With everything happening in the stock market today more people are reading investment banking articles seeking to explain how investment banking relates to what everyday people are seeing in the news. Many people do not know investment banking basics because what investment banks do not seek out average people as clients. If you are interested in understanding this part of our economy you may want an investment banking guide that can walk you through how banks apply for the FINRA investment banking license to which banks serve regular customers as well as providing investment banking products for corporations. You will probably ask what is FINRA and why are they licensing banks? FINRA, or the Financial Industry Regulatory Authority, provides tools to investors that comply with regulations put forth by the SEC, Security and Exchange Commission. Part of the tools FINRA provides are licensing services for investment banks so investors can feel confident that they did their investment banking research and are working with an institution that will follow the laws and regulations that protect investors from banks behaving badly.
The Athens Stock Exchange had only been open for a matter of minutes after its five week hiatus before investors began breaking down into tears as their stocks plummeted.
According to USA Today and Newsweek, the Greek stock market fell by a whopping 23% immediately after opening on Monday, August 3. However, it also climbed slightly to 16% by the end of the day, and as economists and investors have noted, it’s unreasonable to expect a market to do well at all after a five week shutdown.
Among the biggest losers were Greece’s top four banks, the Wall Street Journal reported, which released statements on Monday saying that it was too early to “gauge the impact” of the Greek government’s capital controls on the banks. Nevertheless, it’s clear that the banks have suffered greatly, in part because billions of euros were withdrawn from investment accounts earlier in 2015 despite the government’s attempts to curb its recession.
According to reports from USA Today, shares of the Greek National Bank, which had traded at $27.50 just a few years ago, were traded for $0.09 this past Monday — by the Securities and Exchange Commission definition, these shares were well below the $5 maximum selling price of a penny stock.
The National Bank joined the Alpha Bank, Attica Bank and Eurobank Ergasius, and the Bank of Pireaus as the major European banking institutions which saw a 30% decrease in stock values at the end of the day.
Outside of the banking industry, CNBC reported, there were only a few stocks that actually did well — and even though traders were expecting a volatile re-opening of the Greek market, it didn’t help that the future of Greece’s financial institutions are still in peril.
Greek government officials have been attempting negotiations with European Union (EU) leaders and authorities from the International Monetary Fund (IMF), but the country’s third bailout package, along with strict austerity measures, has been the center of controversy on a global scale.
In a matter of weeks, Greece will owe the European Central Bank a 3.2 billion euro payment; at this point, no one is expecting Greece to make its August 20 deadline, nor are there high hopes for a reasonable bailout package to make its way forward.
But one thing has become clear: if Greece’s stock market doesn’t stabilize soon, and if Europe isn’t able to create a bailout package that Greek leaders accept, the entire global stock market will be in jeopardy.
ase market, ase stock exchange australia, athens exchange market, athens general, athens ibex price, athens stock exchange market cap, athens stock index chart, athens stock market hours, athex clear, chart of greece, gd market, generalindex utveckling, global x msci greece etf, greece ac price in bangladesh, greece athex composite, greece athex composite index, greece stock market ase, greek companies on nyse, greek etf share price, greek shipping companies stock, greek shipping companies stock market.