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News release The Prudential Regulation Authority (PRA) has today announced plans to consult on reforming rules around shared operational services for ring-fenced banks. Any bank that has over £35 billion of core deposits and undertakes material investment banking activity is subject to the ring-fencing regime, which was introduced in 2019 as a post-financial crisis reform….
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7904 compared to the previous day’s fix of 6.7895 and 6.7548 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability,…
By cherry-picking 12 data points that supposedly contradict top ratings agencies’ assessment of Mexico’s economy and fiscal outlook, Mexican President Claudia Sheinbaum recently presented a just-so story that should convince no one. A glimpse of what her list excludes makes that clear. MEXICO CITY—In response to Moody’s and S&P’s negative assessments of Mexico’s economic and…
Financial giants in Japan partner with AI firms to build zero-trust cybersecurity defenses. This article appears in the July/August issue of Global Finance Magazine. Japan’s banking sector is becoming a high-stakes proving ground for AI-driven cybersecurity. As autonomous “frontier AI” models rapidly increase the speed and scale of cyberthreats by identifying zero-day vulnerabilities, the country’s…
News release The Bank of England (the Bank), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will start overseeing the first Critical Third Parties (CTPs) on Monday 13 July 2026, following designation by HM Treasury (HMT). Critical Third Parties (CTPs) are technology and other service providers whose services underpin the UK financial…
Most of the world seems to misunderstand why global capital is not financing the developing world’s climate transition. The real problem lies in the structure of price formation, which policymakers can best address by focusing on three key priorities. NEW DELHI—The world possesses an enormous stock of long-term savings, and the Global South boasts…
