make banks risky.this has it backwards. this is the world turned on its head. i think the whole point of our overarching financial architecture is to provide supervision, liquidity, capital and operational risk management, a whole set of other things to take financial intermediation which is nearly risky and make it somewhat less risky. when i was leading the occ we did a series of things designed to do just this. we said, for example, banks have the authority to custody reserve assets of stablecoin projects. we also said banks have the ability to serve as validator notes on blockage which after all of the underlay networks of which stablecoins trial. with the bass heavy authority to custody crypto assets not to stablecoins but bitcoin and of the kinds of things. we did it not because we were blind to the risk of crypto stablecoins. we did so precisely because those activities are highly risky and ought to be supervised, you would think. if there was anything that underscored the need to do that it wou

we also know that bank deposits are an important source of funding for banks.so, the bigger question here is what will be the effects of that and the unintended consequences in the financial market structure. will this make the loans more expensive, the cost of credit, and so on and so forth. cdbc's in some quarters have been touted as sort of financial stability enhancing to the extent folks are worried about stable coins being sort of financial stability risks and perhaps cdbc might be an answer to that. but i think the jury is still out on that because if we've got sort of a flight to quality any crisis, that's going to be further destabilizing. so there's this whole sort of ambiguity around financial market structure. the second thing i've looked at in myke own scholarship is this question around individual economic rights. and really how money is a really important part of the relationship between people in the states. so, first there's the question of who gets to issue money?ue you can go back and i always lovenv when conversations start with the founding

the central bank transfer one unit to this other bank. that is it. that is all there is. there is nothing revolutionary where it works different than the standard bank account which is a revalue to it stable coin is kind of like a commercial bank with the claim to a dollar. as long as that claim is honored they would circulate like money. the thing with stable coins is what is the business model that supports it? what are you trying to do with that? how are you going to make money? there different models but in order to be successful you have to tell me why you do it. every large bank i talk to they said has no interest they seen no value process. but at the end of the day if you did issue one it would circulate like any other and trade with u.s. dollar. there is nothing fundamentally wrong the peacocks i have commercial bank digital currency that trade with the dollar. the federal reserve account has been proposed that leading scholars that vanderbilt law and other places has come out with the idea of a fed account that would require eig

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 employer deposited your salary into the bank account, the bank wrote on your account how much he this as the card balance. you paid for the purchase with a card, the bank transferred money to the store, the amount of the bank's debt to you has decreased, the balance of the card has also decreased, it's convenient for everyone, you can carry large wallets, service atms, you can unload cash registers and retail staff. total, while they are working in our country two formats of money, paper and electronic, the third will be the digital ruble. the digital ruble is the same ruble that we pay in stores now, just adapted for trading in the digital world. our national bank will issue them, and all transactions with this form of money will take place through it. for this. a separate electronic platform will appear under reliable security. to use digital rubles, people will create electronic wallets and log into them through the internet banking application in their gadgets. wherein it doesn’t matter which bank the user is a client of. all transactions with its digital rubles will take pla

the central bank transfer one unit to this other bank. that is it. that is all there is. there is nothing revolutionary where it works different than the standard bank account which is a revalue to it stable coin is kind of like a commercial bank with the claim to a dollar. as long as that claim is honored they would circulate like money. the thing with stable coins is what is the business model that supports it? what are you trying to do with that? how are you going to make money? there different models but in order to be successful you have to tell me why you do it. every large bank i talk to they said has no interest they seen no value process. but at the end of the day if you did issue one it would circulate like any other and trade with u.s. dollar. there is nothing fundamentally wrong the peacocks i have commercial bank digital currency that trade with the dollar. the federal reserve account has been proposed that leading scholars that vanderbilt law and other places has come out with the idea of a fed account that would require eig

