After almost two decades of considerable earnings, the European Central Bank (ECB) has announced that its audited financial statements for 2023 reflect a loss of €1,266 million. This may be the beginning of a downward trend, as the ECB predicts further losses in the coming years.
A consortium of European central banking institutions has initiated a program funded by the European Union (EU) aimed at enhancing the macroeconomic and financial stability of African nations. This novel initiative represents a multilateral effort to encourage regional cooperation.
The Federal Reserve Board has disclosed the hypothetical scenarios for its annual stress test. These scenarios are designed to enable the board to investigate various elevated and extended recession risks through an exploratory analysis.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against a procurement network accused of illegally exporting goods and technology from U.S. companies to Iran. The Central Bank of Iran (CBI) is listed among the end users of these products.
In the wake of Russia's invasion of Ukraine in 2022, assets belonging to the Central Bank of Russia (CBR) held by European Union (EU) financial institutions were effectively "immobilized." However, a recent decision and regulation approved by the European Council have clarified the obligations of Central Securities Depositories (CSDs) that are currently holding CBR assets and reserves.
The Federal Reserve Bank of New York’s Center for Microeconomic Data's January 2024 Survey of Consumer Expectations indicates an improvement in household perceptions and expectations regarding their financial conditions and credit availability. However, inflation expectations remained static at the short- and longer-term horizons, with a slight decline at the medium-term horizon.
The Financial Stability Board (FSB) recently reported that its Regional Consultative Group for the Middle East and North Africa (RCG MENA) convened in Riyadh to discuss global and regional financial stability vulnerabilities. This marked the first in-person meeting for the group since the onset of the COVID pandemic.
The Central Bank of The Bahamas has announced its intention to expand outreach efforts and continue the development and beta-testing of new features for its digital currency, the SandDollar. This follows several initiatives launched over the holiday season to promote the digital currency.
The European Central Bank (ECB) has revealed plans to intensify its climate change initiatives in 2024 and 2025. The bank has pinpointed three key areas for focus: the impact and risks associated with transitioning to a green economy, the escalating physical impacts of climate change, and the economic and financial system risks presented by nature loss and degradation.
The Bank Term Funding Program (BTFP), an initiative established by the Federal Reserve Board to fortify the banking system following the collapse of Silicon Valley Bank, will cease accepting new loans in March. However, it will continue to provide new loans until that time.
The Governing Council of the European Central Bank (ECB) has decided to maintain its three key interest rates, citing information that supports its prior evaluation of the medium-term inflation outlook.
The European Central Bank (ECB) has published the findings of the Eurosystem's January 2024 euro area bank lending survey. Conducted quarterly, the most recent survey indicated a moderate tightening in credit standards and a decrease in demand for both business and consumer lending.
The Federal Reserve Board has announced the appointment of five new members to its Community Advisory Council (CAC), replacing five whose terms concluded in December 2023.
The Federal Reserve Bank of New York has released a report titled, "The State of Low-Income America: Credit Access & Housing." This third installment in a series delves into the financial circumstances of low-income households, with a particular focus on their ability to access and maintain credit, the burden of rent, and mortgage refinancing.
The Central Bank of the Republic of Armenia (CBA) has reinstated its membership in the World Bank Treasury’s Reserve Advisory & Management Partnership program (RAMP), after having withdrawn in 2014.
The Federal Reserve Board has announced the appointment of four new members to its Community Depository Institutions Advisory Council (CDIAC). The Board also disclosed the names of the council president and vice president for 2024.
The European Central Bank (ECB) has announced the release of experimental statistics on Distributional Wealth Accounts (DWA). These statistics provide quarterly household distributional information in alignment with national accounts.
Belize Bank Limited has been granted an interim injunction against the enforcement of Practice Direction No. 7 – Regulation of Fees and Charges (PD No. 7) by the Central Bank of Belize. This injunction temporarily suspends the implementation of PD No. 7 until a court ruling is made on its applicability.
The Federal Reserve Board has unveiled the appointment of chairs and deputy chairs for the 12 Federal Reserve Banks for 2024, along with updates to the board’s website.
The Central Bank of Solomon Islands (CBSI) has announced an update to the Solomon Islands’ $100 and $50 banknotes, incorporating a new security feature in the form of a stripe. This enhancement is aimed at combating the increasing instances of counterfeiting and will be integrated into the latest reprints of these banknotes.