Oplecenter Business & Finance News

NEW YORK – United States Central Bank (The Federal Reserve / Fed) has recorded a number of banks tightening credit standards apply various loan products, ranging from residential mortgages to business loans.

In a recent survey revealed the Fed has tightened bank lending to all types of loans during the quarter due to the worst financial crisis in seven decades on the economy.

Fed survey revealed, the first two weeks in October, a large enough percentage of banks that have made borrowing standards and requirements in all major loan categories over the previous three months.

The Fed noted about 85 percent of domestic banks have been tightening lending standards for commercial and industrial loans. While loans to businesses recorded increased from 60 percent in the June survey.

Even a larger proportion of the bank, which has 95 percent of the tightening of lending standards for credit expansion and increase the medium to large businesses.

Nearly 60 percent of banks said they had done tightening lending standards on credit card debt, while 65 percent said the bank doing the tightening lending standards for other types of consumer loans for three months.

Some big banks also reported tightening lending standards on housing loans, as well as nontraditional residential mortgage loans and residential mortgage loans simple extension of loans to borrowers who have a weakness in the mortgage payment. This was done since the housing sector went bankrupt because of the global financial crisis

JAKARTA – Indosat and Citibank cooperate in presenting the latest innovations of electronic banking services Citi Mobile, started in May 2008. Indosat as one of the leading telecommunication operator will provide the infrastructure, while Citibank will provide banking information and the means of payment through mobile commerce.

Cooperation between these two leading companies will be able to bring the sophistication of telecommunications technology to provide benefits in the form of new banking services for our customers. With Citi Mobile, customers can manage personal finances, which includes credit card and banking needs anywhere even outside the country.

Customers who often travel to enjoy e-banking through Indosat’s cellular service. Taking advantage of Citibank’s ability to manage credit card information and banking and adapt to individual needs, so customers can make transactions for credit card and banking such as checking balances, transfer funds, or credit card bill payments or loans. In addition, through mobile commerce facilities that customers can make purchases pulse content and regular bill payments.

? Cooperation between Indosat and Citibank, we hope to increase the added value Indosat service to customers who are also customers of Citibank. Customers will enjoy a simple banking transactions, fast and safe and can be made anywhere customers are supported by the latest telecommunication technology of Indosat, “says Director of Indosat Guntur S Marketinng Siboro through official statements, Saturday (10/9/2008).

“In this information age, the ability to access information in a timely manner is critical. We see these services as value added in the form of a virtual financial services to its customers by meeting the needs of the transaction. In this way we can control the customer’s financial condition in accordance with the lifestyle they had,” said Head of Citibank Retail Banking Meliana Sutikno

Italian designer Giorgio Armani, who some time ago was sick due to hepatitis, announced the company’s perspective change in the near future.

This is expressed in an interview with fashion site Daily Women Wears. Although not give details, Armani said that the change in perspective that will do well with regard to management companies, both in terms of strategy and promotion.

“The change I will announce in the near future,” said 75-year-old designer is.

Changes in the so-called designer who styled King Giorgio is allegedly related to financial issues, which during the last few years always haunt the company. In fact, the flamboyant designer is often out the signs that he could sell his company at any time. However, when asked about it, Armani is always evasive and said he would continue what I’ve been doing.

Not deny the changes done to better engage companies managerial sector, Armani said the shift in perspective will not happen by design. As for his own company, Armani said this happened in 2009 compared to a slight decrease last year.

The number of achieved profits amounted to 128.1 million Armani euro, falls far compared to 218.7 million euros last year

Istanbul – World Bank have urged increased funding increase lending to poor countries that collapsed due to the global financial crisis.

“When we started into recovery next year we faced some serious obstacles, and we must give way to focus on the countries lowest income,” said World Bank President Robert Zoellick at a news conference, in Istanbul.

Zoellick added that the current number of requests bank financing is estimated to reach USD100 billion in the next three years. The World Bank also estimates that a record of credit loans for middle-income countries and poor countries this year at least $ 40 billion, up from USD33 billion last year.