the people that are banked in a bank. they do not have people accessing the banking system -- systems today. you go back 20 years. i don't know what that was. maybe 15, 18 years ago. what that did is pushing wealthier customers at the expense of underpaid customers the overdraft fee burdens and the fee policies placed on lots of everyday americans. moving out of the banking system we have a situation where many have not come back based on the experiences. they are using a more flexible account. i think that, actually, what we need to do is drive more general access to the banking system here. create these flexible charges and payment systems that allow banks to continue to innovate. and to create better experiences that will bring a lot of these un- banked in under banked people back into the banking system to have had this experience. >> do either of you want to chime in? >> the question for un- banked folks is really why are they on banked? why are they not in that space? they do surveys of this every so often. of cours

loan to the bank, then it is necessary to write an application to the bank demanding that the error beers can accept such requests remotely within ten working days; the creditor is required to conduct a check and forward the data. but it may happen that the bank or financial institution does not agree with your arguments. in this case, you can send an appeal to the central bank or solve the problem through the court. but don't let this confuse you, there is an easy way to request all stories at once through government services. on the portal, open the service for obtaining information about storing your credit history, click start. then check the correctness of the data that is pulled up from your personal account, send a request, a response from the bank of russia will come to your personal account. formal waiting period. one working day, but in practice it is 10-20 minutes. open the response received, select the agency from the list and go to its website, register and request the story itself. each office's registration process and requests are slightly different, so follow the instr

it's more planes also hit a mock compound in the west bank. this is as well again, urges civilians in gaza to go south. also coming up on the show, growing anger in the west bank. the un says thousands of palestinians have been killed in classes with this rarely forces. and a p summit in cairo and without agreement as regional and western powers. trying to solve the conflict from escalating into a wider war. the . i'm quite richardson, welcome israel's military size. it will intensify. strikes on garza ahead of an expected ground defensive. the homeless government says more than 50 people were killed overnight in his riley attacks. this as the is rarely military repeated, it's mornings for civilians in the north of gaza to move south for their own safety . but israel has also made clear that it plans to continue its bombardments. there is dryly strikes ongoing thoughts that density of hon. eunice matrix. dress dozens of wounded to hospital meteor reports the district type, assigned me neither. you in school, which was the hosting recently disp

in the banking system. to check the details of this news, i will talk with the deputy supervisor of the central bank, mr. mohammadpour . hello, please tell me about the new supervisory model of the central bank. what is going to happen in the name of allah, the merciful, the merciful. greetings and respect for your service and to all my dear audience, i will serve you as you expect. the law, in fact, the plan of the central bank was approved on the 22nd of mehram this year by the expediency council, maybe for about two years, this law was passed in the islamic council and later in the guardian council, which approved a series of articles of the law. iran was actually considering some reforms, and then in the series of expediency of the system, these proposed reforms were implemented and actually approved in the assembly on 22 mehr 1402 , of course, the history of reviewing this law goes back to the beginning of ten, maybe 10, 11 years ago, which somehow the discussion of changing the country's banking law s

banks have no alternative but to shrink, small banks.harles: banks in general get paid to hold this money. the fed doesn't want, the fed is trying to take money out of the economy. before i let you go, got only less than 30 seconds, key investable themes and asset allocations. industrials, right? >> industrials, semis. i would broadly the describe the economy as a potential productivity boom set against a policy bust. so i think we could have a very strong capital spending cycle, strong productivity growth. a.i. is just a portion of that story. charles: right. >> so industrials as we rebuild the capital stocks, semis obviously with the ai. charles: right. >> health care starting to adopt technology to better deliver outcomes. charles: right. >> but i'm short the banks. charles: you're short banks? we got a bank expert coming up. we'll find out about that. great stuff, barry, really appreciate it. later in the though arthur brooks will join me to talk about happiness. on a day like today maybe we need to hear that message. we're watching

