Economy and Business Info
Posts Tagged ‘economies’
How Kustodian cooperation with Depository Trust and Clearing
Central Securities Depository, Inc. (DCV) of Chile and the Depository Trust and Clearing (DTCC, for its acronym in English) U.S. today announced they have signed an agreement that recognizes and strengthens their relationship and will provide the foundation for future collaboration.
“We are delighted to have this opportunity to bring a new level the relationship with the central securities depository of Chile, and to working with our Chilean colleagues in addressing the needs of their markets and customer support”
The objective of this collaborative venture, which will leverage technology and expertise of both organizations is to expand offerings and capabilities of DCV and DTCC. This will allow both organizations to leverage local market knowledge and develop broader offerings in Chile and throughout Latin America, at the same time reducing risks and lowering costs.
“Chile has one of the strongest economies in Latin America and represents a strong financial market and growth in the Americas,” said William B. Amity, president and chief operating officer of DTCC. “We are delighted to have this opportunity to bring a new level the relationship with the central securities depository of Chile, and to working with our Chilean colleagues in addressing the needs of their markets and support their customers.”
“We believe that this working relationship will give DCV some strategic advantages in fulfilling our mission to make the Chilean capital markets more efficient and attractive to capital market growth,” said Fernando Yates, Director General of DCV. “We expect to benefit from the experience, technology, scale and global reach of DTCC to assist in the growth of services for capital markets in Latin America.”
Previous discussions identified some possible areas of collaboration related to operational risk and business continuity. For example, CSD currently has data centers in different parts of Santiago, the capital and largest city in Chile. However, communications with backup sites located 500 kilometers from the city of Conception were destroyed and were deactivated during the earthquake of February 2010. DTCC DCV and believe there may be an opportunity to collaborate on issues of business community, leveraging of DTCC experience after 9 / 11 is the creation of redundant backup data centers.
The agreement announced today was developed after an invitation in December 2009 by the CSD to DTCC to make a capital investment of 10% and unify DCV Directory. By making this investment and join the Board of DCV, DTCC has demonstrated its commitment to the region and their high expectations for future cooperative efforts with DCV
How the U.S. economy due to war
When you look at the accounts of the highly indebted rich economies can be seen that all are in similar situations, with public debt at 100% of GDP, more or less, fiscal deficits above 10% of GDP, and low international reserves. Should be treated for the purposes of the case and was treated in their day to Honduras, Bolivia, Nicaragua, and many African countries. There is not much difference beyond which hold power, who issues the dollar, from where they are made against speculative attacks and what, is speculation.
The hard faced enfilading guns against the Mediterranean countries, while Britain, Ireland or to say, and the United States have worse figures, reflects the power of rating agencies on the international market. The bone of this market is in New York and is 10 banks that reflect 60% of U.S. GDP. The rating which incidentally are in New York and London and there are three relevant, it fell to Greece of AAA + to BB and investment banks attacked the euro. Attacked to Greece but not the euro. In Spain from AAA to AA and better yet, started the rumors about bankruptcy Spanish. The target will remain the euro and now comes with a long speech from the United States about the futility of the currency basket, which is the euro.
In Greece had to shake hands several weeks ago but the history between Germany and Greece did not help and that the formula from a bond issue to finance the European Monetary Fund to Greece crashed into the European Central Bank restrictions can not financing to member governments, financial architecture was designed for spinning any European beyond the ECB. It is a European defeat having called the IMF.
The IMF did what he does do and after 48% pay cut, the masses poured into the streets. The Greek people is the first to pay the account of the euro crisis generated by investment banks and rating agencies in a context where no government of the G7 with moral authority to throw the first stone in fiscal terms.