What is central bank digital currency (CBDC)?
Mckinsey and Company
MARCH 1, 2023
CBDCs are digital currencies issued by central banks. Their value is linked to the issuing country’s official currency.
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Central bank digital currencies: An active role for commercial banks
Mckinsey and Company
OCTOBER 13, 2022
With central banks increasingly exploring central bank digital currencies (CBDCs), now is the time for commercial banks to establish their role in a fast-changing landscape.
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Bullish Buys CoinDesk From Digital Currency Group
Law 360 M&A
NOVEMBER 20, 2023
Digital assets exchange Bullish said Monday it has purchased cryptocurrency-focused media company CoinDesk from Digital Currency Group, appointing former Wall Street Journal Editor-in-Chief Matt Murray as chair of its editorial committee.
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Expert Insights: Navigating the Impact of Currency Risk on Business Valuation
Equilest
JANUARY 26, 2023
To dive deeper into the topic of Currency Risk and its impact on business valuation, check out our detailed article on the subject. He has a wealth of experience in assessing and evaluating companies, and has spent years studying the impact of currency risk on business valuation.
Data Update 3 for 2021: Currencies, Commodities, Collectibles and Cryptos
Musings on Markets
JANUARY 27, 2021
In this post, I will take a look at these other markets, starting with a way of dividing investments into assets, commodities, currencies and collectibles that I find useful in thinking about what I can (and cannot) do in those markets, and then reviewing how these markets performed during 2020. Currencies : A currency serves three functions.
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Skadden Discusses First OFAC and FinCEN Parallel Enforcement Actions on Virtual Currency
Reynolds Holding
NOVEMBER 22, 2022
Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) announced settlements for approximately $24 million and $29 million, respectively, with virtual currency exchange Bittrex, Inc. AML and sanctions laws. Below is a summary of the key takeaways.
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Indexing and the Incorporation of Exogenous Information Shocks to Stock Prices
Harvard Corporate Governance
JANUARY 22, 2024
Specifically, similar idiosyncratic foreign currency shocks move the idiosyncratic stock returns of firms sensitive to those currencies 60% less when the firm is in the S&P 500 index than in proximate times when it is not in the index.
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The Drawbacks Of Banking Regulators' Merger Review Plans
Law 360 M&A
APRIL 26, 2024
Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp.
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Comment on Dazzled by Wizardry, Federal Mortgage Regulators Ignore Zillow Debacle by Baggins
Appraisers Blog
JUNE 16, 2023
Placing an entire country in a usury debt based currency system. The federal reserve seeks to devalue your currency 2%, year over year over year. A private corporation whom creates money out of thin air, backed by nothing. The last jubilee was a mere decade ago, rolling around again soon. You and I will not be the beneficiaries.
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‘Everything in UK is on sale,’ says US private equity executive
Financial Times M&A
OCTOBER 12, 2022
Ares Management’s Blair Jacobson expects US buyers to take advantage of weak British currency
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Paypal Mints Stablecoin
Global Finance
AUGUST 31, 2023
Unlike are forms of cryptocurrency, stablecoins are typically backed by an asset or a basket of assets like gold or a traditional fiat currencies like the U.S. dollar or Euro.
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How finance sector treasurers can get ready for CBDCs and stablecoins
Mckinsey and Company
DECEMBER 15, 2022
Central bank digital currencies and stablecoins could reshape financial services. Treasury managers can play a central role in optimizing the related opportunities—and handling of the risks.
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Top OCC Lawyer Calls For 'Better Mousetrap' In Bank Mergers
Law 360 M&A
FEBRUARY 10, 2023
The Office of the Comptroller of the Currency's top lawyer on Friday called for regulators to "build a better mousetrap" for reviewing bank merger transactions, saying there's a greater chance that harmful mergers will get approved if the current review framework isn't updated.
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Comment on Appraisal Reviews for $3 – The Devaluation of Appraisers by Baggins
Appraisers Blog
JANUARY 17, 2024
I was looking at currency conversion and affordability indexes, they’re everyday workers at those wages, but in India. There is the factor of risk though, because there are a lot of corrupt industries in India, but they’re not all that way. They’re in another country and can run the benefit of scale. They seem nice enough.
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Multinationals Get Squeezed
Global Finance
JUNE 4, 2023
North American industries most affected by currency exposure were professional services, biotech and pharmaceuticals, machinery, trading and distribution, chemicals and health equipment and supplies.
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Bumper City bonuses expected from takeover frenzy after pound hits record low
The Guardian M&A
SEPTEMBER 27, 2022
The currency has fallen by more than a fifth against the dollar this year. A fresh frenzy of merger and acquisition activity would mean a ramp-up in payouts for City dealmakers. Sterling fell by nearly 5% at one point on Monday to $1.0327, its lowest since Britain went decimal in 1971. Continue reading.
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Activists anticipate the coming recession
Harvard Corporate Governance
OCTOBER 24, 2022
and Europe, where weak currencies have cut into earnings forecasts. Demands for cost-cutting and debt reduction are on the rise, as well as greater scrutiny of merger and acquisition (M&A) deals, especially in the U.K Yet, in the longer term, U.S.
