Los administradores de TransicionEstructural no se responsabilizan de las opiniones vertidas por los usuarios del foro. Cada usuario asume la responsabilidad de los comentarios publicados.
0 Usuarios y 3 Visitantes están viendo este tema.
El BCE 'obliga' a Sabadell, Caixa y Bankia a la venta masiva de hipotecas impagadasEl supervisor penalizará por créditos impagados provisionados por debajo del 60%, y el requisito irá subiendo. Los banqueros calculan cuánto pueden vender o provisionarCuenta atrás para que los bancos se deshagan de parte de su activo tóxico, mejoren el colchón de provisiones o sufran un impacto negativo en el capital. La guía sobre dudosos del Banco Central Europeo (BCE) se activa este año, como confesó Banco Sabadell en su presentación de resultados anuales, aunque afectará a todo el sector.El supervisor penalizará en capital el crédito que haya entrado en mora en 2018 o posteriormente y tenga provisiones inferiores al 60% si hay garantía, como ocurre en las hipotecas. El año que viene, se pedirá una cobertura del 70%, que irá subiendo linealmente hasta exigir el 100% en 2023. Mientras que si no tiene colateral, como el crédito al consumo (‘unsecured’, en la jerga), entonces se penaliza toda la morosidad no cubierta en un 100%.
La CNMC abre un expediente a Idealista y otras seis plataformas por pactar preciosIdealista ha respondido al expediente sancionador de la CNMC "negando tajantemente cualquier participación en las prácticas investigadas" y asegura que colaborará "estrechamente con la CNMC en todo el proceso de la instrucción del expendiente y su resolución final". El portal inmobiliario señala que "no establece o altera jamás ni los precios ni las condiciones comerciales". La empresa asegura que no participa en la formación de precios en el mercado inmobiliario, y que son los propietarios quienes establecen los precios del alquiler y de la venta."Idealista es exclusivamente un proveedor de servicios tecnológicos y no interviene nunca en las operaciones que se realizan a través del portal inmobiliario", sentencia la empresa en un comunicado. No dice nada, sin embargo, de la acusación de la CNMC a la empresa de la supuesta alteración de precios en las tarifas que ofrece a sus clientes, esto es, el coste de los anuncios o las comisiones aplicadas a las inmobiliarias.
https://www.elconfidencial.com/empresas/2020-02-20/bce-banca-sabadell-caixabank-bankia-dudosos_2462096/CitarEl BCE 'obliga' a Sabadell, Caixa y Bankia a la venta masiva de hipotecas impagadasEl supervisor penalizará por créditos impagados provisionados por debajo del 60%, y el requisito irá subiendo. Los banqueros calculan cuánto pueden vender o provisionarCuenta atrás para que los bancos se deshagan de parte de su activo tóxico, mejoren el colchón de provisiones o sufran un impacto negativo en el capital. La guía sobre dudosos del Banco Central Europeo (BCE) se activa este año, como confesó Banco Sabadell en su presentación de resultados anuales, aunque afectará a todo el sector.El supervisor penalizará en capital el crédito que haya entrado en mora en 2018 o posteriormente y tenga provisiones inferiores al 60% si hay garantía, como ocurre en las hipotecas. El año que viene, se pedirá una cobertura del 70%, que irá subiendo linealmente hasta exigir el 100% en 2023. Mientras que si no tiene colateral, como el crédito al consumo (‘unsecured’, en la jerga), entonces se penaliza toda la morosidad no cubierta en un 100%.
Es ahora, cuando se abre investigación por la Autoridad de Competencia y Mercados (CNMC). La interpreto como 'OFICIALIZAR' el 'ARTIFICIO' del NO-MERCADO INMOBILIARIO, mientras se resquebraja visiblemente, como muralla ladrillera de Jericó al son de las trompetas.
Les están avisando que el Sector Público no está sometido a las leyes de competencia.
