Sunday, December 22

Tag: credit

Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects
14Dec By adminNo Comments
World

Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects

Credit Agricole said it aims to achieve carbon neutrality by 2050 and that it won’t finance any new fossil fuel extraction projects.The French lender said Thursday it expects to increase 80% of its exposure to low carbon energies through 2025 totalling 13.3 billion euros ($14.46 billion).Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Private Market Can Add Discipline to Deposit Insurance
14Dec By adminNo Comments
Health

The Private Market Can Add Discipline to Deposit Insurance

Following the collapse of Silicon Valley Bank, Signature Bank and First Republic Bank this spring, U.S. lawmakers have faced a policy head-scratcher. When bank runs happen on the internet, not at the teller’s window, how can the government ensure that smaller and regional banks can meet increased demands for liquidity during moments of panic? Excessive capital requirements would harm smaller banks more than larger ones, while reducing the demand for liquidity by increasing the amount of deposit insurance would create serious moral hazard.Solving such a complex problem requires a fresh look at deposit insurance. The Federal Deposit Insurance Corp., to its credit, hinted at the answer in a May report on the history and nature of deposit insurance. It asked whether private insurance has a ro...
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Credit Suisse to Pay $10 Million After SEC Alleges Prohibited Underwriting, Advising
14Dec By adminNo Comments
Money

Credit Suisse to Pay $10 Million After SEC Alleges Prohibited Underwriting, Advising

Credit Suisse Securities and two affiliated entities will pay more than $10 million to settle charges from the U.S. Securities and Exchange Commission that it allegedly provided certain prohibited services.The SEC said Wednesday that the bank acted as an underwriter and investment adviser to mutual funds after being prohibited from doing so by a New Jersey court in October 2022.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review
12Dec By adminNo Comments
Money

FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review

A special committee at the Federal Deposit Insurance Corp. said it had hired the law firm Cleary Gottlieb Steen & Hamilton LLP to conduct a review into the workplace culture, replacing another previously hired law firm nearly a month after The Wall Street Journal revealed allegations of harassment and discrimination pervaded the agency.Led by former acting Manhattan U.S. Attorney Joon Kim, Cleary Gottlieb will examine allegations of sexual harassment and misconduct as well as other issues related to the workplace culture, including “any practices that might discourage or otherwise deter the reporting of, or appropriate response to, harassment and interpersonal misconduct,” the special committee said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5edd...
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FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review
11Dec By adminNo Comments
World

FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review

A special committee at the Federal Deposit Insurance Corp. said it had hired the law firm Cleary Gottlieb Steen & Hamilton LLP to conduct a review into the workplace culture, replacing another previously hired law firm nearly a month after The Wall Street Journal revealed allegations of harassment and discrimination pervaded the agency.Led by former acting Manhattan U.S. Attorney Joon Kim, Cleary Gottlieb will examine allegations of sexual harassment and misconduct as well as other issues related to the workplace culture, including “any practices that might discourage or otherwise deter the reporting of, or appropriate response to, harassment and interpersonal misconduct,” the special committee said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5edd...
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A Spot Bitcoin ETF Is Easy. What Comes Next Could Get Dangerous.
11Dec By adminNo Comments
Money

A Spot Bitcoin ETF Is Easy. What Comes Next Could Get Dangerous.

Giving fund managers easier access to bitcoin is already a contentious topic for regulators. It is nothing next to the Pandora’s box that could be opened with its crypto peer ether.The price of bitcoin has surged roughly 14% this past month to around $42,000. Investors believe U.S. regulators will soon green light exchange-traded funds, or ETFs, that hold spot bitcoins, bringing billions of dollars into the market.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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BOJ Should Raise Interest Rates Before Next Summer, Suntory CEO Says
11Dec By adminNo Comments
World

BOJ Should Raise Interest Rates Before Next Summer, Suntory CEO Says

TOKYO—Takeshi Niinami, chief executive of beverage maker Suntory Holdings and the head of a Japanese business lobby, called on the Bank of Japan to raise interest rates, saying it would help boost the Japanese economy’s productivity and competitiveness.If the Bank of Japan raises interest rates, “the Japanese business community would be ready—which means they should raise interest rates, both long and short,” Niinami said in an interview with The Wall Street Journal on Monday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Markets’ Hefty ECB Rate Cut Expectations Risk Cold Shower
8Dec By adminNo Comments
World

Markets’ Hefty ECB Rate Cut Expectations Risk Cold Shower

Expectations of European Central Bank interest-rate cuts in 2024 have surged since data last week showed a sharp drop in eurozone inflation, but analysts warn these might have gone too far too fast and risk a swift retreat.Money market forwards are pricing in a whopping 140 basis points of rate cuts in 2024, starting in April but with a significant probability of a first cut as early as March, according to Refinitiv data.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Double Trouble: Investors Fight the Fed on Two Fronts
8Dec By adminNo Comments
Money

Double Trouble: Investors Fight the Fed on Two Fronts

Updated Dec. 8, 2023 12:03 am ETInvestors are betting against the Fed—twice over. The first bet is the sudden turn from expecting the Federal Reserve to keep rates higher for longer to instead expecting rapid and deep cuts next year.The second bet is almost the exact opposite, that the Fed will have to keep rates much higher in the long run than it says it will. Treasury yields have come down, but at around 4.1% the 10-year yield remains more than 1.5 percentage points above the Fed’s forecast of long-run interest rates.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Big Banks Need More Out of Wall Street
7Dec By adminNo Comments
Money

Big Banks Need More Out of Wall Street

As the calendar turns for the biggest banks, a big question mark looms: Where will growth come from next year?A major feature of the global Wall Street banks is the diversity of their revenue sources. They don’t just make money from lending and deposits, like many regional banks, but also via trading and corporate advisory fees. And while volatile interest rates are known to scare chief executives and corporate boards from making big acquisition moves, they can sometimes be a big boost for trading desks.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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