La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Mortgage: banks ready to grant an exceptional moratorium on reimbursements to individuals | France

Some employees and self-employed people who have taken out a loan from their bank find themselves in difficulty in repaying it, their income having been partially or totally reduced. Several banks have therefore given their agreement in principle to postpone repayment dates by 6 months.

Banks of France

While France is going through an unprecedented health crisis, many French people - salaried workers, home workers, self-employed ... - suffer or will suffer substantial income cuts in the coming weeks. Most employees will receive only 70% of their gross salary, while hoteliers and restaurateurs have simply closed their shop. Substantial losses in purchasing power which will not be without consequences for individuals who have taken out housing or consumer loans from a bank. Because the deadlines do not take into account a possible reduction in salary or turnover. As we explained to you recently, it is possible to suspend - partially or completely - the repayment of your credit in the overwhelming majority of contracts. Problem: not all contracts are covered, and above all, the period - generally two or three months - is not enough if the crisis were to last.

Major national banks have agreed
This is why certain banks have given their agreement in principle “to go further”, says Philippe Taboret, president of the Professional Association of Credit Intermediaries (APIC), an organization which brings together the vast majority of actors in intermediation in credit. "We have talked a lot with the banks to get 6 months of extension of deadlines and I think it will succeed!", He confided to Capital. BNP, Societe Generale, Banque Postale and some Banque Populaire brands have given their agreement in principle, some are even already finalizing the system. The text could take the form of a convention or any other “common commitment form,” he continues. Information confirmed by the Postal Bank: "The goal is to help customers in financial difficulty. The terms remain to be defined, but we want to participate in the overall effort for individuals" does one breath on the side of the establishment. The French Banking Federation has not yet responded to our requests.

The agreement has not yet been formalized, however, since the target audience remains a sticking point. The banking establishments would militate to reserve the device to the people “in difficulty”, a generic term which leaves room for doubt. "On the contrary, we believe that everyone should be included to facilitate the application of this agreement," said Philippe Taboret. The idea is that tomorrow, everyone can contact their bank in a simple way to ask them, without justification, the suspension of repayment deadlines, on the date they want, and for the duration they want. ” Note that the loan insurance could not be suspended, it must be effective if an accident occurs to the borrower.

The support of the executive on this issue remains to be seen. A letter, sent by Apic, and addressed to the Ministry of Economy and Finance, but also that of Territorial Cohesion, was sent on Tuesday “to support this measure as well as an extension of the conditions precedent of sale to avoid future legal fights over these issues. ” Apic fears a "spike" in disputes between borrowers and banks over late payments. Maël Bernier, communications director at Meilleurtaux therefore advises people who have signed a promise to sell in the past few weeks to request a postponement of their conditions precedent by one and a half months. Sufficient time, she said, to be able to subsequently sign the authentic purchase deed.

Incidentally, brokers took the opportunity to reiterate their opposition to the recommendations of the High Council for Financial Stability (HCSF), which considerably restricted the conditions of access to mortgage loans. Banks are therefore obliged to scrupulously respect the 33% debt rule. "It is imperative to support the financing of individuals because otherwise the already slow real estate market risks collapsing" alarm Philippe Taboret. And the latter adds: "The French Banking Federation has mobilized for businesses, because they consider that the financial risks are less great with individuals. It is just as necessary to think of the craftsmen, traders and business leaders who will very quickly be in difficulty. "