Financial Safety Advice

Ecuadorian financial institutions the liquidity fund established financial system of this country with an initial amount of U.S. $ 153mn, according to the Presidency in a statement.

The Central Bank of Ecuador will administer the trust and control will be in the hands of the banking and insurance regulator of the country, SBS, said the report.

Eight financial institutions, Banco de Loja, ProCredit Bank, Banco Solidario, Rumiñahui Bank, Citibank, Promérica, Banco del Pichincha Pacific Mutual-provided resources to fund liquidity. Others will join the initiative in the coming days.

The fund will provide loans to financial institutions that require cover deficits in the clearing houses and also provide financing for up to 120 days to financial institutions facing temporary liquidity problems.

The law establishing a financial safety net, promulgated in the Official Journal on 31 December last year, introduced the liquidity fund the country’s financial system.

Apparently this is one of the most important laws of the modern history of the United States. Since the financial bubble burst the north country was not experiencing one of the worst crises in its history, sparking a massive bailout of the States on business and banks and a severe adjustment and damage to U.S. citizens themselves.

After approval, the president Barack Obama finally passed the Financial Reform Act which will aim to have a greater control over the financial system. At the outbreak of crisis, big companies and banks exposed to the real situation of their economies.

In the absence of the State, several companies and most of the banks would have gone bankrupt, so it must implement a massive bailout of the sector. However, who is not saved and were the most affected were-and are-Americans themselves. For some analysts, the law will help to face a new crisis is the financial sector itself which is liable. For others, it is a law that will not cost effective to protect an entire country in a bubble.

Anyway, Obama got a great political achievement. It remains to restore economic growth.

Your financial security is not my financial security. The “women’s feelings about financial security seem to contribute to your satisfaction as much as they do their income, and, somewhat independent of income.”

So the financial security is directly linked to life satisfaction (as the study), but I think it is different for each person and depends on what each one wants in life.

Yes, every one of us has a different relationship with money and depends on our context, from what we were taught at home about money, to how much we have and what we need.

The definition of financial security varies depending on who was asked for one will have her own home, for another one million dollars in the bank, and one more will have enough to live for today. Read the rest of this entry →