most fargo is faring better than most other banks -- then some other banks, especially bank of americaoptimism in wells fargo. a couple years ago, you saw different stock. the turnaround is taking storm. jonathan: most fargo is up by 3%. let's turn to jp morgan. i.b. revenue comes at 1.4 billion dollars. the estimate was $1.48 billion. breaking it down to equities. 2.07 billion dollars and the estimate was 2.2 $7 billion. break this down for us. compare fixed sales and trading to what is happening with equities at j.p. morgan. sonali: this is pretty clean. there investment banking revenue coming in just a little bit over. for it to come in at 4.5 billion dollars versus four pray $3 billion is nice a huge is different -- versus $4.3 billion is not a huge difference but is nice. for them to show numbers in core institutions that are better than expected is a decent sign because it is telling you they are making money from the businesses and consumers. to the point you are getting at, the reason fixed sales and trading data matter so much as there is a question of whether it is stifling o

sepeh bank has fulfilled about 40 of its commitments, bank mellat 20% , bank melli 13, bank tejarat 12 and bank saderat 10%, and the rest of the banks have performed extremely poorly, and now we expect it to be dealt with, god willing, mr. safarm. we had zero, yes, several banks like bank noor i would like to tell you that it has been zero. bank noor private bank, noor banki, a credit institution, a financial institution, a credit institution, a bank, i have to tell you that the middle east has been zero, i have to tell you that the bank above it has zero capital. sometimes, well, the banks that are cooperating well in the banking network are some of these. the banks that do not cooperate at all are getting banking education regarding the housing price movement that you said is over. well, we have a serious issue in the ministry of the city regarding the issue of building taxes. well, now 30 discounts are being given . at the ministry of cooperation, there was a good reduction social work has been done in the field of insurance, and we are trying to do other things. by the way, thank y

our ideal central bank is a central bank that can monitor every rial that people deposit in the banking system. education network broadcasts various programs in the fields of medicine and health, general information and persian literature in november. the broadcast of sawad yaran tv series will also start soon on this channel . roish with the aim of increasing skills in agriculture, animal husbandry and fisheries every day at 19:00. and the golden ball with the topic of measuring public information every night it will be broadcasted on education network at 23:00 . can't you find certain diseases? he took a few medicines, but the price was several times higher than before. the behavior of our health system is not protocol. hello, good companions, dr. hello. and dr. salam teaches identification and prevention of diseases every day at 13:00. every day at 11:00 and 15:00 , there is a review. our story is over. i i am from zest, and the broadcast of the swad yaran series , which deals with the issue of eradicating poverty, will begin soon. you don't want to learn literacy ? marjan sadeghzade

and specialist banks and regional banks not just the top four or five institutions, the very large megabankswere looking at the sector very closely it needs private capital to be invested and were keeping a close eye i agree with cityview. elizabeth: you helms barclays bank during the financial crisis all what not having enough capital on a balance sheet havoc that it can wreak, you say is not so much that the bank should be sitting there piling up their own in the private investment is going to be very helpful in these cases. >> i think we will see consolidation if you looking for, for a half thousand banks in this country i think we will see some consolidation that ends up in 3045 institutions, the value of the community banks and specialist banks in the small businesses is very, very clear. as they adjust and as they adjust they frankly 5.5% interest rates are good for financial services. the adjustment period that is necessary. and for the smaller banks is way overstated and des moines, iowa with los angeles and san francisco. to the point i'm glad you brought up commercial real estate.

but the central bank notified it to the banks after about a year and a half delay on may 100. almost 2 years have passed since the notification , the employees of some banks still do not know about the check. look at the current account he opens it, takes his hand, it has its own conditions, but if we give a check, we don't have the card working at the moment, some people who are aware say that it has arrived, but it was not announced for their implementation, the problem is that many banks have not implemented this yet, and in my opinion if it is possible to receive cash checks electronically, then the withdrawal process will be much easier for the people. central bank officials say that the law on cash checks has been implemented , but the banks have not accepted the possibility of issuing cash checks to their customers, technically and structurally. darren and also the circulars and action instructions related to case checks have been issued through the central bank and communicated to the banking network. the important thing about the case check is that it is not very popu

