real estate – Save Western OH http://savewesternoh.org/ Fri, 11 Mar 2022 09:11:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://savewesternoh.org/wp-content/uploads/2021/08/cropped-icon-32x32.png real estate – Save Western OH http://savewesternoh.org/ 32 32 The number of women in C-Suite Finance jobs is growing – but the view from below is less rosy https://savewesternoh.org/the-number-of-women-in-c-suite-finance-jobs-is-growing-but-the-view-from-below-is-less-rosy/ Tue, 08 Mar 2022 12:40:42 +0000 https://savewesternoh.org/the-number-of-women-in-c-suite-finance-jobs-is-growing-but-the-view-from-below-is-less-rosy/ The job prospects for women in finance over the next decade look promising to some, but far more uncertain to others. The share of women in leadership positions in the North American financial services industry is expected to increase from 21.1% to 28.3% from 2021 to 2030, according to a new Deloitte report that studied […]]]>

The job prospects for women in finance over the next decade look promising to some, but far more uncertain to others.

The share of women in leadership positions in the North American financial services industry is expected to increase from 21.1% to 28.3% from 2021 to 2030, according to a new Deloitte report that studied the percentage of women in various categories employment in the industry from 1998 to 2021. However, the figures for categories below the C-suite level are less encouraging: the percentage of women in leadership positions (c. generation” (i.e. all the others) could see a decline of 90 basis points.

Patty Danielecki, senior director and chief of staff at the Deloitte Center for Financial Services, said II that recent declines in non-C-suite levels stem from the fact that during the pandemic, fewer women chose to pursue careers in finance. “Now is the time to act,” she said, “because what we do now will influence what happens in the next decade.”

The lack of gender equity is particularly pronounced in the alternatives industry. According to the latest Preqin report, only 13% of leadership positions in alternative investing are held by women. This compares to 24% of such positions in the entire financial services industry.

In private equity firms, women make up one-fifth of the total workforce but only make up 14% of management positions. Similarly, only 10% of hedge fund portfolio managers and 19% of real estate fund managers are women, according to the Preqin report.

“Until women are better represented at the highest levels of the alternatives industry, progress will be slow,” said Jaclyn Bouchard, head of ESG solutions and corporate responsibility at Preqin. In fact, in the asset management industry as a whole, women are more likely than their male colleagues to leave their employer. According to the Citywire Alpha Female Report 2021, the turnover rate for female fund managers is 44%, compared to 31% for males.

Progress in gender equity also varies from region to region. For example, while the proportion of women employed in private equity firms has increased over the past three years in North America, Europe and Asia, the same figure has decreased by 60 basis points between 2020 and 2021. in other parts of the world, according to Préquin.

In Oceania, women are expected to hold 34% of leadership positions in the financial services sector by 2030, up from 25.2% in 2021, according to Deloitte. Elsewhere, progress is likely to be more muted: in Asia and Africa, the share of C-suite women will remain largely the same, while in South America the number is expected to fall from 11.6% to 7.7% .

“These geographic differences must be considered in the context of the economic, socio-cultural and regulatory environment,” said Orsolya Gal, senior investment analyst at BNP Paribas Asset Management. She added that larger-cap companies, which have a greater presence in developed regions, “tend to integrate diversity issues more easily than smaller companies.”

There are many strategies designed to increase the percentage of women in the financial services industry, including implementing comprehensive diversity, equity and inclusion programs. But DEI programs alone “will not be effective in attracting more women into leadership positions until they are tied to higher pay,” said Sloan Klein, career coach for industry executives. investment management and financial services.

Bouchard agrees, but says companies also need to incorporate other strategies, such as “casting a wider net when recruiting women into junior roles, developing metrics to track progress, and adding diversity metrics.” of gender in due diligence procedures”.

