What Is Big Data, SAS US, big data resources.#Big #data #resources


#

Big Data

Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it’s not the amount of data that’s important. It’s what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves.

Big Data History and Current Considerations

While the term “big data” is relatively new, the act of gathering and storing large amounts of information for eventual analysis is ages old. The concept gained momentum in the early 2000s when industry analyst Doug Laney articulated the now-mainstream definition of big data as the three Vs:

Volume. Organizations collect data from a variety of sources, including business transactions, social media and information from sensor or machine-to-machine data. In the past, storing it would’ve been a problem – but new technologies (such as Hadoop) have eased the burden.

Velocity. Data streams in at an unprecedented speed and must be dealt with in a timely manner. RFID tags, sensors and smart metering are driving the need to deal with torrents of data in near-real time.

Variety. Data comes in all types of formats – from structured, numeric data in traditional databases to unstructured text documents, email, video, audio, stock ticker data and financial transactions.

At SAS, we consider two additional dimensions when it comes to big data:

Variability. In addition to the increasing velocities and varieties of data, data flows can be highly inconsistent with periodic peaks. Is something trending in social media? Daily, seasonal and event-triggered peak data loads can be challenging to manage. Even more so with unstructured data.

Complexity. Today’s data comes from multiple sources, which makes it difficult to link, match, cleanse and transform data across systems. However, it’s necessary to connect and correlate relationships, hierarchies and multiple data linkages or your data can quickly spiral out of control.


Privacy 101: Why You Need a VPN #vpn, #gop, #congress, #security, #data, #personal #data, #big


#

Privacy 101: Why You Need a VPN

The federal government opened the floodgates to allow ISPs to sell your personal data without your permission. Sound sketchy? Here’s how to protect yourself.

  • August 1, 2017 10:19AM EST
  • August 1, 2017
  • This site may earn affiliate commissions from the links on this page. Terms of use .

    Back in March, the Republican-led Congress voted to repeal FCC rules that blocked ISPs from selling your data to third parties without permission. The vote largely fell along party lines and President Trump signed the bill into law in early April.


    What is big data? Definition from #big #data #graduate #programs


    #

    big data

    Big data is an evolving term that describes any voluminous amount of structured. semistructured and unstructured data that has the potential to be mined for information.

    Download this free guide

    Download: Compare the cloud services of Azure, AWS, and Google

    These three vendors offer services ranging from big data in the cloud to serverless computing and more. Read on for a vendor-neutral comparison by our experts.

    By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.

    You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .

    Big data is often characterized by 3Vs. the extreme volume of data, the wide variety of data types and the velocity at which the data must be processed. Although big data doesn’t equate to any specific volume of data, the term is often used to describe terabytes. petabytes and even exabytes of data captured over time.

    Breaking down the 3Vs of big data

    Such voluminous data can come from myriad different sources, such as business sales records, the collected results of scientific experiments or real-time sensors used in the internet of things. Data may be raw or preprocessed using separate software tools before analytics are applied.

    Data may also exist in a wide variety of file types, including structured data, such as SQL database stores; unstructured data, such as document files; or streaming data from sensors. Further, big data may involve multiple, simultaneous data sources, which may not otherwise be integrated. For example, a big data analytics project may attempt to gauge a product’s success and future sales by correlating past sales data, return data and online buyer review data for that product.

    Finally, velocity refers to the speed at which big data must be analyzed. Every big data analytics project will ingest, correlate and analyze the data sources, and then render an answer or result based on an overarching query. This means human analysts must have a detailed understanding of the available data and possess some sense of what answer they’re looking for.

    How big data works.

    Velocity is also meaningful, as big data analysis expands into fields like machine learning and artificial intelligence. where analytical processes mimic perception by finding and using patterns in the collected data.

    Big data infrastructure demands

    The need for big data velocity imposes unique demands on the underlying compute infrastructure. The computing power required to quickly process huge volumes and varieties of data can overwhelm a single server or server cluster. Organizations must apply adequate compute power to big data tasks to achieve the desired velocity. This can potentially demand hundreds or thousands of servers that can distribute the work and operate collaboratively.

