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Apr 11, 2021 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Business & Finance - Money & Banking - 2021-04-08
JPMorgan forms new team in commercial banking unit as part of green push
Money & Banking

JPMorgan forms new team in commercial banking unit as part of green push

  • As part of the move, JPMorgan's commercial banking division named Brian Lehman as the head of the 'Green Economy' team, the bank said in a statement.
  • Lehman, who was most recently the head of diversified financials team within the commercial bank's financial institutions group, has more than 20 years of experience in sustainable finance.
Published 08 Apr, 2021 09:02pm
Russian central bank considers digital rouble in 2023
Money & Banking

Russian central bank considers digital rouble in 2023

  • "It will be feasible to introduce limits on the transactions from non-cash form into the digital rouble," Zabotkin said, adding that the central bank will stand ready to compensate for possible liquidity shortages when introducing the digital rouble.
  • The central bank first floated the idea of the digital rouble in October, citing the need to make payments more convenient.
Published 08 Apr, 2021 08:19pm
Santander's asset management arm to launch trade finance fund
Money & Banking

Santander's asset management arm to launch trade finance fund

  • The fund - aimed at institutional and accredited investors - will primarily buy assets created by the banking group's trade finance business in transactions with its large corporate clients, the sources said.
  • The recent collapse of British supply chain finance company Greensill, however, has raised investor concerns on some of the risks involved and in some cases, the sector's lack of transparency.
Published 08 Apr, 2021 08:10pm
CEO calls for policies to boost housing supply as prices surge
Money & Banking

CEO calls for policies to boost housing supply as prices surge

  • "Part of the short-term aberration you're seeing here is low interest rates, lots of liquidity, but not enough supply," Dodig said in an interview late on Wednesday.
  • Canada's financial regulator said it will relaunch on Thursday a consultation on the minimum qualifying rate for borrowers of uninsured mortgages. It had suspended the consultation, originally announced in February 2020, less than a month later.
Published 08 Apr, 2021 08:03pm
UK appoints former Bank of Canada deputy Wilkins to BoE role
Money & Banking

UK appoints former Bank of Canada deputy Wilkins to BoE role

  • "Carolyn has a respected track record built over 20 years at the Bank of Canada and her extensive experience in international financial regulation will be a real asset to the FPC," British finance minister Rishi Sunak said.
  • The FPC sets capital ratios for British banks and insurers and regulates aspects of mortgage lending, as well as broader financial risks. Its remit does not extend to monetary policy or financial misconduct.
Published 08 Apr, 2021 06:59pm
Morgan Stanley hires UBS banker Greco to head Italy financial services M&A
Money & Banking

Morgan Stanley hires UBS banker Greco to head Italy financial services M&A

  • Greco, who spent almost nine years at UBS covering major financial services (FIG) transactions in Italy and payments deals across Europe, will start at Morgan Stanley at the end of June and will be based in London, two of the sources said.
  • Orcel later brought Greco over to UBS where he joined the FIG team while Orcel was running UBS's investment banking unit between 2012 and 2018.
Published 08 Apr, 2021 06:57pm
ECB sees scope for cutting bonds buys after second-quarter surge
Money & Banking

ECB sees scope for cutting bonds buys after second-quarter surge

  • Worried that rising yields would derail an eventual recovery, policymakers in March decided to "significantly" increase bond purchases and undo some of the rise in borrowing costs, which was deemed a reflection of a global repricing rather than improved economic prospects.
  • "It was underlined that the flexibility embodied in the PEPP was symmetric, implying that the purchase pace could be increased and decreased according to market conditions," the ECB said.
Published 08 Apr, 2021 06:38pm
Sterling sinks
Money & Banking

Sterling sinks

LONDON: Sterling sank on Wednesday as profit-taking by traders after a strong first quarter for the British currency...
Updated 08 Apr, 2021 09:06am