, state banks were less. have always been the bank of the last hope, and uh, returning to the previous question, it seems to me that the entire banking system is actually the bank of the last hope now because of the full guarantee, and i would also like to mount the actual funds which there are now more than 8 billion hryvnias in his account. in his past life, two or three years ago, the amount of funds was in the region of less than a million hryvnias. the ministry of finance withdrew funds from there. er, a significant amount, and this is in the event that one or more banks become not averse to able er. it is possible that the fund will be ready to pay out funds in full and very quickly, that is, in fact, the form of guaranteeing deposits has become such a fund of the last the hope is that the alternative to the imf, not some individual bank, and all banks on equal terms, sums up this topic, let's move on to another, the committee of the verkhovna rada on finance, tax and customs policy supported the draft

he went to the bank, you sent it to the bank many times the bank didn't nothing. he did what he's doing, you know, clearly very tense and frustrating situation there. and dana, this isn't the 1st time this has happened in lebanon. he says, no, a few months ago, a depository as well, storm the bank arm, demanded his money. he did get the $50000.00, but he was later in prison. but a few months later he was released. people are angry if you talk to anybody here, they tell you their stories. i can't paper the hospital because i cannot buy medicine for my brother. i need the my money, which is trapped in the bank. so really, the economic crisis has impoverished the population, 80 percent of the population. the local currency has crashed. it has the value of the staple is collapsing the states, the services. there is a breakdown of states services, no electricity. so if you don't have money to pay for private generators, then you live without electricity. and you know, all this is happening at a time when the politicians are doing nothing to reverse the economic collaps

29-7%, this is stated in the review of the banking sector of the national bank of ukraine and a quote from the bank they started recognizing non-performing loans of the corporate segment, at the same time in the retail segment , the level of coverage of the working portfolio with reserves is increasing, by mykhailo, can you decipher what it is about, well, in simple words for those who did not study economics at the university, what happened, the war brought a lot of grief and brought a lot of negative things to the economy, e borrowers e- if they experience difficulties in repaying and servicing their loans, banks should reflect this in their financial statements through recognition of losses, that is, they do not expect full repayment of this loan in the future. and this is problematic for banks, because it reduces their capital and there is a risk that the capital will fall to a level below which it is not possible to work for the bank, in principle, such an agreement is unprofitable this is what the nbu took upon itself, that is, during the period of martial law, it will not withd

bank of some kind. well, let's say as a bank of last hope , and there is the international monetary fund as such a fund of last hope for countries in crisis, and oschadbank was such a bank there very it was often explained that precisely for that he must have one hundred percent coverage of all er contributions that this bank is for crisis times we strongly support the national bank initiated the issue of the transition of oschadbank to the guarantee fund, but due to some political moments , because of this, what is it? some politicians tried to make the transition of oschadbank impossible with these very arguments, so it happened only 7.5 years after these conversations began there is no un in order for the state to have its own banks in order for the state to finance them in any way that it does them, there is no, in the absence of a state guarantee, specifically for the investments of individuals. mykhailo, i am also asking you about savings. i understand that this is not the only state bank in ukrai

banks. they will not be stop. -- they will not be stopped. let's look at key items on the slate for the trading day. production data in germany at 7:00 a.m., followed by france and italy. the bank of england chief economist will speak on the monetary policy report briefing. he will join bloomberg later in the day. it was said the recession could happen in the process of recession. dani: finally, the u.s. jobs report inspected to show again of 250,000 jobs in july and unchanged unemployment rate of 3.6%. coming up, we get more into the conversation on the test the ceo. manus: we will also dive into the earnings from allianz, with the ceo, who joins us in a short while. looking at the numbers, you have outflows from pimco at the moment, 28 though you and. -- 28 billion. ♪ >> mild, moderate recession, maybe 18 months-ish. and i think inflation will drop rapidly, that is my guess. manus: elon musk speaking at the tesla on inflation and the risk of recession. a trading model by jp morgan shows th

