DIRS.INFO The most relevant business & tech news

WASHINGTON, April 17 (Reuters) - Just a month after the biggest banking crisis in more than a decade, the world's top economic and financial policymakers gathered in Washington and said surprisingly little about financial system stability - at least publicly. Some officials conveyed a sense that banking system safety was further down the priority list of global economic problems. "But it's still something where we need to stay vigilant and address potential risks which may emerge in our financial system," Dombrovskis told reporters. He added that the European Union's banking system was stable, well capitalized with ample liquidity. But during the IMFC's closed meeting, the possible spillovers from financial stability risks were a main topic, Ukrainian Finance Minister Serhiy Marchenko told Reuters.

☆ China's 'Belt and Road' grew out of a lending spree. Now those loans may be its problem
▼ + stars: | 2023-04-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +8 min

Bloomberg | Getty ImagesAt its peak, China's Belt and Road Initiative was seen as the centerpiece of Beijing's engagement with the world. According to the report, China issued 128 emergency rescue loans worth $240 billion to 22 countries — including Pakistan, Sri Lanka and Turkey, among others. 'Trying to salvage Belt and Road'Chinese efforts to revamp Belt and Road have been underway since 2020, according to one observer. "A nod to the concern that many Belt and Road projects were not economically viable to begin with. "The increased indebtedness in many Belt and Road countries is a direct consequence of Beijing's overshooting in the pre-2020 phase," said Zhong.

☆ Former IMF chief economist: We should have insurance for operational deposits
▼ + stars: | 2023-03-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer IMF chief economist: We should have insurance for operational depositsSimon Johnson, former IMF chief economist and MIT Sloan professor, joins 'Squawk Box' to discuss whether Congress needs to create legislation to insure deposit, if this framework can be done with bipartisan support, and more.

☆ Deutsche Bank, Credit Suisse, and what to know about the financial turmoil — and how one company is working to boost the number of women on Wall Street
▼ + stars: | 2023-03-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The program collaborates with UPenn's Wharton business school, and it teaches college women the fundamentals of markets, portfolio management, and finance. Katherine Jollon Colsher, President and CEO, Girls Who Invest Girls Who InvestKatherine Jollon Colsher is the chief executive officer and president of Girls Who Invest, a nonprofit that aims to help women enter asset management and other careers across Wall Street. Katherine Jollon Colsher: We work exclusively in the buy side, and we do focus exclusively on placing women in internships and frontline investing roles to advance more women portfolio managers. With that, our vision is for 30% of the world's investable capital to be managed by women by 2030. Shares of the German bank tumbled on Friday, as the cost of credit default swaps linked to its bonds shot higher.

☆ The current banking crisis is a 'worldwide phenomenon' that started long before SVB failed, Harvard professor and former IMF economist says
▼ + stars: | 2023-03-23 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Chaos in the banking sector was a long time coming, according to a former IMF chief economist. The crisis was, in part, caused by banks betting on a prolonged period of ultra-low rates, Kenneth Rogoff said. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Rogoff, a leading scholar of financial crises, said chaos ensued after a number of years of ultra-low interest rates. "I didn't know it would [start] in the US banking sector," he said, adding that issues could've taken place in Japan or Italy before SVB was seized by regulators.

He now faces renewed criticism over his agenda at the Fed, where he oversaw efforts to reduce regulations on regional banks. U.S. regional banks are expected to pay higher rates to depositors to keep them from switching to larger lenders, leaving them with higher funding costs. In 2008, regulators had to contend with billions of dollars in toxic mortgages and complex derivatives sitting on bank books. Currently, regional banks below $250 billion in assets have simpler capital, liquidity and stress testing requirements. "SVB is not a very complicated bank," said Dan Awrey, a Cornell Law professor and bank regulation expert.

☆ Contagion and fallout risk 'not at all' finished from SVB collapse: Former IMF economist Ken Rogoff
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailContagion and fallout risk 'not at all' finished from SVB collapse: Former IMF economist Ken RogoffJulia Coronado, MacroPolicy Perspectives founder and former Fed economist, and Ken Rogoff, former chief IMF economist and Harvard economics professor, join 'Squawk Box' to discuss what the Federal Reserve should do at its next meeting, if there's further contagion risk from the SVB collapse and more.

☆ The situation in the U.S. is really under control at the moment, says former IMF chief economist
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe situation in the U.S. is really under control at the moment, says former IMF chief economistFormer IMF chief economist Simon Johnson joins 'Squawk Box' to discuss if there's reason to be worried about the global banking system, concerns about the other European banks, and more.

Search resuls for: "Former IMF"

8 mentions found