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Third wave curbs asset growth of housing finance companies by 200 basis points https://savewesternoh.org/third-wave-curbs-asset-growth-of-housing-finance-companies-by-200-basis-points/ Tue, 18 Jan 2022 08:00:00 +0000 https://savewesternoh.org/third-wave-curbs-asset-growth-of-housing-finance-companies-by-200-basis-points/ The third wave of the pandemic could shave 100 to 200 basis points (bps) off growth in housing finance companies (HFCs) assets, Crisil said in a report. “The third wave of the COVID-19 pandemic could reduce up to 200 basis points… [the] base case estimate of 9-11% compound annual growth rate (CAGR) of assets under […]]]>

The third wave of the pandemic could shave 100 to 200 basis points (bps) off growth in housing finance companies (HFCs) assets, Crisil said in a report.

“The third wave of the COVID-19 pandemic could reduce up to 200 basis points… [the] base case estimate of 9-11% compound annual growth rate (CAGR) of assets under management (AUM) of HFCs for fiscal years 2022 and 2023,” the rating agency said in the report.

He said growth would be even higher compared to the 2% average in fiscal years 2020 and 2021, although slower than the broad-based 24% recorded between fiscal years 2011 and 2019. This period had seen a nearly increase in the number of HFCs fueled by equity and debt capital availability.

“The growth this time around will largely come from players with better credit profiles,” Crisil said. “Organic consolidation, which began in fiscal 2019, will continue,” he added.

Of the total HFC AUM of Rs 13.2 lakh crore as of March 31, 2021, home loans constituted the largest segment (71%), followed by wholesale loans (18%) and loans against property (LAP; 11 %).

Krishnan Sitaraman, Senior Director and Deputy Head of Ratings, Crisil Ratings, said: “Real estate lending will be the fastest growing segment as lenders continue to be selective in the non-real estate segment (including wholesale lending and LAP).

“After relatively weak growth in recent years, the home loan segment is expected to register a CAGR of 12-14% in fiscal 2022 and 2023. This will be driven by improving sales, better affordability and a preference for lending. home ownership and larger homes. he said.

“That said, the third wave of the pandemic could reduce this growth by 100 to 200 basis points depending on its spread, intensity and duration,” he added.

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Getting to Know: A Q&A with Ripon’s New CFO/Deputy City Administrator | News https://savewesternoh.org/getting-to-know-a-qa-with-ripons-new-cfo-deputy-city-administrator-news/ Wed, 29 Dec 2021 08:00:00 +0000 https://savewesternoh.org/getting-to-know-a-qa-with-ripons-new-cfo-deputy-city-administrator-news/ The City of Ripon has appointed a new Chief Financial Officer/Deputy City Administrator. Amanda Toney On December 14, the Common Council approved the appointment of Amanda Toney to this position. Prior to being appointed as the new CFO, Toney served as Treasurer/Real Estate Lister for Green Lake County. According to her LinkedIn profile, she has […]]]>

The City of Ripon has appointed a new Chief Financial Officer/Deputy City Administrator.






Amanda Toney


On December 14, the Common Council approved the appointment of Amanda Toney to this position.

Prior to being appointed as the new CFO, Toney served as Treasurer/Real Estate Lister for Green Lake County.

According to her LinkedIn profile, she has been treasurer of Green Lake County since 2017 and treasurer of the city of Brooklyn since 2012.

Toney was also a finalist for a city administrator position in Omro.

The city of Ripon had eight to nine qualified candidates, but only four candidates, including Toney, were interviewed, according to city administrator Adam Sonntag.

the Commonwealth caught up with Toney to learn more about what attracted her to the position and her goals serving the City of Ripon.

Here is the conversation:

Q. What attracted you to the position of CFO/Deputy City Administrator of Ripon?

A. This position has interested me for some time. The responsibilities of this position are things that interest me and that I enjoy doing. I enjoy doing everyday tasks, but I also thrive when involved in new challenges.

Q. What was the interview process like?

A. Similar to any other interview process. I spoke with Adam Sonntag first before submitting my resume to make sure the position was still open.