the board of the national bank, on august 9, classified the sich bank as insolvent.fulfill its obligations on time. payment to the regulator for refinancing loans due to lack of funds, at least that's how economic truth writes about it, mr. yevgeny, let's start with you, what was it or is it is there a crisis in the banking market? can we expect new bankruptcies? what can you say about this? let's start from the beginning. this is not a crisis in the banking market. this is a small bank that has almost no influence on the financial stability system . we have a crisis, a war, and not all banks, uh, can handle it, banks are losing medicine, poverty , that is, money, see what it was, the bank had a refinancing loan that it took from the nbu, now these loans and after the national bank raises the rate, this very expensive, and in principle the bank should have returned it, but i understand that there was no reason to return it to the bank, because there was no money. he dragged his feet with the return and went as far as to say that the national bank took the collateral

banks and european banks, we see solid provisioning there. aside from the unknown risks that might be out there, by and large, on the credit side, they are good at risk. >> seb how do you see credit risk here? inflationary pressure is here and bankers are knocking down the doors of the bosses looking for more money >> we have seen a move way from pre-financial crisis with the big bonuses. a lot more is spread out a lot more is conditional on performance. having said all that, you know, recent quarter is not a good place to be if you are in the investment banking world with coverage and markets where we have seen that collapse in the fee revenue there. you are looking at credit suisse which was down 7.4% in terms of revenue. that's likely to be a challenging area having said that, if you are a fixed income trader and macro side, it is looking good for you. as we see the volatility continue, those in that side of the business are likely to do well looking at other aspects of the banks, that is, i think, going to be challenging and the other dyn

the bank. revenue, the operating margin has beat analyst expectations, but trading is a bright spot for the bank this quarter. the bank has enjoyed a 50% jump. it is more than an archrival in paris. their business, which is key for the bank, has gained less, but it is in line with areas of concern for the bank. this is good to know because their trading unit enjoyed it nearly two years ago in the pandemic at the market, and products grew up in the market route, and ever since there has been a rebound with the performance, this time, the bank decided to upgrade its balance. kailey: it is against the backdrop of rate hikes finally happening in europe. european banks have waited so long to lift off negative territory. it is here, but hiking into the ecb for weakness, so how does that play out for a bank socgen? >> the bank has already enjoyed boosts from lending operations because high interest rates means that lending is higher, as well, and gains were in the double digits, and a bit less for del

bank." we have not heard this from anybody at a central bank about how dire they think this outlook is. tom: lee ferridge joins us now from state street corporation. i will cut to the american chase for those on radio and tv. can the angst come across the atlantic and become the angst of chairman powell? lee: almost certainly. the bank of england is being the most honest. they are predicting recession that the last five quarters. yet, they feel the need to hike by 50 basis points with more to come. that is the reality facing central banks. the fed is still, we can avoid recession, we don't think we will hit a slowdown. come on. we are going to go into recession. major economies are going to go into recession. the squeeze on the consumer is significant. jonathan: so why is consumer discretionary rallying this hard? up more than 20% on the s&p. why? lee: you have got a big split between income levels. lower income levels are really struggling with this increase. a large proportion of the spend

the next major bank we hear from is the royal bank of australia.hleen: it is a count on to the start of trade in seoul. in korea it investors will be watching the won for any moves after bloomberg's interview with the korean governor. the finance ministry is holding a meeting after u.s. stocks tumbled on friday. we are keeping an eye out reactions after south korea's main opposition was picked to lead the charge against the conservative president. a south korea delegation is visiting washington to discuss the u.s.'s ev subsidy policy. we will have more from a conversation with the bank of korea governor including on supply chain issues and competing with china. lots more to come on "bloomberg daybreak: asia." s&p 500 futures are trending lower after a big drop on friday. nasdaq futures down 1.3%, and all three indexes sought after declines. negative sentiment, alvar is it going to go, is continuing -- how far is it going to go, and it is interesting to see how far this will go after giving them a chance to react to jay powell's hawkish speech. paul

profits of ukrainian banks.you agree with yevhen that ukrainian banks have not found a new source of income, and this is actually just such an accounting profit from revaluation of currency values ​​actually with the two russian banks of the investment bank, were we not the same as we did with all the other banks that were declared insolvent? then the assets are sold and they try to compensate for their expenses for e-e payments of compensation to depositors to individuals and payments to all other e-e creditors of the bank, it was decided to simply divide and return the ministry of finance and loans and there there were loans to many state-owned companies, in fact, write them off or give them, which is essentially the same thing, this is a little unfair to the deposit guarantee fund, which will not receive funds, but in principle, it is clear. you do not want to return the loans. to the aggressor country, which were specific pairs, as for the best part of the ukrainian banking system, actually ukrainian banks,