    Achieving such velocity in a cost-effective manner is also a headache. Many enterprise leaders are reticent to invest in an extensive server and storage infrastructure that might only be used occasionally to complete big data tasks. As a result, public cloud computing has emerged as a primary vehicle for hosting big data analytics projects. A public cloud provider can store petabytes of data and scale up thousands of servers just long enough to accomplish the big data project. The business only pays for the storage and compute time actually used, and the cloud instances can be turned off until they’re needed again.

    To improve service levels even further, some public cloud providers offer big data capabilities, such as highly distributed Hadoop compute instances, data warehouses. databases and other related cloud services. Amazon Web Services Elastic MapReduce is one example of big data services in a public cloud.

    The human side of big data analytics

    Ultimately, the value and effectiveness of big data depends on the human operators tasked with understanding the data and formulating the proper queries to direct big data projects. Some big data tools meet specialized niches and allow less technical users to make various predictions from everyday business data. Still, other tools are appearing, such as Hadoop appliances, to help businesses implement a suitable compute infrastructure to tackle big data projects, while minimizing the need for hardware and distributed compute software know-how.

    But these tools only address limited use cases. Many other big data tasks, such as determining the effectiveness of a new drug, can require substantial scientific and computational expertise from the analytical staff. There is currently a shortage of data scientists and other analysts who have experience working with big data in a distributed, open source environment.

    Big data can be contrasted with small data. another evolving term that’s often used to describe data whose volume and format can be easily used for self-service analytics. A commonly quoted axiom is that big data is for machines; small data is for people.

    This was last updated in May 2016

    Continue Reading About big data

    Related Terms

    fog computing (fog networking, fogging) Fog computing, also known as fog networking or fogging, brings the benefits of the cloud closer to where data is created: at the. See complete definition Google Cloud Dataproc Google Cloud Dataproc is a managed service within the Google Cloud Platform for processing large datasets, such as those used in. See complete definition Hadoop Hadoop is a free, Java-based programming framework that supports the processing of large data sets in a distributed computing. See complete definition

    PRO+

    Content


    Big Data #big #data #story


    #

    Oracle Big Data

    The Foundation for Data Innovation

    Enterprise Big Data

    We live in a world increasingly driven by data. How your organization defines its data strategy and approach—including its choice of big data and cloud technologies—will make a critical difference in your ability to compete in the future.

    • Leverage the benefits of big data in the cloud
    • Choose the leading provider to both Fortune 500 firms and top cloud app vendors
    • Extend scalability, reliability, and resiliency across the entire environment
    • Build on Oracle Engineered Systems for the best price for performance
    • Protect investments and skills in the era of big data and cloud

    • Video: Oracle for Enterprise Big Data (2:01)
    • Video: Oracle Big Data Architecture (1:49)

    What is Big Data?

    Big data describes a holistic information management strategy that includes and integrates many new types of data and data management alongside traditional data.

    White paper: Enterprise Architect’s Guide to Big Data—Reference Architecture Overview

    Big data has also been defined by the four Vs:

    • Volume. The amount of data. While volume indicates more data, it is the granular nature of the data that is unique. Big data requires processing high volumes of low-density, unstructured Hadoop data—that is, data of unknown value, such as Twitter data feeds, click streams on a web page and a mobile app, network traffic, sensor-enabled equipment capturing data at the speed of light, and many more. It is the task of big data to convert such Hadoop data into valuable information. For some organizations, this might be tens of terabytes, for others it may be hundreds of petabytes.
    • Velocity. The fast rate at which data is received and perhaps acted upon. The highest velocity data normally streams directly into memory versus being written to disk. Some Internet of Things (IoT) applications have health and safety ramifications that require real-time evaluation and action. Other internet-enabled smart products operate in real time or near real time. For example, consumer eCommerce applications seek to combine mobile device location and personal preferences to make time-sensitive marketing offers. Operationally, mobile application experiences have large user populations, increased network traffic, and the expectation for immediate response.
    • Variety. New unstructured data types. Unstructured and semi-structured data types, such as text, audio, and video require additional processing to both derive meaning and the supporting metadata. Once understood, unstructured data has many of the same requirements as structured data, such as summarization, lineage, auditability, and privacy. Further complexity arises when data from a known source changes without notice. Frequent or real-time schema changes are an enormous burden for both transaction and analytical environments.
    • Value. Data has intrinsic value—but it must be discovered. There are a range of quantitative and investigative techniques to derive value from data—from discovering a consumer preference or sentiment, to making a relevant offer by location, or for identifying a piece of equipment that is about to fail. The technological breakthrough is that the cost of data storage and compute has exponentially decreased, thus providing an abundance of data from which statistical analysis on the entire data set versus previously only sample. The technological breakthrough makes much more accurate and precise decisions possible. However, finding value also requires new discovery processes involving clever and insightful analysts, business users, and executives. The real big data challenge is a human one, which is learning to ask the right questions, recognizing patterns, making informed assumptions, and predicting behavior.

    To learn more about critical considerations in selecting big data technologies, read Oracle’s white paper, Enterprise Architect’s Guide to Big Data—Reference Architecture Overview (PDF) .

    In the Spotlight

    Maximize IoT Business Value

    Learn about the latest IoT and big data cloud platform solutions from IoT and big data from Oracle, Wind River, and Intel.

    Watch the video (1:44)


  • New Offerings from Oracle Big Data Cloud Service

    Learn about elastic Hadoop and other new services that help organizations transition to the cloud.

    Watch the video (7:27)


  • The Convergence of Big Data and the IoT

    Realize the full potential of big data and IoT.

    Chungho Nais Gains New Business Insight from Big Data Analysis with Oracle Cloud

    With Oracle Big Data, we can analyze sales patterns based on weather conditions and use data analytics in sales, marketing, and customer service to drive new business insights. Oracle Cloud helped us to increase employee satisfaction to provide necessary data anywhere and anytime.

    Jong-Chul Lee, IT Team Leader, Chungho Nais Corp

    Busit Empowers Customers to Achieve Digital Transformation

    Boosted by the Oracle France WeLoveStartups initiative, we tremendously increased our Big Data capabilities using Oracle REST Data Services to leverage our Oracle NoSQL Database, Enterprise Edition. Only Oracle could have helped us achieve a fully functional Big Data infrastructure in just hours.

    Wassel Guerbaa, CEO, Busit SAS

    Banco Galicia Transformed Targeted Marketing with Real-Time Decisions

    We wanted to transform the way we interact with our customers, leaving the traditional model behind. We saw in Oracle Real-Time Decisions the potential to have a customer-centered solution with the analytical capabilities to customize service according to the clients’ profile and preferred channel.

    Mariana Leguizamón, Analytical Marketing Manager, Banco Galicia

    mStart Enhances Service and Reduces Transportation Costs with Oracle Big Data

    Thanks to the profound insights delivered in real time by Oracle Big Data Appliance, we have increased our ability to respond to the needs of more than 1 million loyalty card holders who regularly use our retail network. We also expect to reduce our transportation costs.

    Ana Svetina, Head of Marketing, mStart d.o.o.

    Maximize IoT Business Value – Oracle, Wind River, and Intel


  • LUKE SHORT, GAMBLER AND GUNFIGHTER #dodge #city, #kansas, #dodge #city #peace #commission, #lawman, #lawmen, #gunfighters,


    #

    Luke Short was grabbed from behind and pulled off the boardwalk in front of the Oriental Saloon. He whirled and saw Charlie Storms beginning to draw. Luke pulled his short barreled Colt and fired. The .45 caliber bullet slammed into Storms’ heart, blew him backwards, and set his shirt afire. Luke shot him again as he went down.
    He stood there a moment looking down at Storms, then turned to Masterson. You sure as hell pick some of the damnedest people for friends, Bat!

    Luke Short, Tombstone, Arizona Territory Feb. 25, 1881

    Almost all historians have depicted Luke Short as a citified dandy gambler, probably because so little was known about his early years, but Wayne Short, Luke’s great-nephew has changed that view with his new biography.

    Luke, who left home at thirteen after cutting up the school bully, indeed, was fastidious in his dress, but for six years he was a thirty dollar-a-month cowhand on the dangerous longhorn drives from Texas to the Kansas rail towns. He hunted buffalo for their hides during the heydays of 1874-75, scouted and rode dispatch for General Crook and Major Thornburgh during the Sioux and Cheyenne uprising of 1876-78, traded with the Sioux and Cheyenne around Camp Robinson in northwestern Nebraska and finally was arrested for trading whiskey to the Indians for buffalo robes.

