Weekend Money & Banking Update: 06/25-06/26/2016

  1. Banks Begin Moving Some Operations Out of Britain (CNBC)
  2. Central Bank Leaders Commit to Monitor Market Fallout From Brexit (MarketWatch)
  3. Carney, Draghi and Yellen to Be in the Post-Brexit Spotlight (MarketWatch)
  4. A Discussion of Economic Conditions and the Role of Monetary Policy (Dallas Fed)
  5. BIS Warns of Too Much Focus on Inflation (Financial Times)
  6. The Single Currency: Eur-On Your Own (Financial Times)
  7. US Banks: Transatlantic Blues (Financial Times)
  8. Post-Brexit Dollar Surge Presents Fed with New Conundrum (Financial Times)
  9. Why Brexit Could “Kill” London as a Top Financial Hub (MarketWatch)
  10. Central Banks Will Smooth Brexit-Driven Market Moves – BIS Head (Reuters)
  11. “Risky Trinity” Requires Urgent Global Policy Action, BIS Says (Reuters)
  12. China-Backed AIIB Seeks Cooperation and New Members (Reuters)
  13. Deutsche Bank CEO Says London Financial Center Will Weaken But Won’t Die (Reuters)
  14. Central Bank Group Argues for Branch Closures to Lift Profits (Reuters)
  15. ECB’s Villeroy: Brexit Talks Must Be Quick, City of London at Risk of Losing “EU Passport” (Reuters)
  16. China, Russia Sign MOU on Yuan Clearing in Russia (Reuters)
  17. Peter Schiff: Brexit Is a Gift for Janet Yellen’s Fed Policy (CNBC)
  18. EU Plans Moving Bank Regulator From London as Eurozone Eyes City Business (Reuters)
  19. BOJ’s Nakaso Says Will Tap Central Bank Swap Deals for FX Liquidity If Needed (Reuters)

Daily Money & Banking News Update: 06/24/2016

  1. Press Release on Financial Market Developments in Europe (Federal Reserve Board)
  2. With a British Adieu to EU, It’s Farewell (CNBC)
  3. Fed May Be Forced to Reverse Course After UK Vote Rocks Markets (CNBC)
  4. Morgan Stanley Denies It Has Begun Moving 2,000 Staff Out of London (CNBC)
  5. Why Brexit Could Take 10 Years (CNBC)
  6. Fed’s Plans to Raise Rates Again Go Awry (MarketWatch)
  7. Here’s Why Brexit Probably Isn’t a “Lehman Moment” (MarketWatch)
  8. JP Morgan’s Currency Trading Volume Hit a Record Amid Brexit, Says Dimon (MarketWatch)
  9. Bitcoin Jumps to $680 as Brexit Vote Upends Stocks (MarketWatch)
  10. Gold Marks Highest Level in Nearly Two Years as UK Plans EU Exit (MarketWatch)
  11. Fed, in Concert with US and Global Policymakers, Seeks to Calm Brexit Storm (MarketWatch)
  12. Sen. Toomey Pushes Yellen on Fed Distortions (Mises Institute)
  13. European Integration Is Dead, Long Live Monetary Cooperation (Mises Institute)
  14. Q&A: What Was the First Coin to Be Issued by Authority of the United States? (Coin Update)
  15. Federal Reserve Pledges to Provide Dollar Liquidity (Financial Times)
  16. European and US Banks Caught Up in Brexit Reaction (Financial Times)
  17. Fed on Alert for US Economic Recoil (Financial Times)
  18. US Banks Face Higher Stress Test Hurdle (Financial Times)
  19. Brexit Will Not Cause Financial Crisis, Says BOE’s Mark Carney (Financial Times)
  20. How Much Further Can the Pound Fall? (Wall Street Journal)
  21. French Central Bank Says Closely Monitoring Brexit Market Impact (Reuters)
  22. UK Markets Price in BOE Rate Cut by Year-End After Brexit Shock (Reuters)
  23. Carney: BOE to Use Extra 250 Billion Pounds to Help Markets, Consider More Action (Reuters)
  24. Flexible Yuan Needed for China’s Development Goals – PBOC Governor (Reuters)
  25. Bill Gross: ECB Reaching Limit on Negative Rates (CNBC) (VIDEO)
  26. “The Euro Is Gone Within Three to Five Year,” One Expert Says (CNBC)
  27. Japan May Intervene in Yen After Brexit Vote Despite G7 Deal on Competitive Devaluations (CNBC)
  28. World’s Central Banks Try to Calm Nerves Following “Brexit” Vote (Wall Street Journal)

