News Analysis The flow of credit in the Canadian economy is slowing. This is the effect of much higher interest rates—as engineered by the Bank of Canada—but the other component that could amplify the slowdown is more restrictive bank lending due to their lower risk appetites, concerns about clients’ creditworthiness, and regulatory supervision. Oxford Economics…
Bank of America Enlists Thousands of Employees for Wealth Lending Group
NEW YORK—Bank of America Corp. created a new group in its global wealth and investment management division to focus on lending to rich clients, the company told Reuters on Monday. Chief Executive Officer Brian Moynihan tapped April Schneider last month to lead the 3,500-person wealth management banking and lending group. She reports jointly to Andy…
US Treasury Diplomat Nominee Aims to Curb China’s Lending Influence
July 14, 2022
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Business & MarketsChinaChina Business & EconomyeconomyInternational RelationslendingUSUS Newsus treasuryUS-China relations
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WASHINGTON—The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and development banks to give countries borrowing alternatives. Jay Shambaugh is President Joe Biden’s choice for Treasury undersecretary for international affairs. If confirmed, the George Washington University…
Raskin Tells Senate It Is Not Fed’s Job to Prescribe Bank Lending
WASHINGTON—Sarah Bloom Raskin, President Joe Biden’s pick to lead the Federal Reserve’s regulatory work, plans to tell lawmakers she does not believe the role includes telling banks where they should be lending. In prepared testimony posted by the U.S. Senate Banking Committee on Wednesday ahead of her nomination hearing on Thursday, Raskin said the role…
SEC Threatens to Sue Coinbase Over Crypto Lending Programme
HONG KONG—The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc if the crypto exchange goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets, Coinbase said on Wednesday. The SEC has issued Coinbase with a Wells notice, an official way it tells a…
GOP Senators Unveil Bill to End Lending to Chinese Regime From Multilateral Development Banks
August 5, 2021
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Business & EconomyChinacongresseconomyFinance & Business TieslendingPoliticsRepublicansSpecial TopicsUSUS NewsUS-China relationsWorld Bank
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Eighteen Republican senators introduced legislation on Wednesday to end lending to China from multilateral development banks, including the World Bank and the Asian Development Bank. The new bill (pdf), S. 2587, would establish that it is U.S. policy to oppose any additional loan, extension, or technical assistance from multilateral development banks to China. Multilateral banks were created to…
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