Federal Reserve vice chairman Stanley Fischer: Remarks on the U.S. Economy
Autor: Bancherul.ro
2016-08-22 10:50
Vice Chairman Stanley Fischer
At the "Program on the World Economy" a conference sponsored by The Aspen Institute, Aspen, Colorado
August 21, 2016
Remarks on the U.S. Economy
The Fed's dual mandate aims for maximum sustainable employment and an inflation rate of 2 percent, as measured by the price index for personal consumption expenditures (PCE). Employment has increased impressively over the past six years since its low point in early 2010, and the unemployment rate has hovered near 5 percent since August of last year, close to most estimates of the full-employment rate of unemployment.
The economy has done less well in reaching the 2 percent inflation rate. Although total PCE inflation was less than 1 percent over the 12 months ending in June, core PCE inflation, at 1.6 percent, is within hailing distance of 2 percent--and the core consumer price index inflation rate is currently above 2 percent.1
So we are close to our targets. Not only that, the behavior of employment has been remarkably resilient. During the past two years we have been concerned at various stages by the possible negative effects on the U.S. economy of the Greek debt crisis, by the 20 percent appreciation of the trade-weighted dollar, by the Chinese growth slowdown and accompanying exchange rate uncertainties, by the financial market turbulence during the first six weeks of this year, by the dismaying pothole in job growth this May, and by Brexit--among other shocks. Yet, even amid these shocks, the labor market continued to improve: Employment has continued to increase, and the unemployment rate is currently close to most estimates of the natural rate.
During that period, the decline in the price of oil changed from being regarded as a simple reduction in the cost of living of almost all households--and thus an unmitigated blessing--to also being a source of concern, as it was understood that the decline in investment in the production and installation of drilling equipment mitigated the blessing, as did the decline in U.S. oil production.
And there have been other issues of concern to those particularly interested in monetary and macroeconomic policy, though probably of less explicit concern to the public: The decline in estimates of r*--the neutral interest rate that neither boosts nor slows the economy--which is related to the fear that we are facing a prolonged period of secular stagnation; the associated concerns that (a) the short-term interest rate will be constrained by its effective lower bound a greater percentage of time in the future than in the past, and (b) that the U.S. economy could find itself having to contend at some point with negative interest rates--something that the Fed has no plans to introduce; the fear that very low interest rates present a threat to financial stability; and concerns that low rates of real wage growth are increasing inequality in the distribution of income.
Primarily, I believe it is a remarkable, and perhaps underappreciated, achievement that the economy has returned to near-full employment in a relatively short time after the Great Recession, given the historical experience following a financial crisis.2 To be sure, it was a slow and difficult time for many, in part because growth in real gross domestic product (GDP) has been slow by historical standards. As can be seen in table 1, part of the slower output growth was due to smaller increases in aggregate hours worked, primarily reflecting demographic factors such as the aging of the baby-boom generation. But, as shown in table 2, there was also a major decline in the rate of productivity growth--to which I will return shortly.
Turning briefly to recent developments, the pattern of high employment growth and low productivity growth that we have seen in recent years has continued this year. So far in 2016, nonfarm payroll gains have averaged about 185,000 per month--down from last year's pace of 230,000, but still more than enough to represent a continued improvement in labor market conditions. Estimates of monthly job gains needed to keep the unemployment rate steady range widely, from around 75,000 per month to 150,000 per month, depending on what happens to labor force participation among other things.
Output growth has been much less impressive. Over the four quarters ending this spring, real GDP is now estimated to have increased only 1-1/4 percent. This pace likely understates the underlying momentum in aggregate demand, in part because of a sizable inventory correction that began early last year; even so, GDP growth has been mediocre at best.
