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Nalezeno "bank deposits": 23

Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’

6.4.2024
The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured currency” to replace the struggling local currency. The structured currency banknotes will be “fully convertible into the reserve currency on demand.” The central bank has also reduced...

Ex-Fed Policy Analyst's Paper: Stablecoins Present Lower Risk Than Traditional Bank Deposits

28.7.2023
Dollar-pegged stablecoins may actually be less risky to hold than traditional bank deposits, according to Brendan Malone – a former Federal Reserve Board analyst. Now writing on behalf of technology research and investment firm, Paradigm, Malone argued on Wednesday that stablecoins are inherently...

Stablecoins pose lower risk than bank deposits, says ex-Fed policy analyst

27.7.2023
Stablecoins cannot be compared to bank deposits in terms of risk, nor can they be compared to money market funds, argues a new policy paper released by Paradigm

Mastercard is Piloting Tokenized Bank Deposits in New UK Testbed

28.6.2023
The card giant is launching what it calls a Multi-Token Network (MTN), which will begin by testing tokenized bank deposits and move onto experiments using stablecoins and CBDCs

Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts

29.4.2023
A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro...

US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’

9.4.2023
The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla...

How the Federal Reserve Is Now Competing With Banks for Deposits: Enter the Reverse Repo Facility

4.4.2023
The U.S. Federal Reserve could be competing with commercial banks due to a facility called the “overnight reverse repurchase agreement facility,” which has currently drawn in more than $2 trillion in deposits. According to analysts, this has affected bank deposits, as investors run...

Top U.S. Treasury Official Says Crypto Had No ‘Direct Role’ In Bank Failures

29.3.2023
Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, doesn’t believe that the digital assets sector should be blamed for the runs on Silicon Valley Bank (SVB) and Signature Bank that led to their quick demise earlier this month

US exploring ways to guarantee the country's 18T of bank deposits: Report

21.3.2023
The current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount

Signature Bank deposits, branches sold to Flagstar, crypto not included

20.3.2023
The 40 branches of Signature Bank will officially reopen and operate as Flagstar Bank on March 20

Signature Bank Non-Crypto Related Deposits to Be Assumed by New York Community Bancorp Unit: FDIC

20.3.2023
The 40 former branches of Signature Bank will operate under New York Community Bancorp's Flagstar Bank, N.A., as of Monday

Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits

13.3.2023
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount...

SEC Warns Against Interest-Bearing Crypto Accounts — Says They’re Riskier Than Bank Deposits

16.2.2022
The U.S. Securities and Exchange Commission (SEC) has warned investors about the “risks with accounts that pay interest on crypto-asset deposits.” The warning coincides with the first enforcement action the agency took against crypto lending platforms. SEC Warns About Risks...

Digital euro could drain 8% of bank deposits, Morgan Stanley says

16.6.2021
Banks in smaller countries like Latvia, Estonia and Greece could be impacted harder by the digital euro, analysts said

Hong Kong Security Crackdown Leads to Record Capital Outflows— Residents Reportedly Used Cryptocurrencies to Move Funds

31.3.2021
The Canadian anti-money laundering agency, Fintrac, says it recorded official capital inflows originating from Hong Kong that totaled more than $34 billion in the past year. The outflows, which are the highest since 2012 when the earliest Fintrac records are available, “are the first evidence...