Fidelity joins spot-Bitcoin ETF race with fresh SEC filing
Fidelity is the latest high-profile traditional-finance firm to join the race after BlackRock Inc. made a splash with its June 15 application for a spot ETF, which opened the floodgates for others to try their hand at it, as well.
Joint Press Release: Agencies Finalize Policy Statement on Commercial Real Estate Loan Accommodations and Workouts
JOINT PRESS RELEASE | JUNE 29, 2023 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance Corporation National Credit Union AdministrationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Finalize Policy Statement on Commercial Real Estate Loan Accommodations and Workouts Federal financial institution regulatory agencies today jointly issued a final policy statement on commercial real estate […]
Libor fades into history after 50 years of benchmark dominance
Libor was never meant to become such an integral part of the financial system, yet it would eventually come to determine the cost of borrowing around the world, from interest-rate swaps and collateralized loan obligations to student loans and mortgages.
Credit unions and banks don’t get along, but join forces against CFPB
Banks and credit unions are often at odds, but when it comes to fighting the Consumer Financial Protection Bureau’s proposed $8 late fee cap and changes to interchange fees, they have put their differences aside.
Can AI do the work of research analysts?
The technology that powers ChatGPT can sift through and even synthesize massive amounts of data, though it must overcome doubts over reliability, transparency and regulatory risk before it can be harnessed to conduct useful research.
Credit Suisse AT1 wipeout is a headache for banks, says Vontobel
Switzerland’s decision to eliminate $17 billion of Credit Suisse’s additional tier 1 debt as part of the government-brokered rescue of the troubled bank by UBS Group AG has made it a lot tougher for other Swiss lenders to issue those types of risky bonds, says a Vontobel Holding AG executive.
Unraveling the fallout from FTX’s spectacular collapse on the crypto sector
The demise of FTX, a prominent crypto exchange, late last year, has left the crypto industry grappling with the consequences and uncertainties left in its wake. As the crypto sector teeters on the edge of more forceful regulation, the aftermath of FTX’s explosion has revealed deep fault lines within the industry and increased banks’ already […]
Some simple rules would make it safer for bank customers to share data
People love the convenience of nonbanks’ financial apps. Regulators could make it much safer for them to share their data with third parties.
Mastercard launches subscription-cutting tool to combat chargebacks
When consumers can’t figure out how to discontinue a video-streaming app or other service, they sometimes initiate a merchant dispute — a costly process that the card network aims to curtail.
New document highlights conflict over BNY Mellon’s crypto-custody business
Bank of New York Mellon didn’t think it would need to record on its balance sheet digital assets held in custody when it asked the New York State Department of Financial Services for permission to offer the service, according to a filing obtained by American Banker.