HALISTER: Munich Re Quarterly Profit Falls on Claims, Raises Dividend

Munich Re Quarterly Profit Falls on Claims, Raises Dividend

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
MUV2 GR (Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen)

People
Joachim Wenning (Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen)
Joerg Schneider (Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen)
Nikolaus Bomhard (Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen)

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UUID: 7947283

HALISTER1: Philippine Central Bank Issues Virtual Currency Exchange Rules

Philippine Central Bank Issues Virtual Currency Exchange Rules

(Bloomberg) -- Virtual currency-based exchanges where digital money like Bitcoin are exchanged for fiat money are classified as remittance and transfer companies, Bangko Sentral ng Pilipinas says in statement Tuesday.
  • Virtual currency exchanges must comply with capital requirements, internal controls, regulatory reports, and anti-money laundering rules required for remittance companies
  • Exchanges required to execute deed of undertaking to implement consumer-protection standards
  • Violations will result in cancellation of registration, penalties; banks are prohibited from dealing with unregistered virtual currency exchanges
  • BSP estimates digital money payment and remittance transactions reach as much as $6m for certain major players
  • NOTE: Philippines Mulling Bitcoin Regulation as Remittance Use Surges Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

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UUID: 7947283

HALISTER: BNP Paribas 4Q Net EU1.44B; Est. EU1.63B

BNP Paribas 4Q Net EU1.44B; Est. EU1.63B

(Bloomberg) -- Co. targets more than 9% average annual growth in dividend per share until 2020.
  • French retail 4Q pretax profit EU177M, down 36%
  • Fixed-income 4Q trading revenue rose 23% to EU838M
  • Equities and prime brokerage 4Q revenue rose 20% to EU446M
  • BNP books EU127M goodwill writedown at Polish unit
  • BNP books about EU130M restructuring costs at Belgian, Italian units
  • BNP targets 10% ROE, 12% CET1 ratio for 2020
  • Bank targets increase of more than 6.5% annual average in net income until 2020
  • Bank targets at least 2.5% annual average revenue growth through 2020
  • Bank aims for EU2.7B recurrent annual savings from 2020.
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BNP FP (BNP Paribas SA)
FHB US (First Hawaiian Inc)

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UUID: 7947283

HALISTER1: RBA Leaves Key Rate at 1.5% as Seen by 27 of 28 Economists

RBA Leaves Key Rate at 1.5% as Seen by 27 of 28 Economists

(Bloomberg) -- Central bank leaves interest rates unchanged as upswing in global commodity prices eases impact of slower economic growth.
  • Prices of Australia’s two biggest exports, iron ore and coal, have strengthened in past year, lifting nation’s terms of trade
  • House prices continue to rise in Sydney; RBA Governor Philip Lowe is loath to add further fuel to market through lower rates
  • Unemployment remains below 6%, even though much of the recent hiring has been for part-time positions
  • Inflation is still below the central bank’s 2%-3% target; Aussie dollar climbed more than 5% in January, reflecting higher commodity prices though likely compressing import prices
  • NOTE: Since taking the helm in September, Lowe has stressed the flexibility of the RBA’s inflation target and voiced concern further easing could start to pose a risk to financial stability
  • NOTE: RBA cut rates in May and August in response to weak quarterly inflation
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
40005Z AU (Reserve Bank of Australia)

People
Philip Lowe (Reserve Bank of Australia)

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UUID: 7947283