Q & A
QUESTION: Does a rate change need parliament approval or just CBI governor announcement?
MZ: According to parliament and the president of their country it only requires the CBI governors announcement. The government has already done everything they needed to do. We heard this last week.
QUESTION: Would someone please explain Basal 3 ? I'm sorry if this is a repeat. Thanks.
MZ: In a nutshell-Basel 3 is stricter reserve requirements for banks so that they are better able to deal with downturns. or loses or problems in the markets. They have to have more assets in order to pay share holders, depositors ect…… .to have enough reserves in case there is a problem . But imo…its not enough reserves….but its more than what they required before.
QUESTION: Mark Do we need to sigh an NDA at our exchange?
MZ: I was told the need for an NDA for currencies is getting slimmer and slimmer. But you may have one for the humanitarian projects. I could be wrong