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Viernes 28/01/11 GDP (PBI)
Re: Viernes 28/01/11 GDP (PBI)
por admin » Vie Ene 28, 2011 8:42 am
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Re: Viernes 28/01/11 GDP (PBI)
por admin » Vie Ene 28, 2011 9:01 am
-3
Europa mixta
Euro debajo de 1.37
Oil up 86.16
Au down 1,313
Europa mixta
Euro debajo de 1.37
Oil up 86.16
Au down 1,313
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Re: Viernes 28/01/11 GDP (PBI)
por admin » Vie Ene 28, 2011 9:05 am
Mas medidas de ajuste en China
China dice que subira los requerimientos de reserva de capital de los bancos hasta el 14% cuando fuera necesario, es un aumento del 2.5%. Quieren reducir los credito.
China Said to Plan to Raise Bank Capital Ratios Whenever Credit Excessive
By Bloomberg News - Jan 28, 2011 4:21 AM ET
inShare.2More
Business ExchangeBuzz up!DiggPrint Email . A pedestrian walks past a branch of the Industrial and Commercial Bank of China Ltd. in Beijing. Photographer: Nelson Ching/Bloomberg
China may order its biggest lenders, including Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp., to raise capital ratios to as high as 14 percent when credit growth is judged excessive, said a person familiar with the matter.
Newly proposed rules would require increasing capital adequacy buffers by as much as 2.5 percentage points when the banking regulator determines loan growth to be too fast, said the person, declining to be identified as the plan isn’t public. In normal conditions, lenders deemed systemically important will need to have a minimum 11.5 percent ratio, unchanged from the current requirement for China’s biggest banks, said the person.
China is tightening oversight of banks, limiting mortgages and raising interest rates to prevent a record $2.7 trillion of credit extended in the past two years from inflating asset bubbles that may saddle lenders with bad loans. Some banks may need to raise additional capital to meet the new requirements, the person said.
“This shows further tightening as the regulator worries about excessive lending,” Xu Guangfu, an analyst at Xiangcai Securities Co. in Shanghai, said by telephone. “The banking sector’s valuation is already depressed and this may drag it lower. The market will be more concerned about those banks that were lending aggressively.”
No Decision
An official with the regulator’s news department, who declined to be identified because of the agency’s rules, said a decision hasn’t yet been made on the ratios and that the process is still ongoing.
Under the China Banking Regulatory Commission’s proposed rules, systemically important banks will have to comply with the capital ratio requirements by the end of 2013, three years earlier than other lenders, the person said. China’s five biggest banks, which also include the Agricultural Bank of China Ltd., Bank of China Ltd. and Bank of Communications Co., are currently deemed systemically important, the person said.
All banks would be required to have a capital adequacy ratio of at least 8 percent, with an additional 2.5 percentage points as a buffer during normal credit conditions, the person said. Systemically important banks would need to maintain an additional percentage point, the person said.
Excessive Credit
During periods when loan growth is too fast, the regulator will require all lenders to increase their ratios by as much as 2.5 percentage points, the person said. It isn’t immediately clear what standards would be used for determining when credit expansion is excessive, the person said.
Regulators are taking advantage of record bank profits and double-digit economic growth to set stricter rules at a faster pace than agreements announced in July by the Basel Committee on Banking Supervision. China’s economy, set to surpass Japan’s to become the world’s second biggest, grew 10.3 percent in 2010, the fastest pace in three years, according to government data.
An earlier version of the rules would have required China’s biggest banks to have capital adequacy ratios of 11 percent to 15 percent by the end of 2012, a person with knowledge of that proposal said in September. That compares with ratios from 11.5 percent to 14 percent stipulated by the latest proposal.
The previous version also called for Tier 1 capital of 8 percent. The new proposal’s requirement for Tier 1 capital, which includes common equity, retained profits and perpetual preferred stock, is 6 percent, same as the Basel rules, according to the person.
China vs. Basel
China would, under the new rules, require core Tier 1 capital, which excludes perpetual preferred stock, of at least 5 percent by 2013 for the nation’s biggest banks, the person said. The Basel rules require banks to have 4.5 percent of such capital within five years, and to add an additional 2.5 percent buffer by Jan. 1, 2019.
