Central banks got it right when they saved the world economy, but their unprecedented actions risk disruptive cross-border spillovers and potentially heavy losses when the time comes to reverse course, the IMF said on Thursday.
WT news feed
Banks seized nearly 40,000 homes in Spain last year due to unpaid mortgages, official data showed Friday, as a sharp economic downturn and record unemployment took its toll.
WT news feed
A racism watchdog group in France announced Friday it will file a legal suit against a state-owned bank over its role in the slave trade in Haiti even as President François Hollande ruled out reparations to the former Caribbean colony.
bertb news feed
The wave of new banking regulations that Congress created to deter and punish Wall Street’s misdeeds is landing with much greater impact on the U.S.’s almost 7,000 community banks than on the too-big-to-fail lenders.
WT news feed
Microsoft founder Bill Gates was a major bondholder, with �27m (.6) in bonds at the end of 2006, in Irish banks which were bailed out by taxpayers after the financial collapse
WT news feed
Central banks, guardians of the world’s trillion in foreign-exchange reserves, are buying stocks in record amounts as falling bond yields push even risk- averse investors toward equities
WT news feed
As Bloomberg reports, 23% of central bankers surveyed said the bank owns shares and plans to buy more. From the Bank of Japan to the Bank of Israel and with the SNB and the Czech National Bank now at over 10% allocation of reserves to stocks
WT news feed
While Wronged Homeowners Got 0 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got Billion
bertb news feed
“…The purpose of Operation Downstrike, he said, was to train Torres for clandestine work. âWhen they pull the alarm, then you have a short time to get out of there,â he said. âYou need to be able to escape, and thatâs going to be stressful. If you crack under stress, then youâre useless to the agency.â The rules of the operation dictated no weapons, according to Brady. Stolen money was to be turned over to the government…”
WT news feed
The new US consumer finance watchdog is gearing up to monitor how millions of Americans use credit cards, take out mortgages, and overdraw their checking accounts. Their bankers aren’t happy about it.
WT news feed
