ECB

Currency swap debt is an $80 trillion global regulator, says 'blind spot'

Currency swap debt is an $80 trillion global regulator, says ‘blind spot’

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LONDON, Dec 5 (Reuters) – Pension funds and other “non-bank” financial firms hold more than $80 trillion in hidden off-balance sheet dollar debt in foreign exchange swaps, the Bank for International Settlements (BIS) said. ). The BIS, dubbed the central bank of central banks around the world, also said in its latest quarterly report that …

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Column: Dodging the Recession Could Whip the Markets: Mike Dolan

Column: Dodging the Recession Could Whip the Markets: Mike Dolan

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LONDON, Dec 2 (Reuters) – A recession of sorts next year is quickly becoming a consensus – so much so that financial markets could find themselves whipped if they don’t materialize. The crux of most outlooks for 2023 is a year of contraction in activity at some point, disinflation and interest rate spikes. The result …

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ECB Says Bitcoin Is On “Road To Irrelevance” Amid Crypto Meltdown

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The European Central Bank says bitcoin is on an “artificially induced last gasp before the path of irrelevance,” in a scathing intervention arguing against granting regulatory legitimacy to the cryptocurrency. In a strongly worded blog post, European Central Bank (ECB) senior executives Ulrich Bindseil and Jürgen Schaaf criticized bitcoin for being a hotbed of illegal …

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