lisa: all of the big banks have been upgrading who they serve and this is banking for the wealthy, banking divergence with the big banks and the small banks that may not have that discretion. tom: what he showed was brilliant, where other new 5, 10 banks beneath the majors that are going to compete and the answer is that is the conundrum of the government spaces. with all the legacy back to the 19th century. jon: bank of america here up by 0.6% in the premarket and the equity market negative by 0.3% and if you look across a range of businesses, consumers vehicle living -- it has been climbing quarter to quarter. it is amazing to see. tom: did you see the delinquencies on auto loans on younger people? i had never seen that number -- they don't have credit scores like that. jon: third quarter 2022, 7 point 89 and the second quarter 2023, 7 .95 and thir quarter 2023, we are getting closer to 800. for anyone who tracks their credit support -- credit score, 800 is high. tom: the bond market is walking away, six basis points. we are walking away and it the last hour, what has the spread been? li

principle: the bank is the client, in the classic issue of lending, there is a financing bank, therenefit from cooperation with each other. our work in this area, it is a little broader, it is wider one step to the left one step to the right, the state determines the priorities of socio-economic development, identifying those tasks that are necessary among the most critical, important, most quickly solved in the country, forms a resource basis for the development bank, the development bank fine -tunes the filter for which funds that should give the return that the state has programmed, after which the funds... are distributed among small and medium-sized businesses, for projects that they initiate, or that correspond to those tasks, in the end result we have that indicator, that direction, that result. for the sake of which the state formed resource support for the economy, therefore, in the case of building financial relations with a development bank, supporting small medium-sized businesses through the development bank channel, we achieve broader, large-scale, significant goals tha

and the israeli regime blames the increase of of armed resistance in the occupied west bank especially in the general refugee camp on uh on the uh islamic jihad movement in gaza whether through training or or financing uh what we've seen - over the last few years is increase in the uh range of of rockets manufactured domestically in the ghaza strip by the islamic jihad military wing or by hamas's military wing al qassam brigades we also seen unity and coordination between all palestinian resistance fashions what what what what we have seen that's been extremely evident the fact that the growing uh arm resistance in the occupied west bank and the growing uh strength and and and power of uh of the islamic jihad's military wing that puts brigades not only in the gaz strip but also on the occupied uh west bank all right thanks lot ashraf press tv's ashane joining us from gaz i'm not sure if we've got miss al-udaini with us if not then that brings us to an end here on this. into the program, but we're going to return to the normal course of programming. all right, i believe we do have miss

as the bank of england governor and as the bank of canada governor, do you think the central banks recently figured out inflation was more serious than it was too late, or do you think they recognized early on it was going to be serious and they did not do enough about it? mark: i think in hindsight, they realized it too late. they were operating under the old paradigm. it was an issue of not enough demand, and that is something that works well, generally, until you have a bunch of supply shocks. we had a covid supply shock. we had an energy shock. we had shocks with supply chains, geopolitics. all of which meant there was more than transitory inflation. it took a while for central banks to fully recognize that and start to respond. david: do you think they have done enough and do you see anymore rate increases likely to come about? there are many people in the market who think another rate increase in the united states is likely. what do you think about that? mark: for the first part of the question, i think once the fed started to move, it did respond in a very effective manner. it consis

our banks are three categories of healthy banks. and well, d banks with problems, but it is possible to reform and revive them, 3 banks with problems, which cannot be reformed. we are taking quick action on the third one, removing them from the monetary and banking system so that the situation of the banking system can be improved, removing irreparable non-aligned banks, a topic that has been heard many times by government officials. it can't be leveled , it can't be leveled anymore, you have to go to the resolution of the banks some of them are due to the government's duties and some are due to the inadequacy of the system. mistakes and abuse of the power of money creation led to dissatisfaction with loans that did not return. something happened to bank qavamin and the group of military banks in the country and the government had to make a different decision because of the important imbalance that existed in bank qavamin. the big disharmony that happened after that in the noor institute, the one that happened today in the future ba

