“The agreement … to expand the IMF’s capacity to assist low-income countries are hit hard by the current global crisis,” said financial institution based in Washington.

The agreement reached with authorities in Japan, Britain, France and China.
Japan is the largest contributor to the package, promised 2.7 billion dollars through the purchase agreement that gives funds (IMF) “ leverage for a loan. Britain pledged two billion dollars and Bank of China pledged 1.2 billion U.S. dollars.

France’s central bank signed a loan agreement of two billion U.S. dollars.
The announcement came a day before the UN summit which is expected to highlight the lack of progress on the so-called Millennium Development Goals.

The purpose of this program include the reduction of poverty by half, cutting the number of hungry people by half, ensuring universal primary education and reducing child mortality two thirds by 2015.

The details, the three banks at the Bank of Ellijay Georgia with assets amounting to 168.8 million U.S. dollars, First Commerce Community Bank of Douglasville with assets amounting to 248, 2 million U.S. dollars and Peoples Bank with assets amounting to 447.2 million U.S. dollars.

Meanwhile, three other banks namely ISN Bank in New Jersey with assets 81.6 million U.S. dollars, Bramble Savings Bank of Milford in Ohio with assets amounting to 47.5 million U.S. dollars and Maritime Savings Bank based in Wisconsin. This last bank with assets 350.05 million U.S. dollars. United States Deposit Insurance Corporation, neither the Federal Deposit Insurance Corp. (FDIC) has taken over the six banks.

With the revocation of three licenses of banks in Georgia is the number of banks are frozen this year to 14. The reason for a lot of bad property loans.

The number of banks that collapsed this year is expected to reach its peak. The amount is estimated at more than a year ago that about 140 pieces from the global financial crisis.

Last year, the FDIC must issue a fund of 30 billion U.S. dollars.Due to many major banks collapse, the FDIC shall disburse the funds are great.

In fact, the FDIC last year’s financial statements are in the red zone and a deficit of 20.7 billion U.S. dollars to 30 June. FDIC estimates the cost to make healthy banks from 2010 to 2014 amounted to 60 billion U.S. dollars.

]]> http://www.aworldafilm.com/six-u-s-bank-licenses-revoked/feed/ 0 http://www.aworldafilm.com/cimb-niaga-lead-92-7-million-loan-syndication-u-s-dollar/ http://www.aworldafilm.com/cimb-niaga-lead-92-7-million-loan-syndication-u-s-dollar/#comments Tue, 16 Feb 2010 14:00:10 +0000 sapto http://www.aworldafilm.com/?p=395 PT Bank CIMB Niaga Tbk as the mandated lead arranger along with participating banks syndication, namely PT Bank Mega Tbk and PT Bank Resona Perdania, provide credit facility to PT NAP Info Lintas Nusa (NAP Info) worth 92.7 million U.S. dollars. This credit facility is used to take over financing the construction of fiber-optic cable along the 1055 km from Jakarta to Singapore, called the Matrix Cable System.

The statement was made Vice President Director of Bank CIMB Niaga Cathterine Hadiman, Tuesday (15/12/2009) in Jakarta. NAP Info is the owner of the company’s fiber-optic cable under the sea with a capacity of 2.56 terabytes and has started its commercial activities for the sale of Matrix Cable System since August 2008.

Telecommunications is one of strategic industry and growing rapidly in Indonesia. As a country that has a population of 4 numbers in the world’s largest, the growth potential of this industry is still quite large in the future. NAP Info as a company that support the telecommunications industry is certainly the development prospects also have a very good.
Currently, 77.24 percent of Bank CIMB Niaga’s shares owned by CIMB Group which is the largest financial service providers both in Malaysia. Based in Kuala Lumpur, CIMB Group has regional offices in Singapore, Indonesia, and Thailand. CIMB Group has a market capitalization of nearly 36.6 billion ringgit Malaysia as of 1 September 2009.

With the market price on Wednesday of about 1120 U.S. dollars per ounce, gold is sold it will be worth nearly 6.9 billion U.S. dollars, as quoted by AFP.

The IMF “will soon start the program on the market gold sales” of a total of 403.3 tons, which was approved for sale in September, said the agency headquartered in Washington, it said in a statement.

Initial stage was set along with exclusive sales outside the market to public entities, such as the central bank, which included the IMF’s 186 members.

Combined has sold 212 tons in the first stage, more than half of the total approved, quickly taken by the central bank of India, Mauritius and Sri Lanka.

India, the first customer, bought 200 tons, followed by Mauritius (two tons) and Sri Lanka (10 tons).

The IMF said that 212 tons of gold were sold outside the market was worth 7.2 billion U.S. dollars, which produces a profit of about 4.5 billion U.S. dollars compared with the assumption that the gold price when the sale was approved.

The average price of gold is sold outside the market for 1050 U.S. dollars per ounce, higher than the price at the time of registration for 850 dollars.

About what to do with the extra revenue, Andrew Tweedie, finance director of the IMF, said in a statement that “might be too early to speculate,” considering the existence of gold would be sold.

“We still need to see what happens with the price of gold during the second half before selling we can conclude that we have additional revenues.”

Underlined that the IMF gold sales are still available for state entities. ”Initiation of sales in the market does not preclude the sale of gold outside the market that directly back for the sake of the central bank or other authority,” he said.

IMF members agreed in 2008 that the institution is able to sell an eighth gold assets in order to diversify its financial model so that the institution is no longer dependent on lending.

Profits from the sale will be used to create a bulwark that create income that is part of the IMF’s income model is changed.

“In accordance with the priority on the avoidance of interference gold market, sales in the market will be implemented in stages, in line with the approach used by central banks to avoid market disruptions,” the IMF said.

Certain banks that participate in the Central Bank Gold Agreement (Central Bank Gold Agreement) said the IMF gold sales can be accommodated under the approved ceiling of 400 tonnes and 2000 tonnes per year in total in the five years starting on September 27, 2009.