The combination of strong job gains and mediocre GDP growth has resulted in exceptionally slow labor productivity growth. Most recently, business-sector productivity is reported to have declined for the past three quarters, its worst performance since 1979. Granted, productivity growth is often quite volatile from quarter to quarter, both because of difficulties in measuring output and hours and because other transitory factors may affect productivity. But looking at the past decade, productivity growth has been lackluster by post-World War II standards. Output per hour increased only 1-1/4 percent per year on average from 2006 to 2015, compared with its long-run average of 2-1/2 percent from 1949 to 2005. A 1-1/4 percentage point slowdown in productivity growth is a massive change, one that, if it were to persist, would have wide-ranging consequences for employment, wage growth, and economic policy more broadly. For example, the frustratingly slow pace of real wage gains seen during the recent expansion likely partly reflects the slow growth in productivity.3
Let me highlight a few topics from the growing volume of research on this topic. The first is that the productivity slowdown reflects mismeasurement, because the official statistics have failed to capture new and better products or properly account for changes in prices over time.4 Given how often we meet new technologies in our daily activities, even in classes of products that have been in operation for many years--from driving an automobile, to flying, to medicines and medical equipment, to our communications, and far more--it is easy to persuade ourselves that technological advances play a major part in improving our lives. However, some of these gains are conceptually outside the scope of GDP, and most recent research suggests that mismeasurement of output cannot account for much of the productivity slowdown.5
Another explanation is that business investment has been relatively modest during the current expansion, and so increases in capital per worker have been smaller than in previous decades. Part of the modest pace of investment is likely because the effective labor force that will use this new capital has been expanding much less rapidly than in previous decades, but it is also possible that investment has been restrained by the subdued outlook for growth and profits, thereby generating less demand for expanding productive capacity.6
However the slow growth in capital per worker has been quantitatively less important--accounting for only one-fourth of the slowdown in productivity compared with its long-run average--than the decline in the growth rate of total factor productivity (TFP), the portion of productivity that is not accounted for by measurable inputs to production. Indeed, TFP growth has averaged less than 1/2 percent per year in the past 10 years, well below its long-run average of 1-1/4 percent. Pinning down the exact causes of this slowdown is difficult, and there are many possibilities. For instance, it may reflect a slowdown in technological innovations, which may be persistent, as some have argued, or may be a temporary phenomenon, as I am inclined to believe.7
Low-to-middling TFP growth might also reflect the downward trend in business dynamism, as evidenced by a notable slowdown in gross job creation and destruction. Diminished dynamism has been linked to a marked slowdown in the reallocation of labor and capital from low-productivity establishments and firms to high-productivity ones, especially in innovative sectors like high tech.8 Both phenomena are closely related to the declining trend in new business creation.9
Are we doomed to slow productivity growth for the foreseeable future? We don't know.10 On the encouraging side, the technological frontier appears to be advancing rapidly in some sectors, and there are hints that the firm start-up rate is improving.11 On the more discouraging side, investment continues to disappoint--and so the current capital stock is smaller and embodies fewer frontier technologies than might otherwise be the case--and the productivity slowdown is a global phenomenon, suggesting that it may not be easily or quickly remedied.
Let me conclude by mentioning briefly one aspect of the low interest rate and low productivity growth problems--the fact that the Fed has been close to being "the only game in town," as Mohamed El-Erian and others have described it.12 At least one part of the solution can be found in the observation that overall macroeconomic policy does not have to be confined solely to monetary policy. In particular, monetary policy is not well equipped to address long-term issues like the slowdown in productivity growth. Rather, the key to boosting productivity growth, and the long-run potential of the economy, is more likely to be found in effective fiscal and regulatory policies.13 While there is disagreement about what the most effective policies would be, some combination of improved public infrastructure, better education, more encouragement for private investment, and more-effective regulation all likely have a role to play in promoting faster growth of productivity and living standards--and also in reducing the probability that the economy and particularly the central bank will in the future have to contend more than is necessary with the zero lower bound.