After speaking with him, I sent him my CV. I then called for an interview with Adam, the mayor and town clerk, which lasted about an hour.

After that, I heard from Adam that they would like to continue contacting my references. After talking to all my references, I was offered the job. I thought about the offer over the weekend before accepting.

Q. What do you expect from this position?

A. Being able to put my skills that I learned in the county to use at another level of government. I love the path Ripon is heading and am thrilled to be a part of it.

Q. Could you describe your role as Green Lake County Treasurer and how it will impact your work for the City of Ripon?

A. As County Treasurer, one of my primary statutory responsibilities is to receive and disburse all county funds. I am also responsible for all county investments, disbursement of levy dollars, and management of sales tax dollars, to name a few. I think these qualities will serve me well in my new role as CFO.

Q. What attracted you to working in local government?

A. I grew up in local government and really benefited from it. My mother started as county treasurer when I was 5 years old.

Thanks to her, I was able to get a first-hand look at how local government works.

I then started as Treasurer for the City of Brooklyn in 2012 and really enjoy seeing how all of the government entities work together. The more I am involved in local government, the more I like it.

Q. How is working in government rewarding?

A. Honestly, I’ve always enjoyed helping the public and I find it very rewarding. For example, when I can help someone understand how their tax bill is calculated and what numbers make up their tax amount, I really like that.

Explaining a process that has many layers in it in a way that makes the audience feel more educated gives me great joy.

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RBI Boosts Vigilance With Four-Tier Regulatory Framework For NBFC, Real Estate News, ET RealEstate https://savewesternoh.org/rbi-boosts-vigilance-with-four-tier-regulatory-framework-for-nbfc-real-estate-news-et-realestate/ https://savewesternoh.org/rbi-boosts-vigilance-with-four-tier-regulatory-framework-for-nbfc-real-estate-news-et-realestate/#respond Sat, 23 Oct 2021 04:03:00 +0000 https://savewesternoh.org/rbi-boosts-vigilance-with-four-tier-regulatory-framework-for-nbfc-real-estate-news-et-realestate/ [ad_1] MUMBAI: The Reserve Bank of India (RBI) will put in place a four-tier regulatory structure for non-bank financial corporations to more closely monitor shadow banking and minimize risks to the entire financial system. The detailed set of standards, which will come into effect from October 2022, provide for a scale-based regulatory framework (SBR) that […]]]>


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MUMBAI: The Reserve Bank of India (RBI) will put in place a four-tier regulatory structure for non-bank financial corporations to more closely monitor shadow banking and minimize risks to the entire financial system.

The detailed set of standards, which will come into effect from October 2022, provide for a scale-based regulatory framework (SBR) that takes into account capital requirements, governance standards, prudential regulation and other aspects of non-bank financial corporations (NBFC). .

The central bank’s latest move, after extensive consultations with stakeholders, also comes against the backdrop of past events, including the collapse of IL & FS in 2018 and later DHFL, which had an impact on training on the entire financial system, particularly in terms of liquidity problems. Since then, the focus has shifted to more stringent regulations rather than a light approach for the country’s shadow banking sector.

Unveiling the four-tier framework, RBI said on Friday that over the years, the NBFC industry has undergone tremendous evolution in terms of size, complexity and interconnection within the financial sector.

Many entities have grown and become systemically important, and there is therefore a need to align the regulatory framework of NBFCs taking into account the evolution of their risk profile, he said in a statement.

To begin with, the central bank will publish an integrated regulatory framework for NBFCs, offering a holistic view of the structure of the SBR, a set of new regulations being introduced and the respective timelines.

NBFCs will be divided into four layers: the base layer (BL), the middle layer (ML), the top layer (UL) and the top layer (TL).

The base layer will include NBFCs currently classified as Non-Systemically Important NBFC (NBFC-non-deposits), in addition to Type I NBFCs, non-operational financial holding, NBFC-P2P (Peer to Peer Lending Platform). ) and NBFC-AA (Account aggregator). The asset size threshold for this layer will be less than Rs 1,000 crore.

