, used this advance information to net millions in profitable trades. Although he maintains that he somewhat unwittingly was a party to the leak (he merely confirmed information rather than provided it), Lacker still decided to resign this month amid the controversy.

Then there was last week’s report that the Fed’s Vice Chair, Stanley Fischer, gave a behind-closed-doors speech at the think tank Brookings Institute for which no transcript was made publicly available. This not only gives the appearance of impropriety but is a glaring departure from protocol: virtually every thought uttered by a Fed official is recorded. Moreover, the policy-minded attendees of the speech are perfectly positioned to benefit from any non-public information that Fischer may or may not have provided.

[cheka.]

interesting story. did not know the swiss central bank had publicly traded shares. albeit the public shares have no say -- see bold below. the thing is up big over the last year

http://www.reuters.com/article/swiss-snb-idUSL8N1HZ6R9

Shareholders mounted an unsuccessful revolt against the Swiss National Bank on Friday for a higher payout from the central bank whose massive currency interventions helped it post a 24.5 billion Swiss franc ($24.64 billion) profit in 2016.

The Swiss National Bank, a rare central bank with listed shares, has seen a surge in interest from investors seeking alternative assets in a world of low interest rates.

Its stock has gained nearly 60 percent over the last year, but some shareholders are disgruntled with the payout that by law has been frozen at 15 francs for nearly a century.

A group of private shareholders proposed changing the bank's rules to allow a higher payment, saying the bank's foreign currency purchases had diluted the value of the Swiss franc.

"Our proposal aims to demonstrate the dilution of the purchasing power of the Swiss franc following the seven-fold increase in the SNB's balance sheet since the financial crisis," said shareholder Blaise Rossellat.

The Geneva businessman said the SNB was creating money out of thin air to buy foreign assets and not investing in Switzerland.

He said it was a perfect coincidence that SNB shares were quoted at 1,750 francs at the end of 2016, seven times more than its nominal value of 250 francs.

The SNB dividend is capped at 6 percent of its share capital of 25 million francs, allowing payment of 1.5 million francs.

For 2016 it paid 1.7 billion francs to the federal government and cantons. Remaining profit went into SNB reserves.

The rebel shareholders wanted a payout limit of 6 percent of the market value of the SNB's shares, which could have potentially increased the dividend to 105 francs.

"We are being treated as third-class shareholders," one supporter of the motion told fellow investors.


Also In Financials
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The motion was aimed not simply at a higher payout, but also to limit the central bank's foreign currency inventions and foster a debate about money creation and the effect on the Swiss economy, Rossellat said.

"The seven-fold multiplication between the historical price of SNB shares and the current market price is a symptom that something is rotten in the monetary kingdom," he said.

The SNB board opposed the motion, which was defeated with 87 percent of votes against a change. Individual shareholders' voting rights are capped at 100 votes, skewing the results. Cantons and cantonal banks control the majority.

SNB shares fell 2.8 percent to 1,845 francs by 1050 GMT.

[cheka.]

the way I understand it - china cb is publicly owned and operated. the solution that many learned anti-fed people take. this article sounds like Skype are moving toward privately owned secrecy.

china is not/hasn't been a nyc.dc enemy/competitor for a long time....despite the liars in nyc.dc claiming that. a quick google of 'most favored' destroys that lie in about 5 seconds.

anyway, get a feel for what's happening....and the massive pile of propaganda this write pumps out in support hiding what the bank is doing/wanting to do. classic Skype

http://asia.nikkei.com/Viewpoints/Alexander-Wolf/China-s-central-bank-gains-a-more-independent-voice

Alexander Wolf is senior emerging markets economist at Standard Life Investments in Hong Kong.

PBOC is assuming some independence over policy decisions, and is increasingly pursuing its mandate free of political oversight. While it is unclear how long this arrangement will last, a more independent central bank is undoubtedly positive for China's financial stability.

PBOC has quietly begun asserting its independence. The bank's monetary policy framework has evolved to include new policy rates, including open market operations and lending facility rates, and monetary policy is now largely conducted independently of official benchmark rates.

Greater leeway to flex muscles means PBOC can react more effectively to events.

...... they allow the PBOC to pursue its goals with greater independence.

