Finance & Money Edge

Digital Currencies…Coming to a Central Bank Near You?

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The amount of fiscal stimulus and the accelerated acceptance of all things digital and online (despite the availability being there for years…) is triggering central banks around the world seriously looking at the adoption of central bank issues digital currencies. While there is no specific timeline, it does look like the possibility of adoption has …

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Citigroup Fined for Risk Management Problems

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Another week goes by, and another bank is fined. (I swear I’m not trying to beat up on banks, but they keep providing fodder). Citigroup is the latest to be fined $400 million for engaging in “unsafe and unsound banking practices”…ouch. Risk management and back office operations are clearly in need of attention and perhaps …

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JP Morgan’s Market Manipulation

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JP Morgan was found to be guilty of manipulating commodities markets using a tactic known as “spoofing”. The U.S. bank is fined $920M for the infraction. The infraction involved fifteen traders over a span of eight years of manipulating treasury contracts. By manipulating the price of gold and silver futures, they caused an overall loss …

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World’s Oldest Bank Fizzles Out

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During the Global Financial Crisis, we saw that no bank or institution was too established to fail (hello Lehman’s). Now, Banca Monte dei Paschi di Siena SpA, one of the world’s oldest banks, is being shopped around for a potential rescuer/buyer. Marred by years of scandals and bailouts and loaded full of risks – finding a …

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Britain Looking to Stop Money Laundering

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Didn’t we hear this before? Britain’s government stated it is looking to stop money laundering from flowing through its banks after one of Britain’s largest bank, HSBC, has been found (again) to have let illicit funds pass through. Despite the fact anti-money laundering training and recent hefty fines, it still looks like the severity of …

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