Government extends repayment deadline to emergency business account to 2023
OTTAWA — Businesses struggling under yet another round of lockdowns and capacity restrictions will have an extra year to repay emergency interest-free loans issued by the federal government, but business groups say that might not be enough breathing room for the hardest hit. The Canada Emergency Business Account offered interest-free loans of up to $60,000 to small businesses and not-for-profits. When the government first created the CEBA program at the onset of the pandemic, it set a repayment deadline of Dec. 31, 2022, for anyone who wanted to take advantage of zero interest and having a portion of the loan forgiven.
Germany's medium-sized companies, according to the Bundesbank calculations, do not fear a significant increase in expansion of loans as a result of the tightened capital regulations for banks. © Arne Dedert / DPA View of the skyline of the banking city of Frankfurt: Germany's medium-sized companies, according to the Bundesbank calculations, do not fear a significant increase in price of loans due to the tightened capital regulations for banks.
The Bundesbank see the financing by the proposal of the EU Commission to implement the "Basel III" reform does not make it difficult, writes the central bank in a post published on Friday, which previously reported the "Handelsblatt".
Private households rich as never: monetary assets on record high - rise weakens from
The people in Germany have been rewarded their assets in the second pandemea year and are in the sum as rich as never. However, growth flattened in the third quarter of 2021, as the Deutsche Bundesbank announced on Friday in Frankfurt. The cash assets of private households from cash, securities, bank deposits and claims against insurance rose to the record value of around 7399 billion euros. © dpa The people in Germany are so rich in the sum. (Symbol image) These are 73 billion euros or 1.0 per
The EU Commission had submitted its legislative proposals for the implementation of the rules tailored to the international level at the international level at the end of October in the end of October. Accordingly, banks in the European Union are to increase their capital buffers by up to 8.4 percent by 2030 to better cushion potential risks.
loans to companies that are not evaluated by rating agencies should secure money houses according to the will of the EU Commission with more equity capital. To calculate risks, institutes may only use their own computing models. The measures should be reached from 2025. Before the package comes into force, the European Parliament and the EU states must agree.
Video: Report: traffic light prepares in crisis sessions omikron "emergency operation" for Germany before (Glomex)
Djokovic back into swing in Australia, visa questions linger
MELBOURNE, Australia (AP) — Novak Djokovic held a practice session on Tuesday, a day after he left immigration detention, focusing on defending his Australian Open title even while he still faces the prospect of deportation because he’s not vaccinated against COVID-19. The top-ranked tennis star hit the show courts of Melbourne Park, where the tournament is held, within hours of winning a legal battle that allowed him to stay in the country. AtThe top-ranked tennis star hit the show courts of Melbourne Park, where the tournament is held, within hours of winning a legal battle that allowed him to stay in the country.
No own models
Do not use your own models
Do not use your own models, but a standard approach, conducts the Bundesbank. "The approximately 1300 German institutes, which primarily finance small and medium-sized companies and use the standard approach, are hardly affected by rising capital requirements," said Bundesbank Board Joachim Wuermeling. The market share of such banks in the financing of smaller and medium-sized enterprises estimated the Bundesbank to just under 70 percent.
The Federal Association of German Banks (BDB) had pointed out that many German SMEs have no external rating and warned, the new rules for banks will make corporate financing more difficult.
According to the Bundesbank's calculations, the effects of new specifications would also be limited to medium-sized banks of larger banks: If these institutes are fully passing on their increased capital requirements, this would therefore lead to a surcharge on their lending rates of 0.25 percent from 2033. X1
Interest rate announcement, COVID rates across Canada: In The News for Jan. 26 .
In The News is a roundup of stories from The Canadian Press designed to kickstart your day. Here is what's on the radar of our editors for the morning of Jan. 26 What we are watching in Canada Economic eyes will be on the Bank of Canada this morning as the central bank is scheduled to make an announcement about its trendsetting interest rate. Some economists are expecting the central bank to raise its key policy rate from its rock-bottom level of 0.25 per cent, marking the first of multiple hikes over the course of 2022.