Currently, the systemic importance threshold is Rs 500 crore.

The middle layer will include all deposit-free NBFCs currently classified as NBFC-ND-SI (company without deposit – systematically large) with an asset size greater than Rs 1,000 crore and all NBFCs accepting deposits, regardless of their size. .

The upper layer will include NBFCs which are specifically identified by the Reserve Bank as warranting an enhanced regulatory requirement based on a set of parameters.

The top ten eligible NBFCs in terms of asset size will always reside in the top layer, regardless of any other factor, RBI said.

“The top layer will ideally remain empty. This layer can be populated if the Reserve Bank is of the opinion that there is a substantial increase in the potential systemic risk of specific NBFCs in the top layer. These NBFCs should move to the top layer. of the top layer, ”he noted.

The regulatory minimum net fund (NOF) for NBFC-Investment and Credit Companies (ICC), NBFC Micro Finance Institution (MFI) and NBFC-Factors would be increased to Rs 10 crore and a trajectory has been drawn to meet this requirement.

However, for NBFC-P2P, NBFC-AA and NBFC without public funds and without client interface, the NOF will continue to be Rs 2 crore.

The current NPA classification standard has been replaced by the over 90 day delay period for all NBFC categories. A descent path is provided to NBFCs in the base layer to adhere to the 90-day NPA standard, the statement said.

In order to improve the quality of regulatory capital, RBI said that NBFC-UL would maintain basic Tier 1 capital of at least 9% of risk-weighted assets, while it would be required to hold a differential provisioning for different categories of standard assets.

In addition to CRAR, NBFC-UL will also be subject to a financial leverage requirement to ensure that its growth is supported by adequate capital, among other factors. An appropriate leverage limit will be prescribed for these entities at a later date as necessary.

According to RBI, housing finance companies would continue to follow specific regulations on exposure to sensitive sectors, as they currently apply.

There will be a ceiling of Rs 1 crore per borrower for the financing of the subscription to the initial public offering (IPO). NBFCs can set more conservative limits, RBI said.

In addition, the central bank has set a significant exposure limit for all counterparties and groups of related counterparties as well as for capital market and commercial real estate.

To strengthen corporate governance, he suggested including independent directors on the board, among other requirements.

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Banks and finance companies will offer attractive interest rates on home loans and other financial loans https://savewesternoh.org/banks-and-finance-companies-will-offer-attractive-interest-rates-on-home-loans-and-other-financial-loans/ https://savewesternoh.org/banks-and-finance-companies-will-offer-attractive-interest-rates-on-home-loans-and-other-financial-loans/#respond Wed, 06 Oct 2021 09:37:00 +0000 https://savewesternoh.org/banks-and-finance-companies-will-offer-attractive-interest-rates-on-home-loans-and-other-financial-loans/ [ad_1] New Delhi [India], October 6 (ANI / ATK): To ease your home loan journey, banking and finance companies have started offering attractive interest rates on home loans in India. Companies offer home loans to help individuals buy new home or to ease their financial burden. Across the country, people can opt for these services […]]]>


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New Delhi [India], October 6 (ANI / ATK): To ease your home loan journey, banking and finance companies have started offering attractive interest rates on home loans in India.

Companies offer home loans to help individuals buy new home or to ease their financial burden.

Across the country, people can opt for these services to manage their finances and obtain greater benefits. With easy monthly payments and the ability to choose the repayment term as per your convenience, banks help make your dream of buying a home come true.

Point must be taken into account for a mortgage1. Simple process: Choose a finance company that offers a straightforward documentation process. For the approval of home loans, you will only need minimum documents including KYC or proof of income.

2. Flexible repayment term: Don’t let the term “home loan” mislead you. It offers you to repay the advances over the long term. With the help of EMI Calculator, you can choose the duration according to your repayment capacity.