Is the Federal Reserve going to buy stocks?what is very conspicuous on the graph is that the current level of interest rates stands at 1.75%. Does that mean the Fed will cut rates to -3.75% in the next economic decline? Not necessarily. US policymakers are fully aware of the adverse consequences of negative rates, especially considering that the dollar is a reserve currency. They probably know that this policy would implode the global economy. In fact, only economic charlatans such as Ben Bernanke are not ruling out this option.In QE a central bank purchases assets such as government bonds and mortgage-backed securities (similar assets to bonds that are made up of a bundle of home loans) in case of the Fed (other central banks buy also other assets) from primary dealers (big commercial banks such as JP Morgan) in exchange for created reservers. Bank reserves are its cash holdings, that are physically held by the bank, as well as deposits held in the bank's account (like a deposit account) with the central bank.It is important to note that those commercial banks are allowed to create loans for roughly ten times the amount of reserves. Thus, in theory, more reserves mean more loans available in the economy. In effect, the money supply in the financial system increases.In other words, a central bank creates money out of thin air and buys assets from banks. This is why it is commonly called as 'money printing' or 'liquidity injections'. By buying those assets, the central banks also lower longer-term interest rates as a result of which credit is more affordable for banks, companies, and consumers.Currently, the Fed's balance sheet accounts for more than 19% of GDP. If you think that more than 50% is impossible, look at the European Central Bank (ECB - purple) and Bank of Japan (BOJ - white) ratios.The ECB's total asset to GDP ratio is more than 40%, the BoJ's almost 103%. While looking at this chart, those scenarios seem to be more realistic. Yet, that's not everything. If the Fed would try to expand its Balance Sheet in that very aggressive way, it would lead to other implications that have to be considered.If the US Central Bank would have to increase its balance sheet to $8.6 trillion or $12 trillion it would probably have to also contemplate purchasing other assets than US Treasuries and Mortgage-Backed Securities (MBSs).Simply because of the size of the bond market. Currently, the US Bond Market Capitalization is roughly $41 trillion, including $14 trillion of US Treasuries and $9.2$ trillion of mortgage-related bonds such as MBSs.(...) As Reuters reported in September 2016, the Fed Chair on that time, Janet Yellen said:“It could be useful to be able to intervene directly in assets where the prices have a more direct link to spending decisions,” she said, adding that buying equities and corporate bonds could have costs and benefits.It means only one thing, she has considered buying stocks and corporate bonds to combat the next economic downturn. Yet, this is nothing new, during the Great Financial Crisis, that idea was also on the table but fortunately, it was firmly rejected. Also, this activity is prohibited by the Federal Reserve Act. Sadly, in case of an economic downturn, it will probably be quickly amended. Moreover, as my above analysis shows, if the Fed still wants to push on a string it will have no other choice than buying those assets, otherwise, it will become the major player on the government bond market funding the US Government spending by creating money out of a thin air. There is also another option, government, and central banks' coordination. This, however, may undermine the central bank's independence (a topic for another article).
Who Bought the $1.3 Trillion in Debt the US Government Added to its $23-Trillion Pile in 12 Months?Treasury securities are hot. The Fed backed up the truck. US banks & others bought too. But China dumped.This debt exists in form of Treasury securities, and each of these securities was bought by some entity in the US or in some other country. These entities fall into five broad categories: Foreign holders; the Fed; the US government via government pension funds and the Social Security Trust Fund; US commercial banks; and other US institutions, companies, and individuals
Seguramente el coste del anuncio y por tanto beneficio de Idealista, dependa en parte del precio de la vivienda anunciada. El anuncio de un chalet de 2 millones debe generar más beneficios que el de un chabolo, y creo que la CNMC se refiere a ese "interés" en gestionar anuncios de viviendas caras. TODOS los algoritmos -especialmente el de Hacienda - viven de "la gran clase media paretiana (80/20)" lo cual redundaría en beneficios crecientes con viviendas medias de anuncios caros, y los anuncios caros se consiguen con precios caros.Queda demostrar la existencia del cártel y que aparezca ese acuerdo que investiga la CNMC.En cualquier caso, como dice Jenofonte:CitarEs ahora, cuando se abre investigación por la Autoridad de Competencia y Mercados (CNMC). La interpreto como 'OFICIALIZAR' el 'ARTIFICIO' del NO-MERCADO INMOBILIARIO, mientras se resquebraja visiblemente, como muralla ladrillera de Jericó al son de las trompetas.Y esto es para mi lo relevante.Unido a esta frase de Saturno:CitarLes están avisando que el Sector Público no está sometido a las leyes de competencia. Una cosa es lo más importante hasta que deja de serlo.Quizá haya llegado el momento.
Europa lanza su revolución digital para enfrentarse a EE.UU. y ChinaBruselas desvela su estrategia en datos industriales e inteligencia artificialLa Unión Europea quiere imponerse en la nueva era, la de los datos industriales. “La guerra por los datos industriales empieza ahora. Y Europa será el principal campo de batalla”, declaró el comisario europeo de Mercado Interior, Thierry Breton, al presentar dos piezas separadas pero complementarias que deben marcar la estrategia de la UE en este terreno, como tratar los datos y la inteligencia artificial.“Queremos que la transformación digital dé poder a nuestra economía…la inteligencia artificial no sólo mejora nuestras vidas, sino que la UE es líder en esa área”, dijo la presidenta de la Comisión Europea, Ursula von der Leyen, para añadir que Europa quiere “atraer más de 20.000 millones de euros al año para invertir” en inteligencia artificial. La Comisión Von der Leyen inició su trayectoria con dos grandes prioridades, la transformación ecológica y la revolución digital. Prometió presentar sus estrategias en los primeros cien días de mandato y lo está cumpliendo, aunque sus planes de ayer en tema de datos e inteligencia digital son un primer paso con muchos elementos por precisar.
