Bank of England executive admits misjudging Brexit impact
Says bank did not anticipate resilience of consumer spending...
Tag : Bank
Remittances to Mexico jump by most in 10 years after Trump win
Possibly triggered by fear of US president-elect’s protectionist policies...
UK’s payment systems regulator to foster more competition
Right now, the sector mainly consists of bank controlled monopolies IFM Correspondent January 3, 2017: The UK’s Payment Systems Regulator (PSR) has decided to foster a more competitive domestic playing field. PSR has three main objectives — promote competition, promote innovation and ensure that payment systems are developed and operated in the interests of users. According...
Investors may soon find Iraq interesting
According to World Bank, economy is expected to grow by 7.2% despite the hurdles...
Japan scores low in financial literacy
Aversion to risk poses challenge to reversing the prolonged deflation in the economy Suparna Goswami Bhattacharya November 22, 2016: Despite being among the most industrialised and developed nations in the world, Japan surprisingly scores very low on financial literacy. According to a survey by the Central Council of Financial Services Information, Japanese are averse to...
Sweden’s Riksbank contemplates digital currency
Could potentially develop a new payment system after seeing a substantial dip in the use of conventional currency IFM Correspondent November 22, 2016: Sweden’s central bank — Riksbank — is considering the option of using digital currency. This is mainly due to the fact there has been a drastic decrease in the use of notes...
Citi launches global API developer portal to allow open banking
IFM Correspondent The banking giant joins hands with developers and consumer brands to lead innovation November 17, 2016: American banking behemoth Citi unveiled a new global application programming interface (API) developer portal on November 10, which it says is the most comprehensive one available in today’s financial services market. The portal enables Citi to connect...
Falcon Private Bank appoints new Global Head for Products & Services
Arthur Vayloyan joins the bank after a long-standing career at Credit Suisse IFM Correspondent November 23, 2016: Falcon Private Bank has appointed Arthur Vayloyan as the Global Head of Products & Services and Member of the Executive Board, effective December 1, 2016. Arthur Vayloyan has almost 25 years of banking experience. He joins Falcon Private Bank...
Singapore’s economy to stay sluggish in 2017
Growth in 2017 expected to be only slightly higher than this year, just above 2% IFM Correspondent October 31, 2016: Singapore’s central bank, the Monetary Authority of Singapore (MAS), said that the country’s small, trade-dependent economy is going through a cyclical downturn that has lasted longer than expected and is not expected to pick up...
Europe may be at the mercy of US banks
US banks are about to surpass their European counterparts in the European investment bank market, which could, in the future, be dominated by the big five American banks Dirk Schoenmaker & Charles Goodhart October 25, 2016: The European banking system is downsizing. As a consequence, the big US investment banks are on the rise in...