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Posts Tagged ‘Banking and Finance’

Android, iPhone Mobile Banking App on the go

How To Bolster Banking Technology Infrastructure and Address Cyber Risks
By S.K. Selvaraj, Tripwire, Apr 25, 2016 [Excerpt]

Technology infrastructure (TI) at banks involves a dizzying array of things – from employee laptops and desktops, software applications, and hosting networks to networking and cabling linking offices around the world, Internet of Things (IoT) devices, sophisticated enterprise tools, data centers… and so on.

Just as a country needs its critical infrastructure for economic growth, TI forms the backbone for the financial industry. TI used to be behind the scene for many decades and catered to important tasks, such as storing financial data in mainframes.

However, it then became an enabler of business with rapid growth in communication bandwidth, networking and software products. With the advent of internet followed by the mobile revolution, infrastructure became even more prominent as it became part of consumers’ daily life. (more…)

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Villatri - Informaciones: febrero 2012ING Bank to Pay $619 Million Fine in Largest Ever US Economic Sanctions Penalty
From Steptoe.com, June 18, 2012

On June 12, 2012, ING Bank, N.V. (ING Bank), a [Dutch] financial institution, agreed to forfeit $619 million to settle criminal charges brought by the United States and the State of New York and civil claims raised by the US Department of the Treasury, Office of Foreign Assets Control (OFAC).  ING Bank was charged with conspiring to violate US economic sanctions and with violating New York state laws by illegally moving billions of dollars through the US financial system on behalf of Cuban and Iranian entities.  The $619 million fine is the largest ever against a financial institution in connection with an investigation into US sanctions violations and related offenses. (more…)

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Red Fox Cookie Jar by michelled1953 on Pinterest | Red ...

Anti-Money Laundering (AML) Certification with ING.
~ ING website 2017

ING Bank N.V. Agrees to Forfeit $619 Million for Illegal Transactions with Cuban and Iranian Entities

Department of Justice
Office of Public Affairs

FOR IMMEDIATE RELEASE
Tuesday, June 12, 2012 [Excerpt]

WASHINGTON – ING Bank N.V., a financial institution headquartered in Amsterdam, has agreed to forfeit $619 million to the Justice Department and the New York County District Attorney’s Office for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) and for violating New York state laws by illegally moving billions of dollars through the U.S. financial system on behalf of sanctioned Cuban and Iranian entities.  The bank has also entered into a parallel settlement agreement with the Treasury Department’s Office of Foreign Assets Control (OFAC). (more…)

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Photos: 11 of the world's most high-tech farms - Page 6 ...Rothschild  Sells Stake to Rabobank
News 2008

As lenders globally continue to write off and provision for a significant volume of soured loans, UK’s Rothschild group, one of the world’s leading investment banking organizations, has posted record results. The bank has been able to maintain its very strong performance again this year, despite the credit crunch, economic slowdown and the threat of a U.S. recession, with investment banking and corporate banking businesses both producing record revenues.

The bank, according to Timesonline – reported a 31%, 459 million euro, improvement in profits. In addition, record results from the organization’s advisory and private banking operations enabled the bank to pay record bonuses to its 2,700 people in June. (more…)

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Rothschild & Co SCA

ROTH.PA on Paris Stock Exchange: 30.37EUR
Change (% chg): €0.04 (+0.12%)
Prev Close: €30.33
Day’s High: €30.54
Day’s Low: €30.27

Aug 9 (Reuters) – ROTHSCHILD & CO SCA : :ROTHSCHILD GLOBAL ADVISORY: Q1 REVENUE DOWN 6% TO €225 MILLION (Q1 2016/2017: €240 MILLION) (ADDS DIVISION).Q1 REVENUE EUR ‍​ 409 MILLION VERSUS EUR 390 MILLION YEAR AGO.WE WOULD EXPECT OUR REVENUE FOR THE NINE MONTHS TO DECEMBER 2017 TO BE SLIGHTLY BELOW LAST YEAR’S LEVEL.ROTHSCHILD PRIVATE WEALTH & ASSET MANAGEMENT: Q1 REVENUE UP 40% TO €126 MILLION ‍​.ROTHSCHILD MERCHANT BANKING: Q1 REVENUE DOWN 16% TO €47 MILLION‍​.

People
Name Age Since Current Position
Eric de Rothschild – 75 – 2004 Chairman of the Supervisory Board (more…)

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Walgreen's - New uses for failed banks - Pictures - CBS NewsList of banks acquired or bankrupted during the Great Recession

This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:

  • taken over or merged with another financial institution;
  • nationalised by a government or central bank; or
  • declared insolvent or liquidated.

(more…)

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WAR IRAQ VS KWAITManaging the Crisis: The FDIC and RTC Experience
Chronological Overview: Chapter Fourteen—1991

[The] Bank Insurance Fund (BIF) dropped below zero to a negative $7 billion. On April 30, 1991, the FDIC issued a regulation raising the deposit insurance assessment rate from 19.5 cents to 23 cents per $100 in assessable deposits. That increase in assessment revenue was designed to help offset BIF losses, which had been outpacing revenue since 1984.

Economic/Banking Conditions

While the U.S. was still involved in the Persian Gulf War, the U.S. economy had negative growth in 1991 with Gross Domestic Product down 0.97 percent.14-1 Employment growth also was negative at -2.1 percent. The unemployment rate continued to rise with a substantial increase to 6.8 percent, up from 5.6 percent a year earlier.14-2 The discount rate decreased by more than one and a half points to 5.5 percent, and the 30-year mortgage rate fell to 9.3 percent.14-3 Inflation also was down slightly at 4 percent.14-4 Home sales and housing starts remained steady while the office vacancy rate continued to rise and was at 18.9 percent.14-5 Total real estate loans in the U.S. continued to increase to 26 percent of assets, as did commercial real estate loans, rising to 7.3 percent.

(more…)

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