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http://indiatoday.intoday.in/story/...l-with-crisis-in-banks-insurers/1/978428.html
Cabinet clears Bill to deal with crisis in banks, insurers
The Press Trust of India Published on June 14, 2017
New Delhi, June 14 (PTI): A proposal to introduce a Bill in Parliament for setting up a Resolution Corporation to deal with bankruptcy in banks, insurance companies and financial entities received Cabinet go-ahead today. The Financial Resolution and Deposit Insurance Bill, 2017, which aims to instil discipline in financial service providers in the event of a financial crisis by limiting the use of public money to bail out distressed entities, was approved by the Union Cabinet chaired by Prime Minister Narendra Modi today, an official statement said.
The proposed Bill will provide for a comprehensive resolution framework to handle any bankruptcy situation in banks, insurers and financial sector entities. According to the statement, the Bill when enacted will pave the way for setting up of the Resolution Corporation. It would also lead to repeal or amendment of resolution- related provisions in sectoral Acts as listed in Schedules of the Bill.
“It will also result in the repealing of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, to transfer the deposit insurance powers and responsibilities to the Resolution Corporation,” it said. The Resolution Corporation would ensure the stability and resilience of the financial system, protecting the consumers of covered obligations up to a reasonable limit and public funds to the extent possible. The government has recently enacted the Insolvency and Bankruptcy Code, 2016, for the insolvency resolution of non- financial entities.
The proposed Bill complements the Code by providing a resolution framework for the financial sector. Once implemented, this Bill together with the Code will provide a comprehensive resolution framework for the economy. It seeks to give comfort to consumers of financial service providers during any financial distress. It would help in maintaining financial stability in the economy by ensuring adequate preventive measures while at the same time providing necessary instruments for dealing with a post-crisis situation.
The Bill aims to strengthen and streamline the current framework of deposit insurance for the benefit of a number of retail depositors. Further, this Bill seeks to cut down the time and costs involved in resolving the problem of the distressed entities.
Cabinet clears Bill to deal with crisis in banks, insurers
The Press Trust of India Published on June 14, 2017
New Delhi, June 14 (PTI): A proposal to introduce a Bill in Parliament for setting up a Resolution Corporation to deal with bankruptcy in banks, insurance companies and financial entities received Cabinet go-ahead today. The Financial Resolution and Deposit Insurance Bill, 2017, which aims to instil discipline in financial service providers in the event of a financial crisis by limiting the use of public money to bail out distressed entities, was approved by the Union Cabinet chaired by Prime Minister Narendra Modi today, an official statement said.
The proposed Bill will provide for a comprehensive resolution framework to handle any bankruptcy situation in banks, insurers and financial sector entities. According to the statement, the Bill when enacted will pave the way for setting up of the Resolution Corporation. It would also lead to repeal or amendment of resolution- related provisions in sectoral Acts as listed in Schedules of the Bill.
“It will also result in the repealing of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, to transfer the deposit insurance powers and responsibilities to the Resolution Corporation,” it said. The Resolution Corporation would ensure the stability and resilience of the financial system, protecting the consumers of covered obligations up to a reasonable limit and public funds to the extent possible. The government has recently enacted the Insolvency and Bankruptcy Code, 2016, for the insolvency resolution of non- financial entities.
The proposed Bill complements the Code by providing a resolution framework for the financial sector. Once implemented, this Bill together with the Code will provide a comprehensive resolution framework for the economy. It seeks to give comfort to consumers of financial service providers during any financial distress. It would help in maintaining financial stability in the economy by ensuring adequate preventive measures while at the same time providing necessary instruments for dealing with a post-crisis situation.
The Bill aims to strengthen and streamline the current framework of deposit insurance for the benefit of a number of retail depositors. Further, this Bill seeks to cut down the time and costs involved in resolving the problem of the distressed entities.
'system hopping' is common among the traders... The reason is mostly bcoz of that system has no edge (positive expectancy), so such system only accumulates loss when traders stay with such system. Hence another try with another system.
But traders must analyze the risk-reward with every trades to determine correct position size. And the strength and weakness of that system before applying it. The market is dynamic in nature, when condition/patterns change some system starts working, some system stopped working...
Traders must know when to trade and not to trade with that system... Only after years of observing a system on the live market, such understanding comes...Most people don't have such patience, so they start system hopping again...It's the problem of not having enough patience & perseverance. IMO..
But traders must analyze the risk-reward with every trades to determine correct position size. And the strength and weakness of that system before applying it. The market is dynamic in nature, when condition/patterns change some system starts working, some system stopped working...
Traders must know when to trade and not to trade with that system... Only after years of observing a system on the live market, such understanding comes...Most people don't have such patience, so they start system hopping again...It's the problem of not having enough patience & perseverance. IMO..
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