3. Pradhan Mantri Awas Yojana (PMAY): This4. Effortless Refinancing: It offers ease of home loan transfer. This facility allows you to refinance your existing home loan at a reduced interest rate.

5. High value complementary loan: beyond the value of the loan, there is a balance transfer facility. It is accompanied by an additional loan facility. You can avail up to Rs50 lakes which can be used to meet other financing needs.

Additional Facilities Offered By Home Loan Providers Other services offered to meet your housing needs are listed below: 1. Real Estate File Services: Legal and financial aspects of home ownership are covered. by the real estate file service. It is personalized according to your own needs.

2. Personalized insurance plan: In the event of the unforeseen, it offers an insurance plan to protect your family from repayment of the mortgage.

3. Easy access to account management: The online customer portal, Experia, offers account management at your fingertips.

This story is provided by ATK. ANI will not be responsible for the content of this article in any way. (ANI / ATK)

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Saffron appoints CFO of development https://savewesternoh.org/saffron-appoints-cfo-of-development/ https://savewesternoh.org/saffron-appoints-cfo-of-development/#respond Tue, 07 Sep 2021 08:40:25 +0000 https://savewesternoh.org/saffron-appoints-cfo-of-development/ [ad_1] “I also join existing relationships with brokers in this area, so I intend to rekindle those relationships in my new role” Saffron Building Society has beefed up its development finance team with a new hire, Matt Hardy. Matt is joining us as CFO of Development and will help improve Saffron’s offering and relationships with […]]]>


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“I also join existing relationships with brokers in this area, so I intend to rekindle those relationships in my new role”

Saffron Building Society has beefed up its development finance team with a new hire, Matt Hardy.

Matt is joining us as CFO of Development and will help improve Saffron’s offering and relationships with new real estate development clients and brokers.

Matt said: “I am delighted to join Saffron at such an important time in the industry. I have spent the last few years developing relationships in this area, and I am delighted to work with Peter Owen, who leads the team, and to learn from his vast experience. I also join existing relationships with brokers in this area, so I intend to rekindle those relationships in my new role and hopefully find them the best possible solutions for their clients. I can not wait to be there.

Peter Owen added: “I am really looking forward to working with Matt as he begins his career at Saffron. The unprecedented year and the ripple effects it has had in the real estate market has provided developers with great opportunities that will remain for years to come. Matt’s experience and relationship with brokers in this area will be invaluable in helping us respond to inquiries quickly and efficiently and ensuring that we are able to provide the quality service we pride ourselves on as this field continues to grow.

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Tech and Financial Firms Consider Wynwood as Miami Raises Tech Hub Status https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/ https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/#respond Mon, 23 Aug 2021 07:00:00 +0000 https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/ [ad_1] Miami’s Wynwood Art District is known for its street art and as a hub for creatives, but with more tech and financial companies finding offices there, recent transactions have positioned the neighborhood as the point central to the city’s growing status as a technological hub. That’s according to DWNTWN Realty Advisors senior directors Tony […]]]>


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Miami’s Wynwood Art District is known for its street art and as a hub for creatives, but with more tech and financial companies finding offices there, recent transactions have positioned the neighborhood as the point central to the city’s growing status as a technological hub.

That’s according to DWNTWN Realty Advisors senior directors Tony Arellano and Devlin Marinoff, who have more than $ 100 million in transactions pending at Wynwood. DWNTWN Realty Advisors is a commercial real estate brokerage company in Miami. The company claims to have been involved in more than $ 350 million in development investment and sales at Wynwood in recent years.

Managing Director and Co-Founder of DWNTWN Realty Advisor Devlin Marinoff. Courtesy photo

Wynwood is “without question the hottest submarket in the country,” Marinoff said.

Due to a changing population and businesses keen to attract a better talent pool, Wynwood has emerged as the next hot submarket amid the pandemic, Marinoff said. For tech and financial companies, Wynwood’s ability to walk in relation to other neighborhoods and culture is what draws them to the area.

