A Supreme Court case upending how government regulators do their work thrusts Federal Reserve bank overseers into extended uncertainty and potential risk, although the ruling should not complicate the central bank’s ability to provide support to markets in times of stress.
Margin pressure, potential loans losses on radar for small bank earnings
Given choppy economic conditions, stubborn inflationary headwinds and lofty interest rates, analysts say festering net interest margin pressure and signs of credit quality deterioration remain at the forefront of their minds as the community bank second-quarter earnings season approaches.
Lula Says Central Bank Can’t Be at the Service of Markets
President Luiz Inacio Lula da Silva escalated his attacks on Brazil’s central bank, saying the institution led by Governor Roberto Campos Neto needs to be really autonomous and not “owned” by financial markets.
Fed Chair Powell Warns Of 'Unsustainable' US Debt Path, Downplays Risks Of Possible Trump Attacks On Central Bank Independence
Support for the Fed’s independence is very high where it really matters on Capitol Hill in both political parties,” he said. Powell concluded by stressing his focus on getting the job right and maintaining the current economic trajectory.
Markets will be 'upset' if new French government does not commit to fiscal rules, European Central Bank's vice-president says
"The reason why, you know, markets would be upset ... for any government, not only for France, is that fiscal policy does not adapt to the [European Central Bank's] new fiscal framework,"
Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts
Inflation in the 20-nation eurozone crept lower to 2.5% in June, but remained stuck above the level favored by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate.
Three Shariah-based banks account for 36% of FY24 remittances
Three Sharia-compliant banks played a key role in remittance growth in the just-concluded fiscal year, contributing a significant 36.13% ($8.64 billion) of the total remittances received, according to Bangladesh central bank data.
US judge's financial conflict leads to revived lawsuit against big banks
A U.S. appeals court threw out the dismissal of an antitrust lawsuit accusing 10 large banks of overcharging investors on corporate bonds, saying the trial judge should have been recused because his wife owned stock in one of the banks.
Gen AI takes over finance: The leading applications and their challenges
Major financial institutions are rapidly integrating generative AI into their operations. Goldman Sachs has deployed its first generative AI tool across the firm, focusing on market analysis and creating a copilot assistant for investment bankers. JP Morgan has implemented AI in its fraud detection systems, while Bank of America and Capital One are using AI-powered chatbots to revolutionize customer service.
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