Saturday, August 17, 2024
Overview of CBI Procedures and Instructions for Banks Handling Exchanges BY DINAR REVALUATION, 17 AUGUST
Overview of CBI Procedures and Instructions for Banks Handling Exchanges
The Central Bank of Ireland (CBI) has been proactive in sending out procedures and instructions to banks regarding the handling of exchanges. These guidelines are part of the CBI's efforts to ensure that banks are well-equipped to handle various financial exchanges and transactions, especially in light of the rapidly evolving global financial landscape.
CBI's Regulatory and Supervisory Outlook
The CBI published its Regulatory and Supervisory Outlook for 2024. outlining the key trends and risks facing the financial sector. This report sets the context for the procedures and instructions sent to banks, emphasizing the importance of proactive risk management, resilience, and consumer-centric approaches by the leadership of financial institutions.
CBI's Priorities for Banks
The CBI has set six overarching supervisory priorities for banks to ensure they can effectively handle exchanges and other financial transactions:
- Promoting Proactive and Consumer-Centric Leadership: Banks must prioritize consumer interests in all operations and decision-making processes.
- Ensuring Firms Are Resilient: Banks need to strengthen their operational frameworks to withstand economic and market uncertainties.
- Addressing Deficiencies in Operational Frameworks: Continuous improvement of internal controls and processes is necessary to maintain high standards of operation.
- Managing Change Effectively: Banks must adapt to regulatory changes and technological advancements while ensuring compliance and smooth transitions.
- Climate Change and the Transition to a Net-Zero Emission Economy: Financial institutions should integrate environmental considerations into their risk management and investment strategies.
- Enhancing Regulation and Supervision: Banks are encouraged to collaborate with regulators to develop and implement best practices.
Revised Consumer Protection Code
The CBI has proposed revisions to the Consumer Protection Code 2012. which includes a set of clarified, modernized, and targeted protections for consumers. These changes aim to enhance firm ownership of consumer issues and secure customers' interests.
Collaboration with Fintechs and Bigtechs
The relationship between banks, fintechs, and bigtechs is evolving rapidly. Fintechs are no longer seen as adversaries; instead, collaboration with incumbents is becoming more common. Strategic partnerships between banks and technology companies are increasingly the norm for customer acquisition and retention.
Conclusion
The CBI's procedures and instructions for banks handling exchanges are part of a broader strategy to ensure the financial sector's resilience and adaptability. By focusing on consumer protection, operational resilience, and strategic partnerships, the CBI is preparing banks to navigate the challenges and opportunities of the current financial landscape.
SOURCES:
LATEST FROM MARKZ, 17 AUGUST
MARKZ
- Fri. 16 Aug. 2024 MarkZ
- Mark was hearing the process was underway. More bond contacts continuing to anticipate payments through the weekend. One large group in Reno is expectant but hasn’t started yet. Redemption Centers on standby. Mark suggested things could very well start this weekend but don’t be disappointed if it takes an extra day or two.
MarkZ
[via PDK] Question: Any word on the HCL in Iraq?
MarkZ: It is still back in the Parliamentary committee to rewrite a few of the paragraphs…then it will go to parliament…which could be any day… When it is approved you won’t have to ask…I will be screaming it out…
Thurs. 15 Aug. 2024 MarkZ
“The CBI started sending out procedures and instructions on how to handle exchanges to banks. It is clear that they are preparing. You can go to the CBI and read it yourselves. This morning a bond person said they are still expecting funds today.
Also had a bond processor in a different area (a different continent) is still being told to expect their fees and payment this afternoon. I am very hopeful we will see real bond money movement today. I am antsy and excited after one confirmation today and one last night from another source.
Quite a few people believe that Iraq will be in the WTO on 18 Aug 18th and quite a few people were looking between Sun. 18 Aug and Wed. 21 Aug. forsome changes in values. We saw Farm Claims start to move with the Pickford farm claims for black farmers. I am also hearing good things on the fines and penalties that could go at any moment.”
Wed. 14 Aug. MarkZ: “Not only were the Pickford claims (black farmers) being paid out, but also the other Farm Claims have started paying out – in the billions, along with the R&R payouts” (which were assumed to be going into our QFS Accounts).
