you've got arrangements where vendors are relying on banks and relying on banks not just for their banking needs but providing banking services to other parts of the economy so these relationships get more complicated. part of what we are trying to put out is a way to do this where it can be safe and sound and fair and that is what we want but it requires attention and you can't just glance. that is in colloquial terms we see some instances where there is just a little less attention on the due diligence, who is responsible, trying to nail that down. for smaller banks it is hard. you make a good point. the need is greater for smaller banks. in the guidance we acknowledge that. we acknowledge that. we make sure we say small banks. you can rely on group efforts, joint efforts, certification. ..cat. how do you get comfortable with a vendor? you don't each have to do your own due diligence, over and over and over again. if there are other mechanisms, we're open to that. we build that in explicitly and that goes out and so for your listeners, for anyone saying, hey, how can i help? this is one

bank, bank d. the branch of bank d has informed that it will be operational by saturday, god willing. bank of iran, zamin, bank of iran, venezuela and sanat and mine, bank of sanat and mine, what is the name of the monkey that is connected to you , see the situation like this, when i want to connect to the system, the test process and control and review and various stages of implementation and operation of structures before, we used to provide industry and mining, but i leave it incomplete and the criteria for us to connect to the system and send information through the elixir system of sanat and mine bank, sanat and mine bank of iran, zamin bank of iran, venezuela bank, capital bank, bank d, how much effort do you put into this system according to the circular? the central bank of 1401 gave that all should be connected to the system by the 15th of 1401, but this project was called a project and gradually the banks were not connected to the system. according to your request, saman temski was ready

and safety and soundness, people associate that with bank regulation and bank regulators. fairness, i don't think that's the right approach. i think that fairness needs to be just as much of a priority as safety because those of those go to trust and banking is all about trust. you don't trust someone who is a fair weather fan on these kinds of things. i think that part of what i really appreciate about it, about what you do is making these things visible, keeping them in people's mind. it's good accountability. it's good reminders, and i think we just have to keep that up as long as and as much as possible. we don't have to think about it, it's just something that we do. >> mike, thank you, so, so, so much. i like juneteenth and a series of events because they allow us to have the kinds of conversations that we should be having anywhere and you're someone always there for the coverings, i appreciate it. it's just been a great conversation with obviously, so many more issues to tackle. but thank you, mr. acting comptroller for joining us. we are now back for another one-on

banks, to midsize banks to regional banks. going forward continued industry and vigilance is critical. banks and supervisors must be attentive to the most salient risks today as well as those beyond the daily headlines for that would help ensure the banking system remains a source of strength for the u.s. economy grew foreclosing mr. chairman i want to be very clear. our customer is the american people not banks. be happy to answer any questions. quick superintendent harris welcome to the committee. >> thank you so much good morning chairman brown, ranking member scott, and members of the committee. on sunday march 12, 2023 signature failed after sprinting a propulsive run on deposits on friday march 10. the run was instigated by the self liquidation silver gate bank on march 8 and then the failure of silicon valley bank on march 10 following an unprecedented run on its own deposits. in order to avoid a disorderly admit date monday shutdown further contagion across the banking system on the evening of sunday march 12, took pos

community banks? >> i really think that the things we are looking at are not about community banks. they are about the very largest banks and to some extent, banks in the silicon valley range is sort of 150 million, 200 million. far larger than the community bank. those are not the focus of the regular tory reforms. >> i will also hope that that be true because as i said in my district we have a lot of community and regional banks that would suffer with increased regulation and capital requirements. with that, i have very little time, so i will yield back to the chair. thank you. >> the gently 8 -- ventilator yields back. i know recognize mr. sherman for five minutes. >> i want to comment on a success story. several years ago, there were $16 trillion of instruments where the amount the debtor was supposed to pay the creditor was to be determined i the london interbank rate and as of june of this year, that rate will no longer be published. something happened unusual here in washington. a year and a ha

banking?s been shrinking quite significantly over the past, you know, 10 to 12 years. chair powell: very much so. it's a focus for us. we understand the importance of community banks that they provide a different service and an important service to smaller businesses and communities. community banks have been consolidating for 30 years now. so it's really a secular trend as people have moved to bigger cities and things like that. but we don't want to do anything to move that along. we think that the world is not a better place with fewer community banks and we try to keep that in mind in all of the regulatory and supervisory things that we do. mr. donalds: do you think that federal regulatory policy in part from congress has led to a supercharging effect of diminished community banking in the united states? chair powell: it's probably been a factor but i do think there have been important demographic factors as well. and also having interstate banking, interstate banking only became legal, qui

