European banks eye capital and gird for loan losses

European banks shored up their stockpile of capital on Monday amid concerns about a rising flood of bad loans from the spreading economic storm.
Banks around the region already have taken billions of Euros in write downs on their investments in complex structured credit products, but the financial crisis is increasingly spreading to the real economy, creating a double-whammy for earnings as companies cut borrowing and struggle to repay business loans.
Swedish financial group Swedbank scrapped plans for a dividend for 2008 due to a worsening economic environment, particularly in the Baltic states and Ukraine, where sharp recessions are likely to lead to a big increase in loan losses.

Swedbank Chairman Carl Eric Stalberg said the bank was very well capitalized and markets initially cheered the move to bolster the capital base, though worries about the outlook in eastern Europe weighed.
"Things have got so bad in the Baltics that they have got to do this, and that is negative," said Henrik Schmidt, analyst at Keefe Bruyette & Woods.
Swedbank made a six-fold increase in loan loss provisions in the fourth quarter mainly due to contracting Baltic economies.
Investors have also worried about eastern Europe business at other lenders, such as Italy's UniCredit and Germany's Commerzbank, which on Monday said it was pumping 4 billion Euros (3.64 billion pounds) into recently acquired Dresdner Bank to shore up its regulatory capital. Another big player in emerging markets, HSBC, was also under pressure on Monday, losing 11 percent as short sellers dumped the stock in anticipation of buying it back after the bank completes its $17.7 billion rights issue.
"With HSBC there are worries about credit quality ... There is not a whole lot that is bright news out there anywhere today," said Bernard McAlinden, strategist at NCB Stockbrokers.
"There are doubts everywhere that policy response cannot actually stabilize the global economy," he said.
Even a more optimistic outlook by the chief executive of Germany's biggest bank, Deutsche Bank, was unable to cheer the European banking sector, with the DJ Stoxx sector index down 4.7 percent at 12:36 p.m. British time.
Deutsche's Josef Ackermann said the positive business trend his bank had seen in January had continued last month.
"By the end of January, we had revenues of 2.8 billion euros. February largely confirmed this development," Ackermann told German business daily Handelsblatt.
Shares in Belgium-based Fortis gained 27 percent after the Belgian government and BNP Paribas revised the terms of the break-up of the financial group.
Meanwhile, the European Union is set to back the International Monetary Fund's (IMF) call for a doubling of its funds as a growing number of countries turn to it for help, ahead of the G20 summit.
Last week, the IMF acknowledged its warnings before the crisis were insufficient.
CAPITAL HEADACHE
Lenders and their national governments are still fretting about how best to tackle the capital problems at the heart of the financial crisis that are sapping confidence and keeping banks from lending, compounding the slump.
Financial officials are trying to hammer out a common approach.
Top executives of leading U.S., Japanese and European banks will meet in London this month to discuss regulation and other issues key to the future of the financial system, two industry sources said.
The British government will host the meeting on March 24, after a gathering of Group of 20 (G20) finance ministers in London this weekend and ahead of a summit of G20 leaders there on April 2, according to the sources who declined to be identified because the meeting has not been made public.
The meeting was expected to discuss capital adequacy guidelines and other regulatory issues, the sources said.

The crisis is continuing to keep regulators busy.
Iceland's financial watchdog said on Monday it had taken over investment bank Straumur Burdaras, the last major Icelandic bank left standing after the country's financial collapse in October.


[SigmaForex Trio Contest]

SigmaForex Ultimate Forex Monthly Champion Double your pleasure, Double your fun and Double your FUNDS.

SigmaForex has exactly what it takes to give you the ultimate forex trading experience and what it needs to make it more successful, more attractive, and more effective.SigmaForex Practice Competition

Let us show you that if you're not utilizing SigmaForex services, you're missing the boat…and potential profits! Every Service taken on is given the time, skill necessary, and awareness to detail to produce the results that your satisfaction demands.

Nothing comes between us and you, we rely on your business; therefore, you can rely on ours, which means that we will be working hard on our behalf to make certain of your success.

Reliability Is Natural For Us, Our Services and Products Natural For You.

We care to make you feel secure with us, and that is a priceless service that will bring in continuous benefits for both of us. Which is why we have created the Trio contest, it is the First and the Only Tri contest in the World wide Financial Market called Forex.

TRIO Contest divides into 3 Main contest stages,

1. Elite Competition
Every game is new business opportunity (Elite Contest)
2. Oriental Competition
A Virtual World with Live Pictures (Oriental Contest)
3. Post-Graduate Competition
Opening a new page in your Life (Post-Graduate Competition)

International Monetary Fund

The International Monetary Fund's Dissemination Standards Bulletin Board (DSBB) provides access to the Special Data Dissemination Standard (SDDS), the General Data Dissemination System (GDDS), and the Data Quality Reference (DQRS) sites.