, and precisely from the left bank.ll not only strengthen the defense of a, but also take some actions in the direction of the zaporizhzhia region. well, i see that mr. roman does not agree with this point point of view, am i so interested in oleksandr's opinion? well, i said my point of view. well, look, we're not oleksandr, i don't know how 100% it won't be me on the article, we just take it , analyze it, and say that it can be in this, too, there is the fate of the truth and e there also in what alexander said that we really do not know what the plans are for 100% of the enemy, we each look and analyze from our side what options there may be. i can say, for example, that despite the fact that many of their units are located on the left bank of the dnieper, but i always said that the battle for the south is still ahead, if the enemy finishes in donbas, then we will see a battle for the south. and i am convinced of this that they will go here. but this question is already before zaporizhzhia or after zaporizhia, it is

not of the banking market, it is somewhere similar to the national banking market until the 14th year, that is, it has not been reformed. that is, there needs to be strict reforms to improve this market ukraine exported electricity to the eu for more than uah 700 million, the head of ukrenergo volodymyr kudrytskyi said at a briefing, according to him, europeans began to receive ukrainian the energy resource is 2.5 times more, the main buyers are slovakia, romania and poland, thanks to exports, ukraine will receive additional funds for preparing for the heating season, but in coal mining, ukrenergo will give priority to state mines, in return, ukraine will import part of the raw materials from australia and south africa, we ensure the economically balanced operation of thermal power plants on natural gas, then ukrenergo will finance the creation of a strategic coal reserve for this winter for the country, the amount of funds is estimated at two and a half billions of hryvnias and a coal reserve of up to one million tons, well, a confectioner and confectioner couple from kharkiv dreamed

remember refinancing will not spoil your credit history, and banks allow banks to do this.nd to transfer the registration of a new loan to remote control, you still have questions, you want to know how do not miscalculate in terms of finances, come to our telegram ask questions, and we will definitely talk about everything in the following instructions. summer will be interesting windshield of my fiancé's car will be breathtaking. the smartest premiere in the world wasn't mine as if they were investigating a kidnapping. this operation is secret, it was heterogeneous. wouldn't it be boring in summer? films serials documentary films cartoons the flame belongs to me woman. won discuss technical issues of the mgt mission at the zaporizhzhya nuclear power plant or the infrastructure of the nuclear power plant was damaged after shelling by the apu. departure of experts can take place already at the end of august, the permanent chairman of our country prion stated this. vasily nebenzya after a meeting of the organization's security council at an emergency meeting, which was conven

at what point did insurance and banking joint up in the national and then state banks? also, love to hear more about risk insurance changes. how risk insurance changes the state. >> so, banks -- so insurance companies as state chartered businesses their lives are very intertwined with state banks. i think i mentioned that insurance companies need places to put their money so they put them in their friendly local bank and they buy shares in their friendly local bank so these numbers of charters often track really closely together and often the same guy will like have a hand in, you know, both local corporations at the beginning there are often, they are often political allies that found the same kinds of corporations. what is interesting is how corporations lose their flavor because states find it easier and everybody sort of just decides that proliferation and banks and insurance companies are in their best interest. insurance companies invest in banks and banks do a lot of services for insurance companies. they like, so if a merchant essentially pays for an insurance p

the bank of england says the u.k. base is protracted recession after raising interest rates by 50 basis points, the biggest interest rate increase in 27 years. we spoke with the governor andrew bailey. >> since we last did the monetary policy reports at the beginning of may, that shock from russia in terms of the impact on gas prices has been huge. we have highlighted the risks as we see them. i think there are risks both internationally and domestically. yes, it is unpredictable. we have seen very big things happen. by the way many other commodity prices have gone down since we last looked. francine: it just seems like a spiral. given where we are now, could it get much worse and can fiscal policy help in trying to temper that downturn? >> fiscal policy, we condition our view on what has been announced, but the last pattern was, i look forward to working with the new prime minister. the new policy will be determined. that's the right way to do that. francine: how ugly is this recession going to be? >> obviously, the

lazy is outside the bank of england -- lizzy is outside the bank having one, markets have placed bets about half-point height, what could we get? >> francine, the majority of economists see a half-point hike. there is this interesting minority seeing a quarter-point, including morgan stanley and citi, that is because they point to the recession risk. it is said that the u.k. is already in recession. on top of that, they point to the labor market data. yes, it is tight in the u.k. but it seems like we are past peak tightness because people are coming back to the workforce because they need money to deal with the cost-of-living crisis. these economists point to the economic picture. yes, the ecb and be -- the fed have gone for jumbo rate hikes. so don't take andrew bailey at his word when he says 50 may be on the table but is not baked in. we may also get an upgrade of the inflation and growth forecast, and are expecting details on qualitative -- quantitative tightening. francine: i was going to ask about qt which is probably the bit of the market that is most interesting to pound trade