at the time signature bank and silicon valley bank were the 16th and 29th largest banks in the country respectively. their failures could have posed a $25 billion cost on the insurance fund. while not part of our work, first republic's recent failure could have posed another $13 billion cost on the fund. i will focus on one bank's specific factors that contributed to the fail yurks and two, supervise yory actions regulators took leading up to the failures. first, the bank failure. we found that risky business strategies and weak liquidity contributed to the failures at s.v.b. and signature banks. s.v.b. and signature both exceeded rapid growth, exceeding that of pure banks. s.v.b.'s assets more than tripled in the three years prior toits failure. s.v.b. and signature also relied heavily on uninsured deposits. signature funded 82% of its assets with uninsured deposits. s.v.b. and signature also exhibited weak liquidity and risk management controls. when confronted with external pressures, rising interest rates for s.v.b. and weakening digital asset markets for signature, the risky busin

to bank it increase. second question in terms of policies that could potentially stem the tide, when it comes to deposit one thing that is worthy of consideration is the feds reverse legal facility. right now money market funds and certain other counterparties can place substantial amounts at reverse repo facility and earned a very high interest rate. almost as high as with the fed pays bank reserves but they have much different cost structure so it's much easier for them to pass the rate along. that have served at the magnet to pull funds out of banks they have a difficult balancing act to balance the monetary objectives. it does seem like there might be small tweaks that could be made to try to make that a little less of an attractive competitor. one other thing i will say on the liquidity side banks have done a lot to try to shore up their defenses by updating their contingency funding plans building up cash positions, things like that. i think those types of things are very helpful and on the governme

of sanat and mine, sanat and mine of iran bank, zamin bank of iran, venezuela bank , capital bank, bank d, how infected did you start , are you working with this system according to the circular of central bank the year 1401 gave all banks the effect that 5401 should be connect to the system, but well, this process was proton, and they were connected to the system by teaching the banks, so i was ready for the banks to connect when it started in august 1401, the system is now more than a year, and for the past, this is really so long and time-consuming . it doesn't seem that the banks are connected to a very special technical infrastructure or not, because the system is not that complicated, only the connection between the bank network and the central bank and the connection between the central bank and the tax administration, because many of them are immediately transferred to the account separation system in the first month or two. commercial and non-commercial joined does not appear technically prevention is not so much. what happens in bangkok? they connect . what process is started

valley bank. so myou question is this, to wht extent did they clap for silicon valley and continuing concerns about stability in the banking area impact the decisions going forward with respect interest rates, how to set vectoring? >> pretty substantial research to a sector of the banking industry you will feed lower lending. it does not appear immediately. we have been saying we've been waiting please apart and my thinking tightening in the pipeline that otherwise there would have been. val points in same direction we would very, d very quickly 75 -- 50 to 20 at every meeting. no skin very close to where we think our destination is. make common sense to move in a careful pace. who do not want to do more than we have to move we do think overwhelmingly people on the committee do think there are more rate hikes coming. we want to make them at a pace that allows assisted information speak for good decisions. >> thank you thank you. senator vance is recognized in ohio. >> thank you mr. chair thank you

in view of the banks, there is a report on the banking sector, there is a survey on systemic risks,egular products, this is a business survey of enterprises. that is, you need to go to the site you should look for the national bank there, and in fact, every ukrainian is there. even those who consider themselves financially literate can find quite a lot of useful information for themselves and answers to the question of whether it is worth taking money to banks or safely depositing money in banks. whether or not it is worth dealing with banks there they are, well, a little bit not directly, a little bit indirectly, yes, it is possible, but these reports are sewn up and , first of all, it is really a report on financial stability. so, as far as risks are concerned, i would just like to add to what pervin said , one possible important point is the following the risk is not the stability of the banking system now because our banking system is now in such a state that it should not be in it a little due to these military actions due to the actions of the central bank due to all the insta