“It has the newest, most creative office product that some of these companies are looking to attract, and a certain type of worker appreciates it. Your neighborhood cafe, your bustling restaurant scene, the happy hour scene – it kind of hits all cylinders when it comes to ambiance and amenities, ”Arellano said.

Big companies like Live Nation, Spotify and Atomic now have offices in Wynwood. Arellano said that when Founders Fund, a venture capital firm led by PayPal founder Peter Thiel, moved its offices to Wynwood, others began to follow suit.

Tony Arellano, Managing Director and Co-Founder of DWNTWN Realty Advisor in Miami.  Courtesy photo Tony Arellano, Managing Director and Co-Founder of DWNTWN Realty Advisor in Miami. Courtesy photo.

“It sends an important message to the tech community. Wynwood, and Miami in general, are now described as the “capital of the capital” and once Founders Fund signed on, it was as if the market decided where it wanted to locate. It was the most important thing: to sell a market that had no fundamentals for companies at that level, at that time. Now that it’s been accepted we’ve now passed the test, and it’s kind of built into our fabric, ”said Arellano.

While they can’t yet announce upcoming companies, Arellano and Marinoff have said that in six to eight months, Wynwood will be a game-changer.

“The pandemic has sped up people’s thinking about where they want to live and companies have realized that they don’t have to be in financial places to run a business at a very high level. By giving their employees a better city to live in, they could get better talent and maybe even lower their occupancy costs, ”said Arellano.

Many tech and financial companies come from the Northeast and California. The number of non-market businesses is increasing by around 10%, Arellano said, but the majority of businesses coming to Wynwood are local businesses that have decided to relocate. Arellano believes the neighborhood will experience long-term growth as a result.

“Wynwood is always a neighborhood of little magnets – where a project is developed and then an entire block lights up,” Arellano said.

From law firms to retail businesses moving away from malls, Wynwood is a solid investment for businesses in all industries, Arellano and Marinoff said.

“Leasing is very solid. He hits all the cylinders. It is currently the best investment in any submarket in the country. Hands down, ”Marinoff said.

Read more:

South Florida tech scene is ‘here to stay’ as Uber joins group of companies that acquire office space

After pandemic-fueled exodus in 2020, people are returning to urban apartments

Surfside changed everything: sea level rise in the spotlight after fatal condo collapse

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Deepak Parekh, President, HDFC, Real Estate News, ET RealEstate https://savewesternoh.org/deepak-parekh-president-hdfc-real-estate-news-et-realestate/ https://savewesternoh.org/deepak-parekh-president-hdfc-real-estate-news-et-realestate/#respond Thu, 24 Jun 2021 07:00:00 +0000 https://savewesternoh.org/deepak-parekh-president-hdfc-real-estate-news-et-realestate/ [ad_1] NEW DELHI: Calling for smoothing out regulatory wrinkles, HDFC chairman Deepak Parekh raised concerns about the ability of housing finance companies to retain customers, as no prepayment penalties on interest rate loans This variable causes other players to attract borrowers through lower rates and increased loan amounts. . Onboarding a home loan client takes […]]]>


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NEW DELHI: Calling for smoothing out regulatory wrinkles, HDFC chairman Deepak Parekh raised concerns about the ability of housing finance companies to retain customers, as no prepayment penalties on interest rate loans This variable causes other players to attract borrowers through lower rates and increased loan amounts. .

Onboarding a home loan client takes a lot of effort and also comes with costs, Parekh said in his message to shareholders in the company’s 2020-21 annual report.

Customer retention is a sticky point for HFCs (housing finance companies), he said.

“Lenders are likely to lose their existing customers to other players who often entice them with lower interest rates or higher loan amounts. As there are no prepayment penalties on them. variable rate loans, a lender can repossess a home loan effortlessly, ”he said. .