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RECENT POSTS OF MARKZ:
RV UPDATE BY MARKZ, 15 AUGUST
https://dinarevaluation.blogspot.com/2024/08/rv-update-by-markz-15-august.html
"THOSE RATES WILL BE MUCH HIGHER THAN YOU EXPECTED" BY MARKZ ( ENGLISH AND SPANISH), 13 AUGUST
https://dinarevaluation.blogspot.com/2024/08/those-rates-will-be-much-higher-than.html
NESARA in 2024: Understanding the Controversial Economic Reform Proposal BY DINAR REVALUATION, 17 AUGUST
NESARA in 2024: Understanding the Controversial Economic Reform Proposal
NESARA, or the National Economic Security and Recovery Act, is a set of proposed economic reforms for the United States that gained attention in the 1990s [1]. Initially suggested by private citizen Harvey Francis Barnard, the proposals included replacing the income tax with a national sales tax, abolishing compound interest on secured loans, and returning to a bimetallic currency [1]. Barnard claimed these reforms would result in 0% inflation and a more stable economy [1]. However, the NESARA proposals were never introduced before Congress [1].
Since the early 2000s, NESARA has evolved into a cult-like conspiracy theory promoted online by Internet personality Shaini Candace Goodwin, also known as "Dove of Oneness" [1]. Goodwin appropriated the NESARA notions without Barnard's consent and claimed that the act was secretly passed with additional provisions as the National Economic Security and Reformation Act and then suppressed by the George W. Bush administration and the Supreme Court [1]. Goodwin's conspiracy emails gained a large following online and were translated into several languages [1].
Adherents to the NESARA theory also began using the name GESARA, or Global Economic Security and Recovery Act [1], to extend the proposed NESARA reforms outside the U.S. and to the rest of the world [1].
Critical Components of NESARA and GESARA
The proposed reforms under NESARA and GESARA typically include: Resetting of gold standards Debt forgiveness for public and private debts Abolition of income tax and introduction of a new sales tax Increased transparency in banking and financial transactions [2]
Public Perception and Misinformation
Due to their secretive and speculative nature, much misinformation surrounds NESARA and GESARA [2]. These theories are often tied to utopian financial scenarios, contributing to their mystery and allure among followers [2].
Legal and Economic Implications
If such reforms were taken seriously, they would have profound legal and economic implications worldwide, disrupting international markets and legal systems [2].
Global Response and Regulatory Issues
The global adoption of such sweeping reforms would require unprecedented cooperation among governments, which is highly unlikely given the current international political climate [2].
Impact on Financial Markets
The supposed reforms could lead to significant upheavals in global financial markets, affecting currencies, stock markets, and international trade [2].
Influence on National Sovereignty
Implementing GESARA could infringe on national sovereignty, requiring nations to cede significant control over their economic policies [2].
Technological and Administrative Challenges
Implementing such extensive financial reforms would present significant technological and administrative challenges [2].
As of August 17, 2024, NESARA and GESARA remain speculative economic reform proposals without official status or recognition by any government [2].
LATEST FROM RV HIGHLIGHTS, 17 AUGUST
Fri. 16 Aug. 2024 RV Highlights
Nesara will be announced first. This way the PUBLIC (everyone) will receive financial relief from debts. The RV will also be released QUIETLY for T4b for us to revalue. Once 4b is done or nearly done, then the public will commence on their exchange. The purpose of the NDA is to keep T4b mouths shut (or their funds will be clawed back) regarding the amount of rates being paid out because the PUBLIC will NOT be receiving the same high rates. This is to keep the PUBLIC for being upset and causing backlash.
RV HIGHLIGHTS
Translated directly from the CBI document:
Licensed banks all approved
Electronic payment companies all approved exchange companies from categories A and B
Procedures for the work of agents of external transfer service providers
Greetings
Based on the supervisory and supervisory role of this bank. And in order to regulate the with procedures of agents providing foreign remittance services in light of the rapid developments of the financial coal transfer service and to limits to insure for speculation purposes and benefiting from the exchange rate difference. ..FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/latest-from-rv-highlights-via-telegram.html
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