Cyprus Depositor Bail-In Set At 47.5%
According to the latest news from Reuters, the government of Cyprus, the Bank of Cyprus and international lenders have come to an agreement that will recapitalize the bank and allow it to remain solvent: all depositors at the bank will have 47.5% of all funds above the deposit insurance threshold of $100,000 seized to pay for the bank's bad debts.....
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The leaders of the worlds' governments are beginning to leave the G20 Summit. Among the meetings, spells, rituals and virgin sacrifices there was one particularly vile agenda item. TLAC - Total Loss Absorbency Capacity. Remember when those banks failed? Well, apparently they've figured out that it's really hard work to maneuver politically. Not only are politicians expensive, it's bad publicity man. Back in 2009 the G20 was hosted in Pittsburgh, Pennsylvania. The Financial Stability Board (FSB) was asked to develop a plan for ending "Too Big to Fail" banking. Don't get excited, there isn't....
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Mark Karpeles, CEO of now-defunct bitcoin exchange Mt Gox has been released on bail from a detention house in Tokyo, according to a local report. A news report by local Japanese media outlet news24 has revealed that Mt Gox CEO Mark Karpeles paid ¥10 million (approximately $95k) to be released on bail from a Tokyo detention house. Karpeles has been granted bail with the condition that he prohibited from leaving Japan. This developing story will be updated.
The Bail Project, Chicago Community Bond Fund and Nashville Community Bail Fund take cryptocurrency donations not just in BTC, but also ETH and even BAT.