Новости

Crisis “celebrates” first year anniversary

Exactly 1 year has passed since bankruptcy of one of the major US banks - Lehman Brothers Holdings Inc. September 15th 2008 is a conventional beginning of the financial crisis, with a scale similar to the Great Depression of 30-es.

FFMS assists management companies with risks

The Federal Financial Markets Service of Russia has developed an act to allow management companies to work on derivatives markets and on the market for REPOs. According to the regulator’s idea, this opportunity will be used by organizations to protect their assets from decrease of their value, but not as an instrument of additional income.

FSA promises action over Lehman-backed structured products

The Financial Services Authority (FSA) has uncovered “serious issues” in its probe of Lehman Brothers-backed structured products and has promised to take action against providers and advisers.

ASB issues Amendments to UITF Abstract 42 and FRS 26 - Embedded Derivatives

The amendments clarify the treatment of embedded derivatives when an entity reclassifies a financial asset out of the fair value through profit or loss category.

NBU called for tough currency regulation

The National Bank of Ukraine is strongly adviced to introduce a hard currency corridor – announced ex-deputy chair of NBU Alexander Savchenko.

Protection of trade slows down recovery

Protection of trade (including subsidies given to problematic industries) acts against international trade, which in its turn slows down recovery – says the report of the World Trade Organization.

ASBJ and IASB reaffirm their ongoing cooperation in achieving convergence in accounting standards

The Accounting Standards Board of Japan (ASBJ) and the International Accounting Standards Board (IASB) have held their tenth meeting to accelerate convergence of Japanese generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRSs). Led by Ikuo Nishikawa, Chairman of the ASBJ, and Sir David Tweedie, Chairman of the IASB, the meeting took place in London on 7 and 8 September 2009.

Greenspan named the fundamental cause of the crisis

All financial crisises differ from each other, but they all have something fundamental in common: the inexhaustible belief of common people during long times of prosperity that things will be going like that forever.

Ukraine getting better for doing business

The report (“Doing Business 2010”) was issued by the World Bank and the World Financial Corporation.

Duma wants information on Russian bankers’ bonuses by September 16th

Speaker of Russia’s State Duma Boris Gryzlov ordered the Duma’s committee on financial marketrs to present a report on premiums and bonuses received by top-managers of Russian banks no later that 16th of September. Bonuses that go to managers of credit institutions with the State’s participation are not the exception.