| UPDATE: Worsening Credit Crunch Pressures British, U.S. Banks
SAN FRANCISCO (Dow Jones) -- The subprime crisis wreaking havoc among global banks and brokerages could turn a harsh spotlight on two U.K. banking giants this week, while a group of major U.S. banks will propose a fund aimed at adding stability to the credit markets, according to reports Sunday. In the U.K., HSBC Holdings Plc (HBC) and Barclays Plc (BCS) , like other financial institutions, have been grappling with their exposure to shaky mortgage loans. Already, companies including Merrill Lynch & Co. Inc. (MER) and Morgan Stanley (MS) have written-down the value of billions of dollars worth of dodgy borrowing, and the crunch is likely to test the balance sheets and capital strength of other creditors before conditions improve, analysts say. "This credit crisis is unlike anything we've ever had before," said Bernard Baumohl, managing director of New Jersey-based forecaster The Economic Outlook Group.
Roth 401(k) plans can ease tax load
For years, traditional 401(k) plans have helped people build a nest egg by funding a retirement account with pre-tax dollars. But a potential crack in the egg was having to pay taxes on account withdrawals. Now Americans can invest in a Roth version of a 401(k) that allows them to withdraw the money tax-free as a result of making contributions with post-tax dollars. .
Regulatory, security concerns drive Enterprise IdM market
BANGALORE, INDIA: The Identity and Access Management (IdM) market is one of the fastest growing, as indicated by industry analysts such as IDC, Gartner, Radicati Group, Burton Group, etc. According to the Radicati Group, the IdM market, with all of its segments, will grow to over $8.5 billion by 2008. In Asia Pac, the Identity Access Management market is likely to reach $573.7 million by the end of 2012 from $160.7 million in 2005. Identity and Access Management, as Frost and Sullivan defines it, is: "The process of managing authentication, access rights, privileges and administration of digital users." It is the process where all the different elements or technologies that make up the solution play a key role in the successful management of digital users or identities. An Identity Access Management solution besides, securing the enterprises, also enables them to adhere to regulations, bring in accountability and auditability.
Polish banking climate index down 5 points in November
WARSAW (Thomson Financial) - Poland's Pengab index of sentiment in the banking sector fell by 5.2 points in November to 33.0 points, the second sharp fall in as many months, polling agency Pentor said today. The index shows the percentage point difference between banks' positive and negative assessments of the sector's health. The agency's banking sector survey, conducted together with the Polish Banks Association, also showed banks believe inflation should hit 3.05 pct at the end of 2007 and the zloty 3.67 per euro and 2.56 per dollar. patrick.graham@thomson.com *48 22 447 2430 pjg/ajb COPYRIGHT Copyright Thomson Financial News Limited 2007.
Mobile banking makes a return
Get ready for the latest must-have ability you didn't know you needed. After several years of failed spurts and starts in the United States, mobile banking — the ability to perform basic banking services from your cellphone — is about to make its debut . . . again. But this time, proponents, who insist they've learned from previous efforts, say it will stick. .
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