• The SDDS was established in 1996 to guide countries that have, or that might seek, access to international capital markets in the dissemination of economic and financial data to the public. This site provides information about economic and financial data disseminated by member countries that subscribe to the SDDS.
• The GDDS was established in 1997 to guide countries in the provision to the public of comprehensive, timely, accessible, and reliable economic, financial, and socio-demographic data. This site provides information on data produced and disseminated by member countries that participate in the GDDS.
• The Data Quality Reference Site (DQRS), which was created to foster a common understanding of data quality, provides access to contributions in the field and includes a selection of articles and other sources related to data quality issues.

[SigmaForex Funding Methods]

Safety of funds plays an important role in any type of business; we make our best efforts to ensure protection of customers’ money.

Minimum deposit required for funding new accounts:
Our accounting department is ready to help you fund your new account or add funds to an existing account. For Standard Dealing Desk Accounts the minimum deposit is $ 500, and for the No Dealing Desk Accounts the minimum deposit is $ 2000.
Deposit instructions:
You must open a web account and associate it with your live account to insure security of transactions in your account

How to do so?
1. Open web account
2. Login and associate your Live Trading Account with your Web Account
3. Login to your Web Account and click 'Make a Deposit"

Deposit methods
1- Bank wire transfer
A wire transfer is a transfer of money from one bank account to another. The actual transfer is done by the bank, and neither the sender nor the recipient of the money sees or touches the actual funds.
Deposit Time
1-5 business days SigmaForex does not guarantee deposit times in the event of a margin call

Fees
None
SigmaForex will not be held responsible for charges or fees assessed by going through an intermediary bank.
Withdrawal Eligibility
Immediate availability

Restrictions
The account holder name of the funds must always match the name listed as the customer on the trading account.
2- E-gold payments
Open www.e-gold.com- Create new e-gold account - Issue transfer request from your e-gold account to SigmaForex e-gold account.
Deposit Time
Immediate deposit SigmaForex does not guarantee deposit times in the event of a margin call
Fees
None
SigmaForex will not be held responsible for charges or fees assessed by going through an intermediary bank.

Withdrawal Eligibility
Immediate availability
Restrictions
The account holder name of the funds must always match the name listed as the customer on the trading account.

You do not have an account yet?
Open Live Account

bailout funds

The Senate voted 52-42 against a resolution that would have barred Obama from using the roughly $350 billion remaining in the program.
A number of senators crossed party lines on the vote. Six Republican senators voted for the release of the bailout funds, and nine Democratic senators voted to bar the use of the remaining billions.
Obama wants access to the remaining funds to expand lending to consumers and small businesses, but lawmakers from both sides of the aisle have expressed opposition to releasing the funds from the unpopular rescue plan.
Obama and his team members called senators all day in advance of the vote, a transition official said.
Earlier in the day, Larry Summers, Obama's economic adviser, sent a letter to Senate Majority Leader Harry Reid, seeking to reassure senators that the incoming administration would be more responsible with the second half of the bailout funds. Summers also pledged to commit $50 billion to $100 billion to address foreclosures.
In the letter, Summers wrote, "We completely agree that this program must promote the stability of the financial system and increase lending, preserve home ownership, promote jobs and economic recovery, safeguard taxpayer interests, and have the maximum degree of accountability and transparency possible."

Obama exclusive

CNN's John King checks in with President-elect Barack Obama just days before he's sworn in. What's his top priority?
Friday, 6 p.m. ET

see full schedule »
Summers added, "The incoming Obama administration has no intention of using any funds to implement an industrial policy."
Many Republicans say they were angry that President Bush used the money for the auto industry, and they disagree with proposals to spend the money on other industries beyond the financial sector.


[SigmaForex Withdrawal Methods]

To withdraw funds from your account Please make sure that you have sufficient funds in place to cover the the necessary margin required for your open positions, after your requested withdrawal.

No requests for transfers to persons other than the account holder will be processed.
SigmaForex may require further identification or documentation in order to complete your request.
Please Note that transfer fees and bank charges may apply, and depend on the form of transfer.
Please note that we try to process the withdrawal request quickly. However, it may take up to 5 business days, depending on the method of transfer.

Your withdrawal from sigma account will be in an efficiently, secure and fast, you can withdraw money from your SigmaForex account at any time.

