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...International banks, which for years sought to make inroads into China’s vast financial system, have had to grapple with shrinking levels of activity....
...The AIIB is also in discussions with the Asian Development Bank and Inter-American Development Bank about similar projects, AIIB president Jin Liqun told the Financial Times....
...Millions of Americans and the national economy are affected each year by the bankruptcy system. Debtors receive a “fresh start” and creditors have a relatively efficient method for repayment....
...The Marlin Luanda is owned by a group of international investors through a company which, because the investors were advised by US investment bank JPMorgan Chase, is registered at one of the bank’s London...
...Post-crisis, Dodd-Frank usefully tightened regulation of the banking system but left the non-bank financial system lightly regulated, allowing it to grow into an enormous, highly leveraged private sector...
...These funds went into US government IOUs — so-called safe assets — and into lending via the banking system and capital markets to American households....
...What regulator could be against safer banks at the heart of our financial system?...
...There is no medical school in this country that has fully incorporated AI.”...
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...Letter in response to this article: IMF can help fix the system of sovereign debt restructuring / From Reza Baqir, Former Governor, State Bank of Pakistan (2019-2022); Global Practice Leader of Sovereign...
...China’s deflation worsens as economic pressures mount Should we believe Americans when they say the economy is bad?...
...The Texas Retirement System incorporated leverage within its individual asset allocations in 2019 to improve the “risk return profile” of the fund....
...Do also read the great John Plender’s essay on the overlooked threats to the global financial system....
...Banks have argued that this would constrain their ability to lend without making the financial system significantly safer....
...Some bankers argue that will leave big American banks at a competitive disadvantage to international rivals in the eyes of both clients and investors....
...It is expensive to run different systems for different regions....
...And yet, as the massive lobbying by US banks pushing back against the Fed’s attempt to implement Basel III rules shows, we are still arguing about the basics of what makes the financial system safer....
...American banks own a significant amount of US government debt. As the yield on that rises, the paper losses associated with the holdings rapidly multiply....
...The bad news, however, is that this work is in its infancy and has not been officially incorporated into central bank models....
...Chart du jour: ECB dieting The European Central Bank is rethinking how it provides liquidity to the financial system, announcing plans to lend more to commercial banks while shrinking its large bond portfolio...
...Wall Street’s top four lending banks grew net income by $10bn last year, as JPMorgan Chase posted the highest annual profit ever enjoyed by an American bank....
...Biden signed an executive order on Thursday authorising the sanctions, which would cut off designated individuals from the American financial system, including barring them from receiving financial assistance...
...The entire basket of pandemic-related American Rescue Plan childcare subsidies came to $78bn....
...As I’ve noted before, the EU joining the green steel club, at least in the version targeted at carbon emissions, would have meant trashing its precious emissions trading system via giving American steel...
...A repeat of 2008 seems unlikely: the overall banking system is fairly well capitalised and since last year’s collapse of Silicon Valley Bank, the Fed has scrambled to create systems to contain contagion....
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