there are also bank-owned apps that travel within bank rails like zell. others are big tech firms. as i mentioned in china, alibaba's alipay and wechat's wechat pay became dominant in retail payments. in the u.s. and across the globe, apple and google traffic glow -- a growing number of payments through their digital wallet. starting in late 2021, the cfpb began to study these payment platforms including the big tech firms. we issued orders to many of the major players operating in the u.s., and last month at the federal reserve bank of philadelphia we released our analysis of tap to pay teachers, describing the regulations imposed by apple and google. we spent considerable time evaluating the complex data handling practices and privacy protocols at these firms. these firm's regulations are often long and filled with legalese. we often click right through them. to make things even more confusing they sometimes refer people to other policies to understand what data is being ingested, how it is being used, and what, if any, rights a person may have. and while there regulations are co

the creation of our nation central bank, the fed was a further acknowledgment that banking and payments had important public infrastructure importance. the nations payment systems. the payment driven in part by technological adoption of the telegraphth. the said invested in an architecture that created public utilities for wire services, ach transfers and now real-time payment. to be sure, our country is not always devoted theur necessary resources to ensure fast and open payment options over the last few decades. during this time, lots of private gatekeepers emerged. decades ago new private electronic payment networks like visa and mastercard started to grow they names, they grew over time. ultimately, they still move money through the regulated banking system through the backend relying heavilyco on communication rails built outside of the federal reserve system. at first, these networks mostly were facilitating short-termm borrowing. largely through charge card. credit card. over time,e, modern day debit cards through in a massive portion of those networks traffic. in general purpose

to to, to the bank. and he has several meetings with the doctor that mr roberto just or the company that i would add to registration that they signed the contracts with the bank for the good the money. so this was around 300000000 rebecca signed a contract with the organ bank because organ bank isn't owns a gold mine. is that what you say? my products. uh they were waiting for the site. it shows uh, just to make this payment on the computer. was there any kind of uh, due diligence that was done? oh, i see still at the event that we gave a couple minutes to the event which this is this, the capability to make this. so with the bus to look, see you see fit soon as possible. as far as the nothing ever arrived. no money ever arrived. yes. so it's the same thing. so stopped according to ship the piano back critical that it travels across central asia, together, collecting contracts for suppose that future investment projects with hundreds of millions of dollars. sheffield said that because that is show docume

is it an issue where you look at different tears of banks, big banks versus small banks, or are therehers, and which stocks do you like the most? >> it's a good question. commercial real estate is obviously a big loan category for the smaller banks in the country, and the banks under $50 billion in assets, and the larger banks, the exposure to commercial banks is low, and what is interesting, though, becky, is the borrowers will work with the banks, and they are working with the banks and the customers, and if the properties are fully leased and it's a issue of higher mortgage values and if the properties are 40% vacant, you have a serious problem. for the banks, most of that problem is in the shadow banking system. in terms of banks to potentially own, bank of america is one of the bigger banks, and some of the bigger banks, bnc and some reporting this week, it's a way investors could own banks go into the end of the year. >> thank you. >>> coming up, we have a big deal in the hotel business. we will bring you the details. it's a hostile transition after the break. >>> and then linke

for example, using the service of the bank of russia to provide information about the bank accounts,istory. on government services you will receive a link to the official website of each bank, which stores your credit history. so, bki is obliged to provide a report in electronic form upon request free twice a year on paper. one, then the service becomes paid, but the number of requests is no longer limited. some bureaus offer a subscription, according to which they send the history regularly and can even warn about each new loan issued. you've got your credit history, but how do you know how good it is? mki will evaluate everything for you, the rating depends on the likelihood that you will be more than 90 days late on payments. each bank has its own set of data on loans and its own calculation methodology, so ratings may vary, what to do if you realize that you have a bad history, the main thing is not to rush into the arms of scammers who offer to improve your credit history, which of course is not free. there are not so many legal ways to correct your credit history, but firstly,