    He escaped from the army escort which was taking him to Omaha on the train and made his way to Denver and never worked again except as a high rolling professional gambler in the cowtowns and mining camps all over the west. He was no slouch with a six-shooter, either. This enigmatic man was close friends with Bat Masterson and Wyatt Earp and shot it out with some of the deadliest gunmen of that era.

    “They called him ‘The Undertaker’s Friend,’ because he shot ’em where it didn’t show.”—Stewart H. Holbrook

    Luke Short: A Biography
    This is the first full biography of the famous gambler, and his story is told by his great-nephew, Wayne Short.

    Here is what two reviews said about “Luke Short: A Biography”:

    “Luke Short: A Biography” is an immensely readable account not just of the adventure-packed life of its subject — one that was brief even for its times; he was 39 when he died in 1893 — but of the period in which he lived. A friend of Wyatt Earp and Bat Masterson, and a veteran of the Dodge City Saloon War, Luke Short roamed the West working a variety of jobs. He killed a man in Tombstone in 1881.

    Wayne Short has worked with family records and recollections as well as published documents to chronicle his colorful relative. In an earlier biography for which Wayne Short supplied data, the author wrote, “Luke Short’s personal tragedy was that in less than 40 years he outlived his times.”

    J.C. Martin
    The Arizona Daily Star

    “Wayne Short, the author who gave us those great Alaskan books: “The Cheechakoes,” “This Raw Land,” and “Albie, and Billy the Sky-Pilot” is back with a biography of his great-uncle, the famous Old West gambler and gunfighter, Luke Short. I rate the book a masterful job. It not only is the adventurous story of one man’s life, but also a social and economic comment of the period in which Luke Short lived, 1854-1893. Well done!”

    Robert N. DeArmond
    Historian, author, former editor of
    Alaska Magazine and the Alaskan Journal

    Wayne Short comes from a long line of pioneering people. In 1859, his great grandfather crowded his large family into ox-drawn wagons and headed West. They finally settled on the Red River in Texas where they farmed and fought Comanches and Kiowas. Most of this indomitable little man’s sons grew to be cattlemen, but one, Luke Short, sought out the boomtowns of the West and became one of the most well-known gamblers and gunfighters of that era.

    The next two generations of Shorts turned west and north seeking new country and Wayne Short was born in Nadaburg, Arizona seventy years ago. He served in the Navy’s amphibious forces during World War II and made the invasions of Iwo Jima, Okinawa, and the Philippines. He and his parents and two brothers moved to an isolated island in Southeastern Alaska in 1946 where Wayne learned to fish commercially and live off the land. Mr. Short has worked as a trapper, bounty hunter, cannery tender skipper, carpenter, shipwright, steam engineer, and commercial fisherman.

    In 1954, Wayne brought his bride, Barbara, north to share their isolated life. They now have five sons and five grandchildren. Wayne has been writing and selling short stories, articles, and books for thirty-five years. Many of his stories tell of the remarkable but true stories of the adventures he and his family shared in Alaska. His latest dream was to research and write about his great uncle, Luke Short, the notorious Arizona Territory gambler and gunfighter who was a friend of men like Wyatt Earp and Bat Masterson. In order to do the proper research, Wayne and Barbara moved to Tombstone, and in 1996, Luke Short: a Biography, became a reality.

    This site provided by:

    Devil’s Thumb Press


    Canada – s big banks cut prime rate after BoC move – The Globe and


    #prime interest rate today

    #

    Canada s big banks cut prime rate after BoC move Add to.

    Canada’s big banks followed the Bank of Canada’s interest rate cut, lowering their prime lending rates in a series of moves that nonetheless reinforce the reluctance of lenders to follow the central bank in lockstep.

    Toronto-Dominion Bank initially decreased its prime rate – the benchmark for creditworthy borrowers – to 2.75 per cent, down 0.10 percentage points. Royal Bank of Canada, Bank of Montreal, Bank of Nova Scotia and Canadian Imperial Bank of Commerce responded on Wednesday evening, reducing theirs by 0.15 points to 2.70 per cent from 2.85 per cent. That’s a shallower reduction than the central bank’s 0.25-point cut. TD then matched the lower prime rates with an additional cut.

