Professional Documents
Culture Documents
The European Central Bank left interest rates at a record low 0.5 per cent on Thursday and affirmed that they will remain there for some while to come and could yet fall further. Source: www.financialexpress.com Impact: The ECBs expectation was justified by a subdued inflation outlook and a weak economic environment. But low rates are not without side effects. They can lead to reforms and necessary structural changes being deferred. Financial stability risks can grow. These side effects increase with time in the low interest rate phase. The commitment to keep rates low may be intended to amplify the effect of the current low rate by reassuring investors that they can count on easy money for the foreseeable future.
Bank of the Philippine Islands (BPI) Partners with IBM to Transform Banking IT Operations and Strengthen Client Services
Bank of the Philippine Islands (BPI) and IBM announced today the signing of a strategic partnership agreement to outsource BPI's existing IT infrastructure services to IBM. Under the agreement, IBM will take over BPI's IT network and data center activities. Source: www.4-traders.com Impact: This will allow BPI's Information Systems team to better concentrate on the bank's strategic initiatives. This engagement will help BPI focus on more strategic business areas while IBM manages its day-to-day IT operations. IBM will provide smarter, scalable IT services and capabilities that will enhance and accelerate BPI's transformation for growth. P.S: BPI is the recognized leader in electronic banking, having introduced most of the firsts in the industry. BPI enjoys the highest credit ratings from international rating agencies. It is the only investment grade local bank in the country as rated by the Fitch Ratings agency.
poured Dh25 billion into bank deposits to boost liquidity at banks, the first tranche of the Dh70 billion rescue facility. It deposited another Dh25 billion into banks in November the same year.