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...OECD countries have held a second round of closed-door talks in Paris to debate proposals by the EU and UK to cut off most export credit agency loans and guarantees for oil, gas and coal mining projects,...
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...Banks reclassified $1 trillion in securities as held-to-maturity (HTM) which insulated these assets book values from interest rate fluctuations. More vulnerable banks were more likely to reclassify....
...Under Biden’s projections, the US debt held by the public would hit 102.2 per cent of GDP in 2025, up from 97.3 per cent at the end of 2023, and rise further to 106 per cent by 2030, before falling back...
...Wednesday’s private financing panel held in the World Bank’s atrium sent a subtle message to the organisation’s workers that changes are under way, an executive at one of North America’s largest pension...
...On the latter, this cohort holds about $1.5tn in assets and $1.1tn in net loans (~3%); by major sector they account for 1-2% of C&I and mortgage debt, less than 1% of consumer, and 10-25% of CRE loans (dependent...
...Traders in swaps markets moved to price a 67 per cent probability of the first interest rate cut by June, down from 75 per cent chance earlier in the day....
...His critics say this will force up public borrowing, which was already relatively high for a developing economy at 75.5 per cent of GDP in February....
...The bulk of Russian central bank assets — roughly €190bn — is held at Euroclear, a central securities depository based in Belgium....
...Bank of America’s shares gave up 1.1 per cent as quarterly net income fell almost 60 per cent, worse than analysts polled by Bloomberg had anticipated....
...Meanwhile, 43.9 per cent said China was the most influential political power in the region, versus America’s 25.8 per cent....
...He also refrained from passing judgment on the BoE’s policy decisions, although UK politicians have castigated the central bank for allowing inflation to peak, at 11.1 per cent, higher than in either the...
...Email me at claire.jones@ft.com What I’ve been reading and watching Christine Murray’s piece on last week’s cut from the Central Bank of Mexico charts how Latin America’s monetary guardians have managed...
...It warned that headline inflation would remain “above target over nearly all of the remainder of the forecast period”, at 2.3 per cent in two years’ time and 1.9 per cent in three years’ time....
...at 1.5 per cent in 2023....
...“The big change in November was . . . the conviction in lower inflation, rates and yields,” wrote Michael Hartnett, investment strategist at Bank of America....
...Rates in Poland, meanwhile, have been held at 5.75 per cent since parliamentary elections in October that brought former European Council president Donald Tusk back into office....
...But last year the Bank of Korea warned that annual growth was on course to slow to an average of 2.1 per cent this decade, 0.6 per cent in the 2030s and will start to shrink by the 2040s....
...The state of the privately held Trump Organization’s finances is opaque. In a deposition last year, Trump said he had “substantially in excess of $400mn in cash”....
...Blue-chip stocks in the US produced their best one-day gain in a month and bond yields tumbled on Wednesday after the central bank forecast it would implement 75 basis points worth of cuts next year....
...Jordan, who is the longest-serving governor of any major central bank, will step down in September....
...Putting this into perspective, in the last quarter about $32bn of Bank of America’s zero-cost funding had to be replaced with more expensive liabilities.* In calls with investors, BofA says this is a race...
...Other managers say they are still deciding what to do, but analysts at Bank of America and industry executives predict additional closures and conversions as the deadline draws nearer....
...Banks, schools and hospitals have been closed in the impoverished Caribbean nation....
...Bank of America analysts said 75 per cent of investors now expected a so-called soft landing for the economy, leaving 20 per cent forecasting no landing at all and just 5 per cent a hard comedown....
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