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2.79 MB
Extraction Summary
1
People
5
Organizations
3
Locations
2
Events
0
Relationships
5
Quotes
Document Information
Type:
News article printout / webpage clipping
File Size:
2.79 MB
Summary
This document is page 2 of a Financial Times article printed on July 22, 2016, discussing the negative economic impacts of quantitative easing and low interest rates on European insurance companies and pension funds. The author criticizes central bank policies (ECB and Federal Reserve) and references a note by President Obama regarding competitive devaluation. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was produced as part of a congressional investigation, likely found within the files or correspondence of the investigation's subject (Epstein).
People (1)
| Name | Role | Context |
|---|---|---|
| President Obama | Former US President |
Mentioned regarding a note he wrote in the FT about competitive devaluation and policy paths.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Financial Times (FT.com) |
Source of the article.
|
|
| Eesti Pank |
Central Bank of Estonia, cited regarding stress tests.
|
|
| European Central Bank (ECB) |
Mentioned regarding its policy path and competitive devaluation.
|
|
| Federal Reserve |
Staff mentioned as being guileless about shortcomings of long-term projections.
|
|
| House Oversight Committee |
Source of the document production (implied by Bates stamp).
|
Locations (3)
| Location | Context |
|---|---|
|
Location of Eesti Pank.
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|
|
Context for pension plans and insurance regulation.
|
|
|
Implied by mention of US election year and Federal Reserve.
|
Key Quotes (5)
"the low interest rate scenario used in the stress test has already arrived, and the current yield curve is already lower than that used in the test."Source
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Quote #1
"If companies do not take appropriate measures or adjust their operations or strategy, they could face difficulties in meeting their liabilities to policyholders earlier than was calculated."Source
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Quote #2
"Someone will have to explain to the pensioners and survivors that they are not getting what they are promised. I would suggest not applying for that particular job opening."Source
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Quote #3
"It does not take much reading between the lines of statements such as President Obama’s last note in the FT to see that the competitive devaluation implicit in the ECB’s policy path is making the leaders of a major currency zone rather cross."Source
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Quote #4
"That is to get through the year end and the bonus calculation period without having to put a complete financial disaster on the books."Source
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Quote #5
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