London, England, United Kingdom (AHN) – The Bank of England’s new Financial Policy Committee recommended on Wednesday for British banks to reduce their bonuses and shareholder dividends to strengthen their balance sheets.

The recommendation was made in anticipation of another financial crisis likely to be caused by the worsening eurozone debt contagion. The BoE also warned the banks to prepare for future shocks.

The bank did not specify how much the financial institutions should reduce their discretionary distributions, but in previous reports suggested that by limiting dividend payouts and constraining compensation ratios, the banks could raise up to $15 billion (£10 billion) a year.

The amount could be used to support $75 billion (£50 billion) of new lending to households and businesses. Although the banks cut their bonuses by 8 percent in 2010, the banks still paid out a total of $10.05 billion (£6.7 billion) to executives.

The committee also recommended cutting staff to address the anticipated strains in financial markets. For banks that have strong earnings, the committee advised them to build capital levels further.

Another impact of a second round of financial crisis is possible tighter credit in the coming months, the Bank of England said in its quarterly credit conditions survey it issued alongside the committee’s report.

The FPC also proposed more measures to improve the banks’ balance sheets, such as setting loan-to-value ratio caps for mortgage borrowers, margin requirements, maximum leverage ratios for banks, variable capital buffers, risk weightings on loans and additional transparent disclosure requirements.

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Unlike other Federal or Private loans, this V.A loans are specially designed for veterans with specific objectives. Therefore, certain rules and criteria have been laid down by the government before granting loans to a person. As information may not be always available for you so contacting a V.A loan specialist would be ideal for you.

1) To qualify one must serve 181 days in the time of peace and normalcy.
2) You have to serve 90 days in time of emergency or disturbance or during war time.
3) You can attain the benefit of V.A loan if you have served 6 years in central Reserve or National Guard.
4) A spouse can attain a V.A loan whose husband or wife has died on time of duty.

There may be other concerns which you should think about before applying V.A loan. V.A loans require you to build your home to live in there as a resident. So, it is their occupancy guideline which you can not breach. However, for your job’s sake you may have to be stationed in other place. But if your spouse stays in your home, this will fulfill the condition of V.A loan.

Income to debt ratio is another import thing that matters while assessing your eligibility for a V.A loan. Unlike other type of home loans, this V.A loan sets higher standard for an applicant. Here the debt to income ratio is very rigorously checked. If you have consistent income and reliable source of steady future income, then only you will be eligible for the loan.

However, all you need to do is to consult with an expert and get the detail from him.

Athens, Greece (AHN) – The Greek government is preparing tougher belt-tightening measures as it attempts to meet the terms of the country’s $110 billion (EUR 78 billion) bailout.

Prime Minister George Papandreou rejected debt restructuring ahead of a Monday cabinet meeting to tackle austerity measures, which includes tax hikes and sale of government assets.

Papandreou’s policy is in line with the European Central Bank stand that did not favor a debt restructuring for Greece. However, the drastic wage cut proposal may lead to more civil unrest among public employees. A study published on Sunday found that 80 percent of Greeks are not willing to make any more sacrifices for the country to enjoy further European Union and International Monetary Fund support for the bailout.

Experts opined that Greece is so mired in a debt spiral that more austerity measures would cause further recession and drastic drops in tax revenues. They warned that these economic consequences are self-reinforcing and very difficult to recover from.

While the prime minister is ready to fast track a $70.4 billion (EUR 50 billion) privatization program to raise more money to pay off the country’s mountain of debt, Papandreou said the government will keep its holdings in water and electricity utilities.

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A borrower can also apply for such loans via internet too. It is the fastest way to get money approved and that too without any hassle.

Payday loans for people with bad credit are actually short term loans that are mainly meant for people whose past credit record is not up to mark. These people had either not paid the installments on time or could not pay off the debt completely due to some reason. Lenders like banks generally avoid such people. Giving them loan is very risky.

These loans generally provide you small amount of loan that may vary as per your financial necessity. You may apply for these advances via internet too. Here you just need to fill a request form available on the website of the lenders. Once all your details are checked and verified, loan amount will be transferred to your account.

These loans are highly supportive to the people who are not getting loan from anywhere else and are in urgent need of money. Though the interest charged here is slightly higher than bank loans. But this is due to the extra risk the lender is bearing in giving you loan without much credit checks. Overall, this is a very good option to borrow money in the hour of need.

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Cash loans for people with bad credit are the perfect answer to all your queries. These loans are actually short term loans that are given to people who are in urgent need of money. Loan money is given without any credit checks. It makes it easier for people with poor credit profile to apply for loan and get money. With the help of this loan, they can easily meet their short term needs and can improve their credit worthiness.

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