Новости

Ukraine excluded from the FATF “black list”

The Financial Action Task Force (FATF), which is an international non-government organization against money laundering, has excluded Ukraine from its “control list”, told yesterday deputy chief of the president’s administration Irina Akimova.

Opportunities for M&As in resource mining and metallurgy – E&Y

According to Lee Downham, mining and metals partner at Ernst & Young LLP, in the very last quarter of 2011 they expect rise of M&A activity in the mining and metallurgy industries, caused by the desire of companies with large accumulated funds to increase their investment portfolios by taking the opportunity of recent revaluation of assets to a lower value.

S&P and Moody’s confirmed highest possible ratings for the EFSF

The international rating agency Standard and Poor's (S&P) confirmed the credit rating for the European Financial Stability Fund (EFSF) at the highest level (AAA), outlook “stable” – informed Europe1.

Minfin asked to think about requirements for insurers. Again

The government of Russia is asking the Ministry of Finance to develop new proposals to increase minimal capital requirements for insurers. This is a big surprise for many market participants because the question of minimal capital was solved long ago.

Further ideas on how to make an IFC out of Moscow

To create an international financial center in Moscow, still too many important things need to be done – concluded Russian and foreign investors at the “roundtable” meeting which took place in Sberbank last Friday.

U.K. accounting group warns SEC against condorsement

The head of a British accounting group is warning the U.S. Securities and Exchange Commission and the Financial Accounting Standards Board against pursuing a so-called “condorsement” approach to International Financial Reporting Standards.

ECJ rules on bank debt VAT liability

The European Court of Justice (ECJ) has issued a ruling that where a bank assigns a portfolio of debts to an assignee at a price below their face value, there is no supply of services by the assignee to the bank.

New Zealand to consider ways to reduce excessive disclosures under IFRSs

The New Zealand Accounting Standards Board (NZASB) is to consider a short-term action plan to encourage the reduction of excessive disclosures at its upcoming meeting on 2 November 2011.

Micro-entities will be required to create reserves just like all banks do

The Ministry of Finance and the Ministry for Economic Development of Russia want to oblige micro-entities to create reserves on credits similar to the way it is done by banks. This will make small financial entities more resistant to risks and shocks, but will increase their expenses.

50% of Greek debt written off; EU banks require 106 billion for recapitalization

Yesterday in Brussels European leaders reached an agreement with private creditors of Greece concerning the 50% write-down of its debt.