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BIS: Is The Covid-19 Pandemic Fast-Tracking Automation In Developing Countries? Evidence From Colombia

Date 10/11/2022

Summary

Focus 

Recent evidence suggests that the Covid-19 pandemic has tended to accelerate the automation process in developed economies. We assess whether this is also happening in Colombia, a developing country characterised by a combination of low investment in research and development (R&D) and productivity, and high levels of informal labour and unemployment. In this context, the mobility restrictions imposed by the government in order to reduce the spread of the virus and the fear of contagion led to a reduction in labour supply, increasing labour cost relative to capital, which in turn could have enhanced automation.

US Treasury Releases Report On Macroeconomic And Foreign Exchange Policies Of Major Trading Partners Of The United States

Date 10/11/2022

The U.S. Department of the Treasury delivered its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.  In this Report, Treasury reviewed and assessed the policies of major U.S. trading partners, comprising roughly 80 percent of U.S. foreign trade in goods and services, during the four quarters through June 2022.

The FTX Collapse: A Market Analysis, By Clara Medalie, Riyad Carey, And The Kaiko Research team

Date 10/11/2022

First came the Terra collapse. Then the bankruptcies of the centralized lenders. And now the (almost certain) insolvency of FTX, one of the largest cryptocurrency exchanges in the world. 

Federal Reserve Supervision And Regulation Report

Date 10/11/2022

The report summarizes banking conditions and the Federal Reserve’s supervisory and regulatory activities, in conjunction with semiannual testimony before Congress by the Vice Chair for Supervision.

Securities Commission Of The Bahamas Freezes Assets Of FTX

Date 10/11/2022

Today, the Securities Commission of The Bahamas (the Commission) took action to freeze assets of FTX Digital Markets and related parties. The Commission also suspended the registration and applied to the Supreme Court of The Bahamas for the appointment of a provisional liquidator of FTX Digital Markets Ltd. (FDM).

Readout: US Deputy Secretary Of The Treasury Wally Adeyemo’s Trip To Europe

Date 10/11/2022

Deputy Secretary of the Treasury Wally Adeyemo traveled to Paris, France, London, UK, and Brussels, Belgium from November 7-9 to continue close coordination with foreign counterparts on economic measures — including sanctions and export controls — to counter Russia’s war, implementation of the price cap on Russian oil, and economic assistance for the Ukrainian people. The Deputy Secretary also met with executives from the financial and energy sectors to to hear their perspectives on reducing Putin’s revenues to help ensure Russia does not profit from the brutal war against Ukraine.

FSB Sets Out Policy Proposals To Address Systemic Risk In Non-Bank Financial Intermediation

Date 10/11/2022

The Financial Stability Board (FSB) published today a progress report to the G20 on enhancing the resilience of non-bank financial intermediation (NBFI), including a set of policy proposals to address systemic risk in NBFI and programme of further work. Recent strains in commodities and bond markets underscore the importance of this topic

Is Binance Partially To Blame For The Near Collapse Of FTX? Social Media Market Manipulation Has Reared Its Ugly Head Once Again - SteelEye Comment

Date 10/11/2022

In the wake of the news that crypto exchange FTX is on the brink of collapse, Matt Smith, CEO and co-founder of compliance technology and data analytics firm, SteelEye, commented about the part Binance played in FTX’s fall from grace:

Bank Of England Sets Out Plans For A Demand-Led Approach To Unwind Recent Financial Stability Gilt Purchases In A Timely But Orderly Way

Date 10/11/2022

Between 28 September and 14 October 2022 the Bank of England, in line with its financial stability objective, conducted temporary and targeted purchases of index-linked and long-dated conventional UK government bonds (gilts). The objective of those purchases was to restore orderly market conditions following dysfunction in the UK gilt market, and in doing so reduce risks from contagion to credit conditions for UK households and businesses.

Fiserv To Present At Citi’s 2022 FinTech Conference

Date 10/11/2022

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced today that   Frank Bisignano, Chairman, President and Chief Executive Officer, will be a keynote speaker at the Citi 2022 FinTech Conference on Monday, November 14, at 3 p.m. ET.