overseeing the banks, including silicon valley bank. my question is to what extent did the crash at silicon valley bank, and to what extent are continuing concerns about stability in the banking area impact the decisions you make going forward with respect to interest rates? how is that factoring in? chair powell: there is pretty substantial research showing when you have a shot to banking, like the one we had in march, to a sector of the banking industry that if you come back in six months you will see lower lending. it is strong in the data. so, we have been waiting to see -- that plays a part, at least in my thinking, that there might be more tightening in the pipeline than their otherwise would have been. we do not see evidence of eight yet, but then again we would not expect it yet. we moved very quickly when we had to move quickly. we have been slowing down since last december from 75, to 50 and 25 at every meeting. now we are getting close to where we think our destination is. where we think it is. and it only makes common sense

and, a silicon valley bank, and signature bank, those in charge push their banks to grow too big too fast. they make risky bets, they got massive profits, executives were paying themselves bonuses right up until the moment that at least one of these banks crashed. to most americans, that is not surprising. people have gotten all too used to big bankers treating the industry more like a game, or maybe more precisely, endless atm for themselves, securing the knowledge that they won't pay any real price if things go wrong. mr. powell, mr. chairman, senators got 19 back with a 21 to 2 vote yesterday, those days for bank executives are over. chair powell, i look forward to hearing today how the federal protect american workers in the fight against inflation and promote an economy with a strong growing middle class. sarah scott? >> thank, you chairman. tara powell, thank you for joining us today. such an important time. your last appearance before this committee was about four months ago, just days before the collapse of two banks, and what we continue to investigate those bank failures, i

the most friendly bank. so it was a, it was obviously a very direct attack on crypto currency. and we are seeing that coming from the united states government, especially under the, by the new ministration from the cc, all the way to the photo was, or to your head of your chair. had mis mister janet, you know, and they are all right now, conspiring to try to make crypto and accessible to the general public so they can assure, and their big brothers surveillance client, they're calling central bank digital currency. are these banks truly too big to fail? because they're not as big as jp morgan chase or city bank. so why were they not allowed to fail? and what would the run medications have been as well the saying is too big to fail banks, but it's not too big to fail. is too big to allow to fail. so what the federal reserve and the treasury is come out already saying as far as their back stops, is, is when they're having bank failures. if these particular banks don't cause contagion to the rest of the system,

you got arrangements where vendors are relying on banks and relying on banks not just for their banking needs but for providing banking services to hold a set of customers to other parts of the economy. there's a way to do this work and be safe and sound and fair. and requires some attention and you can't just wing it. in colloquial terms we seen some instances there's been a little bit less tension on in the guidance we acknowledge that we have a lot of comments on this. we acknowledge that and we make sure we say small banks, you can rely on group efforts, joint efforts, certification, how do you get comfortable with the vendor? you don't each have to do your due diligence over and over again. for the listeners or anyone saying, how can i help this is one way to help. >> that's really interesting. we talked before many times about how exactly do you address real risk and encourage competition and how do you enable all these different pieces of the financial system to be able to service their respective communities. ethic is a really interesting approach where you understand that there

, weaker banks. the contagion effect of how many people have investments, people's like the retirement people's, different uh, wall street investments. i mean, they're tied into a lot of people's lives. so i understand why they're trying to keep these things float and keep them active. but the one thing that we've got to take in consideration is prior to the 2020, there was a 10 percent reserve requirement that the banks were required to have on hand at all times, which meant they had to have 10 percent of their funds at one hand since 2020, that reserve requirement has been taken away. banks aren't required to have any reserve requirement at all anymore. so i've even told people now with the way banking is we really need to look at banking as how we would look at it as an investment. don't deposit more than you're willing to lose. because the other thing i would have mentioned with the difference between the 2008 and where we are today is bail lands versus bailouts because we had bailouts taken plac

bank's private sector. i am supportive of both because i think it would be part of a new initiative to work in the caribbean, to work in latin america. we ought to have a cap, but if that is a political dealing to congress has a seat at the table, we should demand that the taiwan get the chance to buy shares in the inter-american development bank just as they do in the asian development bank. in the case, congresswoman, what happens in ukraine is not going to stay in ukraine. china is watching what is happening so we should hope that ukraine delivers a historic victory against the russians and against the illegal invasion but when the reconstruction begins we need a lot of people to carry the burden and they ought to step up and carry a significant burden. one of the conditions i would make is to say we would like taiwan to be a significant burden jerger in the reconstruction and one way to do that is to get them to buy into shares so thank you, for that important question. >> let me open the next question

