goldbug9999 Posted February 11, 2018 Share Posted February 11, 2018 6 hours ago, jiltedjen said: It was the ‘preppers’ website that really put me off to thinking this is not significant. Acid test: if it appears on zero hedge then you know its ********. Quote Link to comment Share on other sites More sharing options...
bear.getting.old Posted February 12, 2018 Share Posted February 12, 2018 Yes I'd sound a cautionary note on this. Far too early to think this is happening. On the internet, in the last 5 years or so there seems to be a massive increase in 'stories' designed to sway people one way or the other, often into something fake or untrue for the purposes of profiting from it. Be it panic into gold, or just getting youtube views for money. Quote Link to comment Share on other sites More sharing options...
advicewelcome Posted February 12, 2018 Share Posted February 12, 2018 Interesting when you see job postings like this appearing. They may have the plans and people already - but why need to hire now?... "RRP Business Analyst - Investment Banking - Recover and Resolution Planning As a member of the banks Recovery and Resolution Plan - you will be a key participant in the banks Resolution and Recovery Plan (RRP) effort. A Recovery and Resolution Plan or living will is a blueprint for saving or winding down a troubled bank without causing harm to retail depositors or the financial systems, and without relying on public funds. As a RRP Business Analyst, you will lead the book of work around business wind down financial modelling and forecasting, and partner with Finance, Risk, COO, and Front Office subject matter experts to drive delivery of associated supervisory reporting requirements. Key responsibilities include: You collect requirements for unwind assumptions (mostly for derivatives and trading inventory) and design improvements to the process You assist the lines of businesses in maintaining market depth assumptions by relying on historical analysis You coordinate the collection of unwind assumptions and perform completeness and accuracy controls You coordinate the production of methodology and results documentation for balance sheet, revenues and cash flows from unwind activities as well as RRP plan narratives You help produce management information (MI) related to portfolio unwind to support review and challenge You support model development, model execution, and reporting on an ad hoc basis You Offer At least six years of combined financial services experience in areas of treasury, liquidity management, FP&A, regulatory reporting, systems analysis, and/or project management; investment banking and capital markets experiences are preferred A solid analytical mindset: ability to analyze specific business problems, propose potential solutions, and participate with confidence in discussions around the most appropriate recommendation Strong Microsoft Excel and PowerPoint skills Excellent writing and verbal communication skills Strong track record of working in teams and collaborating on large projects with multiple stakeholders Previous Recovery and Resolution Plan experience is a plus" Quote Link to comment Share on other sites More sharing options...
moneyscam Posted February 12, 2018 Share Posted February 12, 2018 5 minutes ago, advicewelcome said: Interesting when you see job postings like this appearing. They may have the plans and people already - but why need to hire now?... "RRP Business Analyst - Investment Banking - Recover and Resolution Planning As a member of the banks Recovery and Resolution Plan - you will be a key participant in the banks Resolution and Recovery Plan (RRP) effort. A Recovery and Resolution Plan or living will is a blueprint for saving or winding down a troubled bank without causing harm to retail depositors or the financial systems, and without relying on public funds. As a RRP Business Analyst, you will lead the book of work around business wind down financial modelling and forecasting, and partner with Finance, Risk, COO, and Front Office subject matter experts to drive delivery of associated supervisory reporting requirements. Key responsibilities include: You collect requirements for unwind assumptions (mostly for derivatives and trading inventory) and design improvements to the process You assist the lines of businesses in maintaining market depth assumptions by relying on historical analysis You coordinate the collection of unwind assumptions and perform completeness and accuracy controls You coordinate the production of methodology and results documentation for balance sheet, revenues and cash flows from unwind activities as well as RRP plan narratives You help produce management information (MI) related to portfolio unwind to support review and challenge You support model development, model execution, and reporting on an ad hoc basis You Offer At least six years of combined financial services experience in areas of treasury, liquidity management, FP&A, regulatory reporting, systems analysis, and/or project management; investment banking and capital markets experiences are preferred A solid analytical mindset: ability to analyze specific business problems, propose potential solutions, and participate with confidence in discussions around the most appropriate recommendation Strong Microsoft Excel and PowerPoint skills Excellent writing and verbal communication skills Strong track record of working in teams and collaborating on large projects with multiple stakeholders Previous Recovery and Resolution Plan experience is a plus" All banks have to prepare "living wills" and have the people, systems and processes in place to manage a banking failure. It's the response of the regulators to GFC and the systemic risk of the banking system, As these rules have now been more or less finalised affected companies have to start implementing them so it's not unusual to see them hiring for this area. Long read but gives a detailed explanation here. http://www.cms-lawnow.com/-/media/files/regzone/reports/regzonepdfreports/livingwillsbr.pdf Quote Link to comment Share on other sites More sharing options...
