The International Monetary Fund (IMF) has dismissed claims by the Economic Coordination Committee (ECC) of Pakistan that the IMF has blocked funds to the country. The ECC had previously accused the IMF of blocking a $450 million loan to Pakistan, which it said was needed to bridge the country’s budget deficit. However, the IMF has […]
In a move aimed at balancing economic growth and inflation, the U.S. Federal Reserve has announced a small rate hike despite global banking turmoil. The central bank raised the federal funds rate by a quarter of a percentage point to a range of 0.75% to 1%, citing an improving economy and job market as reasons […]
As the banking industry faces a challenging economic landscape, all eyes are on the Federal Reserve and its decision on interest rates. The banking industry has been facing numerous challenges, including rising inflation, concerns over loan defaults, and increasing competition from fintech startups. The Federal Reserve’s decision on interest rates is critical for the banking […]
The Australian Prudential Regulation Authority (APRA) has reportedly requested risk reports from banks regarding their dealings with startups and cryptocurrencies. The regulator is said to be concerned about the potential risks associated with these emerging industries, including money laundering, cybersecurity threats, and reputational risks. The regulator is specifically interested in the risk management practices of […]
First International Bank has presented financial statements that show growth across all areas of its core operation. In 2022, credit to the public increased by 14.7% to NIS 117,156 million, with business credit growing by 22.7% and credit to households and residential loans growing by 7.6%. Net deposits by the public grew by 9.7% to […]
First Republic Bank’s shares soared more than 20% in Tuesday’s pre-market trading, leading a rally in regional bank shares. The surge comes after a recent speech by Treasury Secretary Janet Yellen, in which she indicated that the government could backstop deposits at more banks if there was a risk of contagion. Investors had been worried […]
In a major move to combat climate change, the International Finance Organization (IFO) has announced a $2 billion funding initiative for climate change projects around the world. The funding will be used to support renewable energy, sustainable agriculture, and other projects aimed at reducing greenhouse gas emissions and mitigating the impact of climate change. According […]
The biggest banks in the United States have shifted to shore up First Republic Bank in an endeavor to alleviate suspicions that the provincial lender could be next one to collapse after the second-largest banking spill in US history. A company of 11 private US banks, comprising Bank of America, Citigroup and JPMorgan Chase, declared […]
Asian stock markets plunged Thursday after Wall Street slumped as a decline in CS shares reignited concerns about a feasible bank problem pursuing the disappointment of two U.S. lenders. Shanghai, Tokyo, Hong Kong and Sydney all lowered, changing Wednesday’s increases. Oil expenditures fringed elevated. Wall Street’s benchmark S&P 500 forfeited 0.7% on Wednesday after being down […]
Ratings giant Moody’s has cautioned of additional discomfort along for the US banking strategy after a run on residues led to the destruction of Silicon Valley Bank. Moody’s dent its viewpoint for the sector to “adverse” from durable, alarm of “an immediate erosion in the operating climate”. The downgrade came as banking percentages in the […]