toman means about 777 million per bank employee toman, a good report of a bank, post bank, the highest number above that number can be non-damaged, and post bank for its own employees, depending on the ratio of the number of employees and the loan amount that you gave, 2739 employees of the national facility department, 2813 to its employees, average to each of its employees 1 billion and 27 million tomans 1 billion and 29 million for every employee of bank post bank amede facility with an interest of 18%, if we use 3% method, i believe it is accurate to recharge some of these facilities in previous years, such as the number of staff facilities, the number of long-term facilities, effects three years, four years, under 20 years, which is not consistent from the past until now, and the production number can be much higher, while the banks are in a law that has been in the ground for 15 years. kurds have passed the law on the development and support of marine industries. now, with the meeting of the supreme council of marine industries, after six years of law enforcement , it has been pu

the bank of— you try and intervene, it makes the bank of england'sjob harder because the bank— bank ofomy because off and inflation starts to come _ because off and inflation starts to come back— because off and inflation starts to come back down. if you start intervening with that, the bank will have to _ intervening with that, the bank will have to put interest rates up highen _ have to put interest rates up highen |t— have to put interest rates up hither. . . . have to put interest rates up hither. , , , ., have to put interest rates up hither. ,, , ., , have to put interest rates up hiher. , , , . , ., have to put interest rates up hither. ,, , ., , ., higher. it is push and pull. you say the bank wants _ higher. it is push and pull. you say the bank wants people _ higher. it is push and pull. you say the bank wants people to - higher. it is push and pull. you say the bank wants people to have - higher. it is push and pull. you say i the bank wants people to have pain. you don't mean that they want people to suffer personally, but they are going to suffer. it helped getting to the

smaller banks. more than 50% of lending in this country comes out of the regional and small ban. and our goal is to make sure that c cdfis and mdis play an increasing role there. while many may not have noticed just a week ago, number of large banks in this country and and other big institutions both financial but also nonfinancial firms decided they're going to ta deposits for excessoney and place those this in c or dfis. while they started with a billion dollars, they expect in this amount to grow over time. as a sign of confidence both in the nking system, but particularly in mdis and cdfi. and not oy confidence in these institutions, but demonstrating their respect for the important ro they play in making sure the communities of color, rural communities, people who are living in parts o the country that haveot been served have access to the credit that they need so my view is tha the banking system remains resilient, and i'm particularly impress by the resience of mdis and ckfis given the headwd

system, the national bank observes the banking sector banks adhere to the principles of financial monitoring and there is nothing significant, even this is not for individuals , yes, for legal entities, to inform in this way if there are certain e-e. nothing changes for them at the moment ah, but is it still possible that the business will try to go into cash, go into cash and show less movement of funds due to such an action of the nbu very briefly this is not due to the action of the nbu in it is very important to me that our cut-outs from the russian federation have a cashless economy in ukraine , i.e. non-cash payments and everything is returned in cash, let’s not say that these processes are less controlled. in the destabilization of the stable banking system for individuals, users of banking and banking services. nothing changes, people work as they used to. most of all, i want to pay attention to this thesis. we use it, i will try to be able to say it on the air, those citizens who make legal payments use their cards so that i don't know if the husband transferred uah 1000 to his wife

or safely depositing money in banks chi ma is it worth dealing with banks there?hey are a little bit indirect, a little bit indirect way, yes, you can , but these reports are sewn up and , first of all, the report on financial stability. there is such a risk as the stability of the banking system now because the banking system is currently in such a state that it should not be in it a little due to these military actions due to the actions of contrabanks due to all the instability, well absolutely the balance sheets are also distorted, and this is the situation , as they say, one-time. and i would like to see in this report how the banking system is, what are the scenarios, yes, the same scenario analysis that you said about yesterday, they are presentations , er, what are the scenarios for the further development of the banking system because the system as it is now is one-off, it is unstable and soon it will simply change in essence . and here is the question of what will happen next, and this is how the main risk is for me . yes, in which direction can the situ