advicewelcome Posted February 12, 2018 Share Posted February 12, 2018 1 hour ago, moneyscam said: All banks have to prepare "living wills" and have the people, systems and processes in place to manage a banking failure. It's the response of the regulators to GFC and the systemic risk of the banking system, As these rules have now been more or less finalised affected companies have to start implementing them so it's not unusual to see them hiring for this area. Long read but gives a detailed explanation here. http://www.cms-lawnow.com/-/media/files/regzone/reports/regzonepdfreports/livingwillsbr.pdf .. makes sense and maywell be the driver. I suppose there is paranoia in the air; there was not a lot of 'heads-up' to the average man on the street (who found himself queuing up outside of Northern Rock in the last crash). They don't tell us when things are going down, I assume top-down led Financial Institutions keep it stum to stop a run, so when it goes everyone vested in gets hit . There is a whiff of an inflection point after 10yrs QE/ZIRP and we are all left wondering what will break and where... and who will get burnt. Quote Link to comment Share on other sites More sharing options...
frankvw Posted February 12, 2018 Share Posted February 12, 2018 Interbank and CDS are things I regularly check. Can't say I see an imminent 2008 moment, at least right now, but there's definitely potential all right. One thing I have noticed over the past six months is all these FCA Protection Scheme notices outside the branches. First noticed it on my own branch few months back, it is bigger and more prominent than before. So started looking at the other banks, yup, they all seem to have the new, larger, upgraded FCA, signs posted outside. Probably means nothing though. Quote Link to comment Share on other sites More sharing options...
bear.getting.old Posted February 12, 2018 Share Posted February 12, 2018 There are more leaflets now explaining that you have a total of protection under the various brands of the banking group. Whenever you open an account you get sent these leaflets. Quote Link to comment Share on other sites More sharing options...
advicewelcome Posted February 12, 2018 Share Posted February 12, 2018 1 hour ago, frankvw said: We probs had no protections in the last crash - but no one lost a penny (or so the Gordon Brown gov said at the time) - this time the balance over the FSCS 85k per person, per licensed bank is not protected. Curious to know if Paypal balances are protected under FSCS to the tune of 85k as well? Quote Link to comment Share on other sites More sharing options...
frankvw Posted February 12, 2018 Share Posted February 12, 2018 Interesting. I would say not, even if you are using your paypal as your primary fund source. Probably not the account transfer, as that is viewed as a transaction, paypal wallet balances themselves are not registered as bank balances so I guess would not be FCA covered. Paypal is also not covered for creditcard insurance schemes. If you purchase online using a credit card as the primary fund source or, if you don't have a paypal account and use the one-time credit card transaction method to pay, your credit card company does not cover any transaction disputes under the consumer credit act. Even though you paid with a credit card because your transaction was with Paypal, not the vendor. Whether that is fraud, non-delivery, inaccurate product description, etc. Will be more interesting still in the future since crypto currencies and paypal, google pay, apple pay, all the vying for the online transaction and digital wallet methods that are sure to morph and merge into some future 'super' digital currency. Quote Link to comment Share on other sites More sharing options...
micawber Posted February 14, 2018 Share Posted February 14, 2018 "There have been some structural changes to that data in addition to the corrections. More information can be found at https://www.federalreserve.gov/feeds/h8.html The Interbank Loans have been discontinued and we are confirming the validity of the last value in that series. Sincerely, FRED Team" https://www.themaven.net/mishtalk/economics/interbank-loan-series-update-message-from-fred-7MGNAaQhPk-9xdm5lGw1Xg Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.