For sales agents who are not tied agents, it’s a win-win situation as long as they receive twice the commission on the loan from the same borrower, Parekh said.

The president of the country’s largest mortgage lender further said that the loan balance transfer only shifts assets from one actor to another, and does not increase the loan or ownership to the level of the system.

“The problem is that integrating a mortgage customer takes a lot of effort and also comes with costs. . It would be a great comfort to all HFCs if this issue is addressed, ”he said.

The company’s individual loan disbursements performed well in FY21 and the recovery in demand was much faster than HDFC expected in the latter part of the year, he added. .

HDFC recorded 3 percent growth in its individual loan disbursements during the year.

Additionally, in today’s environment where the COVID-19 pandemic has exposed just how fragile life can be, he said there could be no better protection for a borrower than home loan insurance. and home insurance.

Likewise, given the risks associated with climate change and sudden weather events, home insurance becomes a key component of risk mitigation.

He suggested that the insurance loan for a home loan borrower be considered part of a home loan and could be classified accordingly, as it protects both the client and the HFC.

Currently, an insurance loan granted to a borrower is considered a loan other than housing. Also, taking out insurance is voluntary for a mortgage borrower.

Parekh also highlighted the problems that arise from a large amount of cash, saying the current regulatory framework “may have the unintended consequence of penalizing an HFC for maintaining excess cash”.

Larger amounts of cash are held by HFCs as a plentiful precaution.

“But maintaining higher liquidity should certainly not become the hindering factor causing HFCs to recalibrate their real estate and non-real estate portfolios in order to meet the prescribed minimum asset limits in housing finance,” he said. declared.

A minor adjustment that could exclude excess cash balances from total assets to arrive at prescribed limits would greatly help HFCs, he suggested.

In addition, the seasoned banker also called for a level playing field in terms of the same accounting standards.

This regulatory clarity helps minimize potential conflicts, he said, adding that there are often differences in the interpretation of regulations.

Pointing out that non-bank financial companies (NBFCs), including HFCs, follow Indian Accounting Standards (IndAS), which are still not aligned with prudential guidelines, he said this resulted in differences of opinion between the teams. inspection, regulated entities and even auditors.

“Banks and insurance companies haven’t migrated to IndAS, but it’s been three years since the NBFCs did so. While it’s not a level playing field, it may be prudent to at least resolve these issues opened as early as possible, ”Parekh said. noted.

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IT and finance companies are hiring managers in droves https://savewesternoh.org/it-and-finance-companies-are-hiring-managers-in-droves/ Fri, 23 Apr 2021 07:00:00 +0000 https://savewesternoh.org/it-and-finance-companies-are-hiring-managers-in-droves/ The employees work at KSM Solution, a technology company in Tan Binh District, Ho Chi Minh City. Photo courtesy of KSM Solution. Staffing firm Navigos Group said in a note that demand for executives in the textile and apparel industry rose 50-60% year-on-year in the first quarter. Its analysts attributed it to the impact of […]]]>

The employees work at KSM Solution, a technology company in Tan Binh District, Ho Chi Minh City. Photo courtesy of KSM Solution.

Staffing firm Navigos Group said in a note that demand for executives in the textile and apparel industry rose 50-60% year-on-year in the first quarter.

Its analysts attributed it to the impact of free trade agreements, particularly the EU-Vietnam Free Trade Agreement (EVFTA), which increased the number of orders for the sector. The political crisis in Myanmar has also caused an influx of orders to Vietnam, resulting in increased demand for human resources.

But most preferred foreign applicants to locals for mid-level and senior positions, Japanese and Koreans as sales managers, and Chinese, Sri Lankans and Indians as production managers. The reason for this was that candidates had to have professional experience and knowledge of the Southeast Asian market, a requirement that the Vietnamese had difficulty meeting.

IT companies have seen a growth in recruitment demand, especially in the outsourcing and product segments, amid expansion plans.