, not the banking market, it is somewhat similar to the national banking market until the 14th year, that is, it has not been reformed. that is, strict reforms need to be carried out there to improve the health of this market in details about the situation on the foreign exchange market . evening , mr. andrii. greetings, colleagues. so, just before the broadcast, i saw a joke on social networks that, for example, a dollar for 42 in money changers, if you do not see it, it is perceived as a dollar for eight, but vasyl furman noted that bank exchangers are not to blame for the situation, they need to be reformed. although, as far as i know, the reform has already taken place, please, why has the national bank resorted to such a psychological step, so that people do not see that everything is so bad? of currencies in exchanges, you know , really, not only you have this question, but also social networks, the expert environment, to put it mildly , specifically perceived such a decision of the national bank a-a more negatively and even let's say this decision was taken more jokingly by th

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why do banks do that? why do they pump up why do banks do that?ortgage but don't give you much back on your savings? don't give you much back on your savinus? . v don't give you much back on your savinus? ., �*, .,, , savings? that's right, as we see the bank of england _ savings? that's right, as we see the bank of england raising _ bank of england raising rates, generally those higher rates are going to benefit savers, but be less favourable for borrowers. so as you say, households with mortgages will see the mortgage is going up, may be some of the investment plans... the net impact of these effects is going to be a cooling of the uk economy. but could the banks do more to help us have more money in our bank accounts and has more comfort? the uk has very — accounts and has more comfort? tte: uk has very open and competitive banks in the system, i'm not sure i can comment much more than to say that these things do impact with a lag, and it will take time. we have also seen interest rates have been rising this year, and the full impact will only

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if you look at the challenge for the central bank, the fed, bank of england is in a more difficult spot the ability to build confidence that inflation will go back down to 2% over the next several years is exceptionally low right now. what happens to the data over the next several quarters is in some ways less important than the ability to believe they have tipped inflation over on a trajectory down to 2%. it is difficult to get to that spot. lisa: the bank of england came out and projects recession that is long, painful, at the same time that they are raising rates. could the fed that? ed: i think the answer has to be yes. they are committed to reestablishing credibility with the 2% target. they must tighten policy if they don't see inflation coming down to 2%. very little reason to doubt them at this stage. lisa: the market seems to be thinking if that will be able to move away from some of their rate hiking sooner than previously thought even with the recent repricing, because there is this retrenched believe that inflation will come down in the next couple quarters. ed: probably a d

this is up to the banks.ent situation is exclusively lithuanian amateur performance, and in vilnius and among themselves they can figure out who. what decisions should banks make? nod towards the authorities? they kick them back the issue of financial settlements is not within the competence of the government, if the financial authority decided not to maintain commercial relations with any client and not to serve certain operations. this is their right, the government cannot force them to do so. approximately the same message was made by the minister of transport of lithuania, they say. the decision to stop accepting payments from russia, which, by the way, may result in a stoppage of transit to kaliningrad, is taken by the banks themselves, and the state cannot influence them in any way. the ministry of finance of the republic declared such a possibility no. in any case, russia already has ready-made solutions. what the head of the kaliningrad region said the day before during an internet broadcast. accordin

, uh, can handle this, banks lose medicine, poverty , that is, money, see what it was, the bank had a refinancing loan that he took from the nbu, now these loans and after the national bank raises the rate, it is very expensive and, in principle, the bank wants to return it but as i understand it, there was no reason to return it to the bank, because there was no money. he dragged his feet with the return and went so far as to say that the national bank took the collateral for this loan, including those who were in collateral. and as a result, the bank's capital indicators worsened, liquidity indicators worsened. well, in general, on fulfillment of one's obligations is already enough of a reason to send the bank to the guarantee fund, well, the banks themselves have a slightly different version, and it will be interesting to see how this story will develop, because the bank says that it everything has been paid off by time mr. mykhaylov, is there any danger to the depositors of this bank, in which situation have they found themselves, or can they get their money back? well, it is prec

