Saudis Risk Draining Financial Assets in 5 Years, IMF Says – Bloomberg Saudi Arabia may run out of financial assets needed to support spending within five years amid the drop in oil prices if the government maintains current policies, the International Monetary Fund said.
Carney, Bailey, Defend SMR Changes – Profit & Loss Bank of England Governor Mark Carney and Prudential Regulatory Authority head, Andrew Bailey, have defended proposed changes to the UK’s Senior Manager Regime.
Day One of Trading on Trudeau Shows New PM’s Optimism Contagious – Bloomberg The Canadian dollar rallied with equities as a victory for Justin Trudeau’s Liberal Party spurred optimism that increased spending will help lift economic growth.
Lending Conditions for Euro Zone Companies Ease on ECB Stimulus – Reuters Credit standards for euro zone companies eased more than expected in the third quarter of 2015 as banks awash with central bank money competed for customers, a European Central Bank survey showed on Tuesday.
Banks say New Rules will Double Capital Needed to Cover Securitised Debt – Reuters Banks will have to double the amount of capital they hold to cover possible default on their pooled-debt under planned new global rules, potentially hampering the EU’s drive to boost market-based financing for the economy.
Jackson Named Head of BoE’s FX Division – FX Week (subscription) The UK’s central bank appoints Rebecca Jackson as the new head of foreign exchange. Rebecca Jackson has been appointed as head of the Bank of England’s (BoE) foreign exchange division, replacing Michael Cross who left in July after six years in the role.
Hedge Fund Assets Decline by Biggest Amount Since Financial Crisis – New York Times For years, the hedge fund industry attracted billions of dollars as investors searched for higher returns. But over several rocky months, managers reversed their gains for the year, investors headed for the exit and some firms shut down.
Blockchain Coming to Wall Street – Markets Media Large financial institutions are rarely first movers on any new technology, and predictably, institutional interest in bitcoin remains somewhat tepid. But that may be starting to change.