UniCredit and Raiffeisenbank are the first banks to take a stand against European Central Bank sanctions on Russia by appealing to the European Court of Justice. Based in Milan, UniCredit argues that the ECB’s demands go beyond its authority and has asked to freeze these requirements. The sanctions put banks
On the ECB blog, Piero Cipollone intensified his claims that BRICS is “fragmenting” the global monetary system. Cipollone highlighted how countries like China, Iran, and Russia are creating alternative payment systems, disrupting global financial efficiency. The European Central Bank (ECB) official Piero Cipollone, who previously declared that inflation is caused
Argentina’s top presidential contender, Javier Milei, known as an anarcho-capitalist, created turmoil in local financial markets and caused currency devaluation after his surprising victory in the Sunday primary. Adding to the astonishment, he declared his intention on Wednesday to shut down the country’s central bank. Despite this, he emphasized his
International Monetary Fund Managing Director Kristalina Georgieva stated that the IMF is “working hard” on a global central bank digital currency platform. The International Monetary Fund (IMF) is “working hard” on a “global CBDC (Central Bank Digital Currency) platform,” the IMF managing director announced Monday. “If we are to be
UMU, the Central Bank Digital Currency, has been launched. Although the IMF has not officially endorsed UMU, George Walker, a partner at Practus, LLP, noted that the organization had not raised objections to its foreign exchange premium rates or its monetary sovereignty approach.
According to a recent analysis from the Cato Institute assessment report published on Tuesday, Central Bank Digital Currencies are a foundational threat to America’s economic systems.
According to experts, the Federal government is using the Silicon Valley banking crisis to usher in central bank digital currency.
The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.
Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure.