Tag: Bank

Fed Governor Waller Skeptical of Central Bank Digital Currencies — Says He’s ‘Not a Big Fan’ of the Fed Issuing Digital Dollar – Regulation Bitcoin News

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Federal Reserve Governor Christopher Waller says he is not a big fan of the Fed issuing a central bank digital currency (CBDC). “It’s just a checking account at the Fed,” said the governor. Federal Reserve Chairman Jerome Powell recently said that the central bank has not decided whether to issue a digital dollar. Fed Governor Skeptical of CBDCs Federal Reserve Governor Christopher Waller shared his view on central bank digital currencies (CBDCs) Tuesday during the Money 20/20 conference in Las Vegas. Commenting on the Federal Reserve issuing a digital dollar,…

Deutsche Bank Records 9th Straight Quarterly Profit in Q3 2022 Report

German financial multinational Deutsche Bank says it is “well on track to meet 2022 goals” following a sound Q3 2022 outing. Deutsche Bank recently posted its Q3 2022 financial report, which logged its ninth consecutive quarter of profit. For the third quarter, the Frankfurt-based German banking giant comfortably beat the projected estimates of analysts. Deutsche Bank reported 1.115 billion euros ($1.11 billion) in net income for the period ended September 30th, compared to analysts’ estimate of 827 million euros. Furthermore, the bank’s earnings which came amid higher interest rates and turbulent…

Barclays Bank Posts Better than Expected Net Profit in Q3 2022

Barclays’ resilient performance in Q3 is a testament to the bank’s highly diversified business model and income streams despite notable economic headwinds that played out. British multinational banking giant Barclays PLC (LON: BARC) has posted a better-than-expected net income following the release of its performance report for the third quarter (Q3). Despite the currently harsh economic climate and the political instability in the United Kingdom, Barclays posted a net profit attributable to shareholders of £1.512 billion ($1.73 billion). The posted net profit was better than the consensus estimate from analysts…

Singapore Central Bank Proposes Stablecoin Rules to Reign in Crypto Sector

The rules, which were published on Wednesday, come after a turbulent year for crypto markets. The downturn is particularly frustrating for Singapore regulators, as a number of collapsed multi-billion dollar crypto enterprises like stablecoin issuer Terraform Labs and crypto hedge fund Three Arrows Capital have ties to the country. The MAS had since promised to tighten regulations for the sector. Source

Swiss Seba Bank launches NFT custody despite market decline

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The decline of the nonfungible tokens (NFT) market doesn’t seem to be a problem for the Swiss cryptocurrency-focused bank Seba as the firm now allows its customers to store NFTs. Seba Bank has launched a regulated custody platform allowing its clients to store NFTs, the firm officially announced on Oct. 26. The NFT custody solution enables Seba Bank’s retail and institutional clients to store any Ethereum-based NFTs, including tokens from world-famous NFT collections like Bored Apes and CryptoPunks, the firm said. “There is no marketplace integration with Seba Bank at…

Central Bank of Turkey Plans to Launch a CBDC in 2023

The Balance of Payments section of the program, under the sub-heading of Policies and Measures, stated that a “blockchain-based central bank digital currency will be put into practice.” The responsible institution is Turkey’s central bank, with the cooperation of the local Ministry of Finance and Scientific and Technological Research Institution. Source BankCBDCCentralLaunchPlansTurkey CryptoX Portal

US Central Bank Loses Billions From Rate Hikes, ‘Losses Pile up Into an IOU’ – Economics Bitcoin News

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While the U.S. Federal Reserve ramped up the benchmark bank rate with a barrage of rate hikes, U.S. Treasury markets and global bond markets, in general, have seen one of the worst selloffs in over a decade. The Fed’s actions has fueled criticism toward the U.S. central bank as some strategists believe the onslaught of interest rate hikes could spur illiquidity in the world’s largest bond market. Moreover, a report published on Tuesday, explains that the Fed and foreign central banks worldwide are “losing billions” by paying more interest. The…

Bank of America Downgrades Meta from ‘Buy’ to ‘Neutral’

According to the Bank of America, Meta could bend to advertising spending pressure in the coming year, and this would result in cutting budgets. American multinational investment bank the Bank of America (NYSE: BAC) has downgraded Facebook’s parent company Meta (NASDAQ: META) from “buy” to “neutral.” Also, the financial institution cut the company’s price target on the stock from $196 to $150. Meta is up 0.6% to $129.80 in extended trading hours at press time. The technology company lost about 4% in early trading Monday and closed at a loss…