proposals by Obama to limit the size of financial institutions and their commercial operations have caused a sharp decline in shares of the largest banks in the U.S. and contributed to the growth of negative sentiment among investors.
By reducing the Dow Jones index up 2% on Thursday, shares of JPMorgan Chase fell 6,6%, Bank of America - on 6,2%, Goldman Sachs - by 4,1%.
According to analysts, offers Barack Obama, if they are implemented, will change the business model is the largest U.S. banks and may lead to a decrease in their profits.
Shares of developing countries, which adversely affected the expectations early tightening of monetary policy in China, fell on Thursday to 1.9%, and the index of the Brazilian Bovespa - on 2,8%.
decrease in prices for raw materials, increased the dollar fell profitability gosoobligatsy USA.
For two days U.S. stocks, according to the index, Dow Jones, lost 3.1%, the worst decline in this indicator of the market in June, reported Bloomberg.
While the details of the proposals
Barack Obama is not clear. Advisers to the president say that we are not talking about the fragmentation of existing banks, as well as the repetition of the law 30-ies on the division of retail and investment banking business, writes The Wall Street Journal.
At the same time, the President”s proposals reflect a general hostility to the largest banks and may mean the introduction of a number of restrictions on their activities.
“Despite the fact that the financial system is now much stronger than a year ago, it still operates on the basis of those very rules that have led her to the brink of catastrophe”, - said in a statement Barack Obama, released on Thursday by the presidential administration.
measures proposed by the President of the United States, include, inter alia, the imposition of restrictions on the possibility of investing finkompaniyami, as well as restrictions on their size. In particular, if these proposals will be approved by Congress, banks that have investments of citizens will not be able to own a hedge fund and private investment, and their own operations in the market will be limited.
B. Obama said that never again the largest financial institutions, the collapse of which the state can not afford not to hold the taxpayers hostage.
President urged to limit the size of banks. In the United States already has a rule according to which none of the credit institutions can not have more than 10% of all deposits in the country.
In spirit, these ideas are in line with measures taken since the Great Depression, when the U.S. was legally divided by your own bank and investment business. This division operated until 1999.
External background before the opening of Russian sites is negative: America closed lower, Asia traded mostly down
SUEK expects to attract about $ 1 billion in its IPO
The only positive news yesterday there were reports XEROX and Goldman Sachs
The external background is negative: America closed lower, Asia traded mostly down
Yesterday, the euro /dollar has risen dramatically in the U.S. session, more than 100 points and reached a mark 1.4140
The Prime Minister demanded that ArcelorMittal-Krivoy Rog “radical increase in salaries
For Sale Ukrainian TV channels has increased the cost of CME
Russia puts the reserves from U.S. dollars to Canadian
Ukraine may independently expend resources of IMF
Banking initiatives Obama brought down shares of financial institutions
proposals by Obama to limit the size of financial institutions and their commercial operations have caused a sharp decline in shares of the largest banks in the U.S. and contributed to the growth of negative sentiment among investors.
By reducing the Dow Jones index up 2% on Thursday, shares of JPMorgan Chase fell 6,6%, Bank of America - on 6,2%, Goldman Sachs - by 4,1%.
According to analysts, offers Barack Obama, if they are implemented, will change the business model is the largest U.S. banks and may lead to a decrease in their profits.
Shares of developing countries, which adversely affected the expectations early tightening of monetary policy in China, fell on Thursday to 1.9%, and the index of the Brazilian Bovespa - on 2,8%.
decrease in prices for raw materials, increased the dollar fell profitability gosoobligatsy USA.
For two days U.S. stocks, according to the index, Dow Jones, lost 3.1%, the worst decline in this indicator of the market in June, reported Bloomberg.
While the details of the proposals
Barack Obama is not clear. Advisers to the president say that we are not talking about the fragmentation of existing banks, as well as the repetition of the law 30-ies on the division of retail and investment banking business, writes The Wall Street Journal.
At the same time, the President”s proposals reflect a general hostility to the largest banks and may mean the introduction of a number of restrictions on their activities.
“Despite the fact that the financial system is now much stronger than a year ago, it still operates on the basis of those very rules that have led her to the brink of catastrophe”, - said in a statement Barack Obama, released on Thursday by the presidential administration.
measures proposed by the President of the United States, include, inter alia, the imposition of restrictions on the possibility of investing finkompaniyami, as well as restrictions on their size. In particular, if these proposals will be approved by Congress, banks that have investments of citizens will not be able to own a hedge fund and private investment, and their own operations in the market will be limited.
B. Obama said that never again the largest financial institutions, the collapse of which the state can not afford not to hold the taxpayers hostage.
President urged to limit the size of banks. In the United States already has a rule according to which none of the credit institutions can not have more than 10% of all deposits in the country.
In spirit, these ideas are in line with measures taken since the Great Depression, when the U.S. was legally divided by your own bank and investment business. This division operated until 1999.
External background before the opening of Russian sites is negative: America closed lower, Asia traded mostly down
SUEK expects to attract about $ 1 billion in its IPO
The only positive news yesterday there were reports XEROX and Goldman Sachs
The external background is negative: America closed lower, Asia traded mostly down
Yesterday, the euro /dollar has risen dramatically in the U.S. session, more than 100 points and reached a mark 1.4140
The Prime Minister demanded that ArcelorMittal-Krivoy Rog “radical increase in salaries
For Sale Ukrainian TV channels has increased the cost of CME
Russia puts the reserves from U.S. dollars to Canadian
Ukraine may independently expend resources of IMF