    ECONOMY

    The Canadian dollar took a nosedive after The Bank of Canada cut its key overnight lending rate by 25 basis points to 0.50 percent saying Canada’s weakening economy is in ‘significant and complex adjustment.’ BNN Video

    Economy
    ECONOMY

    This marks the second time this year that Bay Street has taken a more cautious approach to their lending rates after the central bank has slashed its benchmark in response to disappointing economic activity.

    Overall, banks have lowered their prime rates by a total of 0.3 percentage points this year, or nearly half the Bank of Canada’s total reduction of 0.50 points over the same period.

    Bank of Canada Governor Stephen Poloz appeared unconcerned by the banks’ response, noting that lending rates can be affected by many factors beyond official monetary policy.

    “That’s how financial markets work,” Mr. Poloz said at a press conference. “All we’re trying to do is have an influence on [the lending rate], as opposed to determine it.”

    After the Bank of Canada cut its key rate in January, also by a quarter point, the big banks were slow in responding to the surprise move.

    When they did react, they took a public drubbing over their refusal to respond with an equal reduction in their prime rates, decreasing them by just 0.15 points.

    However, some observers have pointed out that the Bank of Canada may not mind the muted response from the banks.

    House prices have soared as borrowing costs have fallen, raising concerns that prices may be overvalued by as much as 30 per cent, according to Bank of Canada estimates. As well, Canadian indebtedness has risen to new heights, making consumers vulnerable to rising unemployment levels or an eventual ramp-up in borrowing costs.

    For the banks themselves, the response to the Bank of Canada comes as they attempt to shore up profits driven by their lending activities.

    Since the banks make money by lending at higher rates than their own borrowing costs, substantially lower prime rates can compress the spread, or net interest margins.

    “We are in such an unusually low-interest-rate environment that the traditional rules of one-for-one [reductions in the prime rate and the Bank of Canada’s key interest rate] don’t work,” Peter Routledge, an analyst at National Bank Financial, said in an interview.

    He pointed out that the net interest margin for the Canadian personal and commercial banking operations of the Big Six banks have declined to a weighted average of just 2.48 per cent from 2.73 per cent in 2010. Less than a decade ago, the margin was a far more robust 3 per cent.

    Although Canadian banks have increased their overall profits over this period, their share prices have recently been struggling to keep up with the broader market, reflecting investor concerns that earnings growth is being challenged.

    “We anticipate that the market’s outlook for growth will moderate further in 2016, encapsulating an even greater slowdown in loan growth and incremental margin pressures,” John Aiken, an analyst at Barclays, said in a note.

    Mr. Routledge thinks the banks may also be maintaining higher prime rates, relative to the Bank of Canada’s key rate, out of concerns about credit risk.

    “If the economy is slowing so much that the Bank of Canada has cut its policy rate in half” – to 0.5 per cent from 1 per cent in January – “maybe households in particular are not as creditworthy as consensus believes,” he said.

    “If that’s the case, you want to put in a little more spread for taking credit risk.”

    Restrictions

    Thomson Reuters 2012.

    All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. Thomson Reuters is not liable for any errors or delays in Thomson Reuters content, or for any actions taken in reliance on such content. ‘Thomson Reuters’ and the Thomson Reuters logo are trademarks of Thomson Reuters and its affiliated companies.

    Selected data supplied by Thomson Reuters. Thomson Reuters Limited. Click for Restrictions .

    Copyright 2016 The Globe and Mail Inc. All Rights Reserved.

    444 Front St. W. Toronto. ON Canada M5V 2S9
    Phillip Crawley, Publisher

    Add to Watchlist

    We’ve run into a glitch. Please try again later.

    We’ve run into a glitch. Please try again later.

    Customize your reading font


    Big banks are fleeing the mortgage market #fixed #rate #mortgages


    #mortgage market

    #

    Big banks are fleeing the mortgage market

    When it comes to residential mortgages, big banks are waving the white flag.

    Banks originated 74% of all mortgages in 2007, but their share fell to 52% in 2014, the most recent data available from the Mortgage Bankers Association. And it could go even lower.

