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CENTRAL BANKING
Bank of England Inquires About Banks’ Readiness for Negative Rates
The Bank of England asked banks on Oct. 12 how ready they were for zero or negative interest rates. It…
Citibank Fined $400 Million Over Banking Errors
The Office of Comptroller of Currency has fined Citibank with $400 million for repeated errors committed by…
Quarterly Report: Tariffs and International Trade Agreements, 3rd Quarter…
The 3rd quarter tariffs of 2020 affected imports of including aluminum, alcohol, chemicals and tech services.…
Powell Warns of Further Economic Tragedy Amid COVID-19
Federal Reserve Chairman Jerome Powell warned of the rise in COVID-19 infections as a potential cause for the…
Federal Reserve: Share Buy-Back, Dividend Cap Extended Through Q4
The Federal Reserve is extending its ban on Wall Street banks of stock buy-back and capping dividends payments…
Mortgage Rates Remain Near Record Lows
According to an Oct. 1 Freddie Mac (FMCC) report, 30-year fixed mortgage rates averaged 2.88% for that week,…
Quarterly Report: Financial Regulation, Third Quarter 2020
The third quarter financial regulations of 2020 included whistleblower program rules, tax relief for victims…
Bank Branches to Become Quasi-Digital Engagement Hubs
Banks across the globe are looking to reduce their physical footprint as they are gaining more consumer…
Fintechs Gain Value as Public Bank Index Falls
Fintech unicorn Chime recently raised $485 million in Series F funding round, making it the most valued…
Citi to Spend Over $1B to Reduce Racial Wealth Gap
The Citi Group plans to spend $1.15 billion over the next three years to reduce the racial wealth gap. The US…