Financial services companies are in the midst of digital transformation and therefore need a large number of IT staff, and prefer Vietnamese candidates.

Navigos expects demand in the IT sector to increase by 20-25% this year.

Banks have seen strong demand for staff in their priority banking, technology, legal, compliance and bancassurance divisions.

Meanwhile, the huge increase in the number of new investors entering the stock market in the first quarter caused a surge in demand for workers in securities firms.

Overseas Vietnamese candidates specializing in areas such as digital transformation, technology, data and marketing have been preferred by financial institutions.

According to data from Navigos, the highest salaries in the first quarter ranged from VND100 million to VND230 million ($4,300 to $10,000) per month, mainly in the retail and real estate sectors. .

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Egyptian financial regulator, financial firms discuss increasing growth in financing activities https://savewesternoh.org/egyptian-financial-regulator-financial-firms-discuss-increasing-growth-in-financing-activities/ https://savewesternoh.org/egyptian-financial-regulator-financial-firms-discuss-increasing-growth-in-financing-activities/#respond Sun, 28 Mar 2021 07:00:00 +0000 https://savewesternoh.org/egyptian-financial-regulator-financial-firms-discuss-increasing-growth-in-financing-activities/ [ad_1] Eslam Azzam, Vice Chairman of the Financial Regulatory Authority (FRA), met with representatives of financial companies to discuss their proposals for developing a range of financial activities. These include the real estate finance, leasing and factoring, consumer credit markets and increasing their growth rates, in addition to overcoming obstacles to the expansion of these […]]]>


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Eslam Azzam, Vice Chairman of the Financial Regulatory Authority (FRA), met with representatives of financial companies to discuss their proposals for developing a range of financial activities.

These include the real estate finance, leasing and factoring, consumer credit markets and increasing their growth rates, in addition to overcoming obstacles to the expansion of these markets. .

The meeting took place in the presence of members of the advisory committees and representatives of the federations for each activity.

The Egyptian Leasing Union called on FRA to communicate with relevant parties in order to reduce the time required to issue the approvals required for the implementation of agreed projects. These will be financed by leasing companies.

He understands the speed that will facilitate the process of landscaping the land and the projects that will be established there.

Azzam noted that FRA has prepared a guide on all applicable controls and decisions related to leasing and factoring activities.

The meeting reviewed the demands made by real estate finance companies and put forward by the Egyptian Union for Real Estate Finance. This, in turn, was intended to facilitate the access of mortgage finance companies to low-cost sources of finance.

They also expressed their desire to start releasing a new version of the Egyptian Property Valuation Standards and complement the rest of the applications to keep pace with market variables.

Representatives of consumer finance companies and service providers called for a reduction in the cost of the customer’s credit application service.

Azzam expressed interest in the cost of conducting credit investigations and promised that the authority would contact the service provider to discuss the possibility of meeting the cost of activities similar to sister activities.

He also stressed that the authority would communicate with the relevant authorities of the Ministry of Finance to clarify the dependence of consumer credit companies authorized to carry out the activity of FRA. This would be followed by an exemption from value added tax for consumer credit companies.

A total of 31 consumer credit companies have been licensed by the authority so far, despite recent activity. The statutes of the Egyptian Consumer Finance Federation have been prepared and will be presented at the next meeting of the FRA Board of Directors.

It aims to speed up the legal procedures for the formation of a trade union, which will have an important role in the growth of such activity.

Regarding the factoring activity, companies demanded the constitution of investment funds to finance non-bank financial services companies, and the provision of financing at a favorable interest rate through financing initiatives and support for projects and various export sectors.

The factoring companies participating in the meeting welcomed the provision of the service of deduction of deferred financial rights of securities brokerage companies resulting from the exercise of the activity of buying securities on margin for those who do so. make the request.

This is in line with Decision No 25 of 2021, taken by the FRA Board of Directors released earlier this month, with the aim of boosting the trading of securities on the Egyptian Stock Exchange (EGX).



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