but regional banks and smaller banks.w, more than 50% of lending in this country comes out of the regional and small banks and our goal is to make sure the mdi's and cdfi's play an increasing role there and while many of you might have noticed just a week ago a number of large banks in this country and other big institutions both financial but also nonfinancial firms decided they are going to take deposits or excess money and place those in mdi's and cdfi's. while they started with $1 billion, they express this amount to grow over time as a sign of confidence both in the banking system but particularly in mdi's and cdfi's and not only confidence in the institutions but demonstrating their respect for the important role they play in making sure the communities of color, rural communities, people who are living in parts of the country that have not been served have access to the credit that they need. my view is that the banking system remains resilient and i'm particularly impressed by the resilience of mdi's and cdfi's gi

bank system . they also gave detailed speeches and explained and encouraged the dear people to support all banks were forced to support debtor state banks there were special conditions for these banks, inflation and if time will come back to you and they adopted the new policy of kerman, what is the difference considering that mr. rezaiyan was referring to an innovation, there was no such comprehensive system in the world . yes, i regarding the answer to this question, your excellency, i have 3 points. the first point is that we see two elements as your main element, the first element is your originality and the second element is your efficiency. understanding where they give fatwas about the islamic government, the first imam midan's fatwa, which is based on the jurisprudence of jawaheri, is a solid and correct fatwa, it has a framework, it is based on speeches taken from the ahl al-bayt of purity and purity, and the holy qur'an, and the second point is that the statements of the imam are suitable

, weaker banks. the contagion affected how many people have investments, people's like the retirement people's, different uh, wall street investments. i mean, they're tied into a lot of people's lives. so i understand where they're trying to keep these things float and keep them active. but the one thing that we've got to take in consideration is prior to the 2020, there was a 10 percent reserve requirement that the banks were required to have on hand at all times, which meant they had to have 10 percent of their funds at one hand since 2020, that reserve requirement has been taken away. banks aren't required to have any reserve requirement at all anymore. so i've even told people now with the way banking is we really need to look at banking as how we would look at it as an investment. don't deposit more than you're willing to lose. because the other thing i would have mentioned with the difference between 2008 and where we are today is bail ends versus bailouts. because we had bailouts taken place t

banking and the banking activities of mr. muallem, what did mr. muallem point out that we should eliminate interest first . peace be upon you and may god have mercy on you. on the occasion of the death of the late imam and also the duty of the martyrs of 15 khordad as you said, and his wife, who is a teacher, i present to you, the issue has been specifically addressed in the qur'an and hadiths, and it should be considered as a good work, a humanitarian work, if it becomes a commercial work, in terms of islam is hated, and in fact, it is a contractual loan that is built for cooperation between people. if people benefit from economic transactions , they can use oil transactions . can use so some content regarding cholera, while it has come , the same as what the people of manto have said, there may be other cases that are hidden from our view and have not come . let's take into account that sometimes the economy is in a situation where in terms of economic rates , it has good conditions, it has optimal conditions that are very

banking activities of mr. muallem had pointed out to him that we should first eliminate riba. salam alaikum and may god have mercy on you for your service to all the dear viewers. condolences to the occasion of the death of the late imam and also the incident of the martyrs of 15 khordad as you said, and his wife, who is a teacher, whom i present to you, together in the normal qur'an , especially and humanitarian work, persuasion, if it turns into a commercial work, it is good from the point of view of islam, and in fact, it is a contractual loan that is for if they don't have the cooperation between the people of the society embedded in economic transactions, they can use oil transactions , use mudaraba transactions, the types of transactions that the real part of the economy can use to connect with credit time . in terms of economic realities, they are real when they are real let's enter european credit and see if it actually works. even who the coach is using. the loan should not hurt your hand. it should b

there have been challenges for regional banks and black and brown banks. i think most people would look at this as a story that played out in terms of policy responses , and that policy response sort of continues, but maybe again -- what has been the treasury department's sort of posture here for those events and in the policy conversation, and do you have any particular sense as to where we are, not just in terms of market unease, but where you are and where the treasury department is when it comes to thinking through the appropriate response? while -- wally: looking back on my calendar, on the weekend of march 12, i looked at my sunday of that week, and it looked busier than any weekday because we were spending time not only thinking about what we would do about signature bank and silicon valley bank but thinking about what we were going to do to protect the system and banks doing exactly what banks are supposed to do, which is provide credit. that's why the fed took decisive action to protect the uninsured and insured in these institutions as well as cr

