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Finance Magazine - January 2001 Issue

 
Basel Capital Accord proposals to impact Irish banks
Large amounts of capital could be freed up within the EU banking system if Basel Accord proposals for a three tiered regulatory system are adopted in 2004.
Moderate optimism in finance, despite US slowdown
The financial services industry faces an ‚€ėinteresting‚€ô year, as uncertainty in the international economy centres on the United States itself. Irish concerns are particularly acute, given the close connection between the Irish economy and US high tech industry.
Lack of savings making Ireland vulnerable to recession
IAIM calls for Government to introduce medium term savings incentives as the household savings ratio drops to below seven per cent.
Pension investors face challenge
An IAPF seminar held in Dublin this month warned that investors are likely to face turbulent equity markets in the early part of the year but added that the powerful effects of lower interest rates are likely to prompt renewed growth in economies and profits as the year progresses.
Pension investors face challenge
An IAPF seminar held in Dublin this month warned that investors are likely to face turbulent equity markets in the early part of the year but added that the powerful effects of lower interest rates are likely to prompt renewed growth in economies and profits as the year progresses.
O‚€ôConnor appointed Advisor
Oliver O‚€ôConnor, contributing editor of Finance, has been appointed as a special advisor to the T√°naiste Mary Harney.
NCB launch web training for investors
Would-be investors can now log on to the NCB stockbrokers‚€ô website and access the company‚€ôs online training guide for retail investors.
Caledonian chases 5 per cent of insurance market
The Royal Liver Group launched a new life assurance business in Ireland, Caledonian Life, which aims to take 5 per cent of the brokerage insurance market over the next three years.
Smurfit ranked fifth
The Smurfit School of Business was ranked 5th globally for return on investment and 14th in Europe among European Business Schools by a Financial Times survey.
Pfandbrief moves
A memo concerning the proposals for ‚€ėPfandbrief‚€ô type legislation is currently with all the Government departments, the last stage before it goes to the Government.
Roseingrave to head ABN AMRO
Dubliner Gerry Roseingrave has been appointed as head of global financial markets and country representative for ABN AMRO Ireland.
62 per cent of Irish cfos back international accounting standards
Over 62 per cent of Irish chief financial officers support the introduction of International Accounting Standards for listed companies according to a recent report issued by PricewaterhouseCoopers. This compares with 79 per cent of European cfos.
Commission launches consultation on regulation of conglomerates
The European Commission is assessing how best to regulate financial conglomerates, those single financial entities that offer a range of financial services such as banking, insurance and securities.
AIB and BoI join Identrus
Both Allied Irish Bank and Bank of Ireland have joined Identrus an international organisation formed to create common global standards for Digital Certification in e-commerce.
ISE appoints Somers as Director of Listings
The Irish Stock Exchange has appointed Deirdre Somers as Director of Listings with responsibility for all of the Exchange‚€ôs Listing business. This follows the departure of Gerardine Jones, previously Director of Listings, who takes up her new role as chief operating officer with Dolmen Butler Briscoe stockbrokers this month.
Anglo Irish Bank launches life assurance company
Anglo Irish bank has launched a new financial services business Anglo Irish Assurance Company, following approval in principal from the Department of Enterprise, Trade and Employment.
Davy and Goodbodys win again
Davy and Goodbodys Stockbrokers were outright winners in the Irish category of the ‚€ė2001 Reuters Survey of European Larger Companies‚€ô carried out by Tempest Consultants
DG of Internal Market to speak in Dublin
John Mogg the Director General (DG) of the Internal Market Directorate (formally DGXV) of the European Commission will address delegates at the upcoming Finance Dublin Conference in March. The Internal Market has very important implications for the IFSC as it strives to create a single European market for financial services including banking, insurance, pension funds, securities and to harmonise company law, accounting and auditing rules across Europe.
Adding value key to Ireland‚€ôs e-finance future
Ireland must add value in order to continue as a favourable location for financial services e-commerce projects according to a report issued recently by the Government.
Still a Bush in the White House
In January 1991 the economic landscape in Ireland looked substantially different. The world was recovering form the Gulf War, the price of oil was dominating and stockbrokers were awaiting an upswing. Looking back through the early issues of a decade ago however there are similarities with today. The highlights below illustrate the era gone by.
Call for ARF initiative in Finance Bill
Surprise abounds amongst the pensions and investment sector following the Budget announcement, where no provisions for extending ARF/AMRF were included, Des Mcgarry writes.
DIY capital: risk coverage
The Basel Accord proposals announced this month are going to shake up the international banking system as never before - but as with every move forward there will be winners and losers in this game. There is a danger however that domestic Irish banks will be poorly placed to benefit from the advantages of being in the top tier or ‚€ėsuperior‚€ô level of supervision, where the freedom to allocate capital: risk ratios are more dependent on the internal bank‚€ôs credit management system than on external forces.
Closing the stable door
At 76 years of age, has Alan Greenspan peaked? With the appearance of a number of biographies (the latest written by Bob Woodward, of ‚€ėAll the President‚€ôs Men‚€ô fame) some are speculating that finally, this most careful of market watchers has finally run out of steam, along with the decade-long boom, with which he will be associated in history
Corporates favour bank funding to corporate bonds
John Bowe focuses on the major developments in the corporate banking sector in the past year and finds that while funding alternatives available in Ireland have been greatly enhanced in the euro environment, Irish corporates still favour bank funding to the corporate bond market.
Trustees look at specialist pension management
Pension fund trustees are re-examining their investments and considering new approaches. Brid Horan looks at the evolving trends within the industry.
Call for ‚€ėknow your customer‚€ô information sharing between banks
Liam Crossan takes a look at the current compliance issues for credit institutions.
All eyes on the US, which holds the key
Currencies outlook
All eyes on the US, which holds the key
Currencies outlook
All eyes on the US, which holds the key
Currencies outlook
All eyes on the US, which holds the key
Currencies outlook
All eyes on the US, which holds the key
Currencies outlook
All eyes on the US, which holds the key
Interest rates and bonds
All eyes on the US, which holds the key
Interest rates and bonds
All eyes on the US, which holds the key
Interest rates and bonds
Who‚€ôs who in Finance: Sean Blake, Treasury Director, Barclays Bank.
 
