May 14, 2022
  • May 14, 2022

Central Banks

Singapore: COSMIC Anti-Money Laundering Platform

by on October 1, 2021 0

A digital sharing platform is being developed by the Singapore Central Bank with the aim of combating money laundering and other financial schemes that fund illegal activities. The platform, expected in the first half of 2023, will exchange data with six of the region’s largest commercial financial institutions (FIs), the Monetary Authority of Singapore...

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Business This Week | The Economist

by on October 1, 2021 0

October 2, 2021 Listen to this story Your browser does not support the item . Enjoy more audio and podcasts on ios Where Android. Janet Yellen, Secretary of the United States Treasury, has given her strongest warning yet on the potential consequences of not raising the federal rate debt limit, saying it would be...

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Celo introduces Provo, a sandbox for central banks to explore digital currencies

by on September 30, 2021 0

Celo, the first mobile blockchain focused on emerging markets, announced the launch of Provo, a value-added sandbox for public and official sector experimentation on the Celo blockchain. Through Provo, central banks can explore and experience central bank digital currencies and other digital assets. According to Celo, the Provo service will allow central banks to...

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Central Bank’s Digital Currencies Could Lower Costs of Cross-Border Payments and Speed ​​Transactions to Seconds, BIS Says | Currency News | Financial and business news

by on September 28, 2021 0

Banknotes around the world. Thomson reuters Digital fiat currencies could reduce costs and time associated with cross-border payments, the Bank for International Settlements said. The BIS presented the results of testing a prototype digital currency platform as part of the mCBDC Bridge project. The prototype showed that payment transactions could be completed in seconds...

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2 senior Fed officials resign after trading backlash

by on September 27, 2021 0

Following the controversy, Fed Chairman Jerome Powell pledged to tighten central bank ethics rules. In announcing his resignation, Kaplan said he “adheres to all of the Federal Reserve’s ethical standards and policies,” but added that he was leaving because “the recent emphasis on my financial disclosure may become a distraction. “for the political work...

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Latin America Inflation Threat Sparks More Hikes: Green Week

by on September 25, 2021 0

(Bloomberg) – Latin America’s fight against soaring consumer prices is expected to shift to a new front this week, with Colombia set to become the region’s fifth-largest economy under a targeting regime. inflation aimed at tightening monetary policy. Bloomberg’s Most Read Bogota’s central bank is almost certain to join its peers on Thursday and...

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Wall Street posts weekly gains as bond yields rise

by on September 24, 2021 0

Newsletter: Not covered The most important market trends and how the best minds on Wall Street are responding to them. Delivered every day of the week. Stocks on Wall Street faltered on Friday and public debt was liquidated as investors closely watched the ongoing Evergrande crisis and digest hawkish signals from several major central...

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Ripple partners with central bank of Bhutan to pilot CBDC

by on September 23, 2021 0

The Royal Monetary Authority (RMA) – the central bank of Bhutan – has partnered with Ripple to launch a digital version of its national currency. The institution anticipates the initiative to increase the country’s financial inclusion by 85% in the next two years. Ripple and Bhutan shake hands Enterprise blockchain provider Ripple has announced...

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Central banks look to two-tier retail CBDC model amid disruption fears

by on September 23, 2021 0

Source: AdobeStock / pedrosala According to a recent report by an international risk assessment firm Moody’s. “Based on the existing and proposed pilot programs, the development of the CBDC is done in conjunction with the existing financial market infrastructure, the two-tier model,” the report said, adding: “Under this approach, banks and other financial intermediaries...

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Reclaiming central banks by Ann Pettifor

by on September 21, 2021 0

By serving private capital markets rather than citizens and taxpayers, central banks are a major obstacle to meaningful climate action. Half a century after US President Richard Nixon and his advisers reshaped the international monetary system, now we must transform it again. LONDON – Fifty years ago, a US president closed the gold window,...

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Should central banks take climate change into account when formulating monetary policy? Here’s what Kenneth Rogoff has to say

by on September 18, 2021 0

“Central banks must think about preserving financial stability, stability of inflation, they are not responsible for imposing a carbon tax,” said Kenneth Rogoff, professor of economics at Harvard University. An unusual question has been raised in the central bank’s public debates by an unusual person. Urjit Patel, former Governor of the Reserve Bank of...

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Crypto assets are absolutely not currencies, says European Central Bank President Christine Lagarde

by on September 17, 2021 0

European Central Bank (ECB) President Christine Lagarde draws a hard line between crypto assets and traditional currencies. In a new interview on David Rubenstein’s show, Lagarde explains why she thinks the word “cryptocurrency” is a misnomer. “Cryptos are not currencies – period. Cryptos are highly speculative assets that claim their fame as a currency,...

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How green is my central bank

by on September 16, 2021 0

Green bonds and other bonds, and fixed income assets offer an explicit and ex ante guarantee of carbon neutrality The subjectsBS Reviews | Central banks The Bank of Finland has announced that its investment portfolio will be carbon neutral by 2050. While reading, I found many Western central banks making similar announcements. Confusing. A...

