Banking
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US Fed To Track The $2 Trillion Shadow Banking Exposure
In a move aimed at enhancing financial stability, the US Federal Reserve has proposed new rules that could revolutionize how we understand…
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First Republic Ex-employees’ $150M Lawsuit against FDIC Dismissed
A federal judge in California has dismissed a lawsuit brought by nearly 170 former employees of the failed First Republic Bank. The…
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Taiwan’s Central Bank Focuses On Slow And Steady Development Of CBDC
The President of the Central Bank of the Republic of China shared that developing a central bank digital currency (CBDC) is not…
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American Express Expands Operations With $400M Acquisition Of Restaurant Booking Platform
American Express is expanding its presence in the dining industry with the acquisition of restaurant booking platform Tock for $400 million, Reuters…
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Standard Chartered To Launch Bitcoin, Ether Trading Desk In London
Standard Chartered is establishing a dedicated spot trading desk for Bitcoin and Ether in London, Bloomberg reported citing sources familiar with the…
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Beyond the Rate Cut: Challenges For The ECB’s Monetary Policy
As reported by Reuters, the European Central Bank (ECB) is poised to cut interest rates for the first time since 2019 this…
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Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns
Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing…
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Swiss Financial Giant UBS Completes Credit Suisse Merger
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive…
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European Regulator Cautions Banks On AI Use: Innovation Vs Compliance
The European Securities and Markets Authority (ESMA) has cautioned banks about using artificial intelligence (AI) in their operations in compliance with the…
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UK’s Coventry Building Society Buys Co-operative Bank For $990 Million
UK’s Coventry Building Society has acquired Co-operative Bank for £780 million ($990 million) in cash, Reuters reported. This merger, expected to finalize…