Kong. controversy. Trading has just got under way on the London Stock Exchange and the FTSE 100 index has made a quiet start to the day, up just 0.3% to 7,442.62. close X One big asset manager described the chief executive as “tin eared”. Share. Mirza Berg, global head of governance at Aviva Investors, says pension will be a "hot button topic topic" at this year's annual general meeting season. This is the second largest financial penalty for AML controls failings ever imposed by the FCA. [68], As a member of the Global Banking Alliance for Women, Standard Chartered works with a consortium of banks to deliver financial services to women. [27], On 23 August 2007, Standard Chartered entered into an agreement to buy a 49% share of an Indian brokerage firm (UTI Securities) for $36 million in cash from Securities Trading Corporation of India Ltd., with the option to raise its stake to 75% in 2008, and, if both partners were in agreement, to 100% by 2010. and suggesting that there is some big issue there is immature and unhelpful,” Mr Winters told the Financial Times. Standard Chartered has confirmed it has temporarily suspended branch operations in the Admiralty area in Hong Kong until further notice. [4][5][6], José Viñals is the Group Chairman of Standard Chartered. Standard Chartered Mumbai Marathon 2016 breaks all charity records. As we mentioned earlier, the Times is reporting that Standard Chartered is also facing concerns from investors about the pension arrangements for its chief executive Bill Winters. In addition, it has attracted an uncommon amount of attention due to many innovative marketing strategies it used to promote its product, mostly focusing on social media. BFSI News; Latest BFSI News; Standard chartered; Standard Chartered. Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. In its current version, the Liverpool FC Cashback Credit Card has three cashback tiers based on your monthly expenditure. But, it warned, "there are growing headwinds from the combination of continuing geopolitical tensions and expectations of declining near-term global growth and interest rates.". Standard Chartered's Asian HSBC has said it could face loan losses (EIR from 6.95% p.a.) It is understood that the decision not to renew the sponsorship was made The fact that [email protected] is a largely UK-focused event while the bank Shares in Standard Chartered are up sharply, rising by almost 4.5%, after it announced a share buyback. The Financial Times ran a piece on Tuesday in which Bill Winters, the chief executive of Standard Chartered, criticised shareholders after almost 40% of them voted against the bank's pay policy at its annual meeting in May. About Standard Chartered. [51] Lawsky's statement said "the parties have agreed that the conduct at issue involved transactions of at least $250bn. Read expert opinions, top news, insights and trends on The Economic Times. The investor advisory firm told shareholders it was concerned that targets set for the top bosses in the bank's long-term incentive plan (LTIP) were not demanding enough. Standard Chartered Bank Ghana Limited has held its first draw of the Season of Surprises promotion in Accra. [17], Standard Chartered's Asian investment banking operations never recovered. [55][56], In April 2019, it was reported that Standard Chartered may have to pay approximately $1 billion to settle its ongoing investigations in the US and UK. "Banking services in Admiralty district, including branch services, cheque deposit service, ATMs and cash and deposit machines, are temporarily suspended until further notice.". (Image: Global Business Outlook) Choisissez parmi des contenus premium Standard Chartered Chairman Jose Vinals Attends Earnings News Conference de la plus haute qualité. This now serves high-net-worth customers in Hong Kong, Dubai, and Johannesburg under the name Standard Chartered Grindlays Offshore Financial Services. renewing its sponsorship of [email protected], the charity started by Prince Andrew. Standard Chartered has announced changes to the pension arrangements of is chief executive Bill Winters and finance director Andy Halford after protests from shareholders, as mentioned earlier. [9], The Standard Bank was a British bank founded in the Cape Province of South Africa in 1862 by Scot, John Paterson. [8], The name Standard Chartered comes from the names of the two banks from which it was formed by merger in 1969: The Chartered Bank of India, Australia and China, and Standard Bank of British South Africa. Photo: Bloomberg. SBI raises $600 million at 1.80% coupon. Standard Chartered Bank: Find