Twitter NewsLocal NewsWin cinema ticketsBy Alan Jacques – January 6, 2017 594 Advertisement Previous articleMcCarthy refused bail for grandmother’s funeralNext articleLiving ‘Under an Irish Sky’ Alan Jacqueshttp://www.limerickpost.ie Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” Predictions on the future of learning discussed at Limerick Lifelong Learning Festival TAGScinemacompetitionlimerickOdeon CinemaOdeon Limerick Facebook WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash Linkedin ODEON Limerick is this week giving away one pair of tickets and two large combo meals for a film of your choice at their cinema at the Castletroy Shopping Centre.To be in with a chance, answer the following question and email your answer to [email protected] by 9am on Monday January 9.Sign up for the weekly Limerick Post newsletter Sign Up What is the name of the machine in Assassin’s Creed?A. The AnimusB. The Time Displacement SphereC. The Hot Tub RELATED ARTICLESMORE FROM AUTHOR WhatsApp Limerick’s National Camogie League double header to be streamed live Limerick Ladies National Football League opener to be streamed live Email Print
The Joe Marcinek Band has announced new dates with an exciting cast of musicians! While guitarist Joe Marcinek serves as the continuous centerpiece of the band, each show on his national tours typically feature a different lineup of musicians to create a different set of music every night. The music is equal parts Chicago Blues, New Orleans Funk, Grateful Dead Psychedelia, and Jazz Fusion. To close 2017, Marcinek has invited George Porter Jr. (The Meters), Alan Evans (Soulive), Wil Blades, Scott Guberman (Phil Lesh & Friends), and Tony Hall (Dumpstaphunk) to join him in different formations throughout the rest of the year.The Joe Marcinek Band will hit the House Of Blues in Chicago for a Yonder Mountain String Band after-party, the Crazy Horse Saloon in Nevada City, Boom Boom Boom in San Francisco, Crystal Bay Casino in Crystal Bay, The Vogue in Indianapolis, Country Club BBQ in Peoria, and Martyrs in Chicago. Head to the band’s website for more show information.To gear up for this exciting tour, Joe Marcinek has shared a new video for “Soffa” from the new album Slink, featuring bassist Tony Hall (Dumpstaphunk), keyboardist Joey Porter (the Motet), drummer Pete Koopmans, saxophonist Jonathan Hoel, and trumpeter Andrew Traverse, from the High Noon Saloon in Madison, WI. Check it out:The Joe Marcinek Band Tour10/28 – House Of Blues – Chicago, IL Back Porch Stage (Yonder Mountain String Band After Party)11/2 – Crazy Horse Saloon – Nevada City, CA with George Porter JR (the Meters), Alan Evans (Soulive) and Wil Blades11/3 – Boom Boom Room – San Francisco, CA with George Porter JR (the Meters), Alan Evans (Soulive) and Wil Blades11/4 – Crystal Bay Casino – Crystal Bay, NV with George Porter JR (the Meters), Alan Evans (Soulive) and Scott Guberman (Phil Lesh & Friends)12/7 The Vogue – Indianapolis, IN with Melvin Seals (JGB) Tony Hall (Dumpstaphunk) and Alan Evans (Soulive)12/8 – Country Club BBQ – Peoria, IL with Melvin Seals (JGB) Tony Hall (Dumpstaphunk) and Alan Evans (Soulive)12/9 – Martyrs – Chicago, IL with Melvin Seals (JGB) Tony Hall (Dumpstaphunk) and Alan Evans (Soulive)
Read also: Small banks could be forced to merge under new regulation, OJK says“If it’s only one or two institutions and they do not cause negative sentiment in the financial sector, of course, we can still handle this with business-as-usual ways,” he added.Article 23 of the Government Regulation in lieu of law (Perppu) No. 1/2020 states that the OJK has the authority to “give written orders to financial service institutions to conduct merger, consolidation, acquisition, integration and/or conversion processes”.Failure to follow the instruction of the OJK by a corporation could lead to imprisonment and a fine of at least Rp 1 trillion (US$61.4 million). The sanctions are stricter compared with only administrative ones regulated in an OJK regulation in 2019. President Joko “Jokowi” Widodo signed the Perppu, which activates crisis protocols and provides leeway for his administration to afford the fight against the COVID-19 pandemic, among other things, as the disease has disrupted business activity and hit the country’s vulnerable population.Wimboh stressed that other measures, such as stake sales and purchases and allowing Bank Indonesia (BI) to act as the lender of last resort, would be taken first before resorting to the merger scenario.Read also: Explainer: BI to throw lifeline to Indonesia’s economy to fight COVID-19Acting as the lender of last resort means that the central bank offers loans to banks and other financial institutions that are experiencing financial difficulties or are considered highly risky and near collapse.Previously, experts and economists expressed confidence that forced mergers would only be used as a last resort. Institute for Development of Economics and Finance (Indef) deputy director Eko Listiyanto said there were other methods for rescuing nonperforming banks, such as management restructuring.“In a worst-case scenario where banks fail, the OJK could merge the banks in accordance with the new regulation,” Eko said. Topics : A regulation to force small and struggling banks to consolidate would be the last resort in efforts to safeguard Indonesia’s financial industry amid heightening economic risks, according to Financial Services Authority (OJK) chairman Wimboh Santoso.He said during a teleconferenced meeting with House of Representatives Commission XI overseeing financial affairs on Tuesday that the “preemptive measure” was aimed at preventing the financial sector situation from worsening and to safeguard public confidence during times of crisis.“This is just in case [we need it]. It doesn’t mean that we have to do it,” Wimboh said, adding that the mechanism would only come into play if there was a foreseeable possibility of widespread collapse among Indonesia’s financial institutions.