PBOC can now set policy without explicit approval from the State Council, China's cabinet.

Following the recent tightening of standing lending facilities and medium-term lending facility rates, the PBOC stated that monetary operation rate hikes do not qualify as changes to policy rates -- a key indication that it is attempting to preserve its newfound autonomy.

.......will allow the bank to respond more quickly to growing financial risks, and to target excessive credit growth through more sophisticated means.

.....new tools allow policy to be more carefully calibrated and proactive. In addition, policy can be supportive of broader reform efforts. Creating a market-based approach for managing liquidity will force banks to allocate capital more efficiently.

While it is clear that the PBOC is operating with more independence, many questions remain unanswered. For example, has the party expressly given the PBOC a freer hand, or do political leaders not fully understand how policy instruments have changed?

...... it is clear that the PBOC's newfound independence is positive for financial stability in China. Having a more independent central bank does not guarantee that China will avoid financial crises or achieve sustainable growth, but giving the bank freer rein to make decisions about monetary policy will undoubtedly improve the process.

The idea has been gaining support in China. Xu Zhong, head of the PBOC Research Bureau, said in a recent paper that central bank independence needs to be addressed for the PBOC to carry out its mandate effectively. According to Xu, monetary policy independence has yet to receive the attention it deserves in government policy making.

[Horn]

Probably the case where u need a Dictator to break away from any Rothchild network, anyways.

Publicly owned to Rothchild just means more secure to direct by Rothchild. Either way a win is had unless some singular entity dictates it away from the network.

[old steel]

Panic Bank Run Leaves Canada's Largest Alternative Mortgage Lender On Edge Of Collapse
http://www.zerohedge.com/news/2017-04-29/furious-bank-run-leaves-canadas-largest-alternative-mortgage-lender-verge-collapse

Lots of shekels to be made there, on the backs of goyim canucks!

[cheka.]

Panic Bank Run Leaves Canada's Largest Alternative Mortgage Lender On Edge Of Collapse
http://www.zerohedge.com/news/2017-04-29/furious-bank-run-leaves-canadas-largest-alternative-mortgage-lender-verge-collapse

Lots of shekels to be made there, on the backs of goyim canucks!

might be useful to look at what frbny did in this situation. the 'toxic' paper was selling for 20-50 cents of face value of 1.00.

1. goldman and the other skype bought the paper for the 20-50 cents (using borrowed 'money')

2. frbny then bought the 'toxic' paper from goldman and the like for 1.00 face value

3. so let's do a math on that. goldman put up .01 dollars to buy an mbs for .30 dollars (leverage of only 30 to 1...VERY conservative for nyc skype). frbny then buys it for 1.00. what is their return? .01/1.00 = they made 100 times their money (minus interest of 1%). so 99 times their money in about 1 year all in.....and this is very VERY conservative example

[Horn]

Mexican Pesos could surpass Canadian dollars as the go to currency for Canadians.

[cheka.]

egypt getting it good and hard

http://hamodia.com/2017/04/30/imf-egypt-12b-loan/

CAIRO (Reuters) - An International Monetary Fund (IMF) delegation will arrive in Cairo on Sunday to review Egypt’s progress on economic reforms before it disburses the second installment of a $12-billion loan program, the Finance Ministry said.

As part of reform efforts, Egypt has introduced a Value Added Tax (VAT) and secured $4 billion in eurobonds from international markets in an oversubscribed issuance.

It is also part way through a program to reform power and fuel subsidies and is preparing to privatize several state owned banks and energy companies.

[cheka.]

estonia trying to tax banksters UNearned income. banksters expert opinion: dont tax us, it will cause problems for everybody....liars

http://www.baltictimes.com/estonia___s_central_bank__bank_tax_could_undermine _stability_of_the_financial_system/

According to the Bank of Estonia, the 14 per cent advance income tax on dividends for credit institutions planned by the government could result in the weakening of the financial system, cause unwanted consequences, and go against the rules of the European Union. “As the central bank, we are cautious about all changes to the legal environment that could increase risks to financial stability. This is why we see risks in the amendment described in the draft legislation, which would decrease the banks’ motivation to raise capital in Estonia,” Madis Muller

[cheka.]

kuwait banksters: if you tax us, it will hurt everyone. liars

http://gulfnews.com/news/gulf/kuwait/kuwait-central-bank-governor-opposes-taxes-on-remittances-1.2020654

Kuwait central bank governor opposes taxes on remittances

Negative consequences outweigh anticipated revenues, Al Hashel says

“The bank does not support taxes on remittances because their negative impact on the overall economy is far greater than the expected income,” Mohammad Al Hashel said.

“The remittance figures being circulated in the media are exaggerated. We must take into consideration that the imposition of such a tax entails operational and administrative costs and expatriates will most likely resort to other channels to transfer their money to their home countries in a bid to avoid paying the extra fees.”

[Horn]

http://blogs.worldbank.org/peoplemove/taxing-remittances-is-not-a-good-idea

[cheka.]

http://blogs.worldbank.org/peoplemove/taxing-remittances-is-not-a-good-idea

from horn's link:

Taxing remittances is not a good idea

[Horn]

Just shooting in the dark, cheka.

I really have not investigated it at all. So many things in this banking maze have two faces and niether all that great.

[cheka.]

Just shooting in the dark, cheka.

I really have not investigated it at all. So many things in this banking maze have two faces and niether all that great.

they are all saying same. skype want to steal it foreign, bring it home w/out paying any tax

another thing i'm seeing a lot of is blockchain digital money talk. several central banks are diving in

[Horn]

Yeah, once they allow anyone through the door to purchase bonds its all over, tax free that much better.

I imagine they only view it as a bad thing, cause it enables people to search other avenues untaxed. they want everything through the system.

So they'll figure out ways to nail it after the deposit.

[cheka.]

skype banksters won the france election, now making plans to further loot the place

http://www.reuters.com/article/us-france-election-banks-idUSKBN18410K?il=0

Paris to redouble efforts to attract Brexit banks after Macron win

"Macron's win is a sign that France is on the road to implement more structural reforms that are needed," Arnaud de Bresson, chief executive of Paris Europlace, told Reuters, estimating that Paris could attract 20,000 workers from Britain.

"Macron will personally make it his mission to convince the international banks as well as investors of the benefits of Paris," he added.

The new president is promising to overhaul the labor market and simplify the French tax and pension systems, while paring back regulations he says hamper innovation. But there is a lot of uncertainty about the likely pace of reforms, which could take months or even years to implement.

"Macron's victory will spur a redoubling in the sales pitch for Paris. They are going to go all out," a banking source at an international bank said.

A delegation from Paris Europlace, together with Christian Noyer, the former French central bank governor, will travel to the United States on May 22 and May 23 to try to persuade the financial industry there to choose Paris as their European base.

Europlace had already held about 100 meetings with large international banks as well as asset management, investment, insurance and fintech companies in London, New York, Shanghai and Tokyo, it said in March.

"Lots of banks have been waiting for the results of the election before making a decision on relocation plans and Macron's election will give a boost for the choice of Paris," said de Bresson.

He added French regulators were offering fast-track solutions to banks and asset management firms seeking the required licenses and that Macron has pledged to implement labor law reforms within his first 100 days in office.

Before the vote on Sunday, Valerie Pecresse, the head of the wider Paris region, said on Twitter that London-based firms were effectively waiting for a Macron victory to pull the trigger on relocation plans to Paris.

"If Marine Le Pen is elected 30 London-based companies ready to relocate to the Paris region have told us they would give up their plans."

Paris has a network of international law firms and asset managers and the city is also home to the European markets authority, ESMA.

"This is a fight that will get ugly, with Macron trying to attract as much business as possible away from the UK ... Macron is going to lower corporate taxes, create incentives to invest in equities, and reduce red tape. This will make Paris a magnet to wrest business away from London," said Octavio Marenzi, CEO of Opimas, a capital markets management consultancy.

[Horn]

"Before the vote on Sunday, Valerie Pecresse, the head of the wider Paris region, said on Twitter that London-based firms were effectively waiting for a Macron victory to pull the trigger on relocation plans to Paris"

London played Paris again...lol.

Most any company that is left in France will probably outsource to China now and have dough transfer through London.

[cheka.]

couple of things here - the european 'bank' investing in palestine....and palestine starting a central bank. first i've heard of a palestine central bank

http://news.trust.org/item/20170510135921-02tij

NICOSIA, May 10 (Reuters) - The European Bank for Reconstruction and Development is to start investing in the West Bank and Gaza, it said on Wednesday.

The development bank's shareholder governments approved the move which will initially last for five year and be financed with donations pooled from individual countries.

It is expected to concentrate on energy infrastructure, renewable energy and supporting private businesses.

"The EBRD can make an important contribution to the economy alongside other international financial institutions," the EBRD's President Suma Chakrabarti at the bank's annual meeting.

Chakrabarti said Israel, which is also an EBRD shareholder, had supported the move.

Speaking to Reuters, Azzam Shawwa, governor of the soon-to-be-formalised Palestinian central bank, said the EBRD's financing model and policy advice would be the main benefit.

"The whole concept took long enough but it's good that we made it and that the EBRD and others are moving into Palestine," Shawwa said.

"It is going to be something that is really supportive to the economy."

[cheka.]

israel gov declares its banks immune from funding terrorism lawsuits. this in response to USA allowing 9/11 victims to sue foreign entities?

why would israel be worried about funding terror suits?

http://www.haaretz.com/israel-news/.premium-1.766565

Jan 22, 2017 10:00 AM

Amid Fears of PA Collapse, Israeli Banks Given Immunity for Deals With Palestinian Banks

In unprecedented move, Israel also guarantees indemnity from suits filed overseas that accuse banks of involvement in financing terrorism.

The government reached an unprecedented decision last week when it granted Israeli banks that work with Palestinian banks in the West Bank immunity from lawsuits in Israel, as well as indemnity from suits filed overseas that accuse them of involvement in financing terrorism.

The security cabinet decision last Sunday was made in light of threats by the two Israeli banks to suspend working with the Palestinian banks. If this happened, it could lead to the collapse of Palestinian banks and possibly even the Palestinian Authority, a senior Israeli official said.

Last February, the Maariv weekend newspaper reported that Bank Hapoalim had informed the Finance Ministry it intended to stop providing banking services to Palestinian banks in the West Bank because of fears that Hapoalim could face criminal charges by authorities overseas – in particular in the United States – for violating laws on money laundering and funding of terrorism. These laws have been made much stricter in recent years.

Bank Hapoalim demanded that the government provide it with a way of defending itself, both legally and financially, in order to continue working with the banks.

Bank Hapoalim is the main Israeli bank working with the Palestinians and provides them with services such as clearing, guarantees and other services, which lets them receive credit overseas for importing and other needs. Israel Discount Bank also works with the Palestinian banks and joined Hapoalim in its demands.

Finance Ministry officials told the security cabinet that Azzam Shawwa, governor of the Palestinian central bank, had written an official letter in which he committed the PA to carrying out any actions required to guarantee that the Palestinian banks meet international standards concerning money laundering and the financing of terrorism.

Palestinian banks do not currently meet such international standards, a senior Israeli official said. Shawwa agreed to invite an audit from the International Monetary Fund and to implement its recommendations in order to prevent the transfer of funds for terrorism or money laundering, the Israeli official added.

A number of ministers at the meeting said the fear of the PA collapsing allows Palestinian banks to evade responsibility while continuing to transfer money to the families of terrorists. “They are relying on us to continue subsidizing them,” one of the ministers said during the meeting.

The decision is exceptional because the banks are private businesses and also, providing the Palestinian banks with these services doesn’t generate any profit; the Israeli banks are doing so only at the request of the government.

In addition, a collapse of the Palestinian banking system would lead to a shift toward more cash being used in the West Bank. This would make it even harder to prevent money laundering and the funding of terrorism.

A senior Israeli official noted that a number of weeks ago, the deputy U.S. secretary of state and the deputy U.S. treasury secretary sent official letters to Israel expressing their support for the new arrangement. They also promised to back it should a suit be filed in the U.S. against one of the Israeli banks for violation of the laws preventing the financing of terrorism and money laundering. A similar letter was passed along from senior European Union officials.

more at link..

[cheka.]

nsa skype worried about certain banks in the mid east

http://aliveforfootball.com/2017/04/us-may-have-hacked-into-me-banks/

The Shadow Brokers-the mysterious person or group that over the past eight months has leaked a gigabyte worth of the National Security Agency's weaponized software exploits-just published its most significant release yet. The releases are published with odd and misspelled blog posts, and recent posts have been critical of the Trump administration. The company has checked its servers and found no compromise or any vulnerabilities.

Hickey said it exploits Windows systems over TCP ports 445 and 139. Hackers use them to insert back doors for continued access, eavesdropping or to insert other tools. The SWIFT service bureau, EastNet, appears to have made network design choices that reduced security and would make it easy to attack all of the banks attached to the network, said Tentler. Reuters could not independently confirm that EastNets had been hacked. "It's a huge slap on the face of NSA", said Bulgarian antivirus expert Vesselin Bontchev in an email. "The threat is very persistent, adaptive and sophisticated - and it is here to stay", SWIFT said in the November letter to client banks, seen by Reuters.

The slide referred to ASA firewalls. "This is the equivalent of hacking all the banks in the region without having to hack them individually", says Suiche, founder of UAE-based incident response and forensics startup Comae Technologies. The spreadsheet indicates that the NSA was interested in Al Hilal Islamic Bank, Al Quds Bank for Development and Investment, Arab Petroleum Investments Corporation-Bahrain, Arcapita Bank, the Dubai Gold and Commodities Exchange, Kuwait Petroleum Corp., Kuwait Fund for Arab Economic Development, Masraf Al Rayan, Noor Bank, Palestine Investment Bank, the Palestine Monetary Authority, Qatar First Investment Bank, Rasmala Investment Bank, Shamil Bank of Yemen and Bahrain, Tadhamon International Islamic Bank, United Bank and a few shared servers.

And while little is known about the so-called OddJob implant, it appears to have exploits for nearly every version of Windows 2000 and later, including some server editions, some of which may still work. Four of the vulnerabilities were blocked by comprehensive updates on March 14. The exploits target a variety of Windows servers and Windows operating systems, including Windows 7 and Windows 8. The company's security systems are capable of detecting attacks against customers, and Microsoft in the past has monitored discussion about exploits on the Internet and also hired former intelligence agency veterans to help it devise programming to protect its software from encroachment. He added that NSA "completely hacked" EastNets, one of two SWIFT service bureaus named in the documents that were released by the Shadow Brokers. Besides specific data concerning specific servers, the archive also includes reusable tools to extract the information from Oracle databases such as a list of database users and SWIFT message queries.

[Horn]

Lol, we in Israel will not recognize yur Palestinian country.

Your Banking system however is very doable...

[cheka.]

no surprise here - head of frbny promotes free trade over tariffs. free trade has been a big part of nyc skype bankster looting the country

https://finance.yahoo.com/news/trumps-shadow-fed-official-says-102322567.html

MUMBAI/NEW YORK (Reuters) - Trade protectionism is a "dead end" that may score political points but will ultimately hurt the U.S. economy, one of the most influential Federal Reserve officials said on Thursday in the central bank's strongest defense yet of open borders in the face of a skeptical Trump administration.

William Dudley, head of the New York Fed, did not mention U.S. President Donald Trump by name in a speech at the Bombay Stock Exchange. But he gave a full-throated economic and even political argument for resisting trade barriers that he said would hurt growth and living standards in both the United States and around the world.

"Protectionism can have a siren-like appeal," said Dudley, a close ally of Fed Chair Janet Yellen and a key decision-maker on U.S. interest-rate policy.

"Viewed narrowly, it may be potentially rewarding to particular segments of the economy in the short term," he said in prepared remarks. "Viewed more broadly, it would almost certainly be destructive to the economy overall in the long term."

[cheka.]

this is a whopper -- rising food prices are because of food mafia, not central bank stealing via inflation. cb has 'inflation control teams'.....ha ha

http://www.bangkokpost.com/news/asean/1250654/chilli-mafia-hunted-by-bank-indonesia-for-stoking-inflation

'Chilli mafia' hunted by Bank Indonesia for stoking inflation

JAKARTA -- They’re called the chilli mafia -- a shady group of wholesalers who manipulate the price of Indonesia’s favourite spice -- and the nation’s central bankers are out to smash them.

The fact that Bank Indonesia has joined the police on the front line of fighting crime is an indication of how the archipelago nation’s economy functions, and sometimes doesn’t. The bank’s public enemy number one is inflation, which for most Indonesians is chiefly influenced by the price of food.

And in Indonesia, food means chilli.

The central bank now has more than 500 Regional Inflation Control Teams spanning every province. They feed information back to the bank’s headquarters in Jakarta, where the data is used to assess the economy and help form monetary policy.

In Balikpapan, they also grow chillies.

Civil servants in the town distribute seeds and teach farmers and households about inflation. The bank’s office in the city has its own chilli plant and even the army grows the spice “because there is no war," quips Mr Tabrani, who has become known in the city as Pak Cabe, or "Mr Chilli."

[cheka.]

syria still has their own bank

http://www.washingtonexaminer.com/house-passes-sanctions-bill-targeting-assads-foreign-backers/article/2623429

House passes sanctions bill targeting Assad's foreign backers

The legislation seeks to pressure the Assad regime by depriving it of outside support through sanctions imposed on anyone who works with critical Syrian entities such as the Central Bank and its aviation and energy industries.

by Joel Gehrke | May 17, 2017, 7:00 PM

[Horn]

House passes sanctions bill targeting Assad's foreign backers

"We want to go after the actual hardware that keeps his war machine running: the planes and bombs that terrorize the Syrian people, and the spare parts and oil that keep everything running."

At least he is forthright with his jewishness in taking control of another nation's natural resources.

He's on the "winning" team Trump.

[cheka.]

dollarskype inc attacking qatar monetary system

http://www.reuters.com/article/us-gulf-qatar-markets-idUSKBN18Z218

Qatar central bank asks for forex data as capital outflows pressure riyal

Qatar's central bank has asked commercial banks to provide it with detailed information on foreign exchange trading, banking sources told Reuters on Thursday as Doha's diplomatic rift with other Gulf states put its currency under pressure.

The riyal hit an 11-year low of 3.6530 to the dollar late on Wednesday after Standard & Poor's cut Qatar's credit rating, citing this week's decision by Saudi Arabia and the United Arab Emirates to sever diplomatic and transport ties with Doha.

The dispute, over Saudi and UAE charges that Doha supports terrorism, triggered outflows of capital from Qatar which, if they persist, could eventually make it harder for authorities to maintain the riyal's peg of 3.64 to the dollar.

The central bank's move to gather data on the currency market was in response to this concern, Qatari commercial bankers said.

"We now consider risks to external financing lines to the whole economy, including foreign direct investment, portfolio flows and to the financial sector, to be elevated, and this could lead to pressure on Qatar's pegged monetary arrangement," said S&P.

The sources said banks in Qatar were asked to provide daily information on their foreign exchange trading, a daily statement of withdrawals and transfers from deposits worth at least 10million Saudi riyals ($2.7 million), and daily data oncash withdrawals and deposits. Previously, banks were generally required to provide such information monthly. The central bank also asked banks to supply on a weekly basis a breakdown of their customer deposits by maturity and type from Gulf Cooperation Council countries, Egypt and other countries, the sources said. The central bank did not respond to requests for comment.

The riyal rebounded to trade much closer to its peg in the spot market on Thursday; some traders said the central bank was supplying dollars to banks which wanted to close out their riyal positions, in order to avoid downward pressure on the currency.

"There’s some stress in the Qatari riyal currency market but it’s too early to talk about pressure on the Qatari peg," said a UAE treasury banker, who like most bankers declined to be named because of political sensitivities.

S&P estimated the government's liquid external assets were worth 170 percent of gross domestic product, a massive amount equivalent to nearly 10 years of the country's imports - a much higher degree of backing for its currency than most countries.

TENSION

Nevertheless, there were other signs of tension in Qatari financial markets on Thursday. The riyal remained under pressure in the offshore forwards market, which banks use to hedge against future moves in the currency.

The cost of buying insurance against a Qatari sovereign debt default hit a seven-month high, and the cost of borrowing three-month riyal funds in the interbank market jumped to 2.16 percent, the highest in at least several years - a sign nervous banks were holding back funds.

more at link...