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Economy

Banks call for clarity on Britain’s investment path to net-zero economy

A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, September 8, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing RightsUK Finance issues series of policy recommendationsFirst major position paper on net-zero transitionSays UK needs a stable policy environmentLONDON, Oct 20 (Reuters) - Britain needs to better track funds going into green investments to assess how much is needed from the private sector and should consider targeted tax changes to encourage sustainable projects, banking industry body UK Finance said.In its first major position paper on...
Banking

Morning Bid: Five alive: US yield curve nears historic level

A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei KatoFile Photo Acquire Licensing RightsOct 20 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.Another watershed day for U.S. Treasuries on Thursday - the entire curve came within a whisker of trading above 5% - is set to weigh heavily on Asian market sentiment on Friday and potentially seal one of the biggest weekly losses for regional stocks...
Banking

Fed developing extra ‘stress test’ scenarios to test for bank weaknesses: official

Federal Reserve Board Vice Chair for Supervision Michael Barr testifies at a House Financial Services Committee hearing on the response to the on recent bank failures of Silicon Valley Bank and Signature Bank, on Capitol Hill in Washington, U.S., March 29, 2023. REUTERS/Kevin Lamarque/ Acquire Licensing RightsWASHINGTON, Oct 19 (Reuters) - The U.S. Federal Reserve is developing additional scenarios to probe for weaknesses in large banks as part of its 2024 stress test, its top regulatory official said Thursday.Fed Vice Chair for Supervision Michael Barr said the additional scenarios, which...
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