    But even at these levels, the big bank backtrack is reshaping a lending landscape that’s already undergone seismic shifts since the housing bubble burst.

    While there’s widespread agreement that banks should have been reined in — and perhaps punished — after playing a major role in the housing bubble that helped tank the economy, the past few years have been tough for banks’ mortgage businesses.

    They now face a regulatory environment so strict that many are afraid to lend, even to customers with the most pristine credit. They’re still paying up for misdeeds done during the bubble. There’s essentially no private bond market to whom to sell mortgages.

    And fighting those battles on behalf of their least-profitable divisions means residential lending just isn’t worth it for many banks.

    “We can’t make money in the business,” BankUnited CEO John Kanas said when he announced a mortgage retreat on a January earnings call. “We realized that this was the lowest-margin, most volatile business we had and we decided that we should exit.”

    Of the top 10 originators in 2015, banks lent 28.6% of all mortgages, according to data from Inside Mortgage Finance. That’s about half their share in 2012, when banks among the top 10 originators accounted for 54.4% of all mortgages.

    2015 Volume, billions

    For many analysts, that step is only natural.

    “The fact is that the cost of capital and compliance has convinced many bankers that making home loans to American families is not worth the risk,” said Chris Whalen, a long-time bank analyst now with Kroll Bond Rating Agency, in a speech early in February.

    Whalen expects the four largest commercial banks will “down size or exit entirely from the business of originating and servicing residential mortgages.”

    The number one lender, Wells Fargo, WFC, -1.56% originated $47 billion in mortgages in the fourth quarter of 2015, compared to $125 billion in the last three months of 2012.

    J.P. Morgan Chase JPM, -1.23% lent $22.5 billion in mortgages in the fourth quarter. down from $51.2 billion in the same quarter three years ago .

    Other experts aren’t sure the banks will exit “entirely.”

    Ted Tozer is the president of Ginnie Mae. the mortgage giant that backs loans sold by the Federal Housing Agency and the Veterans Administration.

    Tozer thinks banks have already whittled down to about the level of lending they want to keep up. And he believes many big banks wouldn’t turn down the opportunity to offer a mortgage to an existing customer — to be “full-service,” as he says.

    But Tozer also sees the mortgage market going “back to the future.” Big banks have dominated mortgage lending only since the 1990s, when economies of scale for technological infrastructure made the “financial supermarket” model attractive, forcing smaller players to take a back seat.

    Community banks and credit unions are going to step into the void, Tozer told MarketWatch, although they won’t be big players because post-crisis regulations limit how much mortgage debt they can hold. “Right now they should be flourishing, but they won’t be able to live up to their full potential” because of Basel requirements, Tozer said.

    The biggest players will instead be online lenders, sometimes called “nonbanks.”

    In 2015, four of the top ten originators were such entities, according to data from Inside Mortgage Finance – Quicken Loans, PennyMac Financial, PHH Mortgage, and Freedom Mortgage. Those institutions, also known as “independent mortgage bankers,” made up 43% of all originations in 2014, according to the Mortgage Bankers Association, a share that’s stayed steady or grown every year since 2007, when it stood at 23%.

    While Quicken drew some fire for a Super Bowl commercial that seemed to suggest getting a mortgage should be as easy as it was during the housing bubble, nonbanks must operate within the same rigorous underwriting framework that banks do post-crisis.

    And many of them are flourishing because they were created after the crisis to clean up delinquent loans, meaning they know how to service the more challenging loans.

    Ellen Seidman, senior fellow at the Urban Institute, sees a future mortgage market that’s somewhat bifurcated between small, local institutions like community banks and credit unions, and online lenders, whom borrowers might never meet in person.

    Seidman thinks that bifurcation will take place along age lines, with nonbanks picking up “a larger and larger share of tech-savvy millennial population. They may get steered wrong, it certainly has happened before, but there are a lot of people trying to do it right,” she said.

    A more serious question, Seidman said, is whether minority and immigrant communities will be well-served in the future. That’s where other questions, like whether lenders are responsible for the bad loans they make, come into play.

    “It is worth worrying about how are we going to not have a repeat of some of the bad stuff done during the bubble,” Seidman said. “There are reasons to believe it will be harder to make those mistakes again, but if we get into a mode of trusted people being able to originate mortgages without having responsibility for them, for their performance, it’s not clear.”