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Mendota reporter | Hessenberger of the Central Bank graduated from the banking school

by on September 15, 2021 0

PERU – Rick R. Clary, President of Community Bank, announces the graduation of Linda Hessenberger from the Graduate School of Banking at Central Bank Illinois. Hessenberger of Mendota graduated Aug. 13 during the opening exercises at the 76th annual session of the prestigious Graduate School of Banking at the University of Wisconsin-Madison. Hessenberger also...

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Crypto Firms Want Access to Fed Payments Systems, Banks Are Resisting

by on August 28, 2021 0

WASHINGTON — Cryptocurrency companies want to tap into Federal Reserve payment systems that traditional banks use to move money quickly. The banks are retreating. The companies include Avanti Bank, which aims to provide custodial services to institutional investors in cryptocurrencies, and Kraken, a cryptocurrency exchange. They say direct access to the Fed’s payment systems...

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Rwanda: central bank removes push and pull charges

by on August 23, 2021 0

No fees or charges will now be incurred when transferring funds from their bank account to their mobile money wallet and vice versa (push and pull fees). The Central Bank removed costs in its latest directive in an attempt to promote efficiency and protect users. The directive, which comes into force immediately, prohibits fees...

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The abundance of liquidity in the financial system will not go away even after the Fed cuts its bond purchases

by on August 6, 2021 0

There is an abundance of liquidity floating around the financial system, thanks to the Federal Reserve’s efforts to support the U.S. economy since the outbreak of the pandemic in March of last year. And even if the central bank completes cutting its $ 120 billion in monthly bond purchases next year, “liquidity should continue...

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Nifty and Sensex win ahead of RBI meeting

by on August 4, 2021 0

A security guard walks past the Indian National Stock Exchange building in Mumbai, India. Dhiraj Singh | Bloomberg | Getty Images Indian stocks hit a record high on Wednesday as investors remained bullish amid the corporate earnings season and ahead of the central bank policy meeting. The Nifty 50 index rose 0.79% to 16,258.05,...

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Why foresight needs to be guided

by on August 3, 2021 0

In the years leading up to the financial crisis, central banks around the world were given additional tools to help maintain the stability of the financial system. Among these was forward guidance – a new communication tool to help central banks communicate with the market and the public on economic prospects and future political...

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Lake County News, California – The next great financial crisis could be triggered by climate change – but central banks can prevent it

by on July 20, 2021 0

Climate change and policies to prevent it can shake up the economy. Citizen of the Planet / Education Images / Universal Images Group via Getty Images In 2008, as big banks started to go bankrupt on Wall Street and as the housing and stock markets collapsed, the country saw how crucial financial regulation is...

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Three little birds – When lawyers run central banks

by on July 17, 2021 0

Get up this morning I smiled with the rising sun Three little birds Location near my door Sing sweet songs Pure and true melodies Sayin ‘, “This is my message to you-or-or:” Singing: “Don’t worry about nothing, worry about nothing, oh! Every little thing will be fine. Do not worry!” Singing: “Don’t worry about...

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Rise Fall Central Bank Digital Currency

by on July 16, 2021 0

Bitcoin’s popularity has sparked a race for digital currency dominance, which is expected to intensify with the emergence of central bank digital currencies (CBDCs). In a survey carried out in 2021 among central banks, 86% of respondents indicated that they are actively seeking the potential of CBDCs. The question is, how will CBDCs live...

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UPDATE 2-Philippine c.bank will continue to support growth until recovery is underway

by on July 15, 2021 0

By Karen Lema, Neil Jerome Morales (Add details on quarantine restrictions) MANILA, July 15 (Reuters) – The monetary policy of the Philippine central bank will remain favorable for the economy until the recovery is “firmly underway,” its governor said on Thursday, while assuring markets that it would clearly communicate its exit strategy from the...

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Central banks denounce inequalities

by on July 7, 2021 0

Data: BIS via Deutsche Bank; Graphic: Axios Visuals The world’s central banks are increasingly using their powerful platform to highlight inequalities. Why is this important: Central banks control the money supply and interest rates, which affects funding costs for everyone. Get market news worthy of your time with Axios Markets. Subscribe for free. Historically,...

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Investments by authorized banks in international sovereign bonds

by on July 5, 2021 0

Communications management 05.07.2021 Investments by authorized banks in international sovereign bonds The Central Bank of Sri Lanka (CBSL) wishes to provide the general public and the investment community with the following information, while refuting statements by rating agencies which continue to undermine the stability of the banking sector and fuel speculation regarding investments by...

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Monetary policy around the world is too loose

by on June 26, 2021 0

This commentary was posted recently by fund managers, research firms, and market newsletter writers and was edited by Barron’s. June 24: Is monetary policy backtracking in this highly unusual cycle? Markets only took a fleeting blow from the Fed’s slight pullback from uber-dovishness last week, as the big picture is that almost all central...

