Financial Institutions and Markets (J)



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Author: AJSH & Co (New Delhi, India)

Contents:

  • What is a Bitcoin?
  • Understanding the basics
  • How a blockchain works
  • Bitcoin- Good or Bad?
  • How to obtain a Bitcoin?
  • Acceptability of Bitcoin around the world
  • Other Cryptocurrencies
  • Investing in Bitcoin
     

Read more: A Guide to Bitcoin: The Cryptocurrency and the Blockchain

At noon the Bank of England Monetary Policy Committee (MPC) raised the Bank Rate in the first time in a decade by 0.25% to 0.5%.
Whilst this is good news for savers, in reality the increase merely puts us back in the same place as last year before a cut in rate was made from 0.5% to 0.25% in reaction to the decision to leave the European Union.

The last time the MPC raised rates was 5 July 2007 and at that time the Bank Rate was increased from 5.5% to 5.75%. We may have a while to wait before we get back to those sort of interest rate levels as the Bank has been keen to stress, to balance the interests of borrowers as well as savers, that any further increases will be gradual.

The Bank Rate at 0.5% remains low and although we have seen banks and building societies deposit rates edge up in the last month they are still far lower than we have seen in the past.

Read the entire article.

On September 7, 2017, Equifax, one of the three main credit reporting agencies, announced a massive data security breach that, according to the Wall Street Jurnal, exposed vital personal identification data — including names, addresses, birth dates, and Social Security numbers — on as many as 143 million consumers, roughly 55% of Americans age 18 and older.

This data breach was especially egregious because the company reportedly first learned of the breach on July 29 and waited roughly six weeks before making it public (hackers first gained access between mid-May and July) and three senior Equifax executives reportedly sold shares of the company worth nearly $2 million before the breach was announced.

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Click the link below to view Investment Markets and Key Developments over the Past Week; Major Global Economic Events and Implications; Australian Economic Events and Implications; and more.

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On April 27th, we hosted a webinar for CFOs and Controllers of independent mortgage lenders on the 2015 financial and operating results and metrics from our Richey May Select Benchmarking program. Tyler House, Advisory Manager, provided an in-depth analysis of key production metrics, gross loan margins, pre-tax earnings, and expenses. Click here to view the webinar.

Read more: CFO/Controller Webinar: 2015 Independent Mortgage Lender Metrics