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.
The September 2024 results of the monitoring of maximum interest rates on deposits in Russian rubles for the top ten credit institutions attracting the largest amount of household deposits are as follows:
The House Financial Services Subcommittee on Financial Institutions and Monetary Policy, chaired by Andy Barr (KY-06), is conducting a hearing titled "Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of Hurried Rulemaking Undertaken by the Administration."
The Reserve Bank Board has decided to keep the cash rate target unchanged at 4.35 percent and the interest rate on Exchange Settlement balances steady at 4.25 percent.
The House Financial Services Committee, chaired by Patrick McHenry (NC-10), is holding a hearing today to oversee the Securities and Exchange Commission (SEC). All five SEC Commissioners are testifying together before the Committee for the first time since 2019. This provides an opportunity to hear the diverse viewpoints of the full Commission.
At its meeting on 23 September 2024, the National Financial Board (NFB) reviewed drafts of the Monetary Policy Guidelines and the Russian Financial Market Development Programme for 2025–2027.
The Institute of International Finance and the Canadian Bankers Association hosted a forum on economic growth amid uncertainty, featuring a speech that addressed various global challenges. The speaker acknowledged the current state of uncertainty due to geopolitical tensions, technological disruptions, climate change impacts, political instability, and fiscal unpredictability.
The House Financial Services Committee has announced the postponement of a hearing initially scheduled for Thursday, September 26, 2024. The hearing was to be held by the Housing & Insurance Subcommittee and titled "Vanishing Independence: How FHFA’s Political Agenda Endangers Homeowners and Taxpayers."
The Bank of Canada has introduced its first Reconciliation Action Plan, marking a significant step in its commitment to improving relations with Indigenous Nations and Peoples. The plan aims to foster an inclusive organizational culture and support thriving Indigenous economies.
On September 23, 2024, the Bank of Russia issued commemorative coins for the Russian (Soviet) Animation series titled "Hedgehog in the Fog." The release includes a 3-ruble silver coin (Catalogue No. 5111-0510), a 25-ruble nickel-plated steel coin (Catalogue No. 5715-0003), and a 25-ruble cupronickel coin with colored coating (Catalogue No. 5015-0072).
The growth rate of corporate lending remained high in August, showing a 1.9% increase compared to 2.3% in July. Companies from various sectors raised borrowings, primarily through working capital loans.
The Bank of Russia has extended restrictions on money transfers abroad for another six months. These measures will be effective from October 1, 2024, through March 31, 2025.
The Banking Standards Committee has adopted the Standard for Protecting the Rights and Legitimate Interests of Mortgage Borrowers, approved by the Bank of Russia. The new standard aims to minimize high-risk mortgage lending schemes and ensure banks provide borrowers with detailed information about lending terms and associated risks.
The Bank of Russia has announced an extension of restrictions on money transfers abroad for non-residents from states it considers unfriendly. These measures, which apply to both individual and legal entity accounts managed by Russian brokers and trust managers, will be in place for another six months starting October 1, 2024.
Ahead of a scheduled hearing with the full Securities and Exchange Commission (SEC), Republicans from the House Financial Services and Senate Banking, Housing, and Urban Affairs Committees have called on SEC Chair Gary Gensler to rescind Staff Accounting Bulletin (SAB) 121. The letter was led by Chairman Patrick McHenry (R-NC) and Senator Cynthia Lummis (R-WY).
Remote lending channels are expanding primarily due to the technological capabilities of large companies. Over the quarter, the proportion of online loans issued by microfinance organizations (MFOs) grew from 81% to 84%, and in the segment of payday loans, they accounted for 96%.
Banks will not be allowed to charge citizens for money transfers in favor of the government (C2G-payments) made via the Faster Payments System (SBP). This includes payments for kindergartens, extracurricular clubs and activities, as well as taxes and fines.
Over the year since July 2023, the number of regions with increased risks of fraud in the compulsory motor third-party liability insurance (CMTPLI) sector has dropped from ten to four. These data are given in the latest issue of the Monitoring of Regional Risks of Misconduct in CMTPLI.
On October 1, 2024, the Bank of Russia will launch a service that allows users to request and obtain reference information on whether the Know Your Customer (KYC) Platform classifies an individual entrepreneur or a legal entity as a party with a high risk of involvement in suspicious transactions.