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Banks inter lending Freezes, not lending to each other again!


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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.

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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"

 

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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

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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.   

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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.

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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?

 

 

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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.

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"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

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  • 441 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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