Category: Bank
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BNY Mellon SAB 121 exemption may herald bank Bitcoin custody
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Bank of New York Mellon, the largest custodian bank in the United States, has been granted an exemption from a controversial rule by the Securities and Exchange Commission that could allow it to hold bitcoin. Institutional custody of Bitcoin (BTC) and cryptocurrencies in the United States has taken a step…
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BNY Mellon SAB 121 exemption may herald bank Bitcoin custody
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Bank of New York Mellon, the largest custodian bank in the United States, has been granted an exemption from a controversial rule by the Securities and Exchange Commission that could allow it to hold bitcoin. Institutional custody of Bitcoin (BTC) and cryptocurrencies in the United States has taken a step…
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Buffett’s Berkshire Hathaway offloads more of its Bank of America stake By Investing.com
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Warren Buffett’s Berkshire Hathaway sold about $900 million of its stake in Bank of America this week, cutting its holdings in America’s second-largest lender to near the key reporting threshold. Berkshire’s stake in Bank of America now amounts to 10.8% of outstanding shares, or about $34 billion. Berkshire, which remains…
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Pound reaches two-year high as Bank of England holds interest rates steady
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The pound rose to its highest level since March 2022, breaking through the $1.33 level, after the Bank of England decided to keep interest rates steady at 5 percent and indicated a gradual approach to easing monetary policy. Sterling rose about 0.7 percent against the dollar, to $1.331, after the…
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Pound reaches two-year high as Bank of England holds interest rates steady
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The pound rose to its highest level since March 2022, breaking through the $1.33 level, after the Bank of England decided to keep interest rates steady at 5 percent and indicated a gradual approach to easing monetary policy. Sterling rose about 0.7 percent against the dollar, to $1.331, after the…
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People’s Bank of China rate cuts are expected today: LPRs, repo
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The People’s Bank of China is expected to cut its key reverse repo rate today, along with its key lending rates. The Fed’s rate cut this week is expected to pave the way for PBOC cuts. The People’s Bank of China has turned to the 7-day repo rate as the…
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Germany’s Commerzbank and DZ Bank To Offer Bitcoin and Crypto Trading
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Two of Germany’s five largest banks, Commerzbank and DZ Bank, have launched Bitcoin and cryptocurrency trading services amid growing institutional demand. Urgent: ?? Commerzbank to offer $500 billion #Bitcoin And trading in cryptocurrencies. pic.twitter.com/KrOCOx5N9P — Bitcoin Magazine (@BitcoinMagazine) September 19, 2024 Commerzbank, the country’s second-largest bank by number of branches,…
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Germany’s Commerzbank and DZ Bank To Offer Bitcoin and Crypto Trading
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Two of Germany’s five largest banks, Commerzbank and DZ Bank, have launched Bitcoin and cryptocurrency trading services amid growing institutional demand. Urgent: ?? Commerzbank to offer $500 billion #Bitcoin And trading in cryptocurrencies. pic.twitter.com/KrOCOx5N9P — Bitcoin Magazine (@BitcoinMagazine) September 19, 2024 Commerzbank, the country’s second-largest bank by number of branches,…
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Hong Kong’s central bank follows the Fed, cuts base rate by 50bp to 5.25%
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You will notice that the HKCB prime rate is slightly higher than the federal funds rate. The Hong Kong dollar is traded within a range pegged to the US dollar set by the Hong Kong Monetary Authority. You can see the boundaries of the range in the chart below. The…
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Central bank digital currency momentum growing, study shows By Reuters
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By Mark Jones LONDON (Reuters) – A total of 134 countries representing 98% of the global economy are now considering digital versions of their currencies, with nearly half at an advanced stage and pioneers such as China, the Bahamas and Nigeria seeing a resurgence in use. Research by the US-based…
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Bank of Japan meeting this week – preview (no rate change expected)
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The Bank of Japan is scheduled to meet on September 19-20. The announcement will be made sometime between 0230 GMT and 0330 GMT on Friday (no firm time): 2230 – 2330 EST The last speech we heard from the Bank of Japan was hawkish (well, relatively hawkish for the Bank…
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Bank of England faces pressure to cut rates as job vacancies and factory output decline
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The Bank of England is facing increasing pressure to cut interest rates this week as signs of a slowing economy emerge in job vacancies and industrial production. According to the Recruitment and Employment Confederation, job vacancies fell by 3.2% in August, with nearly 720,000 new advertisements, reflecting a slowing labour…
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World’s top miners set for hit from sharp slump in industrial activity, Deutsche Bank says
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Dazman/E+ via Getty Images The largest global mining companies are: Expected to suffer from lower metal prices Analysts at Deutsche Bank said this week that the decline in crude oil prices has slowed demand for copper, nickel and iron ore due to a sharp slowdown in industrial activity in China,…
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SBM Bank fined Sh0.4m over spam emails to non-customer
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In May 2023, Kevin Kiprotich Rono received an unsolicited email from SBM Bank Kenya. However, since he was not a customer of the bank, he ignored the message. However, the emails continued, and in one year, the bank sent him a total of 327 messages. This means that the lender…
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SBM Bank fined Sh0.4m over spam emails to non-customer
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In May 2023, Kevin Kiprotich Rono received an unsolicited email from SBM Bank Kenya. However, since he was not a customer of the bank, he ignored the message. However, the emails continued, and in one year, the bank sent him a total of 327 messages. This means that the lender…
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Help! Bank loan, parents, siblings and girlfriend are draining my salary
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My name is Clarence. I am in my early 30s and the father of a two-year-old boy. I grew up on a half-acre farm. I am the eldest and only child in a family of six, with two unemployed, low-income parents. I earn Sh79,000 after statutory deductions. I have taken…
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Fitch are forecasting a Bank of Japan rates to 1% (by the end of 2026!)
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Earlier this week I posted on the Ftich analysts’ site about the FOMC: Fitch says Fed’s next easing cycle will be moderate and slow Fitch Now on the Bank of Japan: The Bank of Japan says it is “resisting the global trend toward monetary easing, raising interest rates more aggressively…
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Goldman Sachs see a Bank of England rate cut in November, with a cascade of cuts to follow
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…