(Nov 21) The Financial Stability Board (FSB) published the 2017 list of global systemically important banks (G-SIBs) using end-2016 data and an assessment methodology designed by the Basel Committee on Banking Supervision (BCBS). Read more here.
The FSB, in consultation with the IAIS (International Association of Insurance Supervisors), decided not to publish a new list of G-SIIs (global systemically important insurers) for 2017. Policy measures will continue to apply to the firms listed in the 2016 G-SII communication. Read the statement here.
The dangerous data hack that you won't even notice
By focusing only on hackers' efforts to extort money or mess with our political process, we may have been missing what is potentially an even scarier possibility: data manipulation.
(Nov 21) -- Federal Open Market Committee members generally agreed their Nov. 1 statement needed to include only a "brief reference" to the central bank's balance sheet normalization program, and that future statements may not mention it at all, minutes from the Oct. 31-Nov. 1 meeting show. Some key takeaways:
Many FOMC participants are ready to hike rates "in the near term" - a fairly clear signal that December is the plan, absent some economic shock.
The pace of rate hikes for 2018 and whether to hike in March are open questions.
The FOMC is a bit discouraged that inflation may take longer than expected to get to the 2% target.
Asset-price bubbles have returned as a potential concern. There is a heightened awareness of financial stability issues.
The FOMC is monitoring the congressional tax plan closely, and the tax cuts are seen as potentially boosting investment.
The committee is happy with the balance sheet normalization, which has gone very smoothly.
World leaders to meet under all-female co-chair team at Davos 2018
The next World Economic Forum of world leaders and CEOs in Davos will be chaired by women including International Monetary Fund director Christine Lagarde, Norwegian Prime Minister Erna Solberg and IBM's chief executive Ginni Rometty.
How to shop smart on Black Friday (and Cyber Monday)
Long before your Thanksgiving dinner has settled, retailers start to lure you in on Black Friday and Cyber Monday with doorbuster sales and in-store discounts.