LATEST FROM GOLDILOCKS, 24 AUGUST

 GOLDILOCKS

A delegation from the Central Bank of Iraq travels to the United States of America to resume negotiations on the banking sector.

A source familiar with the Economy News told “Economy News” that a delegation from the Central Bank of Iraq will start its negotiations with the US side on the current 26th of Aug, in America.

He added that the central bank has moved to sign a contract with Oliver Wyman International to present a plan on reforming the private banking sector, over the next six months.

He pointed out that the plan proposed to be submitted includes the merger of some banks or the cancellation of the license of some banks.

https://search4dinar.wordpress.com/2024/08/24/iraq-and-america-resume-negotiations-on-banking-sector-next-monday/

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In October 2012 the Basel Committee on Banking Supervision published a document on “a framework for dealing with domestic systemically important banks” (the “Basel D-SIB framework”).

This followed the work that had already been done on the policy measures designed for global systemically important banks (“G-SIBs”), to enhance their loss absorbency capacity over and above Basel III requirements."

What does this mean for Iraq? It means that Iraq has reclassified their banking system to absorb the shocks of stress caused by economic failures. 

Iraq has protected their banks with gold and other commodities to ensure their banking system continues to flow into the new economy. 

Does this reclassify their currency? It sure does. We are not being told that it is presently in place just yet. All we know is that they have the means to reclassify their banking system if Global Banking stress measures need to be taken.

© Goldilocks

https://www.iomfsa.im/regulated-sectors/deposit-taking/domestic-systemically-important-banks/

https://cbi.iq/news/view/2649

https://youtu.be/cXADsXdx1oQ?si=IHe9Ato_xtnSeOgS

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Selected Banks in Iraq have reached a new classification. More on this tomorrow.

These banks will be supported no matter what stress is taking place. 

© Goldilocks

https://youtu.be/cXADsXdx1oQ?si=Phm4jVLSYGSfJ4to