so this was around 300000000, which rebecca signed a contract with the oregon bank because oregon bank isn't owns a gold mine. that what you say my products full time to go to the site. it shows like a drive uh, just to make the investment on there. uh oh. yeah. okay. the problem was there any kind of uh, due diligence that was done to the reinstate it, but he gave me a couple minutes today and, and which this is this uh, capability to make this so with the bus to go to the cri, you see fit. so as far as soon as possible. nothing ever arrived. no money ever arrived. yes. so it's a state so stopped according to ship, the piano bet protocol that it travels across central asia to get collecting contracts for suppose that future investment project with hundreds of millions of dollars. sheffield said that because that is show documents testing to is incredible. well, to convince the companies that he had the money needed to invest. was there a connection between these documents and the 2 trillion euro fraudulent transaction that the premium police had discovered? in order to find out, we wr

yeah, about 30 years ago midland bank was a bank- ago.ah, about 30 years ago midland bank was a bank that l ago. yeah, about 30 years ago i midland bank was a bank that had very little capital, was barely making any money and because it didn't have much in the way of capital or money it was finding it difficult to make any money. i was involved in a project at the time to try to help it to make as good use as a good of the little capital letter got in order to grow itself and get out of the mess it was in, but in the end the solution turned out to be a takeover. it was taken over by hsbc. i out to be a takeover. it was taken over by hsbc-_ out to be a takeover. it was taken over by hsbc. i believe metro bank ist in: to over by hsbc. i believe metro bank is trying to sell— over by hsbc. i believe metro bank is trying to sell a — over by hsbc. i believe metro bank is trying to sell a third _ over by hsbc. i believe metro bank is trying to sell a third of _ over by hsbc. i believe metro bank is trying to sell a third of its - is trying to se

the national bank will keep the situation under control.her a significant weakening or strengthening of the hryvnia. if necessary, it will compensate the need for currency from its reserves. thanks to international aid, they are now at a record high of $40 billion. it is noteworthy that in the first days of currency softening, the hryvnia remained stable at the interbank and exchange offices. vasyl furman, doctor of economic sciences, is in touch with us. mr. vasyl, i congratulate you, thank you for joining our broadcast at this time and i want to ask , what really will be different from the strict control that existed until october 3 on the part of the national bank of ukraine, and now here is this free, flexible exchange rate, as the regulator says, because it will still monitor and allow, as the national bank stated, significant fluctuations will not be allowed, and they will help with infusions, i congratulate you, thank you for your question, well, first of all, the control of the national bank, as it was and will be, and the national

for example, using the service of the bank of russia to provide information about the bank accounts inry is stored, on government services you will receive a link to the official website of each bank account in which your credit history is stored. so, upon request, it is obliged to provide a report in electronic form free of charge twice a year on paper once, then the service becomes paid, but the number of requests is no longer limited. some bureaus offer subscriptions which sends the history regularly and can even warn about each new loan issued. you've got your credit history, but how do you know how good it is? bki will evaluate everything for you, the rating depends on the probability. the fact that you will be late on payments by more than 90 days, each bank account has its own set of data on loans, and its own calculation methods, so the ratings may vary, what to do if you realize that you are in a bad situation, the main thing is not to rush into hugs from scammers who offer to improve credit history, of course, is not free. there are not so many legal ways to correct your cred

so this was around 300000000. rebecca signed a contract with the organ bank because organ bank isn't owns a gold mine. is that what you say? my products. they were waiting for the tax because it shows like a just to make the investment on the computer or was there any kind of uh, due diligence that was done to the event that we gave a couple minutes to the event. the rich, this is this the capability to make this so with the 2 or 3 years he's been since he did this process as well. so nothing ever arrived. no money ever arrived. yes. so it's, it's fake thing. so stopped according to ship the piano back critical that it traveled across central asia to get collecting contracts for support the future investment projects with hundreds of millions of dollars. sheffield said that that is show documents testing to is incredible. well, to convince the companies that he had the money needed to invest. was there a connection between these documents and the 2 trillion euro fraudulent transaction that the premium police had discovered? in order to find out, we wrote to oregon bank, asking them t

