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...The Basel Committee, known as the world’s most powerful financial regulator, includes regulators from 28 large economies and sets global policies, including on how much capital banks must hold....
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...According to the IMF, 19 per cent of global banking assets are now held in banks that do not meet its capital ratio guidelines, many of them in China....
...Tiger Global has raised $2.2bn for its latest venture capital fund, roughly a third of the $6bn target it touted to investors when it first announced the fund in 2022....
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...Georgieva should make similar calls for PRGT ahead of its funding next year, as these are the funds with the most latitude to help low-income countries....
...The fund’s pessimism is built around a view that years of low interest rates following the 2008 global financial crisis led to a misallocation of capital that kept inefficient zombie companies in business...
...hybrid capital instrument....
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...Fund flows into global sustainable funds turned negative in the fourth quarter of 2023 for the first time ever, according to data provider Morningstar....
...Jørgensen said his view was the new target needed to take in public, private and concessional money....
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...His views are significant as the oil fund is one of the largest single investors in the world, owning on average 1.5 per cent of every listed company globally and 2.5 per cent of every European equity....
...Some big mutual fund managers have already started reclassifying funds to free them from position limits....
...Ghana defaulted on its debt in December 2022 after an economic crisis triggered by rising global interest rates, soaring inflation in the wake of the pandemic and government overspending....
...Now, the EU is trying desperately to bridge the gap with a new capital markets union....
...“But it leads to a misallocation of capital if you favour one company over others.”...
...During his speech at the bank’s AGM, UBS chief executive Sergio Ermotti said he agreed with Kelleher’s view on capital needs and said it was a “source of great concern” that the bank was perceived to enjoy...
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...It is the only way for us to compete with other global economic powers. We are not starting from scratch....
...It also means concerns throughout this rate-raising cycle — such as unrealised losses on balance sheets, high real estate debt and hidden leverage in private capital markets — have not gone away....
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