Category: Bank
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ICYMI: Swiss National Bank Chair Jordan ready “to intervene in FX market” if necessary
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Swiss National Bank President Thomas Jordan spoke in an interview published by Le Temps newspaper on Friday. It was Adam who made the headlines. In case you missed it, Jordan had specific comments regarding the Swiss franc: The Swiss franc can be significantly affected by political uncertainty both within Europe…
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Central Bank Official Criticizes Binance Operations In Nigeria
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A Nigerian central bank official has said that Binance is operating illegally in multiple ways in the West African country. The development comes amid the ongoing legal proceedings against the prominent cryptocurrency exchange in Nigeria. Central Bank of Nigeria Official: Binance Violated Nigerian Currency Trading Policy In April 2024, the…
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The Federal Reserve, Custodia Bank, and the Battle over Sovereignty
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Introduction As it moves into the active appeal stage at the Tenth Circuit, the ongoing legal battle between Custodia Bank and the Federal Reserve has garnered significant attention, especially given the involvement of various amicus briefs. A total of seven briefs were filed on July 3rd, the last day for…
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Bitfinex Among Major Firms Affected by Evolve Bank Data Theft
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Cryptocurrency-friendly financial institution Evolve Bank and Trust has been implicated in a massive data breach. The bank has admitted to being aware of the incident, which involved the theft of 33 terabytes of user data. While Evolve Bank insisted that customer funds appeared to be intact, it acknowledged that hackers…
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Bitfinex Among Major Firms Affected by Evolve Bank Data Theft
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Cryptocurrency-friendly financial institution Evolve Bank and Trust has been implicated in a massive data breach. The bank has admitted to being aware of the incident, which involved the theft of 33 terabytes of user data. While Evolve Bank insisted that customer funds appeared to be intact, it acknowledged that hackers…
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Deutsche Bank appoints Laura Padovani to management board By Reuters
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FRANKFURT (Reuters) – Deutsche Bank said on Sunday it had appointed Laura Padovani to its board of directors responsible for compliance and financial crime prevention, adding a woman to the German bank’s male-dominated senior positions. The promotion of Padovani, who joined Deutsche Bank last year as head of compliance, will…
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Simply Asset Finance Secures £120m Loan Facility from Bank of America to Boost UK Business Lending
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Simply Asset Finance has announced a major milestone, securing a £120 million loan facility from Bank of America. This new facility, initially set at £60 million with potential to expand to £120 million, will significantly enhance Simply Asset Finance’s ability to finance businesses across the UK. The agreement strengthens Bank…
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Is Bank of America Stock a Buy?
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Since late October of last year, American bank (NYSE: PAC) The index was on a tear, surging 58% after the Federal Reserve signaled a pause in its rate hikes. The stock has rallied significantly as investors price in the pause and potential rate cuts later this year and next, which…
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Hungary central bank tells lenders to reimburse clients after Apple glitch By Reuters
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BUDAPEST (Reuters) – Hungary’s central bank on Saturday asked local lenders to immediately start reimbursing customers for erroneous fees imposed by Apple Inc’s (NASDAQ:) mobile payment service earlier this week that affected hundreds of thousands of accounts in Hungary. The central bank said some 780,000 false charges worth a combined…
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Russia’s VTB bank says US sanctions have complicated cross-border transactions By Reuters
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MOSCOW (Reuters) – U.S. sanctions imposed on Moscow this month have complicated foreign trade operations for Russian banks but they are gradually adapting to the new reality, the chief financial officer of Russia’s second-largest lender VTB said on Friday. On June 12, the United States imposed Ukraine-related sanctions on the…
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Win for Raphael Tuju as court allows him to question bank official in Karen property fight
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The High Court has allowed former Cabinet Secretary Raphael Tuju to question an East African Development Bank official over his disputed loan with the regional lender. In a ruling in favour of Mr Tuju, Justice Alfred Mabia allowed an application to cross-examine Mr David Odongo over a statement he made…
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Latin America’s Largest Fintech Bank Integrates Bitcoin Lightning Payments
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Nu Holdings, commonly known as Nubank, the largest fintech bank in Latin America, has partnered with Lightspark to integrate the Bitcoin Lightning Network and UMA (Universal Money Addresses) into its platform. The collaboration aims to enhance Nubank’s services by enabling near-real-time, low-cost bitcoin and fiat currency transactions, according to a…
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Latin America’s Largest Fintech Bank Integrates Bitcoin Lightning Payments
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Nu Holdings, commonly known as Nubank, the largest fintech bank in Latin America, has partnered with Lightspark to integrate the Bitcoin Lightning Network and UMA (Universal Money Addresses) into its platform. The collaboration aims to enhance Nubank’s services by enabling near-real-time, low-cost bitcoin and fiat currency transactions, according to a…
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India digital currency transactions slump after reaching initial central bank target, sources say By Reuters
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Written by Jaspreet Kalra MUMBAI (Reuters) – Use of India’s digital currency, the e-rupee, has fallen to a tenth of its December peak, four sources said, reflecting the difficulties many countries have faced trying to rally public support for digital currencies. The Reserve Bank of India began a pilot of…
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Kenya settles Sh72bn Eurobond debt balance with World Bank cash
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Kenya settled the balance of $560 million (Sh72 billion) of 2014 Eurobonds using part of the proceeds from a $1.2 billion World Bank loan, the Central Bank of Kenya said. The debt, which was due on June 14, was settled on Friday, along with the latest semi-annual interest payment of…
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Kenya settles Sh72bn Eurobond debt balance with World Bank cash
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Kenya settled the balance of $560 million (Sh72 billion) of 2014 Eurobonds using part of the proceeds from a $1.2 billion World Bank loan, the Central Bank of Kenya said. The debt, which was due on June 14, was settled on Friday, along with the latest semi-annual interest payment of…
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Deutsche Bank says S&P 500 pullback is coming By Investing.com
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Strategists at Deutsche Bank suggest that the pair could be on the cusp of another pullback, following a previous successful prediction earlier in April when they predicted a pause in the market rally. Their predictions proved accurate as the S&P 500 saw a 4.6% decline in the two weeks following…
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FX little changed awaiting major central bank decisions later
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Highlights on the agenda today are central bank decisions involving the Swiss National Bank and the Bank of England. They will wrap up the central bank boom in June, but the decisions may end up being mostly uneventful. I’ll get to that in a moment. But for now, the currency…
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Public Pilot Of Iran’s Central Bank Digital Currency In June
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The Central Bank of Iran (CBI) is set to take a significant step towards modernizing the domestic payments infrastructure with a public trial launch of the Central Bank Digital Currency (CBDC), known as the digital rial. This step aims to enhance the efficiency and flexibility of the Iranian payment system,…