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we understand that outside of the bank haven't made a move yet on the bank inside. is that man who's threatening the burnet dow? now this is not the 1st time that somebody has made a move on a bank, demanding money, and threatening violence if he doesn't get his own money. it's believed there's quite a bit of popular support. lot of people are unhappy with banking measures should been imposed restricting people's access to their own money. oh let's get more of this now. we can bring in zayna holder in beirut. you're outside the bank to right now saying that, tell us how that stand off is looking now. well, there doesn't look to be an end to this because as we understand, negotiations are continuing to try to convince, but found a thing to lay down his arms and to leave the bag. but he is the man his money. he says his account is worth more than $200000.00. he wants his money. this is rightfully hey and get him to do this was because in the past few days, the recent days he's been visiting the bank demanding money to be able to pay for his father's hospital bill. he

there were still several decisions of the national bank, including the permission to sell to banks oncash market the currency that was not bought in cash, although they have already sweated it out. which causes a lot of haiku, but its influence is minimal , it’s something of behavioral economics. i understand it. well, it’s actually interesting that they started using such techniques when they try to influence the economic behavior of people with the help of psychological of factors eh, i hope it will work, there is one more fault about the decision of the snp agency to give ukraine a pre -default rating, is this treason or is it bad for ukraine eh, this is not treason, we are a victory, it is just a fact , first the chips did it now the assistants did it ukraine is now in in the process of restructuring own debts in the process of negotiations with investors, and naturally or at least temporarily, the ratings should drop, there are still bad numbers from the national bank of ukraine, the national bank of ukraine has resumed the release of the inflation report e-e, which contains a lo

to capitalize the central bank -- d capitalize the central bank.ublishing a mechanism that will allow central banks to use this reserves for the purpose of the central bank -- it is to bring stability and strengthen the currency and also stabilize the economy. it is very important. i think this function cannot fulfill its primary objective of stability [indiscernible] against foreign currency to provide stability. [indiscernible] if there are no stable prices, they're not going to be able to buy basic household goods at reasonable prices. inflation now is at 52%. optioning will allow a situation where this inflation of double-digit of 52% could be reduced. higher prices are one of the major causes of poverty. now more than 70% of the world's poorest people are women. you have women and children cannot afford to buy the basic necessities. they cannot buy bread. they cannot buy cooking oil. they cannot buy sugar in fuel. i think it is very important afghans be allowed to have their cash to be able to buy these basic necessities, to have access to cas

knocked out from the left bank?easier than the case is that after they leave or we will destroy them, most likely the second, they will not leave and we will have to destroy eh on the right bank, our art will practically fit to the right bank of the dnieper and it will reach eh up to 40 km in the stupid left-wing groupings, it will reach eh 155 arta natovskoe well, and to a depth of 70-80 km, hymers will be perfectly reached, then almost the entire left-hand grouping with a width of about 70 km from zaporozhye and before the entrance to crimea it will be shot through if it is talking about the sides, fight and defeat the left-wing grouping from the side of the ukrainian artillery troops, it will be much easier to hold the right bank, after this it will be the troops transferred from the right bank to the left evaiska, why are they they can be transferred to the region of zaporozhye and higher up the dnieper from zaporozhye in any place of practical coups to the left bank and, in principle, further movement from the

, , ., , bank.we shall see how this plays out — bank. we shall see how this plays out and _ bank. we shall see how this plays out and keep - bank. we shall see how this plays out and keep an - bank. we shall see how this plays out and keep an eye l bank. we shall see how this | plays out and keep an eye on the shareholders meeting tomorrow. let's get some of the day's other news. now, let's turn to china's property sector because there's more signs of trouble at struggling developer evergrande. one of its subsidiaries has been ordered to pay a guarantor more than $1 billion for failing to honour its debt obligations. the property giant missed a self—imposed deadline for a proposal to restructure more than $300 billion in debt. the uk has given some of the least generous support to help drivers with high fuel costs among countries in europe the rac says. the motoring group says that out of 13 european nations that have cut tax on petrol, only luxembourg has done less. uk petrol prices have hit record

