Equities boom drives the franc, Swiss bank stands by
Stock market flows and overseas investment returns are emerging. This is because of the major drives for Switzerland’s currency in a shift. The Swiss National Bank (SNB) has intervened to prevent excessive franc appreciation. Last month as the franc rose to a nine-month high against the euro of 1.0694, there was no significant increase in […]
Accessible and affordable credit in the open banking
The long-term financial impact is beginning to materialize, as we move away from the pandemic. Borrowing provides a helpful financial buffer, but some can’t afford to borrow and yet cannot access mainstream credit. Even if an individual has the means to pay off a loan in time, some people are unfairly forced to accept high-cost, […]
COVID increasing money laundering risks
The United Arab Emirates central bank sees increased risks of illicit financial flows emerging from the pandemic. This includes money-laundering and terrorism financing. The use of unlicensed money service providers for money laundering has increased during this pandemic, as per the report. And also, the use of e-commerce to launder money. It also stated that the widespread […]
BoE to penalize fossil fuel financing says UK lawmakers
The Bank of England was called on help to tackle climate change, by the UK lawmakers. This is by boosting the investment in green finance and by penalizing banks that finance the fossil fuel industry. The intervention by a cross-party group of 51 lawmakers comes ahead of the COP26 global climate talks, that is to be held in […]
Stanchart to add bankers in sustainable finance
Standard Chartered is looking to add bankers to focus on sustainable finance, project finance and capital markets in Saudi Arabia. This is a front-runner for its regional business in coming years. Standard Chartered this year began offering banking services through its branch in Saudi Arabia. A banking licence in 2019 was granted with a team of 25 people. […]
$1.5 billion invested by EBRD in Western Balkan countries
The European Bank for Reconstruction and Development (EBRD) had invested 1.3 billion euros in the Western Balkans in 2020. Pierre Heilbronn, an EBRD vice president, said that this year also the same amount will be continued. Heilbronn told that 2020 was an unusual year because of the pandemic. And that prompted the bank to invest in its earlier agreed […]
BoE aims for large but lean balance sheet when QE unwinds
The Bank of England is expecting to have a large but leaner balance sheet when it starts to run down its 895-billion-pound asset purchase program. It will take steps to ensure this does not push up short-term rates. Andrew Hauser, the BoE’s executive director for markets, said that the financial markets should not expect the central bank […]
EU pressure should be waited out all banks, says Bank of England
Bank of England Governor Andrew Bailey said that all the Banks should hold their nerve in the face of European Union pressure to shift euro derivatives clearing from London to the bloc. Since Britain fully left the EU, the bloc has asked banks to move euro clearing from London. This has resulted in the bulk of activity, […]
Freedom bank partnership with FinTech
The Freedom Bank of Virginia had announced that it will be launching a new Business Valuation Loan product to commercial clients in the Washington DC region. Industry benchmark KPIs in critical areas of performance helps to maximize the growth. This information can be utilized by the businesses to make informed decisions on strategic alternatives, that includes expanding into new […]
Australia’s top 5 banks assessing climate risks
Australia’s financial regulator outlined details of a climate vulnerability assessment (CVA) that is being undertaken by the country’s top five banks. This is to assess exposure to climate risk, and their response to different scenarios. With the increasing weather-related disasters, taking many lives, the regulators and central banks are looking to ready companies and financial systems to […]