“It’s tough times for the government because all of their budget increase,” he said. Zoellick made the statement after a meeting of the International Monetary Fund (International Monetary Fund / IMF) consisting of 186 members met at the World Bank meeting in Istanbul, Turkey.

The two multinational financial institutions that have tentatively approved the capital increase for the World Bank in 20 years. Development Committee, which in the meeting became a central strategy for the implementation of antipoverty lender states, the World Bank should be given sufficient resources to handle the crisis to 90 million more people in 2010.

The Committee added that although the global economy can pull away from the worst recession in six decades, the economic risks remained high. Therefore, if the government plans to attract economic stimulus, it must be combined with higher interest rates.

“We do not guarantee if the private sector becomes the major mainstay in the provision of employment will be the cause of unemployment,” he said

Stress due to debt, triggering a worsening mental health. Step anticipation not only do people who owe, but also by the bank.

Financial problems since the first was always lead to depression or stress. Happy to have the income or salary at the end of the month was not worth the feeling of depression in the middle of the month when financial thinning. Every weekend or mid-month, people should turn to find the loan right brain-left just to make ends meet.

Such problems were not only experienced by people living in poor and developing countries with low income levels. Communities in developed countries like the UK are also experiencing the same thing. Worse, depression due to financial crisis is not only the mental damage, but also create physical health conditions become worse.

Based on the results of research by the UK Mental Health Foundation, Mind found nearly three-quarters of depressed because of the financial crisis at the weekend. Mind Foundation CEO Paul Farmer says, people who have mental health problems admitted depression due to lack of finances owned.

For the purposes of research, Foundation for Mind involving 1800 respondents. Found half of respondents still run their lives without adequate food availability due to anxiety related to money. In addition, 91 percent of respondents said the debt had made their health worse.

Mental problems worsened by the heavy debt was more than tripled bad-minded people who do not have debt. Two-thirds of respondents claimed to not have the ability to tell their mental problems are the banks. However, for the respondents who told this to the bank, just 83 percent of them admitted having mental violence of the financial institutions.

In fact, the current global population is facing the threat of rising food prices and fuel oil (BBM). Thus, cases of stress or depression due to the financial crisis will increase. “People who live with mental health problems in particular to vulnerable trapped in debt and poverty cycle,” he said.

According to the Mind Foundation, also encouraged debt debtors lack of efforts to reduce the burden of the debtor. In addition, for those who have low incomes, only able to obtain credit from lenders who set loan rates very high.

“This is a worrying trend. Community will face a mountain of debt that was powerless to restore,” he said.

Mind Foundation urged the bank or other credit institutions in order not to aggravate the mental state of society and help find a solution soon. Because, in reality, not a bank employee and health practitioners can not diagnose mental state of people who owe.

Half of those surveyed stated Mind Foundation, they contacted the bailiff or debt collector. In fact, some of whom admitted terrorized his belongings would be confiscated in lieu of payment or threatened to be sent to prison. Intimidation has resulted in depressed levels of debtors become more acute.

“Change credit practices such as bleaching debt may be very helpful. Especially when people who are unable to manage finances well,” he explained.

In addition, Paul said, banks are also obliged to provide training on mental health knowledge of staff and employees. This will greatly assist the debtor in order not to experience mental health problems are exaggerated.

However, exposure of Mind Foundation research is directly contradicted the British Banking Association (BBA). BBA spokeswoman said, the training of mental health was applied to all bank employees. So there is no evidence the bank had no concern about the mental health of its customers.

“Usually the customers who are having financial problems were not as open to the bank. They tend to keep it a secret and never let the banks know their problems,” he explained.

Spokesperson for the British Liberal Democratic Party, Susan Kramer said mental health problems will be challenges in financial management.

Kramer also agreed that the bank must provide training to staff and employees about mental health issues. In addition, employees who are experts in the mental health field must have the ability to give advice and input to the bank about how to deal with creditors who have mental problems.