Tagged: financial stability

FDIC-Supervised Institutions Engaging in Crypto-Related Activities Must Inform the FDIC

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All FDIC-supervised institutions that plan to engage in, or that are presently engaged in, any activities involving or related to crypto-assets are now required to inform the FDIC. FDIC-supervised institutions are “requested to provide information described in this letter.” The FDIC confirmed that it would… Read More

NGFS Acknowledges Nature-related Risks May have Macroeconomic, Financial Implications

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The NGFS released a “Statement on Nature-related financial risks”, which acknowledges that nature-related risks, “including those associated with biodiversity loss, could have significant macroeconomic implications, and that failure to account for, mitigate, and adapt to these implications is a source of risks relevant for financial… Read More

LendingClub Financial Health Officer Anuk Nayar Reports that No US Region Is Immune to Falling into Paycheck-to-Paycheck Cycle

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LendingClub Corporation (NYSE: LC), the parent firm of LendingClub Bank, the leading digital marketplace bank in the US, has shared key findings from its second Reality Check: Paycheck-To-Paycheck research series. The first report revealed that most US residents (54%) are living paycheck-to-paycheck; this second August… Read More

Stablecoin Report: Greater Risks Posed by Stablecoins Using Only Fractional Reserves or Higher-Risk Asset Allocations

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The dramatic growth of stablecoin issuance may eventually have implications for the overall functioning of short-term credit markets, according to Fitch Ratings. The statement by Fitch follows comments late last month by Boston Federal Reserve President Eric Rosengren stating that Tether is a looming risk for… Read More

US Regulators Warn that Bitcoin, Other Cryptocurrencies Pose Significant Financial Stability Risk

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US Federal Reserve Chief Jerome Powell recently noted that cryptocurrencies pose significant risks to financial stability. Powell stated on Thursday (May 20, 2021) that greater regulation of crypto assets may be necessary. As reported by Reuters, the US Treasury Department cited concerns about wealthy people… Read More

Open Banking can Give Lenders an “Extremely Accurate” and Detailed View of a Consumer’s Finances, Equifax UK Professional Explains

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Robert McKechnie, head of product at Equifax UK, a data analytics and technology company, has argued that Open Banking can help with lending during the COVID-19 crisis. McKechnie believes that data-sharing via Open Banking (after obtaining customers’ consent) will help with giving potential lenders the… Read More

Banking Challenger Branch’s Survey Reveals that 80% of Hourly Employees had Less than $500 in Savings for Emergencies like COVID-19

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Banking challenger Branch, a service provider that teams up with employers to assist workers with growing financially, recently revealed key findings from its second annual Branch Report. The digital challenger’s report looks at the financial, work, and lifestyle interests of hourly workers. As noted in… Read More

Israeli Securities Authority Issues a Request for Information to Identify Regulations that May Hinder Ongoing Blockchain Industry Development

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The Israeli Securities Authority (ISA) has reportedly issued a Request For Information in order to identify regulatory policies that could hinder the ongoing development of distributed ledger technology (DLT)-focused projects in Israel. The country’s regulator is also planning to look closely into the potential use… Read More

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