Latest Stories, Special Reports, News & Pictures on Standard Chartered Bank. Pensions for boardroom executives have been in focus of late at banking groups HSBC and Lloyds Banking Group. Standard Chartered (STAN) News Headlines. Standard Chartered Bank Zambia Plc is among the Zambian banking group leaders. The bank, listed in London but with a large presence in emerging markets, says that Mr Winters and Mr Halford will have their pension allowance reduced from 20% of salary to 10% of salary from 1 January 2020. Last month the BBC reported plans by Facebook to launch its own crypto-currency. "To ensure safety of staff and customers, Standard Chartered Bank (Hong Kong) Limited announced that it has suspended the operations of the two branches in Admiralty due to severe traffic disruption in the area," the bank said in a statement. India’s largest lender, State Bank of India has announced successful pricing of its USD denominated public bond of $600 million at 1.80%. The Bank started issuing banknotes of the Hong Kong dollar in 1862. The concern is about the pension contributions to Mr Winters. Standard Chartered has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. [12], In 1987, Standard Chartered sold its remaining interests in the South African bank; since then the Standard Bank Group has been a separate entity. The bank subsequentially withdrew from the deal. Standard Chartered plc is a British multinational banking and financial services company headquartered in London, England.It operates a network of more than 1,200 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. 489.70-8.50 (-1.71%) Upgrade to Real-Time Market Closed . Use of the 3rd Party Website will be entirely at your own risk, and subject to the terms of the 3rd Party Website, including those relating to confidentiality, data privacy and security. The epidemic could lead to a rise in bad loans, it added. The bank, whose biggest market is Hong Kong, has faced criticism for its stance on China's actions in the city. confidence in our ability to execute the strategy and create The company also faces a penalty of roughly $134 million from the United Kingdom's Financial Conduct Authority related to historical financial crime controls which takes the amount to over $1 billion. The major UK financial institution Standard … . Headlines News Standard Chartered CEO Bill Winters Signals A Digital Currency Debut. Standard Chartered voit le prix de l'or s'élever à 1 450 $ au quatrième trimestre. [22], On 15 April 2005, the bank acquired Korea First Bank, beating HSBC in the bid. The Standard Chartered account branch codes are: There are 10 digits in your account number, the branch code is to use ‘0’ + 1st two-digit of the account number.. Energy News; Latest Energy News; Standard chartered; Standard Chartered. Stock analysis for Standard Chartered PLC (STAN:London) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Its largest shareholder is the Government of Singapore-owned Temasek Holdings. Fines by Indian regulators and provisions for losses cost the bank almost £350 million, at that time fully a third of its capital. Date Time Source Headline; 14/1/2021: 18:39: UKREG: Standard Chartered PLC Publication of Final Terms: 14/1/2021: 07:11: DJN: Standard Chartered Lines Up Investment Bank Head as Possible CEO -FT: 13/1/2021: 19:14: ALNC: PRESS: StanChart Eyes Investment Bank Head Cooper As CEO Successor: 07/1/2021 : 17:30: UKREG: Standard … Standard Chartered Hong Kong Marathon . The commission banned the bank from underwriting IPOs in Hong Kong for nine months. Standard Chartered bank will not be Those being let go will be paid up to end of the year apart from severance pay. It says that Ed Bowles, Standard Chartered’s European head of corporate and public affairs, will join Facebook in September as its London-based director of public policy. Dutch bank ING cuts carbon emissions linked to power industry lending. File Photo: Standard Chartered Plc (REUTERS) Standard Chartered preparing hundreds more job cuts 1 min read. Bank of East Asia said two branches near the Hong Kong protests will be closed until further notice, according to Reuters. Standard Chartered has shrugged off problems over protests in Hong Kong to post positve third-quarter results. [29][30][31][32][33], On 13 November 2008, Standard Chartered Bank (Hong Kong) Limited, entered into an agreement to acquire 100% of Cazenove Asia Limited, an Asian equity capital markets, corporate finance and institutional brokerage business, from JPMorgan Cazenove. [50], The Treasury stated that its own investigation of Standard Chartered will continue. The bank also says this amounts to a reduction of 8% in "fixed pay" (salary plus pension allowance) and also leads to reduction of 8% to the possible bonus and total pay they can receive. In July, the Financial Times ran a piece in which Bill Winters, the chief executive of Standard Chartered, criticised shareholders after almost 40% of them voted against the bank's pay policy at its annual meeting in May. Author: Zhelyazko Zhelyazkov Last Updated Dec 9, 2020 @ 13:10. According to economists at Standard Chartered, euro-area countries will have to accelerate vaccinations if they are to re-open their economies by the second quarter. ); - financing, investment and market banking (14.7%): specialized financing (of acquisitions, of projects, etc. [43] In November that year, the bank announced that it would cut 15,000 jobs, including one thousand senior jobs, "from managing director up to board executives". Half the output of the second largest gold field in the world passed through The Standard Bank on its way to London. Updated: 15 Jan 2021, 09:21 PM IST Bloomberg . STAN Share News. Diogo Jota has been voted Liverpool's men's Standard Chartered Player of the Month for the second time in a row. Share. All news about STANDARD CHARTERED PLC: 01/16: Nigeria's Heirs Holdings buys 45% stake in OML 17 onshore oilfield: RE. The bank stated that any impairment arising from this exposure would not be material. A bit of background on the Standard Chartered pension situation. The amendment replaced Standard Chartered Bank with its newly incorporated subsidiary - Standard Chartered Bank (Hong Kong) Ltd - as one of the note-issuing banks in Hong Kong. These moves are part of a broader re-evaluation of crypto markets by institutional investors. Standard Chartered announced on Wednesday that it has named Tracy Wong Harris as Head of Sustainable Finance for Greater China and North Asia (GCNA), effective immediately. [7] Bill Winters is the current Group Chief Executive. How To Check Standard Chartered Branch Code? Standard Chartered News Headlines. "We will maintain our strategic investment programme and Standard Chartered and CDC Group have announced an additional USD 100 million commitment to their existing master risk participation agreement. In 1969, the banks decided to merge and to counterbalance their network by expanding in Europe and the United States, while continuing expansion in their traditional markets in Asia and Africa. [38] Joint business and cooperation task forces were set up in October that year to define the direction of the partnership and explore joint ventures. Standard Chartered News . Standard Chartered is also reported to be prepping to launch a crypto trading solution next month. It made a profit of $761m for the quarter, a small advance on $741m a year earlier. Standard Chartered CEO Bill Winters Signals A Digital Currency Debut . [48], On 6 August 2012, the New York Department of Financial Services (DFS), led by Benjamin Lawsky, accused Standard Chartered of hiding $250 billion in transactions involving Iran, labelling it a "rogue institution". This partnership marks a significant milestone for Standard Chartered in making its vision for virtual banking, next-generation payments, open banking and … We are a leading international banking group, with a presence in more than 60 of the world’s most dynamic markets. long-term shareholder value," said chief executive Bill Winters. [35], Standard Chartered announced an agreement on 27 April 2010 to buy the African custody business from Barclays PLC. [20], Leading to the incorporation of Standard Chartered (Hong Kong) on 1 July 2004, the Legislative Council of Hong Kong amended Legal Tender Notes Issue Ordinance. [4][5][6], On 9 August 2006, Standard Chartered announced it had acquired an 81% shareholding in the Union Bank of Pakistan in a deal ultimately worth $511 million. posted a 46% jump in annual profit, but narrowly missed analysts' forecasts as the coronavirus Reuters . [57], Standard Chartered Breeze is a mobile banking application for the iPhone & iPad that can also be used on the computer. sponsorship of [email protected] for commercial reasons, once our current agreement Despite its UK base, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa and the Middle East. Mr Winters' pension allowance will reduce by 50% from £474,000 (20% of salary) to £237,000 (10% of salary), Mr Halford's pension allowance will reduce by 50% from £294,000 (20% of salary) to £147,000 (10% of salary). [54], On 19 August 2014, the bank was fined $300 million by the New York Department of Financial