Bail-Ins Become Statutory
The provision for bank bail-ins in the Dodd-Frank Act was largely mirrored after the cross-border framework and requirements set forth in Basel III International Reforms 2 for the banking system of the European Union. It creates statutory bail-ins, giving the Federal Reserve, the FDIC and the Securities and Exchange Commission (SEC) the authority to place bank holding companies and large non-bank holding companies in receivership under federal control. Since the principal objective of the provision is to protect the American taxpayers, banks that are too big to fail will no longer be bailed out by taxpayer dollars. Instead, they will be 'bailed in.'
Europe Experiments With Bail-Ins
Bank bail-ins have been used in Cyprus, which has been experiencing high debt and possible bank failures. The bail-in policy was instituted, forcing depositors with more than 100,000 euros to write off a portion of their holdings. Although the action prevented bank failures, it has led to unease among the financial markets in Europe over the possibility that these bail-ins may become more widespread. Investors are concerned that the increased risk to bondholders will drive yields higher and discourage bank deposits. With the banking systems in many European countries distressed by low or negative interest rates, more bank bail-ins are a strong possibility.
2012–13 Cypriot financial crisis
The 2012–2013 Cypriot financial crisis was an economic crisis in the Republic of Cyprus that involved the exposure of Cypriot banks to overleveraged local property companies, the Greek government-debt crisis, the downgrading of the Cypriot government's bond credit rating to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the international markets and the reluctance of the government to restructure the troubled Cypriot financial sector.
On 25 March 2013, a €10 billion international bailout by the Eurogroup, European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) was announced, in return for Cyprus agreeing to close the country's second-largest bank, the Cyprus Popular Bank (also known as Laiki Bank), imposing a one-time bank deposit levy on all uninsured deposits there, and possibly around 48% of uninsured deposits in the Bank of Cyprus (the island's largest commercial bank). A minority proportion of it held by citizens of other countries (many of whom from Russia), who preferred Cypriot banks because of their higher interest on bank account deposits, relatively low corporate tax, and easier access to the rest of the European banking sector. This resulted in numerous insinuations by US and European media, which presented Cyprus as a 'tax haven' and suggested that the prospective bailout loans were meant for saving the accounts of Russian depositors. No insured deposit of €100,000 or less would be affected.
Nearly one-third of Rossiya Bank's cash ($1 billion) was frozen in Cypriot accounts during this crisis.
On 25 March 2013, a €10 billion international bailout by the Eurogroup, European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) was announced,
Mon, 25 March 2013 = 14th of Nisan, 5773
י״ד בְּנִיסָן תשע״ג
Nisan is the 1st or 7th month
14th of Nisan, 5773 was the 14th day of the religious year.
Mon, 25 March 2013 = 14th of Nisan, 5773
Jesus was crucified on the 14th or Nisan
The 1987th anniversary of Jesus death is 4/8/2020 and Pesach
Wed, 8 April 2020 = 14th of Nisan, 5780
י״ד בְּנִיסָן תש״פ
"י״ד בְּנִיסָן תש״פ" = 39 (Hebrew Reduction) (date)
"Pope dead" = 39 (Full Reduction)
"Pope dead" = 33 (Reverse Full Reduction)
33 days after asking for prayers...
3/1 to 4/3 = 33
Oh wouldn't it be such a high drama show if the Pope died on Jesus's death date?
The sick Pope asked people to pray for him today 33 days before the 1987th anniversary of the death of Jesus on 4/3/2020
The anniversary of the death of Jesus on OUR calendar is 4/3
The anniversary of the death of Jesus on the Hebrew calendar is 4/8
Pope Francis asked people to pray for him on 3/1/2020
Jesus death date wrote out..#3539 #3313 #495
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