    Copyright 2016 MarketWatch, Inc. All rights reserved.

    Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. Intraday data delayed per exchange requirements. S P/Dow Jones Indices (SM) from Dow Jones Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S P/Dow Jones Indices (SM) from Dow Jones Company, Inc. SEHK intraday data is provided by SIX Financial Information and is at least 60-minutes delayed. All quotes are in local exchange time.

    Stocks

    Columns

    Authors

    Topics

    No results found

    LatestNews


    Canada – s big banks cut prime rate after BoC move – The Globe and


    #prime interest rate today

    #

    Canada s big banks cut prime rate after BoC move Add to.

    Canada’s big banks followed the Bank of Canada’s interest rate cut, lowering their prime lending rates in a series of moves that nonetheless reinforce the reluctance of lenders to follow the central bank in lockstep.

    Toronto-Dominion Bank initially decreased its prime rate – the benchmark for creditworthy borrowers – to 2.75 per cent, down 0.10 percentage points. Royal Bank of Canada, Bank of Montreal, Bank of Nova Scotia and Canadian Imperial Bank of Commerce responded on Wednesday evening, reducing theirs by 0.15 points to 2.70 per cent from 2.85 per cent. That’s a shallower reduction than the central bank’s 0.25-point cut. TD then matched the lower prime rates with an additional cut.

    ECONOMY

    The Canadian dollar took a nosedive after The Bank of Canada cut its key overnight lending rate by 25 basis points to 0.50 percent saying Canada’s weakening economy is in ‘significant and complex adjustment.’ BNN Video

    Economy
    ECONOMY

    This marks the second time this year that Bay Street has taken a more cautious approach to their lending rates after the central bank has slashed its benchmark in response to disappointing economic activity.

    Overall, banks have lowered their prime rates by a total of 0.3 percentage points this year, or nearly half the Bank of Canada’s total reduction of 0.50 points over the same period.

    Bank of Canada Governor Stephen Poloz appeared unconcerned by the banks’ response, noting that lending rates can be affected by many factors beyond official monetary policy.

    “That’s how financial markets work,” Mr. Poloz said at a press conference. “All we’re trying to do is have an influence on [the lending rate], as opposed to determine it.”

    After the Bank of Canada cut its key rate in January, also by a quarter point, the big banks were slow in responding to the surprise move.

    When they did react, they took a public drubbing over their refusal to respond with an equal reduction in their prime rates, decreasing them by just 0.15 points.

    However, some observers have pointed out that the Bank of Canada may not mind the muted response from the banks.

    House prices have soared as borrowing costs have fallen, raising concerns that prices may be overvalued by as much as 30 per cent, according to Bank of Canada estimates. As well, Canadian indebtedness has risen to new heights, making consumers vulnerable to rising unemployment levels or an eventual ramp-up in borrowing costs.

    For the banks themselves, the response to the Bank of Canada comes as they attempt to shore up profits driven by their lending activities.

    Since the banks make money by lending at higher rates than their own borrowing costs, substantially lower prime rates can compress the spread, or net interest margins.

    “We are in such an unusually low-interest-rate environment that the traditional rules of one-for-one [reductions in the prime rate and the Bank of Canada’s key interest rate] don’t work,” Peter Routledge, an analyst at National Bank Financial, said in an interview.

    He pointed out that the net interest margin for the Canadian personal and commercial banking operations of the Big Six banks have declined to a weighted average of just 2.48 per cent from 2.73 per cent in 2010. Less than a decade ago, the margin was a far more robust 3 per cent.

    Although Canadian banks have increased their overall profits over this period, their share prices have recently been struggling to keep up with the broader market, reflecting investor concerns that earnings growth is being challenged.

    “We anticipate that the market’s outlook for growth will moderate further in 2016, encapsulating an even greater slowdown in loan growth and incremental margin pressures,” John Aiken, an analyst at Barclays, said in a note.

    Mr. Routledge thinks the banks may also be maintaining higher prime rates, relative to the Bank of Canada’s key rate, out of concerns about credit risk.

    “If the economy is slowing so much that the Bank of Canada has cut its policy rate in half” – to 0.5 per cent from 1 per cent in January – “maybe households in particular are not as creditworthy as consensus believes,” he said.

