Monthly Archives: January 2011

Buba: Banks expect for 2011 significantly increasing loan volume

Imgdb_skyline_ffm_frei FRANKFURT (Dow Jones) – German banks are based on findings of the Federal Bank optimistic despite stricter regulatory requirements with regard to their lending. (Photo: Commerzbank)

As the Federal Bank on Tuesday announced the results of a survey among selected banks, "the survey participants expect in 2011 a significantly increasing loan volume." It is part of the expected strong growth in new business from the increased utilization will result in already existing lines of credit. "-Damping effects are however still of major companies in particular repayments. Adjustments other hand, play almost no role," said the Bundesbank.
The expected increase in credit growth, banks lead therefore attributed to many factors. The majority are called above all their enhanced risk assessment in the course of economic recovery and a rising credit demand by enterprises for investment and export financing. "The bank managers plan to leave their rejection rates unchanged despite the increase in demand," the Bundesbank.
Despite the credit growth and the expected costs arising from EMU sovereign debt crisis, the interviewees of the Federal Bank increased capital ratios predicted for 2011. This they want to achieve mainly through retained earnings, raising new equity and the reduction of other risk-weighted assets. "Basel III are to want to react the Institute in 2011 with a particular increase in its regulatory capital. Adjustments in the carrying their credit however, reportedly planned for 2011, hardly", said the Bundesbank.

Website: www.bundesbank.de
DJG / res / mle / dok

Buba: Banks expect for 2011 significantly increasing loan volume

Imgdb_skyline_ffm_frei FRANKFURT (Dow Jones) – German banks are based on findings of the Federal Bank optimistic despite stricter regulatory requirements with regard to their lending. (Photo: Commerzbank)

As the Federal Bank on Tuesday announced the results of a survey among selected banks, "the survey participants expect in 2011 a significantly increasing loan volume." It is part of the expected strong growth in new business from the increased utilization will result in already existing lines of credit. "-Damping effects are however still of major companies in particular repayments. Adjustments other hand, play almost no role," said the Bundesbank.
The expected increase in credit growth, banks lead therefore attributed to many factors. The majority are called above all their enhanced risk assessment in the course of economic recovery and a rising credit demand by enterprises for investment and export financing. "The bank managers plan to leave their rejection rates unchanged despite the increase in demand," the Bundesbank.
Despite the credit growth and the expected costs arising from EMU sovereign debt crisis, the interviewees of the Federal Bank increased capital ratios predicted for 2011. This they want to achieve mainly through retained earnings, raising new equity and the reduction of other risk-weighted assets. "Basel III are to want to react the Institute in 2011 with a particular increase in its regulatory capital. Adjustments in the carrying their credit however, reportedly planned for 2011, hardly", said the Bundesbank.

Website: www.bundesbank.de
DJG / res / mle / dok

Danone Dumex India takes to visor

Doerrfruechte_becher_final_Quelle_OBS_Danone PARIS (Dow Jones) – French food group Danone is considering the purchase of the Indian baby food manufacturer Dumex India, as the French newspaper Les Echos reported, citing unnamed sources on Monday. (Photo: obs / Danone)

Danone will seek other investments in India, fail if the acquisition of Dumex India should, as stated in the report further said. Danone declined to comment to do so.

Danone have long pursued a course of expansion into new areas. Back in June last year, the dairy and food company had announced that it will be business with fresh dairy products in Russia with the Russian dairy company Unimilk merge. With shops in Russia, Ukraine, Kazakhstan and Belarus should Danone Unimilk become the largest dairy company in the region, particularly in Russia where the company will have a market share of 21%. Danone wants to venture into new geographical regions, Danone CEO Franck Riboud, said last year.

DJG / DJN / jvm / dok

Strong demand for the first EFSF bond

LONDON (Dow Jones) – The first issue of the European financial stabilization facility (EFSF) with a maturity of five years has met on Tuesday as strong demand from investors. The issue was oversubscribed more than eight times, for the offered volume of EUR 5 billion bids were received for more than 40 billion EUR from over 500 addresses, as a syndicate bank said.

The price indication for the initial return was set at six basis points over mid-swaps. The mid-swap is an important benchmark in the interbank market. The three banks, Citigroup, HSBC and Societe Generale are joint lead managers in this first EFSF emission, with the EUR 5 billion to be included in the capital market to Ireland to help the financial crunch. The EFSF has all three major rating agencies are an "AAA" rating.
As part of the Support Programme for Ireland EFSF plans in the years 2011 and 2012 a total capital raising of up to EUR 26.5 billion. After the acute debt crisis in the spring of 2010, the EU had put up with the International Monetary Fund (IMF), the Euro-shield with a total volume of 750 billion EUR. Its core consists of the EFSF, which has a circumference of 440 billion EUR and is supported by the euro countries. Added to IMF assistance come in the amount of EUR 250 billion and a credit line of the EU Commission of 60 billion EUR.

DJG / DJN / apo / mle / dok

UK GDP falls unexpectedly in the fourth quarter

2011-01-13_Themse_ddp

FRANKFURT (Dow Jones) – The ranks of GDP releases of the major industrial countries began on Tuesday with an unpleasant surprise. (Photo: Reuters)

Britain’s gross domestic product (GDP) declined from the previous quarter by 0.5% while the Dow Jones Newswires survey of analysts had forecast a rise of 0.4%. In the third quarter, an increase was reported by 0.7%. Compared to the same period, GDP grew by 1.7% in the fourth quarter, after growth of 2.7% in the third quarter. Economists had expected an increase of 2.6% over the year. The pound and the London stock market gave the morning after strong.
National Statistics said the first fall in GDP since the third quarter of 2009, especially with the severe winter weather in December. The heavy snowfalls have affected mainly the services sector, but also the construction industry, it said. Without the impairment by the onset of winter, the economic performance in the fourth quarter after the presentation of a statistician would have been constant. Economists expressed their disappointment to skepticism about the data, but were confident that the second card GDP will be positive.
"The business surveys – even those for December – suggests not remotely indicate a weakness in GDP, as reported here," complained Citigroup economist Michael Saunders. Saunders pointed out that the British GDP data were released relatively early, which often prefer to be strong revisions. If National Statistics barely subject data for December, in which the heavy snow cases occurred. Moreover, are data in the construction industry, for a minus of 3.3% was reported, have been very volatile recently.
ING economist Rob Carnell well-expressed view of the next release will hope for an upward revision. "The first GDP figures are based on a fairly narrow range of production indicators, and it is likely that the next time pending use-side data will look less weak," he said. could nevertheless warned Carnell, take that with so weak data, the concerns about the impact of government cost cutting program and the incentives for investments in pounds disappear. The pound depreciated against the dollar in the morning from 1.5900 to £ 1.5750 from / USD, the FTSE 100 lost 0.8%.
Simon Hayes of Barclays Capital warned against pinning too much hope for an upward revision in second publication. Although revisions are quite common, but they fell by 0.1 to 0.2 percentage points is usually not very high, so that one can ignore the current GDP estimate is not easy, he argued, adding: "Even by statisticians brought into play weather-adjusted GDP stagnation questions about the sustainability of the economic recovery would raise. "

Website: www.statistics.co.gov
By Hans-Bentzien, Dow Jones Newswires, +49 (0) 69 29725 300
Hans.Bentzien @ dowjones.com
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