>>> plus, bank on it? the financials kicking off q-3 earnings season into high gear, starting tomorrow what they could say about interest rates, the consumer, and what's in store for the markets for the rest of the year. >>> and later, delta, attempted rally hitting some turbulence. engine trouble at ford, and a fast mover. a name we rarely mention on the show. the stories behind three stocks today. we're coming to you live from studio b at the nasdaq. on the desk tonight, we have tim seymour, dan nathan, guy adami and our special guest trader tonight, kristen bitterly. welcome to everyone. we're going to start with the late-day selloff. the dow falling as much as 350 points at its lows. the nasdaq and the s&p down as much as 1.2%. the indices closing off their lows of the day, but all three still snapping a four-day win streak. the pull-back colliding with that 30-year treasury option that showed weaker demand. jumping back to nearly 4.9%. all of this as wall street was digesting the latest cpi data. cons

system, we have a central bank, it regulates banks as agents, these are the financial agents of thetions of such a single large bank, that is, in my opinion, the central bank is completely lowering it. here at the level of commercial banks and becomes a full-fledged player, there is no difference , no, the central bank creates this platform, well, the same way, why don’t you then protest against fast payment platforms, yes, this is the same thing, only electronic , this is a tool, this is a means, okay, this is a question, just for understanding, and one of the theses of the cdc was that even if there is no communication infrastructure, that is, there is no... access to the internet, electronic wallets of citizens, yes, that is , what is it like everyone is already familiar with, probably, a flash drive, something else, you can use this money where there is no internet, physically, this is how it happens, that is, i approach a gas station, which is located in the steppe, let’s say there is infrastructure there, it’s like a cash register equipped with access, that is, i put a flash d

, inside the perimeter of the bank, but the money is: on this the very platform of the bank center, thatakes it a full-fledged player in the commercial market, and banks are not afraid of losing some part of the function, respectively, commissions for servicing this money, well, apparently they will have to lose something, yes, but as we know that scientific and technical progress, as they say, change or die, well, like yes, because you understand, we cannot resist the fact that we do not have cashless. turnover, someone might be interested in pure cash when will it disappear? according to your forecast, now we have already moved from non-cash money to not just non-cash money, but also to a digital ruble, imitated by central banks, when cash dies, and you know, i wouldn’t look at the digital ruble as an additional funeral team, yes funeral team, but so here serious analysts, these conversations have been going on for a long time about the funeral of cash, have advanced to the greatest extent. along this path is iceland, they have more than 90% of non-cash people, well, firstly, there are

keep in mind for bank of china and has a lower ratio for chinese banks.ve no ability to buffer earnings by releasing provisions and it's a challenging year because chinese banks are avoiding a credit crunch in the local debt market with loan provisions and rollover which can hurt the asset quality and profitability in the sector. rishaad: thank you, felix, breaking news editor. let's have a look at what we have coming up and highlighting 90 minutes ago hsbc's earnings got the chief executive coming out and talking about 5:30 a.m. london time. not the only one coming out with earnings. yvonne: 2 trillion market cap, msci china, byd, bank of china as felix mentioned. a flavor in the mainland. automakers, toyota. plenty on tap today. busy for central banks, the big three, the fed are expected to hold. we are looking at treasury borrowing plan on wednesday. that might overshadow we hear from jay powell but it is the boj. boj is the wildcard. rishaad: it could send shockwaves across this. we had noel telling us about the butterfly effect. it happens on one sid

