Federal Reserve Bank of New York President John Williams said Thursday that banks need to be prepared to use the Fed’s discount window before trouble arrives.
Swiss proposals to better regulate its banking system and make it safer were welcomed by the Financial Stability Board on Thursday, which said changes were particularly important in view of the size of the enlarged lender UBS .
The World Bank and six other multilateral banks have made good progress in integrating global challenges like climate change into their agendas, but most have miles to go in implementing other needed reforms, a tool tracking the reforms shows.
Neil Woodford, the former star stock picker whose flagship fund collapsed in 2019, trapping around 300,000 investors, had a “defective and unreasonably narrow” understanding of his responsibilities, Britain’s markets regulator said on Thursday.
Goldman Sachs’ Chief Strategy Officer Carey Halio will replace Philip Berlinski as its global treasurer, the bank announced in an internal memo seen by Reuters on Thursday.
UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the “monster bank” in line that were light on detail and heralded a tortuous political process to enshrine them in law.
Barclays economics team on Wednesday said it now sees the U.S. Federal Reserve cutting rates just one time in 2024, by 25 basis points (bps), in light of the upside surprise to the consumer price index (CPI) data released today.
Switzerland called on Wednesday for changes to global measures to prevent liquidity crunches which were introduced after the global financial crisis, to make bank runs less calamitous.
Switzerland’s finance minister took aim at bonus excesses and inflated salaries at banks on Wednesday as she unveiled 22 proposals designed to strengthen the Swiss financial sector after the implosion of Credit Suisse last year.
The Bank of Canada kept its key interest rate unchanged at a near 23-year high of 5% on Wednesday but the bank’s head said a cut in June was possible if a recent cooling trend in inflation is sustained.