Source: Fed statement
Comentarii
Adauga un comentariu
Adauga un comentariu folosind contul de Facebook
Alte stiri din categoria: Noutati Federal Reserve
Federal Reserve urca dobanda la 2,25%
Federal Reserve (Fed) a urcat ieri dobanda cu un sfert de punct, la 2,25%, iar analistii estimeaza ca nu se va opri decat la 3%, in iunie 2019. Nivelul de 3% al dobanzii este cel pe care Fed il considera a fi nici expansionist nici contractionist, pe termen lung. De altfel, Fed considera ca deja dobanda este neutra, intrucat a eliminat din comunicat expresia "dobanda de politica monetara este acomodativa", ceea ce inseamna ca este mai mica decat ar trebui, pentru a stimula cresterea economica. Economia SUA este intr-o forma buna iar inflatia de baza este de doar detalii
Federal Reserve decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent
Federal Reserve issues FOMC statement (press release): Information received since the Federal Open Market Committee met in March indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been detalii
Federal Reserve majoreaza dobanda de referinta pentru dolar la 1,5% - 1,75%
Federal Reserve (Fed), banca centrala a Statelor Unite, a majorat dobanda de referinta pentru dolar cu un sfert de punct, la un interval de 1,5%-1,75%, in conditiile cresterii inflatiei si a revigorarii economiei americane. Spre deosebire de alte banci centrale, care folosesc o dobanda detalii
Federal Reserve issues FOMC statement
Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Averaging through hurricane-related fluctuations, job gains have been solid, and the unemployment detalii
- A Challenging Decade and a Question for the Future (speech by Janet Yellen, The Fed chair)
- Janet Yellen speech: Financial Stability a Decade after the Onset of the Crisis
- Janet Yellen - Semiannual Monetary Policy Report to the Congress
- Federal Reserve majoreaza din nou dobanda
- Federal Reserve raised the target range for the federal funds rate to 3/4 to 1 percent
- Janet Yellen: From Adding Accommodation to Scaling It Back
- Testimony by Chair Yellen on semiannual Monetary Policy Report to the Congress
- Federal Reserve keeps rate at 1/2 to 3/4 percent
- Speech by Fed chair Janet Yellen on the economic outlook and the conduct of monetary policy
- Minutes of the Federal Reserve
Criza COVID-19
- In majoritatea unitatilor BRD se poate intra fara certificat verde
- La BCR se poate intra fara certificat verde
- Firmele, obligate sa dea zile libere parintilor care stau cu copiii in timpul pandemiei de coronavirus
- CEC Bank: accesul in banca se face fara certificat verde
- Cum se amana ratele la creditele Garanti BBVA
Topuri Banci
- Topul bancilor cu cele mai mici dobanzi la creditele de nevoi personale
- Topul bancilor la active in 2019
- Topul celor mai mari banci din Romania dupa valoarea activelor in 2018
- Topul bancilor dupa active in 2017
- Topul bancilor cu cele mai mici comisioane la contul curent cu card si online banking
Asociatia Romana a Bancilor (ARB)
- Contribuția sistemului bancar în economie în ultimii 30 de ani este de două ori cât PIB-ul României
- Concursul de educatie financiara European Money Quiz si-a stabilit castigatorii
- Club online de educatie financiara pentru liceeni
- Creditele acordate de banci, record al ultimilor 12 ani
- Stiai ca daca transferi bani pentru altii, chiar fara sa vrei (involuntar), risti sa faci inchisoare?
ROBOR
- ROBOR a scazut la 1,59%, dupa ce BNR a redus dobanda la 1,25%
- Dobanzile variabile la creditele noi in lei nu scad, pentru ca IRCC ramane aproape neschimbat, la 2,4%, desi ROBOR s-a micsorat cu un punct, la 2,2%
- IRCC, indicele de dobanda pentru creditele in lei ale persoanelor fizice, a scazut la 1,75%, dar nu va avea efecte imediate pe piata creditarii
- Istoricul ROBOR la 3 luni, in perioada 01.08.1995 - 31.12.2019
- ROBOR 3 luni (date statistice pe perioada 1995-2019, conform BNR)
Taxa bancara
- Normele metodologice pentru aplicarea taxei bancare, publicate de Ministerul Finantelor
- Noul ROBOR se va aplica automat la creditele noi si prin refinantare la cele in derulare
- Taxa bancara ar putea fi redusa de la 1,2% la 0,4% la bancile mari si 0,2% la cele mici, insa bancherii avertizeaza ca indiferent de nivelul acesteia, intermedierea financiara va scadea iar dobanzile vor creste
- Raiffeisen anunta ca activitatea bancii a incetinit substantial din cauza taxei bancare; strategia va fi reevaluata, nu vor mai fi acordate credite cu dobanzi mici
- Tariceanu anunta un acord de principiu privind taxa bancara: ROBOR-ul ar putea fi inlocuit cu marja de dobanda a bancilor
Statistici BNR
- Deficitul contului curent, in crestere cu peste 70% dupa primele trei luni ale anului
- Deficitul contului curent a crescut cu 56% in primele doua luni ale anului
- Deficitul contului curent - 815 milioane euro, dupa prima luna a anului
- Deficitul contului curent la 11 luni a depasit nivelul prognozat pentru intregul an
- Finantarea verde in Romania reprezinta doar 4% din totalul creditarii, arata o analiza a BNR
Legislatie
- REGULAMENT (UE) nr. 679 din 2016 privind datele personale
- REGULAMENT (UE) nr. 679 din 2016 privind prelucrarea datelor cu caracter personal
- Normele de aplicare a OUG 90/2022 privind amanarea ratelor la credite, publicate in Monitorul Oficial din 29 iulie 2022
- Din 2023 se schimba plata CASS pentru cei cu venituri extrasalariale
- Normele de aplicare a OUG 90/2022 privind amanarea ratelor la credite (proiect de Hotarare de Guvern)
Lege plafonare dobanzi credite
- BNR propune Parlamentului plafonarea dobanzilor la creditele bancilor intre 1,5 si 4 ori peste DAE medie, in functie de tipul creditului; in cazul IFN-urilor, plafonarea dobanzilor nu se justifica
- Legile privind plafonarea dobanzilor la credite si a datoriilor preluate de firmele de recuperare se discuta in Parlament (actualizat)
- Legea privind plafonarea dobanzilor la credite nu a fost inclusa pe ordinea de zi a comisiilor din Camera Deputatilor
- Senatorul Zamfir, despre plafonarea dobanzilor la credite: numai bou-i consecvent!