Who‚€ôs who in Finance: Pat Landy, Managing Director, Merrion Corporate Finance Ltd
 
Wild geese
Carol Collins Group Financial Controller, CRH Europe - Products and Distribution, based in the Netherlands.
Who‚€ôs who in Finance: Billy Finn, Managing Director, AIB Finance & Leasing
 
Who‚€ôs who in Finance: Emmett Dunleavy, Senior Investment Strategist, Hibernian Investment Managers
 
The pattern of unpredictability
Des Ryan, client relationship manager with actuarial firm Mercer tackles of day of unpredictability.
Wrong tax shot
Probate tax has a low rate, relatively simple rules, and a wide base. Gift and inheritance taxes have relatively high rates, complex rules, and operate like Russian roulette. The Minister abolished probate tax and kept the other two.
The other Budget
The Minister‚€ôs Budget statement tends to be so much of the goods news as can be absorbed in time for print deadlines. It can be a poor guide to what ultimately emerges as a Finance Act.
Oh so close!
The Minister came close to delivering a good Budget. Why did he ruin it with silly PRSI proposals?
Investment matters
It is not clear how level the playing field will be between onshore and offshore investment products, as a result of the Minister‚€ôs changes. Nothing significant emerged in the budget in the shape of an encouragement to salt away for a rainy day.
Listing of Mutual Funds on the Irish Stock Exchange
A walk through the basic procedures for listing mutual funds on the Irish Stock Exchange.
Hedge funds: revealing the lamp under a bushel
The hedge fund, abused and lauded in equal measure, has become an essential part of the range of investment vehicles available to institutional and sophisticated investors. The Bank for International Settlements in its most recent Quarterly Review published a comprehensive article by Kostas Tsatsaronis on this particular piggy bank, tracing its origin to 1949, interesting given Ireland‚€ôs increasing strength in hedge fund management.
How to manage the achievers in your business
Eamon Kelly looks at the issues involved in managing the Achiever type of personality and asks whether they are the life-blood of financial services or the main cause of internal haemorrhaging for companies.
Time to consider other approaches to financial services education
The DIRT enquiry on unethical behaviour in the financial services industry. Phenomenal growth in share prices of technology-based companies and privatisation of state organisations may appear to be unrelated issues. Yet they suggest to me that this may be a good time to reflect on the education appropriate for those working in the Irish financial services industry.
Last chance to apply for qualifying investor status, as rules take effect
As the new rules for qualifying investor status take effect this month, Gary O‚€ôMahony looks at the options for those companies who haven‚€ôt dealt with these regulations yet.
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