Daily Money & Banking News Update: 06/23/2016

  1. UK Banks Urged to Stack Up Cash in Case of Brexit (MarketWatch)
  2. What Are the Fed’s Stress Tests? (Wall Street Journal)
  3. Ecuadorians Trust the US Dollar, Not Correa’s New-Fangled Currency (PanAmPost)
  4. Rich Swiss Bank Clients Seek Refuge From Negative Rates: Study (Reuters)
  5. Big Banks Pass First Round of “Stress Test” (Financial Times)
  6. Fed’s Williams: Low “Natural” Interest Rates Aren’t Unique to the US (MarketWatch)
  7. US Banks Take Complaints Over Basel III to Senate Hearing (MarketWatch)
  8. Britain’s Financial Industry on Edge as Referendum Result Nears (Reuters)
  9. Big US Banks Have Enough Capital to Withstand Severe Stress: Fed (Reuters)
  10. Banks Curb Market Risks Ahead of Brexit Results (CNBC)
  11. Fed’s Kaplan Retreats From Favoring Summer Rate Hike (MarketWatch)
  12. Fed’s Kaplan More Patient on Rate Hikes, Watching UK Vote (Reuters)
  13. Some BOJ Members Call for More Easing Amid Worry About Weak Prices (CNBC)

Daily Money & Banking News Update: 06/22/2016

  1. Comments on the Resolution Framework for Banks and Bank Holding Companies in the United States by Vice Chairman Stanley Fischer (Federal Reserve Board)
  2. Bitcoin Is Potential National Threat, Says US Regulator (Cointelegraph)
  3. IMF Downgrades Outlook for US Economy (CNBC)
  4. Fed’s Powell: Brexit Vote Could Bring “Significant Volatility” in Markets (CNBC)
  5. Yellen: I’m “Very Hopeful” That Economic Growth Will Pick Up (CNBC)
  6. Brexit: London – The World’s Fintech Hub – Could Take a “Huge Hit” If UK Leaves EU (CNBC)
  7. Banks Claim Blockchain Breakthrough in Money Transfer (Financial Times)
  8. Global Banks Eye Frankfurt Offices in Brexit Contingency Plan (Financial Times)
  9. Fischer Defends Fed’s Too Big To Fail Approach From Kashkari (MarketWatch)
  10. Fed’s Powell Says “Ready for Whatever Happens” in Brexit Vote (Reuters)
  11. Fed’s Yellen Says No Special Meetings Scheduled Over Brexit (Reuters)
  12. Ex-Deutsche Bank Trader Pleaded Guilty in US to LIBOR Scheme: Records (Reuters)
  13. Beyond Brexit, Easy Central Banks Keep Eurozone Bonds in Demand (Reuters)
  14. Indirect Bidders Buy Record Share of US 30-Year TIPS (Reuters)
  15. High-Tech Ways Banks Are Trying to Save Seniors From Having Their Money Stolen (MarketWatch)
  16. NY Regulator: Some Banks Aren’t Complying With Settlement Pacts (Reuters)
  17. NY Fed May Do “Enhanced Monitoring” of SWIFT Money Transfers: Yellen (Reuters)
  18. Lagarde Says Fed Should Focus on Stability, Avoid “Abrupt” Moves (Reuters)
  19. Fed Economists Try to Portray Bitcoin as a Fiat Currency (Foundation for Economic Education)
  20. Goodbye, Password. Banks Opt to Scan Fingers and Faces Instead (CNBC)
  21. House Republicans Grill Janet Yellen Over Fed Operations, Independence (Wall Street Journal)
  22. Japan Mint Officer Accused of Stealing Gold Bar Worth $610,000 to Cover Trade Loss (MarketWatch)
  23. Kuroda Critic Rips Bank of Japan’s Negative Rates (MarketWatch)
  24. Yellen Agrees It Is Too Soon to Take Her “Foot Off the Pedal” to Help Labor Market (MarketWatch)
  25. ECB Restores Bond Waiver, Lets Greek Banks Tap Credit (CNBC)
  26. Central Banks Ready for Anything as “Brexit” Vote Nears (Wall Street Journal)

