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Readout: US Secretary Of The Treasury Janet L. Yellen’s Call With First Vice President Of Spain And Minister For The Economy And Digital Transformation Nadia Calviño

Date 04/04/2023

Today, U.S. Secretary of the Treasury Janet L. Yellen spoke with Spanish First Vice President and Minister for the Economy and Digital Transformation Nadia Calviño. Vice President Calviño is the Chair of the International Monetary and Financial Committee (IMFC), the policy advisory committee of the Board of Governors of the International Monetary Fund (IMF). They discussed the upcoming IMFC meetings, recent developments in the global economy and financial system, and the need to continue support for low-income and vulnerable countries. Secretary Yellen highlighted the importance of timely action to finalize outstanding debt restructuring cases and emphasized the Biden administration’s request for Congressional authorization to lend up to $21 billion to the IMF’s Poverty Reduction and Growth Trust and the Resilience and Sustainability Trust.  

CFTC Commissioner Goldsmith Romero To Participate In The Digital Security Threats Panel At AFCEA’s 2023 Tech Summit

Date 04/04/2023

ISDA Guidance: SOFR Publication On Good Friday 2023

Date 04/04/2023

ISDA guidance for parties to over-the-counter derivative transactions affected by expected non-publication of SOFR on Good Friday in 2023.

US Office Of The Comptroller Of The Currency Releases CRA Evaluations For 35 National Banks And Federal Savings Associations

Date 04/04/2023

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of March 1, 2023, through March 31, 2023. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.

Federal Reserve Governor Lisa D. Cook, At "Exploring Careers In Economics," A Conference Sponsored By The Board Of Governors Of The Federal Reserve System, Washington, D.C.

Date 04/04/2023

Good afternoon, and welcome to "Exploring Careers in Economics."

I am disappointed I cannot be with you in person, but I am thrilled you will hear from Boston Fed President Susan Collins. She is an outstanding colleague and economist, a good friend. You are in for a fantastic discussion.

Robust EU/EEA Banking Sector Shows Strong Capital And Liquidity Ratios

Date 04/04/2023

The European Banking Authority (EBA) today published its quarterly Risk Dashboard (RDB) together with the first edition of the RDB on minimum requirement for own funds and eligible liabilities (MREL). Volatility in EU/EEA banks’ equity and debt has been strongly affected by Silicon Valley Bank (SVB) and Credit Suisse related events, although direct exposures of EU/EEA banks towards these banks were limited according to indications from supervisory reporting as of Q4 2022. Banks’ capital and liquidity ratios remain strong and profitability continues to increase.

Joint Trade Associations Response To EC On EU Benchmarks Regulation

Date 04/04/2023

On March 29, 2023, ISDA, the European Association of Corporate Treasurers, the Trade Association for the Emerging Markets, the Futures Industry Association and the Global Financial Markets Association submitted a joint response to the European Commission’s (EC) call for evidence on the review of the scope and third-country regime of the European Union (EU) Benchmarks Regulation (BMR).

CFTC Commissioner Johnson To Participate A Fireside Chat At The City Week 2023 Meeting: Global Challenges Through Innovation

Date 04/04/2023

BIS: Crypto Carry

Date 04/04/2023

Summary

Focus 

The cryptoassets ecosystem has matured to a point where cash and derivative instruments are now actively traded both on native crypto exchanges as well as on traditional exchanges. We study one of the most salient features of these instruments in recent years: the large difference between spot and futures prices, the so-called futures basis or "crypto carry". The crypto carry encapsulates the return on a simple "cash and carry" strategy: going long in the spot market, while selling short in the futures contract. We analyse the crypto carry observed for the two major digital assets, Bitcoin and Ethereum, shed light on its economic drivers, and study how these are connected to the boom-and-bust dynamics often seen in crypto markets.

Moscow Exchange Trading Volumes In March 2023

Date 04/04/2023

In March 2023, total trading volume across Moscow Exchange’s markets made up 26.3% to reach RUB 105.6 trln (RUB 83.6 trln in February 2023). Unless stated otherwise, all figures below refer to performance for March 2023 and all comparisons are with February 2023.