we don't own any european banks or domestic banks either. in credit suisse in particular, it is one of the faster it has been. they tried to bring in new executives and nothing seems to work. i don't know the answer is there. hopefully, they can get them back together at some point. do your job. jonathon: it is difficult. thank you. howard ward there. stocks up a little more than 2%. it has been a struggle. tom: i'm doing a compare and contrast with 71,000 jobs versus 51,000 at credit suisse. ubs is maybe better run. my tilt is that it is a lower number, it from 51,000. jonathon: i have the same question, what do they want to see when they grow up? take your pick. tom: i used to do securities research weeks ago. -- years ago. i would look at their font and wonder if they understand that their font and security research is unreadable. it is little stuff like that, and big stuff like errors. jonathon: i don't even think that is the small thing. tom: doj, you could read the research. credit suisse, you cut them. [crosstalking] tom: the bank of

the bank is predicting _ to act to stop that. the bank is predicting a — to act to stop that.o act to stop that. the bank is predicting a serious recession. | to act to stop that. the bank is i predicting a serious recession. at the same time, cost of living pressures are getting worse, with the rate of inflation now set to peak at 13% at the beginning of next year, and still around 10% in a year's time, as average energy bills reach £300 per month. to stop inflation staying at these levels for years, the bank is raising interest rates for the sixth successive time, up by the largest amount in quarter of a century, half amount in quarter of a century, half a percentage point. 0n the streets of cardiff, the overall hit two household incomes is becoming clear to all. it’s household incomes is becoming clear to all. �* , ., household incomes is becoming clear to all. �*, ., ., ., household incomes is becoming clear toall. ., .,, ,, ., to all. it's a lot of stress, and financial— to all. it's a lot of stress, and financial stress _ to all. it's a lot of stress, and financial stres

and financial and banking system . by banks. most of them are mostly under sanctions and they work in crimea, and putin said at a meeting with us on the broadcast, well, you are already afraid of the mother who is transferring them en masse and transferring them to the region, in addition to the representatives the administration of the occupation authorities received a task from their moscow curators to create 20 election commissions under the leadership of local collaborators. the composition must be approved by august 1, but we had input with our experts from kherson. they said that people go to these commissions too much and if they are created by commissions then it will be only in kherson, in kakhovka, maybe in henichesk, but no rural region will be covered by these commissions. your information. how is the preparation for this so-called referendum going ? first of all, you need to look at the situation a little wider, they recently brought and appointed a so-called government. well, for example, in kherson and zaporizhzhi

wait like this, you can’t go to the bank. call the elder vladislav, you have banks.ng on? inga zakogorskaya with her there may be more criminals faster left our bank 10 minutes ago. urgently call the police my wife and child have been taken hostage. cataloger's poem, what to stop all payments from ecologorsk? mister already here good fellows. what with the voice of nothing mom in a cafe next to the bank, come to her. the car will be on the left in 10 minutes. yeah well , haha, that's great. we are fine money flows like a river. look, you and i are rich. if you got your money, let me talk to my daughter. you are alive at last, why are you with you for so long? she ran to the toilet. what 's wrong with her, that ksyusha is in place? now everything will be fine. they wanted to convince us that they are ready for anything, so it happened, yes it happened. how could you? you were members of the family, ksyusha. they loved you so much, as they love servants who pay well. yes, this is love. compare how they love a washing machine, it was not so easy to breed. so that's what

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ilya said at the beginning that the council of the national bank has the right to do something? ukraine about the national bank, and you will see there that we have the right, the legal right, to give recommendations, not instructions. as you said, that's why we did it, and i can hear you, yes, yes, i mean, i'm sorry , there are a lot of calls here, that is so we give recommendations, i hope just after the big one, when calls are received during skype communication on the phone , it just disconnects, er, just disconnects this connection, connect to us, and by the way, this is the story, if mr. ilya, if you knew yes, let's continue this purchase of non-cash dollars at an undervalued rate for the time being, that is, actually, the depository of the nbu is resuming operations with government emotional securities, it will somehow overlap with this story with uh, if a tax on the purchase and sale of this currency is introduced tax as far as i am familiar with the initiative, it concerns only the purchase of goods abroad . okay, i am here a little. perhaps i will also say that the mec