Factbox: How the next EU budget will tackle climate changeEU leaders meet in Brussels on Thursday to haggle over the bloc’s next seven-year budget, a hole of up to 80 billion euros ($86.3 billion) created by Brexit, and the need to finance initiatives including the 1 trillion euro European Green Deal. 25% OF SPENDING FOR CLIMATE Michel wants at least a quarter of 2021-27 spending to further climate goals, including the ultimate ambition to make the EU “climate neutral” by 2050. That would equate to 274 billion of his proposed total budget of 1.095 trillion euros - an increase from the 2014-20 budget, in which 20% of spending was earmarked for climate. PRESSURE ON POLAND Michel’s proposal sets aside 7.5 billion euros for a “Just Transition Fund” to help emissions-intensive regions and sectors shift away from fossil fuels. But this comes with a caveat: member states that have not signed up to a national objective of climate neutrality by 2050 will only get half of their share. This is aimed at Poland, the only member state that refused to commit to the 2050 climate neutrality goal at an EU summit in December but which had been set to get 2 billion euros of the 7.5 billion on offer, making it by far the biggest beneficiary. AGRICULTURE Agriculture spending would become greener as Michel wants 40% of the Common Agricultural Policy (CAP) budget to be dedicated to climate action. The CAP would make up nearly a third of the total 2021-27 budget under Michel’s proposal. To deliver this, the EU will launch a “new environmental architecture” for farming subsidies, while rural development projects with a climate angle will get access to a higher co-financing rate from the bloc. CARBON TRADING, PLASTICS TAX Michel wants the EU budget to be part-funded by a tax on plastic waste and funds from the EU carbon market. The tax on plastics would be 0.8 euro per kilogram of non-recycled plastic packaging waste, while a chunk of revenue from the EU Emissions Trading System (ETS) would be redirected to EU coffers. EUROPEAN INVESTMENT BANK The subscribed capital of the EIB would increase by 100 billion euros, helping mobilize 500 billion euros of additional investment to meet climate targets and digitize its economy.
CitarEuropa lanza su....
Europa lanza su....
El-Erian: Biggest Risk to ‘Dream’ Market Is Change in Central Bank Support“It’s living the dream. It’s what we had for the whole of last year. We get great returns on risk assets. We get good returns on risk-free assets and we get no volatility. It is living the dream… It’s about faith in central banks’ ability and willingness to keep supporting this. And if that changes, more than the data, I think this market will absorb data surprises one after the other, but if there is shaken confidence in willingness and ability…”
To Tackle Inequality, We Need To Start Talking About Where Wealth Comes FromThis means recognising that wealth creation is a collective process involving many different interdependent stakeholders – workers, the government, the natural environment, civil society, and, yes, entrepreneurs. It means highlighting how the mechanism linking contribution and reward for each of these stakeholders is fundamentally broken: workers are being paid less than the value they create, owners are appropriating wealth they didn’t create, vast profits are being made by destroying our ecosystems, and the role of the state in wealth creation is undervalued. And it means proposing new mechanisms for distributing financial rewards that more accurately reflect the collective nature of wealth creation, and rebalance power between capital and labour.(...)Where people’s wealth comes from matters. If people can be persuaded that Britain isn’t quite as meritocratic as it’s made out to be, public attitudes towards wealth can be shifted in a more progressive direction. Indeed, the authors of the Trust for London report conclude that “if policy makers wish to address inequality, they may do better to think in terms of narratives of how riches are acquired”.These narratives won’t change overnight. But they won’t change at all unless progressives fight to change them – just as Margaret Thatcher did in the 1980s.This doesn’t mean criticising people’s natural desire to earn more money, or attacking successful business owners who treat their employees and the environment well. But it does mean drawing attention to the fossil fuel executives who are enriching themselves by destroying the planet; the bankers who cashed-in on the crisis they caused; the aristocrats who live off their ancestors’ ill-gotten gains; and the exploitative bosses who underpay their staff.In politics you can either shape the world, or be shaped by it. On this issue, there’s no middle ground.