For the first time since the COVID War, hedge funds, insurance companies, money market funds, mutual funds, private equity firms, and other financial institutions that are not banks hold more than half of the world’s financial assets, according to the intergovernmental Financial Stability Board (FSB).
A battalion of 14 European banks—including heavyweights BNP Paribas, Deutsche Bank, and ING—have warned that the European Central Bank’s (ECB’s) plan to issue a digital euro will undermine the private sector’s payment system.
Even the big banks that welcomed the revolution are finding that the cost of managing security could rise out of control and exceed the labor cost of the analogue system.
2023 was just the opening act starting with regional/smaller banks. We called it then, and now they cannot cover it up as losses are piling up.
More than 63K people have been laid off in the tech industry this year, according to layoff tracking website layoffs.fyi. Intel adds to the job cuts this week with 170 layoffs in Santa Clara, Calif. and 195 layoffs in Ireland.
The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve Board have withdrawn statements issued in 2022 and 2023 that were intended as guidance for banks in dealing with cryptocurrencies.
The bank sector’s profits rose 11 percent in this year’s second quarter, compared to the first, the Federal Deposit Insurance Corp. (FDIC) reported. Profits totaled $71.5 billion across the survey’s 4.539 institutions.
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.