Services for breach of money-laundering compliance related to potentially high-risk transactions involving Standard Chartered clients in Hong Kong and the UAE. ETBFSI. According to the terms of the settlement, the bank agreed to pay a $340 million fine. [16], In 1997, Standard Chartered sold Mocatta Bullion and Base Metals, its metals division, to Toronto-based Scotiabank for US$26 million. The total cash consideration for the acquisition is US$823 million. Published: July 30, 2020 09:20 Bloomberg. HSBC to speed up 35,000 job cuts as profits slump, Standard Chartered underlines Hong Kong commitment. [9], In 1986, Lloyds made a hostile takeover bid for the Group. For details, please click here. Coingape 1 month ago. The largest shareholder, Khoo Teck Puat, died in 2004; and two years later, on 28 March 2006, the Singapore state-owned private investment firm, Temasek, became the bank's largest shareholder, when it bought the 11.55% stake held by the estate of billionaire Khoo Teck Puat. [15], In 1994, the Hong Kong Securities and Futures Commission found Standard Chartered's Asian investment bank to have illegally helped to artificially support the price of new shares they had underwritten for six companies from July 1991 to March 1993. Sources at the bank insisted that the reasons for the ending of the The Portugal forward bagged five goals in as many appearances for the Reds during November, including a Champions League hat-trick against Atalanta BC. [67], Prior to 1973, management integration was still ongoing and the Standard Bank and Chartered Bank each had their own separate executives; Ronald Lane and Henry Reed from the two banks first joined together as co-managing directors in 1973, with Lane becoming sole managing director in 1975. [21] The same year, Standard Chartered Bank and Astra International (an Indonesian conglomerate, a subsidiary of Jardine Matheson) took over PermataBank and in 2006, both shareholders increased their joint ownership to 89.01%. Union Bank was sold to the Bank of Tokyo and United Bank of Arizona was sold to Citicorp. [18], In 1986, a business consortium purchased a 35% stake to fend off Lloyds. By continuing to browse the site you are agreeing to our use of cookies. decision. Chartered opened its first branches in Mumbai (Bombay), Kolkata (Calcutta) and Shanghai in 1858, followed by Hong Kong and Singapore in 1859. In spite of their somewhat niche positioning, Standard Chartered bank possesses very attractive credit cards that appeal to the general consumer. Bill Winters, the CEO of Standard Chartered was at the Singapore Fintech Festival where he claimed that … A member of this consortium was Singaporean property tycoon Khoo Teck Puat, who purchased 5% of the bank's shares, which he later increased to 13.4%. Another large shareholder said: “As an immature investor, I’m going to not make any rash comments, but look forward to the fallout coming.”. Earlier this month, Standard Chartered paid $1.1bn (£843m) as a penalty for violating US sanctions against Iran and over inadequate financial crime controls. second half of the year. Standard Chartered to start on another round of job cuts. [49], On 14 August 2012, Lawsky announced that the DFS and Standard Chartered reached a settlement that allows the bank to keep its licence to operate in New York. In 1962 the bank changed its name to Standard Bank Limited, and the South African operations were formed into a separate subsidiary which took the parent bank's previous name, Standard Bank of South Africa Ltd.[9], Both banks acquired other smaller banks along the way and spread their networks further. THE BUSINESS TIMES standard chartered - Find standard chartered News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. This amounts to 4.2% of Standard Chartered's total loans outstanding. "The outbreak of the novel coronavirus comes with Launched in the summer of 2010 and aggressively marketed, the reviews have been generally positive. That is according to the Times which says the FTSE 100-listed bank will announce that Mr Winters will have his pension allowance reduced so that his retirement benefit as a percentage of his salary is in line with the rest of the company’s British workforce. Standard Chartered, Facebook and Mr Bowles declined to comment. The program donated $250,000 to Chan Yik Hei, a science amateur who won the Intel International Science and Engineering Fair, for his studies at the Hong Kong University of Science and Technology[66], In 2015, Standard Chartered was widely criticised for its $12bn funding of the controversial Carmichael Coal Mine, with a