Governor Lesetja Kganyago of the South African Reserve Bank addressed the 2024 Payments Conference, focusing on the evolution and future of payment systems. In his opening remarks, Governor Kganyago highlighted the journey of modernizing payments, noting both past achievements and current challenges.
Non-governmental pension funds (NPFs) in Russia are now able to purchase shares during initial public offerings (IPOs) if the aggregate value in on-exchange trading reaches at least ₽3 billion. This marks a significant reduction from the previous threshold of ₽50 billion.
Binance announced the launch of Binance Fixed Rate Loans, providing borrowers with predictable costs and flexible loan terms. This offering is designed to support larger loans and long-term financial planning by allowing users to choose a fixed interest rate.
Data from credit history bureaus (CHB) indicate an increase in lending to borrowers under 35 years old by 8 percentage points across all lending segments.
Starting October 1, 2024, the sale of complex insurance products with an investment component to non-qualified investors will require a test to ensure customers understand the specific features and risks. This requirement is part of a new law that took effect on the same date.
Low interest rates on credit cards during promotional periods cannot be used as a basis for calculating the total cost of credit (TCC), according to a recent directive from the regulator. The relevant information letter has been sent to credit institutions.
The Bank of Canada Museum has launched a new educational resource titled "You Are the Economy." This free suite of six lesson plans is aimed at Grade 7–12 students across Canada, focusing on economic and financial literacy. The resource is available in both official languages and aligns with the latest Canadian curricula.
South Africa's positive net international investment position (IIP) decreased from a revised R2 424 billion at the end of March 2024 to R2 052 billion at the end of June. The decrease in the positive net IIP in the second quarter of 2024 resulted from both a decrease in foreign assets and an increase in foreign liabilities.
In a report published on September 24, McKinsey & Company announced that private credit assets have surged to almost $2 trillion. The analysis highlights the potential and risks associated with this growing asset class as it continues to evolve within the global financial system.
The microloan portfolio expanded by 13% from the beginning of 2024, amounting to ₽62.6 billion. Demand for microloans remained stable: in the first half of 2024, pawnshops concluded slightly more than 4 million contracts on average per quarter. The average microloan amount increased by 8% compared with the previous period and exceeded ₽17,000. Such dynamics were associated with a rise in the value of collateral, which was mainly represented by gold items.
The Bank of Russia has submitted its updated draft Monetary Policy Guidelines for 2025–2027 to the State Duma. This strategic document outlines the central bank's approaches to implementing monetary policy in the current economic environment. It also presents a baseline and three alternative macroeconomic scenarios for the next three years.
The South African Reserve Bank (SARB) has imposed administrative sanctions on Old Mutual Life Assurance Company (South Africa) Limited (OMLACSA). This action is due to OMLACSA's non-compliance with the provisions of the Financial Intelligence Centre Act.
The XXI International Banking Forum recently featured a speech by Elvira Nabiullina, where she addressed several pressing issues in the banking sector. She began by discussing the overall situation in the industry, highlighting its contribution to economic development and investment processes in Russia. Despite challenges, she noted that "the banking sector itself also feels confident owing to a large capital cushion and profits."
Binance announced its partnership with Indonesia’s Criminal Investigation Agency (Bareskrim) and Tokocrypto to disrupt a significant scam operation. The collaboration led to the identification of several suspects and the seizure of $200,000 in illicit funds.
The publication covers the main aspects of the discussion about the economic situation and inflation, monetary and external conditions, and alternatives to the key rate decision.
The Reserve Bank of Australia has released its 2024 Assessment of the ASX Clearing and Settlement (CS) Facilities. This evaluation measures the performance of the ASX CS Facilities against the Bank's Financial Stability Standards (FSS).
In September 2024, one-year-ahead inflation expectations of households edged down to 12.5% from 12.9% a month earlier, as shown by the InFOM’s survey. Expectations decreased among respondents both with and without savings. All these measures markedly exceeded the 2024 H1 averages.