THE failure of the European Union (EU) to complete its banking union is putting the continent’s lenders at a strong disadvantage, said UBS Group chairman Colm Kelleher on Wednesday (Jan 18).
THE yen dropped against major currencies on Wednesday (Jan 18) after the Bank of Japan maintained ultra-low interest rates, although it recovered some ground on expectations for tighter policy in the coming months.
UBS chairman Colm Kelleher said traditional finance firms were “systemically safe” after years of increased regulation, but guardians of global financial markets had further to go to eradicate the risks posed by the non-banking sector.
JAPANESE government bond yields tumbled, falling the most in two decades at one point on Wednesday (Jan 18), retreating sharply from the central bank’s 0.5 per cent ceiling after policymakers decided to keep yield curve controls in place.
COINBASE Global is halting operations in Japan, less than a month after another major digital asset exchange Kraken announced its withdrawal from the country.
THE Bank of Japan on Wednesday maintained ultra-low interest rates, including its 0.5 per cent cap for the 10-year bond yield, defying market expectations it would phase out its massive stimulus programme in the wake of rising inflationary pressure.
HASHKEY Capital has raised US$500 million to create one of Asia’s biggest crypto investment pools, betting on a rebound in the industry still reeling from the collapse of FTX.
DIGITAL Currency Group (DCG), the struggling crypto empire, said it’s suspending quarterly dividends until further notice as the company seeks to preserve cash.