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China tests digital yuan in salary payments

by on June 15, 2021 0

Share Tweeter Share Share Share E-mail The digital yuan is now in play in the new Chinese zone of Xiong’an, CoinDesk reported. The district, located about 100 kilometers south of Beijing, has served as a testing ground for new economic ideas, according to the report. The digital yuan, a central bank digital currency (CBDC),...

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European Central Bank drops predictive pessimism

by on June 12, 2021 0

/ forum The European Central Bank has made the biggest revision of its macroeconomic outlook for the coming years since the start of the pandemic. Analysts have clearly raised the expected price of GDP, which, according to forecasts today, will be in about two years at the level which would have been without the...

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Thai central bank allows banks to pay interim dividends

by on June 11, 2021 0

BANGKOK, June 11 (Reuters): Thailand’s central bank has allowed banks to pay interim dividends as lenders are strong with sufficient capital to withstand the impact of COVID-19 outbreaks, the governor said. Banks are allowed to pay interim dividends not exceeding last year’s dividend payment rates and up to 50% of net profits in the...

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France opens an investigation into the corruption of the head of the central bank of Lebanon | News from banks

by on June 7, 2021 0

French prosecutors have opened a preliminary investigation into money laundering allegations against longtime Lebanese central bank chief Riad Salameh, who is also accused of being associated with an organized criminal group. French prosecutors have opened a preliminary investigation into money laundering allegations against the governor of Lebanon’s central bank, the prosecutor’s office said on...

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“Bitcoin will be remembered for pushing central banks to adopt digital currency,” says CEO of Europe’s largest asset manager

by on June 6, 2021 0

Amundi’s Chief Investment Officer (CIO), who complaints to be the largest asset manager in Europe (with € 1.755 trillion in assets under management as of March 31, 2021, Bitcoin spoke at a recent press conference. According to a item by Newsweek (who used a report by Reuters as source) published Thursday 3 June, Amundi...

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G7 edict includes statement on central bank digital currency

by on June 5, 2021 0

G7 finance ministers, as well as several international organizations, have met in recent days in the UK to discuss “building a strong, sustainable, balanced and inclusive global economic recovery”. Between the goal of creating a 15% global minimum tax targeting big tech companies and creating a “green global financial system” was a statement on...

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ANZ, Westpac see Australian bank adopt flexible bond purchase plan in July

by on June 4, 2021 0

SYDNEY, June 4 (Reuters) – Economists from Australia’s two main lenders expect the country’s central bank to switch to a “flexible” quantitative easing (QE) program, underlining uncertainty over its possible decision to reduce its extraordinary stimulus plan. Westpac Banking Corp and ANZ Banking Group now expect Reserve Bank of Australia (RBA) to announce weekly...

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Potential storms ahead in the banking sector

by on June 3, 2021 0

Panelists discuss the possible impact of corporate bankruptcies on European banks emerging from the pandemic and note that central banks are juggling digital currencies; unable to stop their arrival but must still organize progress and ensure that technology does not weaken financial stability. The session examined structural trends in the financial sector that have...

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Supervisors step up pressure on banks to tackle climate risk

by on May 31, 2021 0

Two motorized paragliders circled the headquarters of the European Central Bank earlier this year, before landing there to unfurl a bright yellow Greenpeace banner declaring “Stop funding climate killers”. The message to the region’s monetary policy makers was clear. The specific target of the protesters was the more than 300 billion euros in bonds...

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Central Bank of Kuwait warns against crypto-assets

by on May 29, 2021 0

The Central Bank of Kuwait has warned citizens against trading in cryptocurrencies amid growing investor concerns. Image Credit: Provided Dubai: The Central Bank of Kuwait has warned citizens against trading in cryptocurrencies amid growing investor concerns. The CBK warning follows recent crazy swings in the valuations of major global crypto currencies such as Bitcoin,...

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Cathie Wood says central banks could add crypto to their balance sheets. Here is the list of bitcoin skeptical central bankers who think otherwise. | Currency News | Financial and business news

by on May 28, 2021 0

Cathie Wood is CEO and Chief Investment Officer of ARK Invest, which manages three of the most profitable ETFs of the past three years. ARK Invest Superstar investor Cathie Wood said on Thursday that central banks in emerging markets may add cryptocurrencies to their balance sheets to hedge against the effects of deflation as...

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The vigilance of the Fed’s regional banks endangers the independence of the central bank

by on May 25, 2021 0

Georgia Republican gubernatorial candidate Vernon Jones argues critical race theory has no place in classrooms and explains why he is challenging Gov. Brian Kemp in the GOP primary. Regional Federal Reserve Banks are taking an increasingly “alarming” stance on politically charged issues like racial justice, according to Sen. Pat Toomey, a Republican from Pennsylvania...

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