    “If that’s the case, you want to put in a little more spread for taking credit risk.”

    Restrictions

    Thomson Reuters 2012.

    All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. Thomson Reuters is not liable for any errors or delays in Thomson Reuters content, or for any actions taken in reliance on such content. ‘Thomson Reuters’ and the Thomson Reuters logo are trademarks of Thomson Reuters and its affiliated companies.

    Selected data supplied by Thomson Reuters. Thomson Reuters Limited. Click for Restrictions .

    Copyright 2016 The Globe and Mail Inc. All Rights Reserved.

    444 Front St. W. Toronto. ON Canada M5V 2S9
    Phillip Crawley, Publisher

    Add to Watchlist

    We’ve run into a glitch. Please try again later.

    We’ve run into a glitch. Please try again later.

    Customize your reading font


    Shot at the Spot’ Contest and Sweepstakes #jgwentworth.com/shotatthespot/,‘shot #at #the #spot’ #contest #and #sweepstakes,sweepstakes,big #sweepstakes,daily


    #

    Jgwentworth.com ‘Shot at the Spot’ Contest and Sweepstakes

    Sweepstakes is closed. Win Cash Sweepstakes is Hard $50,000

    Sweepstakes is posted on : January 16, 2016
    Sweepstakes is available between : 11 January 2016 – 9:00am – 11 March 2016 – 11:59pm
    Local : (50) United States and District of Columbia

    877-CASH-NOW is J.G. Wentworth famous and favorite opera of the 21st century. It’s a time to record your own version of the 877-CASH-NOW jingle and share it in J.G. Wentworth ‘Shot at the Spot’ Contest and Sweepstakes for a chance to win your share of $50,000 in prizes. You can also win 1 of nine $500 cash prize by giving vote for your favorite jingle video.

    Limit: Per day, you can get five entries during promotion period. The age of entrant must be 18 years old or older at the time of entry.

    There are two ways to get entry in to the Contests and Sweepstakes.

    A) Video Submission Entry:

    Online: During promotion period, visit jgwentworth.com/shotatthespot/ and click on video submission button. On the landing page, enter your email address and get registration form. Complete and submit registration form with all required details and upload video of featuring J.G. Wentworth branded TV commercial. Video submission cannot exceed 500MB.

    In-Mall Kiosk on January 16, 2016: In order to participate in the contest, visit the hosted event located in the Mall of America on January 16, 2016 and complete and submit official Contest registration form with all required details like Full Name, Complete Mailing Address, Email Address, Phone Number and “Are you receiving regular payments from an insurance company? Upon completion of the Contest registration form, you will have to visit the kiosk area to record your version of the J.G. Wentworth 877-Cash now jingle.

    B) Video Submission Contest Public Vote and Voter Sweepstakes:

    If you don’t want to submit your video, then here is also chance to win weekly sweepstakes cash prize by voting for your favorite videos during promotion period.

    Video submission First Prize: $30,000 check

    Video submission Second Prize: $10,000 check

    Video submission Third Prize: $5,500 check

    (9) Sweepstakes Prizes: $500 check


    Software devolopment #xoriant #solutions, #xoriant #corporation, #xoriant, #xoriant #accelerators, #product #development, #software #development, #product #engineering,


    #

    Innovation Engineered

    CreditDimensions is now Xoriant CDi

    Xoriant Debuts on Zinnov Product Engineering Rating

    Xoriant is a Silicon Valley based product engineering, software development and technology services firm with offices in the U.S. Europe and Asia. We deliver value across a range of industries in focus areas including Product Engineering, DevOps, Cloud Infrastructure & Security, Big Data & Analytics, Data Management & Governance, Digital and IoT. One of our key advantages? Our proven client commitment. More than half of our clients have been with us for five years or longer.

    Need to get solutions to market more quickly?
    Looking to improve decision making with data?
    Concerned about the security of your infrastructure?

    We are proud of the deep relationships we have built with our clients and we’re equally committed to our employees. The IT-BPM Council has named Xoriant one of the ‘Great Places to Work’ for two years running. It’s easy to see why. Our employees get to work with the most exciting next-generation technologies and grow their careers with some of the most innovative organizations in the world.