Domestic lenders had an average capital adequacy ratio of 11.6 percent as of Sept. 30, with their Tier 1 ratio standing at 9.5 percent, according to the CBRC.
The new rules would also require banks to have a 4 percent so-called “leverage ratio,” which measures Tier 1 capital as a percentage of total assets that are both on and off the lenders’ balance sheets, the person said.
Systemically important banks will also need to have bad- loan provisions that are no less than 2.5 percent of total outstanding credit by the end of 2013, or 150 percent of non- performing debt, whichever indicator is higher, the person said. Other lenders with relatively strong profitability should meet the requirement by 2016, the person said.
December Provisions
Chinese banks’ provisions were 218.3 percent of their outstanding bad loans as of Dec. 31, the regulator said Jan. 24.
Initial assessments show that the new rules won’t have any major impact on bank lending or the nation’s economic growth in the near term because most lenders are currently capable of meeting the requirements, the person said.
At the same time, factors including bad loans and China’s move to more market-based interest rates may lead to the rules having a greater impact than what’s expected by the regulator, the person said. As a result, the government will seek to improve conditions for fund raising by banks and provide incentives to set aside adequate loan provisions, according to the person.
China Minsheng Banking Corp., the nation’s first non-state lender, announced plans this month to raise about 21.5 billion yuan ($3.3 billion) in a share sale in Shanghai to plug a capital shortfall. Bigger rivals have already tapped investors, led by $56 billion in equity sales by the nation’s five largest state-owned banks in Shanghai and Hong Kong last year, as the regulator prepared to tighten capital rules.
China dice que subira los requerimientos de reserva de capital de los bancos hasta el 14% cuando fuera necesario, es un aumento del 2.5%. Quieren reducir los credito.
China Said to Plan to Raise Bank Capital Ratios Whenever Credit Excessive
By Bloomberg News - Jan 28, 2011 4:21 AM ET
inShare.2More
Business ExchangeBuzz up!DiggPrint Email . A pedestrian walks past a branch of the Industrial and Commercial Bank of China Ltd. in Beijing. Photographer: Nelson Ching/Bloomberg
China may order its biggest lenders, including Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp., to raise capital ratios to as high as 14 percent when credit growth is judged excessive, said a person familiar with the matter.
Newly proposed rules would require increasing capital adequacy buffers by as much as 2.5 percentage points when the banking regulator determines loan growth to be too fast, said the person, declining to be identified as the plan isn’t public. In normal conditions, lenders deemed systemically important will need to have a minimum 11.5 percent ratio, unchanged from the current requirement for China’s biggest banks, said the person.
China is tightening oversight of banks, limiting mortgages and raising interest rates to prevent a record $2.7 trillion of credit extended in the past two years from inflating asset bubbles that may saddle lenders with bad loans. Some banks may need to raise additional capital to meet the new requirements, the person said.
“This shows further tightening as the regulator worries about excessive lending,” Xu Guangfu, an analyst at Xiangcai Securities Co. in Shanghai, said by telephone. “The banking sector’s valuation is already depressed and this may drag it lower. The market will be more concerned about those banks that were lending aggressively.”
No Decision
An official with the regulator’s news department, who declined to be identified because of the agency’s rules, said a decision hasn’t yet been made on the ratios and that the process is still ongoing.
Under the China Banking Regulatory Commission’s proposed rules, systemically important banks will have to comply with the capital ratio requirements by the end of 2013, three years earlier than other lenders, the person said. China’s five biggest banks, which also include the Agricultural Bank of China Ltd., Bank of China Ltd. and Bank of Communications Co., are currently deemed systemically important, the person said.
All banks would be required to have a capital adequacy ratio of at least 8 percent, with an additional 2.5 percentage points as a buffer during normal credit conditions, the person said. Systemically important banks would need to maintain an additional percentage point, the person said.
Excessive Credit
During periods when loan growth is too fast, the regulator will require all lenders to increase their ratios by as much as 2.5 percentage points, the person said. It isn’t immediately clear what standards would be used for determining when credit expansion is excessive, the person said.
Regulators are taking advantage of record bank profits and double-digit economic growth to set stricter rules at a faster pace than agreements announced in July by the Basel Committee on Banking Supervision. China’s economy, set to surpass Japan’s to become the world’s second biggest, grew 10.3 percent in 2010, the fastest pace in three years, according to government data.