- Parlamentul dezbate marti legile de plafonare a dobanzilor la credite si a datoriilor cesionate de banci firmelor de recuperare (actualizat)
Anunturi banci
- Reclamatii Credit Europe Bank - solutionarea alternativa a litigiilor
- Cei care amana ratele la credite vor plati ulterior dobanda la dobanda, adica mai mult
- Cardurile BCR sunt din material reciclat
- Unicredit: schimburile valutare la bancomate nu pot fi procesate
- Cum fac o reclamatie la BCR?
Analize economice
- ”Inflația industrială”, din nou în creștere și peste pragul de 60% la intern
- Deficit bugetar de 1,71% din PIB, după prima jumătate a anului 2022
- Creșterea PIB 2022, majorată în prognoza de vară. Salariul real va scădea anul acesta
- Deficitul contului curent, în creștere cu 80% după primele cinci luni ale anului
- Inflația anuală a atins 15%. Totuși, creșterea lunară a prețurilor e pe trend descrescător
Ministerul Finantelor
- Cum gasesc contul IBAN al ANAF in care platesc Declaratia Unica?
- Declaratia unica se depune pana la 25 mai, inclusiv
- Datoria publica, trecuta de 50% din PIB pe date operative: care sunt consecintele
- Noi programe de finantare: IMM Prod, Rural Invest, Garant Construct, Innovation
- Programul Noua casa 2022: care sunt conditiile de creditare
Biroul de Credit
- Care banci si IFN-uri raporteaza clientii la Biroul de Credit
- Ce trebuie sa stim despre Biroul de Credit
- Care este procedura BCR de raportare a clientilor la Biroul de Credit
- Legalitatea prelucrarii datelor personale de catre Biroul de Credit
- Care sunt bancile si IFN-urile care-si raporteaza clientii la Biroul de Credit?
Procese
- Decizia Curtii de Apel Bucuresti in procesul dintre Raiffeisen Banca pentru Locuinte si Curtea de Conturi
- Vodafone, obligata de judecatori sa despagubeasca un abonat caruia a refuzat sa-i repare un telefon stricat sau sa-i dea banii inapoi (decizia instantei)
- Taxa de reziliere a abonamentului Vodafone inainte de termen este ilegala (decizia definitiva a judecatorilor)
- ANAF trebuie sa plateasca BCR Leasing dobanzi fiscale de 6,7 milioane lei, pentru obligatii suplimentare de plata a TVA anulate de justitie
- Clauzele abuzive din contractele de credit nu au termen de prescriptie, deci pot fi constatate oricand, chiar si dupa plata creditelor, a decis CJUE
Stiri economice
- Dobânda pe termen lung pentru România a coborât sub cea pentru Ungaria
- România, pe locul 7 în UE la creșterea anuală a prețurilor
- Producția industrială pe primele cinci luni, mai mică decât în aceeași perioadă a anului trecut
- Deficitul comercial lunar, stabilizat la peste 1% din PIB in luna mai 2022
- Construcțiile, avans minim și trend descrescător după prima treime a anului
Statistici
- INS: Veniturile romanilor au crescut anul trecut cu 10%. Banii de mancare, redistribuiti cu precadere spre locuinta, transport si haine
- Inflatia anuala - 13,76% in aprilie 2022 si va ramane cu doua cifre pana la mijlocul anului viitor
- Deficitul bugetar, deja 0,72% din PIB in februarie 2022
- Datoria publica, majorata la 48,9% din PIB in 2021
- Dobanda pe termen lung a obligatiunilor romanesti a crescut la 5,60% in februarie 2022
FNGCIMM
- Programul IMM Invest continua si in 2021
- Garantiile de stat pentru credite acordate de FNGCIMM au crescut cu 185% in 2020
- Programul IMM invest se prelungeste pana in 30 iunie 2021
- Firmele pot obtine credite bancare garantate si subventionate de stat, pe baza facturilor (factoring), prin programul IMM Factor
- Programul IMM Leasing va fi operational in perioada urmatoare, anunta FNGCIMM
Calculator de credite
- ROBOR la 3 luni a scazut cu aproape un punct, dupa masurile luate de BNR; cu cat se reduce rata la credite?