open banking is, i fraud and theft? open banking is. i would _ fraud and theft?is _ fraud and theft? open banking is, i would say, is an _ fraud and theft? open banking is, i would say, is an invalid i is, i would say, is an invalid instead on top of everything that exists today. it really uses the most state—of—the—art scientific technologies to enable secure communication and transaction between businesses and consumers and of course bank accounts. so for instance it uses face id and biometrics to authorise payment or sharing data, instead of relying on you having to type six digits or your bank account number using your bank account number using your keyboard. qm. your bank account number using your keyboard-— your keyboard. ok, we believe it there. thank _ your keyboard. ok, we believe it there. thank you _ your keyboard. ok, we believe it there. thank you very - your keyboard. ok, we believe it there. thank you very much | it there. thank you very much for your time. now, how good are you at receiving feedback? we've been speaking to one ceo who's got some a

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the banks can do it there's a limit to what— the banks can do it there's a limit to what the — the banks i5 target support to the worst affected by recessions and the cost of living _ affected by recessions and the cost of living crisis and of course, unemployment the i5 is also going to go up to to the forecasted recession. but the fiscal policy— forecasted recession. but the fiscal policy to— forecasted recession. but the fiscal policy to try to get more income support— policy to try to get more income support and households are really struggling and yes, by supporting demand, — struggling and yes, by supporting demand, there's always a bit of inflation — demand, there's always a bit of inflation but if you targeted towards those who are the worst off in society, _ towards those who are the worst off in society, that's not targeting the entire. _ in society, that's not targeting the entire, that is not targeting everybody and supporting them and been inflationary, i think the other thing _ been inflationary, i think the other thing to— been inflationary, i think the other thing to thin

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paul: china's bank is watching for the mortgage payment boycott, this comes with some banks inflatingheir loan volumes as they struggle to meet government demands to pump more credit into the system. that is your week ahead. let us bring in paul christopher, head of the wells fargo investment institute. we saw u.s. equities close out the week as we stand on the cost of a new trading day, would -- which sectors are looking most vulnerable to you? >> they enjoyed themselves in this rally, primarily small caps and a lot of the cyclicals, those are the ones you need to have had, we are going to go back down below 4000 here and in short order. this is where you want to emphasize quality, from cyclicals into quality. paul: kathleen mentioned a moment ago one thing that all of the fit officials agreed on that there is more tightening to come. how much more tightening do you see coming down? >> we take the fight at their word. the short speech by powell was intended to communicate a point very clearly that was misunderstood at the july meeting. the july meeting gave the impression we would ge

so here we have the opportunity to borrow from commercial banks on the market, commercial banks treat reliable partner and place in favor of corporate clients, as it were announced, find and projects that are required on one support sides, but on the other hand are liquid. yes, right now we are mostly working on projects that are interesting for commercial banks, but which at the moment cannot be fully serviced by commercial banks due to the new risk circumstances that commercial banks want to share with a development bank, this also applies mining copper and creating new batteries, for example, what rusatom will do. these are all commercial projects on a returnable basis. just in these conditions commercial banks want to share and this is just our main function, so we will definitely work very well. these were footage of vladimir putin meeting with igor shuvalov, chairman of the state development corporation of the russian federation, now on our channel there is a live broadcast, it is believed that he is distant from his country. and uh, join those groups that want to destroy uh cou

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banks want to share with the development bank.ning and the creation of new batteries, these areas are planned to develop rosatom corporation's liquidity assessment is carried out jointly with the ministry of finance. maria thank you maria slobodyanskaya spoke about the meeting between vladimir putin and the head of the russian federation igor shuvalov and the latvian authorities are demolishing the monument builders and heavy equipment are working today for the liberators of riga in victory park, as local copper reports. here is the dismantling of the steps and the removal of garbage, the territory is fenced, police officers are on duty, the mayor said that the monument would be destroyed after the demolition, since the occupation museum did not recognize its artistic value, for example, latvia will follow or two, it became known that, it seems, the monument is the largest memorial to soviet soldiers at a cemetery in vilnius will be demolished in september, the monument was even removed from the register in advance objects of cult

by the bank of england today.ly counterintuitive. up next, we have the european close. we are counting you down for that. of five minutes away now. we are also talking about what is happening with the travel story. glenn vogel president and ceo is going to be joining us to caution in their numbers in favor today. we have that conversation a little later. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets