For Nkiru Uwaje, co-founder and chief operating officer of trade payments group Mansa, stablecoins are an integral part of her daily corporate life. The tokens, a form of cryptocurrency that acts like cash, account for 90 per cent of business activities at the group, which helps small businesses in Africa, south-east Asia and South America....Read More
Report highlights how direct lenders are forging increasingly close ties to more tightly regulated financial groups Bank lending to the $1.6tn private credit industry may pose systemic risks to the US financial system during an economic downturn, the Federal Reserve’s Boston branch warned on Wednesday. Boston Fed economists said in a paper that US lenders...Read More
Industry may become a ‘locus of contagion’ during market upheaval, report from US officials and bankers says Private credit is now so intertwined with big banks and insurers that it could become a “locus of contagion” in the next financial crisis, a group of economists, bankers and US officials has warned. Researchers from Moody’s Analytics,...Read More
Investors’ concerns about US policymaking and Fed independence weigh on greenback and bonds The close relationship between US government bond yields and the dollar has broken down as investors cool on American assets in response to President Donald Trump’s volatile policymaking. Government borrowing costs and the value of the currency have tended to move in...Read More
The Central Bank of Cyprus (CBC) publishes today the release of the House Price Index (HPI) for the 2nd quarter of 2023. The quarterly bulletin, which includes a review of index results and developments in the housing market, as well as relevant time series, is available on the CBC’s website.Click here. For more information on the...Read More
FCA, the UK’s financial regulator, is preparing to launch a sweeping review of valuations in private markets, amid growing fears over the impact of higher borrowing costs on the sector. The FCA’s exercise will be looking at who within a firm is accountable for valuations, how information about those valuations is passed upwards to the...Read More
Italy’s government latest amendments on windfall tax enable banks/lenders to opt out of the tax if they allocate 2.5 times the amount that would have been owed under the tax to strengthening their core tier-one capital reserves. The amendment also caps the tax at 0.26% of banks’ risk-weighted assets instead of 0.1% of total assets....Read More
German asset manager DWS has agreed to pay US$19mn to settle charges brought by the US Securities and Exchange Commission (SEC) over greenwashing allegations, the highest penalty related to environmental, social and governance criteria against an investment adviser imposed to date by SEC. The company, majority-owned by Deutsche Bank, was charged by the US SEC...Read More
AI apps link to accounts to assist with spending, saving, debts and more. Most ordinary consumers don’t have access to a personal financial adviser, but a growing number of AI services are promising to change that by offering tools to help spenders track their expenditure and give advice on how best to manage their money....Read More