- In ce mall din sectorul 4 pot face o simulare pentru o refinantare?
Noutati BCE
- Rata dobanzii pe termen lung pentru Romania, in crestere la 2,96%
- BCE recomanda bancilor sa nu plateasca dividende
- Modul de functionare a relaxarii cantitative (quantitative easing – QE)
- Dobanda la euro nu va creste pana in iunie 2020
- BCE trebuie sa fie consultata inainte de adoptarea de legi care afecteaza bancile nationale
Noutati EBA
- Bancile romanesti detin cele mai multe titluri de stat din Europa
- Guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis
- The EBA reactivates its Guidelines on legislative and non-legislative moratoria
- EBA publishes 2018 EU-wide stress test results
- EBA launches 2018 EU-wide transparency exercise
Noutati FGDB
- Depozitele bancare garantate de FGDB au crescut cu 13 miliarde lei
- Depozitele bancare garantate de FGDB reprezinta doua treimi din totalul depozitelor din bancile romanesti
- Peste 80% din depozitele bancare sunt garantate
- Depozitele bancare nu intra in campania electorala
- FGDB explica modul de aplicare a procedurii de recapitalizare interna a unei banci cu depozitele negarantate ale clientilor (bail-in)
CSALB
- O firma care a facut un schimb valutar gresit s-a inteles cu banca, prin intermediul CSALB
- Rolul Centrului de Solutionare Alternativa a Litigiilor in domeniul Bancar (CSALB) in sustinerea stabilitatii financiare
- CSALB recomanda bancilor sa nu mai claseze cererile incomplet documentate pentru solutionarea amiabila a litigiilor
- CSALB: bancile s-au impacat in acest an cu 445 de clienti nemultumiti, care au primit concesii in valoare de 1,2 milioane euro
- In ce conditii te poate ajuta banca, atunci cand ai o problema cu creditul - sfaturi de la CSALB
First Bank
- Clientii First Bank pot face plati prin Google Pay
- First Bank anunta rezultatele financiare din prima jumatate a anului 2021
- First Bank are o noua aplicatie de mobile banking
- Cetatenii americani din Romania pot incasa cecurile de asistenta financiara pentru COVID-19 doar la First Bank
- First Bank finalizeaza achizitia Bank Leumi Romania
Noutati FMI
- FMI: criza COVID-19 se transforma in criza economica si financiara in 2020, suntem pregatiti cu 1 trilion (o mie de miliarde) de dolari, pentru a ajuta tarile in dificultate; prioritatea sunt ajutoarele financiare pentru familiile si firmele vulnerabile
- FMI cere BNR sa intareasca politica monetara iar Guvernului sa modifice legea pensiilor
- FMI: majorarea salariilor din sectorul public si legea pensiilor ar trebui reevaluate
- IMF statement of the 2018 Article IV Mission to Romania
- Jaewoo Lee, new IMF mission chief for Romania and Bulgaria
Noutati BERD
- BERD este ingrijorata de investigatia autoritatilor din Republica Moldova la Victoria Bank, subsidiara Bancii Transilvania
- BERD dezvaluie cat a platit pe actiunile Piraeus Bank
- ING Bank si BERD finanteaza parcul logistic CTPark Bucharest
- EBRD hails Moldova banking breakthrough
- Banca Transilvania and EBRD become majority shareholders of Victoriabank in Moldova
Noutati Federal Reserve
- Federal Reserve anunta noi masuri extinse pentru combaterea crizei COVID-19, care produce pagube "imense" in Statele Unite si in lume
- Federal Reserve urca dobanda la 2,25%
- Federal Reserve decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent
- Federal Reserve majoreaza dobanda de referinta pentru dolar la 1,5% - 1,75%
