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Business & Finance - Money & Banking - 2021-02-23
Top banks asked to justify why they still clear euro swaps in London
Money & Banking

Top banks asked to justify why they still clear euro swaps in London

  • Clearers in Britain have EU permission to continue clearing for EU customers until mid-2022 to give banks time to shift their euro positions to the continent, but switching has been slow.
  • "The objective of this discussion is to ensure that the Commission is aware of all possible impediments, obstacles and opportunities," the document prepared for the meeting said.
Published 23 Feb, 2021 07:14pm
BofA hikes 2021 Brent price view by $10/bbl on strong oil balances
Money & Banking

BofA hikes 2021 Brent price view by $10/bbl on strong oil balances

  • The bank now expects Brent crude oil to average $60 per barrel in 2021, up from a previous estimate of $50. BofA also forecasts West Texas Intermediate (WTI) crude prices to average $57 a barrel this year.
  • Brent prices could temporarily spike to $70 a barrel in the second quarter of the year, the bank's analysts said in a note.
Published 23 Feb, 2021 07:01pm
Munich Re stops insuring Nord Stream 2 amid sanctions threat
Money & Banking

Munich Re stops insuring Nord Stream 2 amid sanctions threat

  • The US has been threatening sanctions against European companies that support construction of the $11 billion gas pipeline, and Zurich Insurance Group dropped out last month.
  • Munich Re Syndicate has issued the notice of termination to Nord Stream 2," a spokesman said in an emailed statement on Tuesday, referring to the company's subsidiary.
Published 23 Feb, 2021 06:07pm
FTSE 100 falls
Money & Banking

FTSE 100 falls

LONDON: London’s FTSE 100 fell on Monday as higher commodity prices sparked fears of a spike in inflation, while...
Published 23 Feb, 2021 05:20am