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Bank Transfer Signals Syria Is Making Strides in Ending Economic Isolation

The New York Times: Banking

The bank-to-bank transfer using the SWIFT system was symbolically important, indicating the war-torn country was reintegrating into the global financial community.

Bank 85
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Banks Could Weather Even Extreme Economic Tumult, Fed Finds

The New York Times: Banking

The Federal Reserve for the first time tested major banks’ ability to withstand crisis scenarios — and the largest U.S. lenders stood tall.

Bank 108
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Bank of England Holds Rates Steady Amid Signs of Weakening Economy

The New York Times: Banking

Britain’s central bank said that interest rates would need to remain high for an “extended” period, and that economic growth was expected to be flat over much of the next two years.

Bank 131
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Scott Bessent Accuses IMF and World Bank of ‘Mission Creep’

The New York Times: Banking

Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.

Economics 136
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Fed Chair Says Central Bank Need Not ‘Hurry’ to Cut Rates

The New York Times: Banking

Jerome Powell said that strong economic growth gives Federal Reserve officials room to be patient, and he emphasized the institution’s political independence.

Economics 142
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People’s Bank of China Cuts Reserve Requirement to Spur Bank Lending

The New York Times: Banking

The People’s Bank of China will allow commercial banks to hold less money in reserve, but businesses and households have been cautious about borrowing.

Bank 132
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Bank of Japan Raises Interest Rates for Second Time Since 2007

The New York Times: Banking

The closely watched move by the Bank of Japan could bolster the country’s beleaguered currency.

Bank 143