Daily Money & Banking News Update: 06/21/2016

  1. Semiannual Monetary Policy Report to the Congress: Testimony by Chairman Janet Yellen (Federal Reserve Board)
  2. Yellen Makes “Uncertainty” New Mantra as Market Doubts Fed View (CNBC)
  3. Amid Uneven Economic Growth, Fed’s Yellen Says Cautious Approach Still Appropriate (CNBC)
  4. New York’s Bank: The National Monetary Commission and the Founding of the Fed (Cato Institute)
  5. Fed’s Yellen Says Brexit Could Have Significant Economic Repercussions (MarketWatch)
  6. ECB Ready to Act With All Instruments, If Necessary: Draghi (Reuters)
  7. German Court Ruling on ECB Powers Comforts Bond Markets Ahead of Brexit Vote (Reuters)
  8. HSBC’s Record-Low British Mortgage Rate Sparks Risky Lending Concerns (Reuters)
  9. Germany’s Highest Court Rejects Legal Challenges Against ECB (CNBC)
  10. Introductory Comments by Governor Jerome Powell (Federal Reserve Board)
  11. Federal Reserve Says US Stocks Have Gotten Expensive (MarketWatch)
  12. Don’t Look Now! Helicopter Money Is Already Being Deployed (MarketWatch)
  13. Yellen’s Senate Hearing: Fed’s Forecasting Has Lost All Credibility (Mises Institute)
  14. European Central Bank Hones In on Shipping Loans (gCaptain)
  15. Fed’s Powell Warns That Dollar-Based LIBOR Could Disappear (Reuters)
  16. US Banks Tell Trading Clients to Brace for UK Vote (Reuters)
  17. ECB to Consider Giving Greek Banks Access to Cheap Funding: Draghi (Reuters)
  18. Negative Rates: Legal, But Not Happening, Fed Says (Wall Street Journal) (VIDEO)

Daily Money & Banking News Update: 06/20/2016

  1. An Update on Ending Too Big to Fail: Speech by President Neel Kashkari (Minneapolis Fed)
  2. ECB Corporate Debt Buys Unexpectedly High in First Full Week (CNBC)
  3. US Banks Put Regulators on Notice Over Brexit (Financial Times)
  4. US Banks Chafe at New Loan Loss Rules (Financial Times)
  5. Too-Tough Capital Rules May Stifle US Lending: Fed’s Kashkari (Reuters)
  6. Indian Central Bank Chief Hits Back at Detractors (Reuters)
  7. Brexit Could Lead to Political Instability in EU: ECB’s Makuch (Reuters)
  8. Australian “Bitcoin Founder” Quietly Bidding for Patent Empire (Reuters)
  9. Fed Sees Only Modest Impact From Brexit on US (MarketWatch)
  10. Aso Tones Down Rhetoric, Says Japan Won’t “Easily” Intervene for Yen (MarketWatch)
  11. BOJ April Minutes Show Risks to Economy, Price Growth Persist (Reuters)
  12. Bank Analysts to Face Real and Imagined Stress on Thursday (Reuters)
  13. Fed Internal Watchdog to Study Oversight of Cybersecurity at Banks (Reuters)
  14. Chinese Cash Disappearing Down Credit Black Hole (Wall Street Journal)
  15. Bitcoin Rival Ethereum Gains Traction (Wall Street Journal)

Die deutsche Antwort auf Negativzinsen: Bankschließfächer

Für unsere deutschen Leser stellen wir unseren ersten Artikel auf deutsch vor. Übersetzt und ergänzt von einem früheren veröffentlichten Artikel.