An earlier version of the rules would have required China’s biggest banks to have capital adequacy ratios of 11 percent to 15 percent by the end of 2012, a person with knowledge of that proposal said in September. That compares with ratios from 11.5 percent to 14 percent stipulated by the latest proposal.
The previous version also called for Tier 1 capital of 8 percent. The new proposal’s requirement for Tier 1 capital, which includes common equity, retained profits and perpetual preferred stock, is 6 percent, same as the Basel rules, according to the person.
China vs. Basel
China would, under the new rules, require core Tier 1 capital, which excludes perpetual preferred stock, of at least 5 percent by 2013 for the nation’s biggest banks, the person said. The Basel rules require banks to have 4.5 percent of such capital within five years, and to add an additional 2.5 percent buffer by Jan. 1, 2019.
Domestic lenders had an average capital adequacy ratio of 11.6 percent as of Sept. 30, with their Tier 1 ratio standing at 9.5 percent, according to the CBRC.
The new rules would also require banks to have a 4 percent so-called “leverage ratio,” which measures Tier 1 capital as a percentage of total assets that are both on and off the lenders’ balance sheets, the person said.
Systemically important banks will also need to have bad- loan provisions that are no less than 2.5 percent of total outstanding credit by the end of 2013, or 150 percent of non- performing debt, whichever indicator is higher, the person said. Other lenders with relatively strong profitability should meet the requirement by 2016, the person said.
December Provisions
Chinese banks’ provisions were 218.3 percent of their outstanding bad loans as of Dec. 31, the regulator said Jan. 24.
Initial assessments show that the new rules won’t have any major impact on bank lending or the nation’s economic growth in the near term because most lenders are currently capable of meeting the requirements, the person said.
At the same time, factors including bad loans and China’s move to more market-based interest rates may lead to the rules having a greater impact than what’s expected by the regulator, the person said. As a result, the government will seek to improve conditions for fund raising by banks and provide incentives to set aside adequate loan provisions, according to the person.
China Minsheng Banking Corp., the nation’s first non-state lender, announced plans this month to raise about 21.5 billion yuan ($3.3 billion) in a share sale in Shanghai to plug a capital shortfall. Bigger rivals have already tapped investors, led by $56 billion in equity sales by the nation’s five largest state-owned banks in Shanghai and Hong Kong last year, as the regulator prepared to tighten capital rules.
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Re: Viernes 28/01/11 GDP (PBI)
por admin » Vie Ene 28, 2011 9:11 am
Mas medidas de ajuste en China
China aprobo implementar impuestos a las propiedades en algunos lugares en Shanghai y Chongqin para controlar la especulacion en las propiedades y las burbujas de las casas.
China Approves Property Tax Trials to Curb Prices
By Bloomberg News - Jan 28, 2011 4:20 AM ET
Play VideoJan. 28 (Bloomberg) -- China approved property tax trials on some homes in Shanghai and Chongqing, adding to measures announced earlier this week in its campaign to curb real-estate speculation and asset bubbles. Both cities will begin trials for the levy today, following the government’s Jan. 26 announcement it will raise the minimum down-payment for second-home purchases and ask local authorities to set price targets for new properties. Property prices rose for a 19th month in December, even after the government suspended mortgages for third-home purchases and restricted loans to developers. Stephen Engle reports from Chongqing for Bloomberg Television. (Source: Bloomberg)
China approved property tax trials on some homes in Shanghai and Chongqing, adding to measures announced earlier this week in its campaign to curb real-estate speculation and asset bubbles.
Both cities will begin trials for the levy today, following the government’s Jan. 26 announcement it will raise the minimum down-payment for second-home purchases and ask local authorities to set price targets for new properties.
Premier Wen Jiabao on Jan. 18 said the government will “resolutely” implement controls on the real-estate market in the first quarter, including curbing speculation and increasing supplies of affordable housing. Property prices rose for a 19th month in December, even after the government suspended mortgages for third-home purchases and restricted loans to developers.
“Given the limited scope and moderate tax rate, we expect this new policy to have limited incremental impact on transaction volume and price,” Goldman Sachs Group Inc. analysts led by Yi Wang wrote in a report today. The latest measure suggests “the policy uncertainties are now substantially lowered,” they said.