the reserve bank of australia.arket for a very short time. but we are paying attention to his the of long-term yields behaving slightly differently for short-term rates because we are probably close to late cycle conditions. with the monetary policy stance, it is slightly more hawkish. we think it is quiet likely that we enter into the late psychodynamic and for that reason, we think long-term yields will be more anchored. we are not looking at a 400 basis point hike your. it is basically one of two adjustments needed to bring the market expectations in line with what the central banks want. that is different. >> you have a long position for the end despite the bell as weakness we continue to see. what do you see changing that short of intervention at some point? just giving -- given the widening diversion and the boj and the fed? >> it is a difficult story. as you know at the start of the year, there was a big reversal in the market narrative. that story is getting a new challenge. japan's fundamentals are pretty

so there's plenty of opportunities for smaller banks to bank them. the key is be safe. if people want safety with their money. and then they can deliver those services in a way that-- those opportunities, again, the good news here is, i think a lot of the larger banks, they want to partner, they want to help some of the ndi's, cdfi's and others, complete that value chain across the diverse parts of the economy and cra partners that and other initiatives, but that's part of the solution. >> i mean, to that point. i mean, if you had your magic wand here, you know, not just comptroller of the currency, but, you know, wizard, is there anything you'd like to see from the private sector when it comes to -- you're sort of already getting there in terms of technical assistance. is that really -- is that the note point as private sector action? is there anything else that you find really important there? >> so there's-- for me, there's a whole set of tactical things, that's part of it. the technical assistance, it sounds foreign, it is huge. we've had examples where a large barg

or safely depositing money in banks is it worth dealing with banks there?y are a little bit indirect, a little bit indirect way, yes, but these reports are sewn up and , first of all, the report on financial stability. so, as for risks, i would just like to add to what pervin said one important one one important point there is such a risk as the stability of the banking system now because the banking system is now in such a state that it should not be in it a little due to these military actions due to the actions of the contrabank due to of all the instability, well, the balance sheets are completely distorted, and this is the situation, as they say together , and i would like you to see in this report how the banking system is, what are the scenarios, yes , the same scenario analysis that you talked about yesterday at the presentation, uh, what there are scenarios further development of the banking system, because the current system is one-off, it is not stable and soon it will simply change according to the judge. and here is the question of what will ha

, weaker banks. the contagion affected how many people have investments, people's like the retirement people's, different uh, wall street investments. i mean, they're tied into a lot of people's lives. so i understand where they're trying to keep these things float and keep them active. but the one thing that we've got to take in consideration is prior to the 2020, there was a 10 percent reserve requirement that the banks were required to have on hand at all times, which meant they had to have 10 percent of their funds at one hand since 2020, that reserve requirement has been taken away. banks aren't required to have any reserve requirement at all anymore. so i've even told people now with the way banking is we really need to look at banking as how we would look at it as an investment. don't deposit more than you're willing to lose. because the other thing i would have mentioned with the difference between 2008 and where we are today is bail ends versus bailouts. because we had bailouts taken place t

, regional banks. the fdic's is required to accept the lowest cost bid and it did that. >> i heard a lot of stories that you couldn't even apply or try to bid. i will come back if i learn more about that. switching gears to digital assets. financial regulators ramped up scrutiny of additional asset firms. in a recent interview you said you, quote, see some holes in the system where additional regulation would be appropriate. would you mind elaborating on that statement, where you see the holes? >> one hole pertains to supervision of spot markets where digital assets are not regarded as securities. so there needs to be regulatory authorities and stable coins is a type of digital asset that really requires a full blown federal regulatory framework and would very much, i think this is an area where congressional legislation is appropriate to create appropriate prudential framework. >> when you spoke before this committee last congress you agreed with me that state level tax deduction lead to disparate tri