The government has projected the budget deficit to reach Rp 971.2 trillion, or 5.5 percent of gross domestic product (GDP), in 2021 as the government looks to continue its stimulus spending to support economic recovery. The government plans to issue more sovereign debt papers (SBN), global bonds, retail bonds and sharia-compliant bonds to fund the deficit.Finance Minister Sri Mulyani Indrawati said on Aug. 14 that the government would continue to work with the central bank and allow it to buy government bonds directly at auctions as a standby buyer.Perry assured that the central bank would have the capacity to be the standby buyer next year because it had only bought a total of Rp 42.96 trillion (US$2.91 billion) in government bonds from the market since April.“The figure is only a small fraction of the total amount of government bonds issued to the market,” he said. Bank Indonesia (BI) has expressed its commitment to continue its role as a standby buyer for government bonds until 2021 to help fund the state budget deficit during the pandemic.BI Governor Perry Warjiyo said on Wednesday that the central bank would continue its role as a non-competitive bidder in government bond auctions next year, while assuring that it would have the capacity to do so.“We will only bid when the market is not capable of absorbing [the bonds]. We will have further discussion with the Finance Minister on the market capacity and the government funding strategy,” he said during a livestreamed press briefing. Data from the Finance Ministry’s financing and risk management office show that the government issued a total of Rp 630.5 trillion in government bonds in the first half of this year, or 41.2 percent of the total gross issuance in 2020, Kontan reported.Read also: Government to offer $62.3b in bonds in H2 to finance coronavirus fightPerry also announced that the central bank’s board of governors had decided to maintain its benchmark interest rate — the seven-day reverse repo rate — at 4 percent after lowering it four times this year by a total of 100 basis points (bps). Lending and deposit facility rates were also kept at 3.25 and 4.75 percent, respectively.“The decision is consistent with maintaining external stability amid low inflation that is expected to persist until the end of the year,” he said, adding that BI expected inflation to fall at around 2 percent this year.BI is also committed to continuing its quantitative easing by providing liquidity for banks by lowering the average primary reserve requirement (GWM), and for the government by being a standby buyer and participating in bond private placement.In a burden-sharing scheme agreement with the government, the central bank has purchased the government bonds through a private offering. The one-off policy that was only agreed for this year was aimed to help finance the widening budget deficit that was caused by the government’s COVID-19 response.“So far, we’ve bought Rp 82.1 trillion worth of government bonds through private placement,” he said.Read also: Bank Indonesia buys $5.6b in govt bonds in burden-sharing schemeMirae Asset Sekuritas economist Anthony Kevin lauded the government’s decision to allow BI continue its role as standby buyer as it could help to improve market confidence in government funding next year.He also said BI’s call to maintain the rate at 4 percent was the “correct call” despite wide-open room for another round of policy rate cuts.“I believe BI should refrain from [lowering rates] to maintain the interest rate differential in order to keep the rupiah on the appreciation path against the US dollar,” he said.He also added that the high trade balance surplus, low inflation and narrowing current account deficit could also help strengthen the rupiah against the greenback to Rp 14,400 per US dollar by the end of the year.The rupiah closed at Rp 14,770 per US dollar on Wednesday, 0.4 percent stronger than the day before. However, it has depreciated more than 1 percent over the past month.Trimegah Sekuritas economist Fakhrul Fulvian said the central bank’s decision to maintain rates would help to appreciate the rupiah since fears over huge monetary expansion could hamper recovery of the currency.Although he agreed that BI would receive a positive response from the market for its plan to continue as a standby buyer, he said it would ultimately depend on the central bank’s exit strategy from the burden to support the government.“It’s very important for BI to communicate to the market on its exit strategy once the economy recovers from the crisis,” he said.Topics :