An index of Chinese property stocks lost 0.1 percent at the close, compared with the 0.1 percent gain in the benchmark Shanghai Composite Index. The real estate gauge was the worst- performer among the key index’s five industry groups last year, declining 28 percent. China Vanke Co., the nation’s biggest developer by market value, dropped 0.5 percent in Shenzhen, and Poly Real Estate Group Co. fell 1.2 percent.
Tax Rates
The Shanghai rate is temporarily fixed at 0.6 percent for all taxable residential properties, and is reduced to 0.4 percent for housing bought at prices less than twice the average of newly built “commercial homes” last year, the government said. Average sale prices will be released by the local statistics bureau annually.
In Chongqing, only homes bought at more than twice the average price will be taxed, with units purchased at more than four times the average taxed at 1.2 percent, Mayor Huang Qifan said in a live webcast on the state-run People.com site.
Home prices in Chongqing, in the country’s west, surged 29 percent in 2010 and those in Shanghai jumped 26.1 percent, according to year-end data from SouFun Holdings Ltd., the country’s biggest real estate website owner. Nationwide, the 6.4 percent gain in housing prices in December was the smallest in 13 months.
Low-Income Homes
Property tax revenue will be used to build more low-income housing, the Finance Ministry said earlier in a separate statement. Levying property tax on individual home buyers can guide them to make “rational” decisions, the statement said.
The government last year raised down payments for second homes and restricted loans to developers, and some cities including Beijing limited the number of homes local residents can buy. In October, the central bank increased interest rates for the first time in three years and raised borrowing costs for a second time Dec. 25.
The sooner-than-expected implementation of the property tax trials will further weaken market sentiment and reduce transaction volume, Credit Suisse Group AG analysts led by Jinsong Du wrote in a report today. Housing ministry officials told the company more cities may implement the tax “soon,” without giving names, according to the report.
“While many expect the property tax to signal the removal of the policy overhang, we disagree -- officials told us there should be more tightening measures, especially on credit policies,” the analysts said.
Higher Down-Payments
The down-payment ratio for second homes will rise to 60 percent from 50 percent, the State Council said this week. The Cabinet asked local governments to boost land supply and said they should set price targets for newly built houses based on regional economic growth and disposable incomes.
China reported the most real estate investment in the world for a second straight year in 2010 as development-site purchases helped lift global commercial property sales by 43 percent, New York-based Real Capital Analytics Inc. said on Jan. 26.
Property developers tapped 79.6 billion yuan ($12 billion) of foreign capital last year, a surge of 66 percent from 2009, according to the National Bureau of Statistics.
Rising real estate prices are the “biggest danger” to the Chinese economy, Li Daokui, an adviser to China’s central bank, said in an interview with Bloomberg News in Davos, Switzerland on Jan. 26.
To contact the Bloomberg News staff for this story: Zhang Dingmin in Beijing at Dzhang14@bloomberg.net
China aprobo implementar impuestos a las propiedades en algunos lugares en Shanghai y Chongqin para controlar la especulacion en las propiedades y las burbujas de las casas.
China Approves Property Tax Trials to Curb Prices
By Bloomberg News - Jan 28, 2011 4:20 AM ET
Play VideoJan. 28 (Bloomberg) -- China approved property tax trials on some homes in Shanghai and Chongqing, adding to measures announced earlier this week in its campaign to curb real-estate speculation and asset bubbles. Both cities will begin trials for the levy today, following the government’s Jan. 26 announcement it will raise the minimum down-payment for second-home purchases and ask local authorities to set price targets for new properties. Property prices rose for a 19th month in December, even after the government suspended mortgages for third-home purchases and restricted loans to developers. Stephen Engle reports from Chongqing for Bloomberg Television. (Source: Bloomberg)
China approved property tax trials on some homes in Shanghai and Chongqing, adding to measures announced earlier this week in its campaign to curb real-estate speculation and asset bubbles.
Both cities will begin trials for the levy today, following the government’s Jan. 26 announcement it will raise the minimum down-payment for second-home purchases and ask local authorities to set price targets for new properties.