- Federal Reserve issues FOMC statement
Noutati BEI
- BEI a redus cu 31% sprijinul acordat Romaniei in 2018
- Romania implements SME Initiative: EUR 580 m for Romanian businesses
- European Investment Bank (EIB) is lending EUR 20 million to Agricover Credit IFN
Mobile banking
- Comisioanele BRD pentru MyBRD Mobile, MyBRD Net, My BRD SMS
- Termeni si conditii contractuale ale serviciului You BRD
- Recomandari de securitate ale BRD pentru utilizatorii de internet/mobile banking
- CEC Bank - Ghid utilizare token sub forma de card bancar
- Cinci banci permit platile cu telefonul mobil prin Google Pay
Noutati Comisia Europeana
- Cele mai mici preturi din Europa sunt in Romania
- State aid: Commission refers Romania to Court for failure to recover illegal aid worth up to €92 million
- Comisia Europeana publica raportul privind progresele inregistrate de Romania in cadrul mecanismului de cooperare si de verificare (MCV)
- Infringements: Commission refers Greece, Ireland and Romania to the Court of Justice for not implementing anti-money laundering rules
- Council of the European Union statement on Bulgaria path towards ERM II participation
Noutati BVB
- BET AeRO, primul indice pentru piata AeRO, la BVB
- Laptaria cu Caimac s-a listat pe piata AeRO a BVB
- Banca Transilvania plateste un dividend brut pe actiune de 0,17 lei din profitul pe 2018
- Obligatiunile Bancii Transilvania se tranzactioneaza la Bursa de Valori Bucuresti
- Obligatiunile Good Pople SA (FRU21) au debutat pe piata AeRO
Institutul National de Statistica
- Producția agricolă 2021, în creștere semnificativă, dar rămasă sub nivelul din 2019
- PIB T1 2022 - recalculat marginal în jos. IT-ul a egalat comerțul ca efect pe creșterea economică
- Productia industriala din aprilie 2022, sub nivelul din urma cu sase ani
- Inflatia industriala a scazut, dar transmiterea in preturile la consumator continua
- Puterea de cumparare a salariului mediu - pe plus in T1 2022, in pofida inflatiei
Informatii utile asigurari
- Asigurari de viata: crestere de 18% in 2021
- Dosarele de dauna City Insurance se pot depune la FGA (Fondul de Garantare a Asiguratilor)
- Transilvania Broker de Asigurare ofera comsionul digital
- Doar 1,8 milioane de locuinte dintre cele peste 9 milioane sunt asigurate
- Regulile privind incheierea asigurarii auto RCA online
ING Bank
- Cum evitam tentativele de frauda online?
- Clientii ING Bank trebuie sa-si actualizeze aplicatia Home Bank pana in 20 martie
- Obligatiunile Rockcastle, cel mai mare proprietar de centre comerciale din Europa Centrala si de Est, intermediata de ING Bank
- ING Bank transforma departamentul de responsabilitate sociala intr-unul de sustenabilitate
- ING Bank anunta rezultatele financiare la 9 luni 2021: creditarea si profitul cresc substantial
Ultimele Comentarii
-
You Brd app
Buna ziua, Am reinstalat aplicatia You Brd pe telefon. Acum, dupa ce introduc pin-ul, aplicatia nu ... detalii
-
Buna ziua tatal meu are oprire pe pensia de boala a facut un inprumut in anul 2008
Buna ziua tatal meu are oprire pe pensia de boala a facut un inprumut in anul 2008 am inteles ca ... detalii
-
Defecțiune aplicație
Bună ziua! De câteva zile aplicația nu funcționează...când estimați remedierea ... detalii
-
Alin
Doresc schimbarea numărului de ... detalii
-
cardul de credit a expirat, cum pot intra in posesia noului card
... detalii