higher rates the bank of england i higher rates the bank of england will have — higher rates the bank put the base rate i higher rates the bank of england j will have to put the base rate to, the financial— will have to put the base rate to, the financial markets, _ will have to put the base rate to, the financial markets, which i the financial markets, which fixed-rate _ the financial markets, which fixed—rate mortgages - the financial markets, which fixed—rate mortgages are i the financial markets, which i fixed—rate mortgages are based the financial markets, which - fixed—rate mortgages are based on, have gone _ fixed—rate mortgages are based on, have gone up— fixed—rate mortgages are based on, have gone up significantly— fixed—rate mortgages are based on, have gone up significantly over- fixed—rate mortgages are based on, have gone up significantly over the. have gone up significantly over the course _ have gone up significantly over the course of— have gone up significantly over the course of the — have gone up significantly over the course of the last _ have gone up significantl

these are banks and micro.inancial institution with a request to change e, the terms of a loan agreement or loans and banks should now consider this on an individual basis. and we sent such recommendations and would also like to say if the bank refuses such considerations. we also ask you to contact us at the central bank. uh, we will monitor the situation and analyze the incoming appeals. uh, and i must say that we used to send such recommendations to banks on the restructuring of debts of citizens, who suffer as a result of emergencies . and we have a well-established mechanism for interaction with banks and conventional banks. eh, they work quite constructively in such situations. as for the commission that banks set for transfers in foreign currencies. this is the right of banks, and it is related, we also talked about it. this is due to the fact that hmm banks understand the risks of dealing with foreign liquidity, some of them have restrictions, so in order to mitigate such risks and in order to hmm as a

and so, bank to bank, there is no particularly large such need to have a dollar in them, and so quitege amounts on transfers in foreign banks, so-called accounts on the islands, they can, in principle, return them at any time, plus well, there is another regulatory requirement that the bank must balance the currency position, this affects their regulations . but now, as the national bank punishes banks for violating regulations, it is this is not a problem for the largest banks, they are here , the difference is, in principle, placed on their capital , they live with it without problems. well, indeed , the average deposit, i looked, i will not advertise special sites, but there are sites that aggregate data from many banks and offer to see what the rates are. if you have $5,000 in your hands, and you want to put it on a deposit for a period of one year, you will be offered an average of one and one percent per annum, which is an average of 20 banks that are large and including small banks, well, it is clear that there are fewer banks, they compete with the rate, they offer more intere

he does it all the same in banks in banking applications.s, this is just the topic, but how banking applications and the banking system continue to actually protect. it's true. you know, there will never be a situation that we will reach the ideal level that there are smart guys. hackers are our smart guys, who oppose it, but really the question here is, who is faster, who is better, and who can actually strategically foresee? here are some stories i have to say that despite the increase let's say. so losses, that's about fraudulent schemes in absolute numbers in terms of the share , it's just here to wear on the numbers, this share began to decrease. and this trend pleases us, but we understand that there is still a lot of work to be done, and in fact, we are banks here, and we copy very, very well. we have an understanding of what to do next when, this has been touched upon. i just i understand that the happy owners of bank account applications and so on will be more protected at the initiative of the central bank, which will force banks t

further bank consolidation into a far the number very large banks. my question is, is a scenario where further guidance where congress may be useful? for example by providing some well-defined wiggle room of least cross resolution, or are there more effective levers we may operate to prevent further bank of solid asian? >> in general the largest banks are not allowed to seek mergers to get bigger. there is a broad based recognition that having a diversity of banking organizations, community banks, regional banks -- >> this occurs at all levels of banks size. >> very often it's possible in failing banks situations to resolve an institution without merging it into the largest banks. >> -- i'm wondering if there's a useful way to tilt the playing field? the american preferences, but not mandates we put in federally. >> it's something we could look at. >> if you have time for a thoughtful response on the record for the site appreciate it. >> we'll do. >> in regards to the debt limit there's been uncertainty as to how the exact language -- applies to the

is it the bank's fault or the super debtor? in the program of 1402, we formulated a plan, we warned the banks that from next year we will pay more to the banks that there are super debtors in them and the person took the facility, the person took the facility and did not return the money . it should be followed up and he said that we will deal with the debtor, but we will deal with the bank the violator will be more serious. the system of automatic submission of judicial bill was unveiled. the head of the statistics and information technology center of the judiciary said that before this, people had to go to the court of judicial service offices to submit the bill, but with the launch of the automatic filing system, this work can also be implemented at home, mr. kazemi fard said that starting today, citizens can automatically go from home to announce the payment and request to expedite the processing of the case study request and accept the expert's theory . the judiciary announced the unveiling of the automatic sampling device