Chibuzor O.’s Post

Since the banking recapitalisation began, the SEC has played a significant role in helping banks meet regulatory requirements and work towards the goal of a trillion-dollar economy. This was highlighted by Emomotimi Agama, DG Securities and Exchange Commission (SEC), in his address at the Afrinvest 2024 Banking Sector Report Launch. Catch the full speech: bit.ly/3WP4qxo #BSR2024 #NigeriaEconomy #BankRecapitalisation #BankingSectorReport

EBA has just released its Q4 2023 quarterly dashboard on MREL: - 307 out of 333 banks met their MREL targets as of 31 December 2024. - 23 banks were granted a transition period beyond 1 January 2024, with a combined outstanding shortfall of EUR 8.0bn. - The number of banks earmarked for resolution has increased, essentially driven by small banks moving from liquidation to resolution. - Bail-in is the preferred strategy in terms of RWAs but transfer is preferred in terms of number of banks

“The assets and liabilities sides of the banking sector balance sheet each shrinks by $1 trillion.” As we know “each” is a singular pronoun; therefore, as a subject, it takes a singular verb. This is true whether “each” acts as a subject itself or it is an adjective (as in “each member”). However, a less-common subject is “a plural noun + each”, which takes a plural verb. In the above example, the subject is “the assets and liabilities sides of the banking sector balance sheet”. The head noun is “sides”, which is plural. The construction therefore is “a plural noun + each”. The verb should be plural. Therefore, the corrected version of the sentence is “The assets and liabilities sides of the banking sector balance sheet each shrink by $1 trillion.” If you are not sure about identifying the head noun in a noun phrase, here is our blog post explaining this concept: https://lnkd.in/gHWjFMdg #sva #agreement #subjectverbagreement #nounphrases

𝐓𝐫𝐮𝐬𝐭𝐁𝐚𝐧𝐜 𝐖𝐞𝐞𝐤𝐥𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐨𝐮𝐧𝐝𝐮𝐩, 𝟓𝐭𝐡 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟒. 𝐌𝐨𝐧𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: On Friday, the system liquidity deficit expanded by 6%, to close at ₦1.42trn. Throughout the week, local banks battled with scarce liquidity due to the combined impact of CRR debit, NNPC debit, and FX sales settlement. To meet short-term funding needs, DMBs withdrew an aggregate of ₦5.39trn through the CBN’s Standing Lending Facility (SLF) window. As a result, interbank funding rates traded at elevated levels all week – 32%. In the coming week, NTB auction settlement will exert additional pressure on liquidity levels mid-week. However, the anticipation of OMO maturities valued at ₦450bn may provide a light cushion for DMBs. 𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐝𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐞𝐥𝐨𝐰. #banking /#investment /#brokerage /#wealthmanagement

Nacha 2024: What Mid-Market #Banks & #CreditUnions Need to Know New #Nacha rules will require risk-based #ACH transaction monitoring by both originating and receiving financial institutions by 2026. The updated guidelines aim to enhance the identification and return of funds sent due to credit-push payment frauds. Join our session to delve into what these rules entail in practice and discover how mid-market and small banks along with credit unions can effectively prepare for the upcoming changes. #Banking #Finance #ACHTransactions #RiskManagement

#SUERFpolicybrief “Do Banks Worry About Attentive Depositors? Evidence from Multiple-Brand Banks” by Matthieu Chavaz (Bank for International Settlements – BIS) and Pablo Slutzky (University of Maryland) Panic-based (non-fundamental) spikes in depositors’ attention can be a source of bank fragility in theory, but separating such spikes from underlying fundamentals is challenging empirically. Using online search data, we show that during the Global Financial Crisis, UK banks facing surges in attention respond by increasing retail deposit rates, but only for instant withdrawal deposits. Exploiting variation across brands owned by the same bank (and thus sharing the same fundamentals), we find that banks respond even when surges are not justified by fundamentals. In addition, comparing onshore and offshore deposits by the same brand, we show that bank response is substantially stronger when the lack of deposit insurance and a larger presence of wholesale depositors magnifies potential losses to depositors. https://lnkd.in/dVNwPcFS #InformationAcquisition #DepositInsurance #BankingCrises

The banks that failed in the spring of 2023 were outliers that violated some of the golden rules of banking, but many investors continue to unfairly paint the bank group with a broad brush, says KBW CEO Tom Michaud in the latest episode of S&P Global Market Intelligence's "Street Talk", hosted by Nathan Stovall. In the episode, Michaud discusses the drivers of bank failures in 2023 and the idiosyncrasies of those institutions. He further addresses the regulatory response to the liquidity crunch, reiterates a call for deposit insurance reform, and highlights the resiliency and health of the overall banking industry today. Take a listen!

The competition has began! 31/07/2024 BOA = 79.8507 - 82.2462 CBE = 77.128 - 78.6706 BOA's Buy Rate is bigger than CBE's Sell Rate is bigger than Cash Selling by $ 1.1801. Is that possible to buy the USD from the CBE and sale it to the BOA, Bank or customer level? A lot confidence from the BOA. Interesting! Means the foreign Banks can buy the whole Cake 7.3B, when assume Banking operation.

As we get closer to interest rate cut, some banks have been offering special rate fixed deposit schemes. Note that these special rates are for a shorter tenure. And many of these FDs will be discontinued after September 30. Hiral Thanawala writes moneycontrol.com

💸 European Banking Authority (EBA) has extended its #guidelines on #moneylaundering and #terroristfinancing to #cryptoasset service providers. Read The Paypers to discover more: https://bit.ly/3SmAENd #thepaypers #cryptonews #financialnews #regulation #AML #CFT