Die japanische Antwort auf Negativzinsen: Anschaffung von häuslichen Geldschränken. Andererseits die deutsche Haltung: Abhebung von Bankkonten und Verstauung in Bankschließfächern. Beide Methoden sind als Reaktion gegen eine Zinzahlung für Bankkonten verständlich. Der deutsche Fall ist besonders merkwürdig, weil die Bundesbank vor ein paar Jahren erklärte, die durchschnittliche Effektivrendite sei seit 40 Jahren negativ gelaufen. Das führt zur Frage, warum sind diese Kontoabhebungen nicht früher passiert? Nur jetzt, da nominale Zinsraten auch negativ sind, ist die Fassade von Bankkonten als sicherer Geldversteck endlich für Otto Normalbürger weggerissen.

Weekend Money & Banking News Update: 06/18-06/19/2016

  1. Goldman Sachs Says $1 Is Enough (CNBC)
  2. Governor of India’s Central Bank to Leave Post in September (MarketWatch)
  3. “Could a Trump Victory Hurt the Economy?” and Other Tough Questions Coming Janet Yellen’s Way (MarketWatch)
  4. Greece Could Lift Capital Controls by Year-End: Bank Association Head (Reuters)
  5. EU Banking Watchdog to Leave London in Case of Brexit: Chairman (Reuters)
  6. Central Banks Ready to Intervene in Case of Brexit: ECB’s Visco (Reuters)

Daily Money & Banking News Update: 06/17/2016

  1. Fed’s Bullard: Only One Rate Hike Needed Through 2018 (CNBC)
  2. Message From the Fed: “This Is As Good As It’s Going To Get” (CNBC)
  3. Bullard, Down to One Rate Hike, Says Fed Communication Confusing Markets (Reuters)
  4. Gundlach: Central Banks Don’t Understand Their Policies – And “They’re Out Of Control” (CNBC)
  5. Regulators Tell Banks: Start Planning for 2020 Loan-Loss Reserves Change (MarketWatch)
  6. Another Threat to the Future of “Paper Money”? (Coin Update)
  7. Japan: The Dash to Stash (Financial Times)

Daily Money & Banking News Update: 06/16/2016

  1. Fed Policy Plus Regulation Strangling Growth: Ex-Fed Prez Richard Fisher (CNBC)
  2. Fed Lacks Vision on Economy, “Overly Data-Dependent”: El-Erian (CNBC)
  3. The Jobs Picture Is Getting Even Worse, Philly Fed Says (CNBC)
  4. Brexit Fears Lead Bank of Japan to Leave Rates Unchanged (MarketWatch)
  5. Brexit: Central Banks Brace for Vote (Financial Times)
  6. Brexit Is Getting the Blame (Goldmoney)
  7. Lew Warns China Not to Weaken Its Currency (MarketWatch)
  8. Five Questions for Janet Yellen and the Fed (CNBC)
  9. Any Further ECB Rate Cuts Would Carry Increased Risks – Mersch (Reuters)
  10. Swiss Central Bank Keeps Rates Steady, Warns of Brexit Risk (CNBC)
  11. Bank of England Monetary Policy Statement (Bank of England)
  12. Chinese Debt Pile Poses Risks to the Global Economy, Warn Top Bankers (CNBC)
  13. A Common Central Bank Tool: Fearmongering (Mises Institute)
  14. Bank of England’s Carney Scraps Planned Speech After Lawmaker Killed (Reuters)
  15. Sweden Tests Blockchain Technology for Land Registry (Reuters)
  16. SEC Bars Ex-Goldman Banker Over Fed Leaks (MarketWatch)
  17. Bank of Canada Explores Bitcoin’s Technology (Wall Street Journal)