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FSB Examines Italy’s Progress In Reducing Non-Performing Loans In Its Banking Sector

Date 18/01/2024

• Peer review reports success by the Italian authorities in reducing non-performing loans (NPLs) on bank balance sheets, developing the secondary NPL market and improving the domestic legal and institutional framework.
• Additional steps that can be taken to improve the management of NPLs in the banking sector include maintaining a robust secondary market for NPL disposal and further improving the efficiency of insolvency, debt restructuring and enforcement.

EBA Consults On Amending The Data Collection For The Benchmarking Exercise In 2025

Date 18/01/2024

The European Banking Authority (EBA) today published a consultation paper amending the Implementing Regulation on the benchmarking of credit risk, market risk and IFRS9 models for the 2025 exercise. The most significant change is in the market risk framework, where the EBA is proposing brand new templates for the collection of the internal model approach (IMA) risk measures under the fundamental review of the trading book (FRTB). For credit risk only minor changes are being proposed. This consultation runs until 27 March 2024.

UK Banks Lag US Banks In Innovation – Only 290 Patents Filed In The Last Decade

Date 18/01/2024

The UK’s biggest banks have filed just a fraction of the patent applications of their American counterparts over the last 10 years, with the top five UK banks collectively applying for just 290 patents while the top 3 US banks collectively applied for 5,027, says intellectual property law firm Mathys & Squire.

MNI Indicators: Chicago Business Barometer™ - December Adjusted Higher - Stronger Activity in Q3-202

Date 18/01/2024

The Chicago Business BarometerTM, produced with MNI, was revised up to 47.2 in December from 46.9, as result of the annual seasonal adjustment recalculation.

LiquidityBook Achieves Record Success in 2023 - Sets Sights On Further Growth In 2024

Date 18/01/2024

LiquidityBook, a leading provider of cloud-native buy- and sell-side trading solutions, is delighted to announce its record-breaking successes in 2023, having achieved its 18th consecutive year of double-digit growth, and is excited to unveil its plans for continued growth in the new year.

US VC Funding Plunges 45.6% In 2023; Takes 11 Months To Hit $100 Billion Compared To Just Five Months In 2022, Reveals GlobalData

Date 18/01/2024

• Total VC funding value stood at $109.4 billion
• Continues to be major driving force for global VC funding activity
• Accounts for 46.7% of global deal value in 2023

EquiLend To Be Acquired By Welsh, Carson, Anderson & Stowe - Private Equity Backing Set To Fuel Additional Growth

Date 18/01/2024

EquiLend, the global technology, data and analytics company for the securities finance industry, today announced that private equity firm Welsh, Carson, Anderson & Stowe (WCAS) has agreed to acquire a majority stake in the company. The acquisition is set to close in Q2 2024, subject to regulatory approvals.

Saudi Tadawul Group Acquires A Strategic Stake In Dubai Mercantile Exchange Creating Gulf Mercantile Exchange

Date 18/01/2024

• Saudi Tadawul Group will acquire a 32.6% stake in DME Holdings Limited, the parent company of Dubai Mercantile Exchange (DME), through the acquisition of a mix of new and existing shares, becoming the joint largest shareholder alongside CME Group.
• DME will be rebranded as the Gulf Mercantile Exchange to reflect its position as the key regional commodities exchange in the Middle East with global relevance.
• Through DME's flagship DME OQD Contract - the crude oil futures contract that generates the world's largest amount of physically delivered crude oil - physical delivery volumes reached 210 million barrels of oil in 2023, up from 181 million in 2022.
• The investment by Saudi Tadawul Group brings together world-class strategic partners and expertise to accelerate DME's growth potential, including CME Group, the Oman Investment Authority, and Dubai Holding alongside global financial and commercial shareholders.
• The partnership will unlock further opportunities in the energy, metals, and agricultural commodity markets and support the ongoing transition to a sustainable economy through the launch of next-generation derivative contracts.

Alviere Expands Its Reach To 500M Mobile Wallets In Africa - Onafriq And Alviere Partner To Launch Embedded Remittances And Other Payment Services From The United States To Africa

Date 18/01/2024

Alviere, the leading embedded finance platform provider, announces Onafriq, Africa’s largest digital payments network, has chosen Alviere to enable payments and remittances from the United States to Africa. Onafriq connects various  payment schemes with more than 500 million mobile wallets, over 200 million bank accounts, and 400 thousand small medium businesses in its network across Africa’s fast-growing yet fragmented payments ecosystem.

DV Group Announces Strategic Expansion, Building On Global Presence, Further Diversifying Offerings

Date 18/01/2024

DV Group, a diversified global financial services firm, today announced a significant strategic expansion across its subsidiary trading companies, including DV Energy, a division of DV Trading. The expansion marks DV Group's latest strides in its commitment to providing liquidity to the global financial markets across all asset classes.