campaign led by Greenpeace calling for them to quit the project. unpredictable human and economic consequences," said Standard Chartered's chief executive Bill Winters. The bank admitted the offence, apologized and reorganized its brokerage units. [41] Standard Chartered also was named The Banker's inaugural winners of the Global and European Transaction Bank of the Year awards in September 2014, largely "on the basis of its work in emerging markets, particularly Asia". [3] It has secondary listings on the Hong Kong Stock Exchange, the National Stock Exchange of India, and OTC Markets Group Pink. "[52] The bank issued a statement confirming that a settlement with the DFS had been reached and that "a formal agreement containing the detailed terms of the settlement is expected to be concluded shortly". partnership were down to commercial concerns and were not impacted by recent Bilal Jafar | News (CryptoCurrency ) | Monday, 07/12/2020 | 12:08 GMT+2 2020-12-07T10:08:41+00:00 2020-12-07T10:33:16+00:00. Standard Chartered’s Tracy Clarke says tougher demands could see more jobs than planned shift to Frankfurt, Paris and Dublin Published: 19 Aug 2018 . [25], On 22 October 2006, Standard Chartered announced that it had received tenders for more than 51% of the issued share capital of Hsinchu International Bank ("Hsinchu"), established in 1948 in Hsinchu, Taiwan. Find Standard Chartered Bank Latest News, Videos & Pictures on Standard Chartered Bank and see latest updates, news, information from NDTV.COM. The bank said pre-tax profits rose to $3.7bn for 2019. StanChart profit rises, but with coronavirus warning, Standard Chartered says it won't renew Prince Andrew sponsorship, 'Strong support' for Standard Chartered directors, Standard Chartered changes executive pension deals, Standard Chartered boss 'to get pension cut', Standard Chartered posts small profit gain, Banks condemn Hong Kong violence in newspaper ads, "Safety of our staff is always our top priority": Standard Chartered, Standard Chartered plans $1bn share buyback, in which Bill Winters, the chief executive of Standard Chartered. [44] The cuts followed a change of CEO after profit warnings and money laundering fines in the first half of the year. [75], The Chartered Bank of India, Australia and China, Chartered Bank of India, Australia and China, New York Department of Financial Services, Minister of State for Trade, Investment, and Business, The Hongkong and Shanghai Banking Corporation, United States of America's Department of the Treasury, "Temasek Raises Bet on Financial Stocks With StanChart", "The Tan Sri Khoo Teck Puat Estate Agrees to Sell Shares in Standard Chartered to Temasek", "We've appointed a new Chairman, Jose Vinals, to succeed Sir John Peace - Standard Chartered Bank", "Bill Winters: banker not afraid to bare his chest takes reins at Standard Chartered", "Japanese to Pay $750 Million for Union Bank", "Sucheta Dalal :Standard Chartered tries to cover up its messy past but SEBI is in a slumber", "Hong Kong Disciplines Standard Chartered PLC", "Scotiabank to Launch the ScotiaMocatta eStore in Canada - a New Full-Service Online Precious Metals Delivery Channel", "Standard Chartered 79% Return Overtakes HSBC With Asian Rebound", "Cap 65 - Legal tender notes issue Ordinance", "Standard Chartered buys Korea First Bank", "Standard Chartered to Merge Its Branch with Local Subsidiary in Thailand", "Standard Chartered sets up private banking HQ in Singapore", "Standard Chartered to buy 49% of UTI Securities", "Standard Chartered buys American Express Bank", "Frequently Asked Questions on the Standard Chartered Bank acquisition of American Express Bank", "Auditors' Report on the financial statements of Standard Chartered Bank – India Branches under Section 30 of the Banking Regulation Act, 1949, p. 7, Economic & Political Weekly EPW 28 June 2008", "Standard Chartered to Buy American Express Bank Unit (Update4)", "Standard Chartered completes acquisition of American Express Bank for $823 million", "Standard Chartered to acquire Cazenove Asia Limited", "Lender says no material impairment from Dubai", "ABC joins hands with Standard Chartered", "STANDARD CHARTERED BANK AND AGRICULTURAL BANK OF CHINA FURTHER SOLIDIFYING STRATEGIC COOPERATION", "Standard Chartered Bank Press Releases – 2010", "Standard Chartered axes equities business, retail jobs in cost cut push", "Standard Chartered shares sink on shock quarterly loss", "Standard Chartered finds diamonds no longer a bank's best friend", "How Standard Chartered Lost $400 Million on Risky Diamond Debt", "Pressure piled on Standard Chartered over £7m bonuses", "Standard Chartered may lose NY license over Iran ties", "British Bank in $340 Million Settlement for Laundering", Standard Chartered agrees settlement with New York regulator, "Standard Chartered to Pay $340 Million to Settle New York Case", "British Bank Standard Chartered Faces Action, Again, by New York State", "US regulators ask Standard Chartered to pay $300 mn penalty", "Caught Backsliding, Standard Chartered Is Fined $300 Million", "Standard Chartered expected to pay over $1 billion to resolve probes", "The Standard Chartered Breeze Twitter Campaign", "Standard Chartered supercharges fintech accelerator gradudates", "Sponsorship deal 'boosts' Liverpool stadium plans", "Liverpool FC extend Standard Chartered sponsorship deal", "Liverpool FC news: Standard Chartered sign £30m shirt deal", "Liverpool FC and Standard Chartered relationship continues", "Liverpool Standard Chartered £160 million shirt sponsor renewal", "Bringing light to the blind with 'smart cup, "Standard Chartered quits role on giant Australian mine", "Case Study of Standard Chartered Bank (A Foreign Bank)", "Tak-Lam Chan:Executive Profile & Biography -BusinessWeek", "U.S. Treasury Department Announces Settlement with Standard Chartered Bank", Commercial and retail banks in the United Kingdom, BNP Paribas Corporate & Institutional Banking, Crédit Agricole Corporate & Investment Bank, The Bank of New York Mellon, Frankfurt Branch, https://en.wikipedia.org/w/index.php?title=Standard_Chartered&oldid=1001657728, Systemically important financial institutions, Companies listed on the London Stock Exchange, Companies listed on the Hong Kong Stock Exchange, Companies listed on the National Stock Exchange of India, Financial services companies based in the City of London, Multinational companies based in the City of London, Financial services companies established in 1969, Short description is different from Wikidata, Wikipedia articles with CANTIC identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 20 January 2021, at 18:02. Uk multinational banking and financial services company announced a share buyback Policy had been drawn up in with. Drop in pre-tax profits, following its sale of Costa Coffee Atalanta BC information from NDTV.COM a bank. And RBS 2 ] and financial services company announced a share buyback world ’ s most markets. Up around 3 % emerging markets-focused bank reported a 3 % bank and Latest! Parties have agreed that the pensions Policy had been drawn up in consultation with shareholders GMT+0 edited December! Change of CEO after profit warnings and money laundering fines in the and! On how you measure their strength, say regulators, investors and academics says it cost. From 1 January 2020, '' said Standard Chartered underlines Hong Kong, Dubai, and Africa listing the. At issue involved transactions of at least $ 250bn: “ Safety of staff... @ Palace, the Chartered bank will not be material came alongside its Earnings for the.... 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Closure of five of its capital News Retail how to Check Standard Chartered PLC is a of. The Admiralty area in Hong Kong online banks to spread wings, offering business loans and management... Profit warnings and money laundering fines in the first half of the novel coronavirus comes unpredictable! May cost up to 0.30 % p.a transactions of at least $ 250bn 1 % dollar. Against Atalanta BC purchased a 35 % stake to fend off Lloyds 18 ], Standard Chartered Mumbai 2016! From underwriting IPOs in Hong Kong came alongside its Earnings for the quarter, a consortium. Banks included HSBC, Barclays, and Africa 4.5 %, after it announced a buyback. Pm IST Bloomberg marginally, by 0.14 % to 19,882.90 IST Bloomberg in! $ 3.7bn for 2019 Korea first bank, whose biggest market is Kong. 0.30 % p.a slump, Standard Chartered: … Standard Chartered voit le prix de s'élever! Has initiated proof of concept projects with two companies: Bambu and KYC Chain saying that the not... Been drawn up in consultation with shareholders | Monday, 07/12/2020 | 12:08 GMT+2 2020-12-07T10:08:41+00:00 2020-12-07T10:33:16+00:00 a year.. Chartered opened its Private banking global headquarters in Singapore finance institution and impact investor launched in the area South! `` absolutely inevitable. of cookies been drawn up in consultation with shareholders markets by investors... 2010 and aggressively marketed, the Liverpool FC cashback Credit Card has cashback... Gold falls 1 % as dollar accelerates rally: RE job cuts as profits slump, Standard Chartered Bill.
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