Withdrawal steps:

1. Login to your web account
2. Choose your withdrawal method
3. Fill the withdrawal form and write down the withdrawn amount

Rising costs

The situation could get worse soon. Prices at the pump have been pushed to levels many couldn't conceive of even a year ago, and analysts and the Energy Department are both expecting the cost of gas to rise even further this spring and summer.

For many, obligatory commutes and a lack of public transportation make it tough to cut back much on the one thing that could make the most difference — driving itself. Still, faced with paying $3.50 or more per gallon, some Americans say they have been forced to drop their cars altogether, or at least to reduce trips to the mall or even grocery store.
Patricia Brown had never commuted via public transportation until about a year ago, when gas prices hit $3. Now Brown spends one hour and 45 minutes every day on a bus and train, plus another 17 minutes (yes, she’s timed it) walking 1.1 miles from the station to her office.
Brown, who lives in Glen Carbon, Ill., said her commute used to take anywhere from 45 minutes to over two hours depending on traffic, and giving up her car has meant sacrificing time at the gym and night classes. But on the plus side, Brown said she’s happy to leave the driving to someone else when the weather gets nasty, while she knits or crochets. The cost savings also have allowed the 63-year-old to stay on financial track.

“I can save more money for my retirement,” she said.
For people who are already retired, a sudden spike in gas prices can be even more of a blow.


[SigmaForex Customer Support Area]

Customer satisfaction is number 1

It's a well known fact that no business can exist without satisfied customers, Sigma support you with all your needs that have been chosen according to your demands.
Our slogan is to achieve the maximum level of satisfaction for our customers for that we built customer support which is availble 24/7 to be reached for all clients at any time.

Open Live Chat Now

Email Us

FAQs

Funding Methods

Withdrwal Methods

Trading Agreement

Mitsubishi UFJ

Mitsubishi UFJ Financial, Japan’s biggest bank, on Friday cut its full-year earnings outlook, joining several of its domestic rivals in reporting dismal earnings that exposed the strains to the sector from sharp falls in the stock market last year.
While toxic mortgage-related assets that have dragged down numerous U.S. and European banks, a shrinking economy and a drop in the value of Japanese banks’ sizeable stock market holdings have emerged as the main problem for banks like Mitsubishi UFJ, Mizuho Financial Group and Sumitomo Mitsui Financial, and others.
Ownership of Japanese companies’ helps cement business ties for many banks in the country but the market rout has forced them to revise downward the value of those assets, eroding their capital bases.

Although analysts had long cautioned that the sharp fall in the global stock market during the last three months of 2008 would have this effect, the third-quarter results reported by Japanese banks in recent weeks highlighted the scale of the issue, and thrust it to the forefront of policymakers’ concerns for the sector.

The governor of the Bank of Japan, Masaaki Shirakawa, on Friday reiterated that the falling value of their cross-shareholdings represented the biggest risk for Japanese banks. And earlier this week, the central bank aimed to address the same point by offering to buy up to 1 trillion yen, or $11.1 billion, of the shares that Japanese banks hold in other corporations.


[SigmaForex Bonus Revolution]

Have you ever imagined that even the hardest times can lay your interest?

You may now wonder and asking yourself how it can be done while we live the toughest time in our economic world. All imagine that we have reached the top of the crisis and will remain there for a cloudy time, which has been specified predictably by the economic experts.

But what if you have the key for passing by all that?

Actually the key solution is within your hands! But what happened is that you have got blinded with the shock of unexpected financial crisis that extends its arms to hold the entire economic world for a not specified time. All what you need is some confidence and a helping hand guiding you to a real bright path.

Almost all successful people have learned how to make their own interest even from their own loss! Just some confidence and resistance, and above all the choice of the right hit at the right time. It is a common goal for money makers to have a continuous ability of preserving their financial status. So, stop thinking of the goal only and start thinking of the way you are going to do it, and ask yourself how can I still make the amount of money I was doing before even in the worst time in economic history?

One of the most necessary steps in your thinking and performance is not to take a long time in thinking and planning to be able to catch the chances available in the market, especially at this time. This doesn't mean to be rash, but to be selective and have the deepest insight.

In reversing the situation for the sake of your own interest, SigmaForex has strived to think and produce the best solution for money makers in FOREX through it's three types of accounts.

The motto of SigmaForex is "Not only physical power that can make you win, it is the power of mind that helps you the most to make the best living in all its sides".
The second step you need to go through after thinking is to apply the principle of "use the useless for your usefulness", by catching the best chances available. And here in speaking about the chances, Sigma Forex offers three unique business accounts with three bonus budgets existed nowhere else and we called it"The Bonus Revolution"

Enter Now The Bonus Revolution