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Savings And Investment Bank
Savings & Investment Bank (SIB) was a bank licensed in the Isle of Man that collapsed in 1982 with liabilities of some £37 million. History Liquidation of the bank commenced on 29 July 1982. An approximate statement of affairs prepared for a creditors' meeting disclosed loans and advances over £40 million. In a statement to Tynwald Court the Chairman of the Finance Board said that after meeting the auditors and the directors of the Bank, it was obvious that SIB had made very large loans to a relatively small group of companies, beyond banking guidelines, and these were probably irrecoverable. Liquidation commenced 29 July 1982. Claims from 3,000 depositors and other creditors totalling £31.4 million were admitted in the liquidation but recoveries from loans and advances totalled only £12.8 million. The eventual dividend was 29p in the pound which was finalised after 23 years. The Isle of Man Government The Isle of Man Government ( gv, Reiltys Ellan Vannin) is the governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Isle Of Man
) , anthem = "O Land of Our Birth" , image = Isle of Man by Sentinel-2.jpg , image_map = Europe-Isle_of_Man.svg , mapsize = , map_alt = Location of the Isle of Man in Europe , map_caption = Location of the Isle of Man (green) in Europe (dark grey) , subdivision_type = Sovereign state , subdivision_name = United Kingdom , established_title = Norse control , established_date = 9th century , established_title2 = Scottish control , established_date2 = 2 July 1266 , established_title3 = English control , established_date3 = 1399 , established_title4 = Revested into British Crown , established_date4 = 10 May 1765 , official_languages = , capital = Douglas , coordinates = , demonym = Manx; Manxman (plural, Manxmen); Manxwoman (plural, Manxwomen) , ethnic_groups = , ethnic_groups_year = 2021 , ethnic_groups_ref = Official census statistics provided by Statistics Isle of Man, Isle of Man Government: * * , religion = , religion_year = 2021 , relig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Isle Of Man Government
The Isle of Man Government ( gv, Reiltys Ellan Vannin) is the government of the Isle of Man. The formal head of the Isle of Man Government is the Lieutenant Governor, the personal representative of Charles III. The executive head is the Chief Minister. Douglas, the largest town in the Isle of Man, is its capital and seat of government, where most Government offices and the parliament chambers (Tynwald) are located. The Civil Service has more than 2,000 employees and the total number of public sector employees including civil servants, teachers, nurses, police, etc. was 7,413 full time equivalent at 31 March 2019. This is just under 10% of the population of the Island and 21% of the working population. This does not include any military forces, as defence is the constitutional responsibility of the United Kingdom. Government structure The Government consists of eight departments, seven statutory boards, and numerous other governmental and quasi-independent agencies. The departme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Supervision Commission
The Financial Supervision Commission (FSC) ( gv, Barrantee Oaseirys Argidoil) was the financial regulator of the Isle of Man. The commission was established in 1983. The Chairman was previously a Member of Tynwald until legislation forbade this in 2004. In 2015, the FSC merged with the Insurance and Pensions Authority (IPA) to form the Financial Services Authority (IOMFSA). Chairpersons ;FSC * Col Edgar Mann, 1983-1985 *David Cannan MHK, 1986-1989 * Donald Gelling, 1989-1996 *Walter Gilbey, 1996-1999 *Phil Braidwood MHK, 1999-2001 * Alan Crowe MLC, 2001-2003 * Rosemary Penn, 2004-2012 * Geoff Karran, 2012-2015 ;IOMFSA *Geoff Karran, 2015-2018 *Lillian Boyle, since 2018 References External links * Economy of the Isle of Man Government of the Isle of Man Isle of Man ) , anthem = "O Land of Our Birth" , image = Isle of Man by Sentinel-2.jpg , image_map = Europe-Isle_of_Man.svg , mapsize = , map_alt = Location of the Isle of Man in Europe , map_caption = ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance And Pensions Authority
The Insurance and Pensions Authority ( gv, Lught-reill Urryssaght as Penshynyn) or IPA was the statutory body responsible for the regulation and supervision of pensions and insurance businesses operated in or from the Isle of Man. In 2015, the IPA merged with the Financial Supervision Commission (FSC) to form the Financial Services Authority (IOMFSA). History It was first established as the Insurance Authority in 1986. In 1997, its remit was expanded to include oversight of businesses providing pensions and similar products, and it was renamed the Insurance and Pensions Authority. Remit Its remit was to authorise and supervise those businesses carrying on these activities, either in or from the Island. It also oversaw general insurance brokers. (Those brokers advising on or arranging "long term insurance", for example, life policies which offer investment benefits, were supervised by the island's other financial services regulator, the Financial Supervision Commission). In add ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of The Isle Of Man
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Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Failures
A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities. A bank usually fails economically when the market value of its assets declines to a value that is less than the market value of its liabilities. The insolvent bank either borrows from other solvent banks or sells its assets at a lower price than its market value to generate liquid money to pay its depositors on demand. The inability of the solvent banks to lend liquid money to the insolvent bank creates a bank panic among the depositors as more depositors try to take out cash deposits from the bank. As such, the bank is unable to fulfill the demands of all of its depositors on time. A bank may be taken over by the regulating government agency if its shareholders' equity are below the regulatory minimum. The failure of a bank is generally considered to be of more importance than the failure of other types of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 1982
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a Bank regulation, high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concept ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Companies Disestablished In 1982
British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies. ** Britishness, the British identity and common culture * British English, the English language as spoken and written in the United Kingdom or, more broadly, throughout the British Isles * Celtic Britons, an ancient ethno-linguistic group * Brittonic languages, a branch of the Insular Celtic language family (formerly called British) ** Common Brittonic, an ancient language Other uses *''Brit(ish)'', a 2018 memoir by Afua Hirsch *People or things associated with: ** Great Britain, an island ** United Kingdom, a sovereign state ** Kingdom of Great Britain (1707–1800) ** United Kingdom of Great Britain and Ireland (1801–1922) See also * Terminology of the British Isles * Alternative names for the British * English (other) * Britannic (other) * British Isles * Brit (other) * B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
