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Explainer-What are credit default swaps and why are they causing trouble for Europe’s banks?

Explainer-What are credit default swaps and why are they causing trouble for Europe’s banks?

© Reuters. FILE PHOTO: Deutsche Bank logo and rising stock graph are seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo   DBKGn -1.58% Add to/Remove from Watchlist Add to Watchlist Add Position Position added successfully to: Please name your holdings portfolio Type: BUY SELL Date:   Amount: Price Point Value: Leverage: 1:1…

World Bank warns of ‘lost decade’ in global growth without bold policy shifts

World Bank warns of ‘lost decade’ in global growth without bold policy shifts

© Reuters. FILE PHOTO: People look on near cranes standing at a construction site in Beijing, China January 12, 2023. REUTERS/Tingshu Wang By Andrea Shalal WASHINGTON (Reuters) -Average potential global economic growth will slump to a three-decade low of 2.2% per year through 2030, ushering in a “lost decade” for the world’s economy, unless policymakers…

PBOC official: China banks concerned about credit ratings in debt overhauls

PBOC official: China banks concerned about credit ratings in debt overhauls

© Reuters. FILE PHOTO: Paramilitary police officers stand guard in front of the headquarters of the People’s Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo By Rachel Savage JOHANNESBURG (Reuters) – Multilateral development banks (MDBs) reluctant to offer debt relief need to shoulder an “equitable burden” in…

Philippine minister says pause in rate rises likely at next bank meeting

Philippine minister says pause in rate rises likely at next bank meeting

© Reuters. FILE PHOTO: Philippine Finance Secretary Benjamin Diokno speaks during an economic briefing following President Ferdinand Marcos Jr’s first State of the Nation Address, in Pasay City, Metro Manila, Philippines, July 26, 2022. REUTERS/Lisa Marie David MANILA (Reuters) – Philippines Finance Secretary Benjamin Diokno said on Sunday he believed that the central bank was…

Biden said federal deposit insurance could be tapped further if banks fail

Biden said federal deposit insurance could be tapped further if banks fail

© Reuters. U.S. President Joe Biden speaks during a joint news conference with Canadian Prime Minister Justin Trudeau, in Ottawa, Ontario, Canada, March 24, 2023. REUTERS/Blair Gable By Andrea Shalal OTTAWA (Reuters) -President Joe Biden said on Friday that federal deposit insurance could be tapped for deposits above $250,000 if other U.S. banks fail, expressing…