and at the b, i s the bank for international settlements, an umbrella organization for central banks. the leader of a o. s we learned was a russian man called loudly. mia, even though beach comes according to background checks, run by its housing authorities during the 2014 securities fraud investigation blog . you mean comes i had previously been at the center of a number of scams involving faith securities. we wrote a comes up well now seems to reside in the united states to ask him about alpha omega station. not for the 1st time in this investigation, we had a less than clear reply comes as simply told us to look for a man called the nearly button former commodities broker, who could explain the matter to us. and then maybe on the phone for an equal time to get you someone fucking nickel. why don't people, i'll give you all the top kill by keep, keep occupancy because i for monday just if you can get somebody put a corporate, give me a bit of 40 on my case. i don't run the light of this to lesson, but i that is something with that off cap or soon, but i know they called say they ar

central bank has had an unfortunate | bank has had an unfortunate turn of events.hout the invasion of ukraine, we would not be facing such a large inflationary episode. it was just a coincidence of the supply chain snarls as covid was ending, and then working through that as the commodity prices increase came from the war in ukraine. without that, central banks would not have had such a tough time, they have risen, rates, pretty fast. people could have argued they could have done a quarter points a couple of meetings earlier but i don't think that would fundamentally change the situation. a deeper issue is the inflation we have now is not really in central banks's remits. there is supply chain snarls, the war in ukraine, and a bit of pent—up demand from the covid stimulus checks and the covid stimulus checks and the fiscal boost that governments have done. so things that are more supply—side issues more than what central banks could fix. rates have gone up a lot, and thatis rates have gone up a lot, and that is something that will cause growth in the us to taper of

our traditional answer is banks and things that look a lot like banks. i think the policy question now is one of our the other types of firms that just don't present settlement risks where we could expand this? i do think the answer is yes. some of the storms are in a legal fight right now in order to get access on existing terms top but i think the fact they're having to fight the fed on this is one reason for congress to intervene. and the other types of firms would like access and a think should have access who are then not the type of firms we typically think of in the safety and soundness way. this is why i make the distinction between clearing and settlement rails, is that banks suck at technology. i know this. ident technology for banks in my career. it's not that there are not great people but the challenges of legacy technology stacks huge often amalgamated businesses and the fact that they're full of bankers and not software engineers means that when it comes to moving the clearing rails i had using new technology to do things that the next gen

it that mean for the european central bank?— that mean for the european central bank?ank? it is a welcome development for _ central bank? it is a welcome development for the - central bank? it is a welcome | development for the european central bank, it is a significant fall in inflation but what i would say it is not the end of the story. for the central bank wants to focus on core inflation, which has been a lot stickier expect that to fall as i said to something like % or4.5%, fall as i said to something like % or 4.5%, that is the true measure of domestic pressure on inflation and that is what they are laser focused on, that is what they will need to bring down. in on, that is what they will need to bring down.— to bring down. in the light of that what — to bring down. in the light of that what you _ to bring down. in the light of that what you think - to bring down. in the light of that what you think the - to bring down. in the light of that what you think the ecbl that what you think the ecb will do at its next meeting? they are very comfortable staying where th

this is the discussion of banks.sed the banks that you should spend 20% of your resources annually in the field of housing. what if you didn't bring it? the ministry of economy and finance should tax you, so to speak. now these tax crimes have a long process and practically, they could not charge any bank and tax from it. i would like to tell you that unfortunately, most of our banks fail in the field of housing loan payments . less than 10% fulfill their obligations. we have a bank that 1. half percent 2. he has fulfilled his obligations. it shows that banks are not very interested in paying for education in the field of housing. because it is 20 years old to pay for housing education, they like to go into banking , so-called business areas and other areas where they can get more resources sooner. some banks really have a place to complain that they should be looked at the issues of the country and the problems of the people should have a national perspective. also consider that here only maskan bank, which is a sta