Premier Wen Jiabao on Jan. 18 said the government will “resolutely” implement controls on the real-estate market in the first quarter, including curbing speculation and increasing supplies of affordable housing. Property prices rose for a 19th month in December, even after the government suspended mortgages for third-home purchases and restricted loans to developers.
“Given the limited scope and moderate tax rate, we expect this new policy to have limited incremental impact on transaction volume and price,” Goldman Sachs Group Inc. analysts led by Yi Wang wrote in a report today. The latest measure suggests “the policy uncertainties are now substantially lowered,” they said.
An index of Chinese property stocks lost 0.1 percent at the close, compared with the 0.1 percent gain in the benchmark Shanghai Composite Index. The real estate gauge was the worst- performer among the key index’s five industry groups last year, declining 28 percent. China Vanke Co., the nation’s biggest developer by market value, dropped 0.5 percent in Shenzhen, and Poly Real Estate Group Co. fell 1.2 percent.
Tax Rates
The Shanghai rate is temporarily fixed at 0.6 percent for all taxable residential properties, and is reduced to 0.4 percent for housing bought at prices less than twice the average of newly built “commercial homes” last year, the government said. Average sale prices will be released by the local statistics bureau annually.
In Chongqing, only homes bought at more than twice the average price will be taxed, with units purchased at more than four times the average taxed at 1.2 percent, Mayor Huang Qifan said in a live webcast on the state-run People.com site.
Home prices in Chongqing, in the country’s west, surged 29 percent in 2010 and those in Shanghai jumped 26.1 percent, according to year-end data from SouFun Holdings Ltd., the country’s biggest real estate website owner. Nationwide, the 6.4 percent gain in housing prices in December was the smallest in 13 months.
Low-Income Homes
Property tax revenue will be used to build more low-income housing, the Finance Ministry said earlier in a separate statement. Levying property tax on individual home buyers can guide them to make “rational” decisions, the statement said.
The government last year raised down payments for second homes and restricted loans to developers, and some cities including Beijing limited the number of homes local residents can buy. In October, the central bank increased interest rates for the first time in three years and raised borrowing costs for a second time Dec. 25.
The sooner-than-expected implementation of the property tax trials will further weaken market sentiment and reduce transaction volume, Credit Suisse Group AG analysts led by Jinsong Du wrote in a report today. Housing ministry officials told the company more cities may implement the tax “soon,” without giving names, according to the report.
“While many expect the property tax to signal the removal of the policy overhang, we disagree -- officials told us there should be more tightening measures, especially on credit policies,” the analysts said.
Higher Down-Payments
The down-payment ratio for second homes will rise to 60 percent from 50 percent, the State Council said this week. The Cabinet asked local governments to boost land supply and said they should set price targets for newly built houses based on regional economic growth and disposable incomes.
China reported the most real estate investment in the world for a second straight year in 2010 as development-site purchases helped lift global commercial property sales by 43 percent, New York-based Real Capital Analytics Inc. said on Jan. 26.
Property developers tapped 79.6 billion yuan ($12 billion) of foreign capital last year, a surge of 66 percent from 2009, according to the National Bureau of Statistics.
Rising real estate prices are the “biggest danger” to the Chinese economy, Li Daokui, an adviser to China’s central bank, said in an interview with Bloomberg News in Davos, Switzerland on Jan. 26.
To contact the Bloomberg News staff for this story: Zhang Dingmin in Beijing at Dzhang14@bloomberg.net
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Re: Viernes 28/01/11 GDP (PBI)
por trader » Vie Ene 28, 2011 9:20 am
Alguien sabe a que se debe la subida de BPZ +12.5% ?
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Re: Viernes 28/01/11 GDP (PBI)
por admin » Vie Ene 28, 2011 9:27 am
+1
USO +0.56%
ERX -0.07%
FAS +0.49%
USO +0.56%
ERX -0.07%
FAS +0.49%
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Re: Viernes 28/01/11 GDP (PBI)
por admin » Vie Ene 28, 2011 9:31 am
RVBD +7.13% (y yo la vendi ayer)
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Re: Viernes 28/01/11 GDP (PBI)
por admin » Vie Ene 28, 2011 9:41 am
OIl up 86.81
Yields down 3.41%
+7.53
Eurodown 1.37
Yields down 3.41%
+7.53
Eurodown 1.37
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