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US Lawmakers Race To Introduce Bill Aiming To Exempt Small Crypto Transactions From Capital Gains Tax
Benzinga
JULY 26, 2022
What Happened: The Virtual Currency Fairness Act , introduced by Sens. A bill has been introduced to the U.S. Senate that would make small cryptocurrency transactions exempt from capital gains taxes.
Data Update 3: Inflation and its Ripple Effects!
Musings on Markets
JANUARY 27, 2022
By the end of 2021, it was clear that this bout of inflation was not as transient a phenomenon as some had made it out to be, and the big question leading in 2022, for investors and markets, is how inflation will play out during the year, and beyond, and the consequences for stocks, bonds and currencies.
Hedge funds look to exploit M&A pick-up
Financial Times M&A
OCTOBER 14, 2022
The relentless rise of the dollar has boosted the buying power of investors with funding in the US currency
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Do I need to report cryptocurrency to the IRS?
Henry Horne
MARCH 24, 2022
Originally coined in 2009, Virtual Currency refers to “a digital representation of value that functions as a medium of exchange, a unit of account and/or a store of value.” ” In some environments, it operates like real currency, but it does not have legal tender status in the United States.
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CoinDesk Ropes In Lazard Advisors To Weigh Sale: Report
Benzinga
JANUARY 19, 2023
Coinbase Global, Inc (NASDAQ: COIN ) reportedly hired Lazard, Ltd (NYSE: LAZ ) advisors as it explored a potential sale that would remove it from Barry Silbert's Digital Currency Group (DCG). CEO Kevin Worth's email acknowledged receiving numerous inbound indications of interest in CoinDesk, CNBC reports.
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Financial Regulators, Black History and Epistemic Capital
Harvard Corporate Governance
MARCH 15, 2023
It is a great pleasure to be here with you, the great public servants of the Office of the Comptroller of the Currency. This post is based on his recent keynote address. It is also particularly humbling for a securities law professor. My work is about markets, and market integrity.
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Third-Party Service Providers and Vendor Management: What Banks Need to Know About New Guidance
N Contracts
JUNE 9, 2023
This n ew vendor management guidance from the federal regulatory agencies aligns vendor management requirements among the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve and replaces existing guidance.
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What To Know About OCC Proposals For Bank Merger Review
Law 360 M&A
FEBRUARY 23, 2024
The Office of the Comptroller of the Currency's proposed changes to the agency's bank merger review process could exacerbate industry concerns with long and unpredictable processing periods because the proposal is ambiguous with respect to how the OCC will view certain transactions, say attorneys at Simpson Thacher.
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Remarks by Chair Gensler Before the Investment Adviser/Investment Company National Seminar
Harvard Corporate Governance
NOVEMBER 16, 2022
Written nearly four millennia ago, the code included various provisions about borrowing, lending, and interest rates related to silver and grain, the currencies of the day. [3] That brings me to the second text, one written in stone: the Hammurabi Code. more…).
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Data Update 3 for 2024: Interest Rates in 2023 - A Rule-breaking Year!
Musings on Markets
JANUARY 24, 2024
That same phenomenon played out in other currencies, as government bond rates rose in Europe and Asia during the year, ravaging bond markets globally. Other Currencies The rise in interest rates that I chronicled for the United States played out in other currencies, as well.
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Barry Silbert's DCG Can't Meddle With Genesis Ownership Until Chapter 11 Finalizes: Court
Benzinga
DECEMBER 19, 2023
Genesis won a bid to block its parent company, the Barry Silbert -led Digital Currency Group (DCG) , from selling or reducing ownership in the company.
OCC's Hsu Floats 'Chalk Lines' For Bank Merger Approvals
Law 360 M&A
JANUARY 29, 2024
The Office of the Comptroller of the Currency's acting chief said Monday that his agency will seek to improve the transparency of its bank merger review process by sketching out what kinds of deals are likely to get greenlit while at the same time scrapping a mechanism that allows for automatic approvals.
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Banking regulatory tide set to turn in 2023
LaPorte
APRIL 4, 2023
The Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and Federal Reserve have zeroed in on numerous regulatory changes for 2023. The post Banking regulatory tide set to turn in 2023 first appeared on LaPorte.
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Comment on Average AMC Appraisal Fee to the Appraiser by Bowen
Appraisers Blog
APRIL 24, 2023
The advice online is to file a complaint – with your state’s appraisal board, the Office of Comptroller of the Currency, the Consumer Financial Protection Bureau, and the FDIC. I have done only initial research on this topic, and have not yet acted on it. I hope everyone starts filing complaints.
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Comment on Average AMC Appraisal Fee to the Appraiser by Tammy Bowen
Appraisers Blog
APRIL 24, 2023
The advice online is to file a complaint – with your state’s appraisal board, the Office of Comptroller of the Currency, the Consumer Financial Protection Bureau, and the FDIC. I have done only initial research on this topic, and have not yet acted on it. I hope everyone starts filing complaints.
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Remarks by Chair Gensler Before the International Swaps and Derivatives Association Annual Meeting
Harvard Corporate Governance
MAY 12, 2022
Swaps emerged in the 1980s to provide producers and merchants with a way to lock in the price of commodities, interest rates, and currency rates. As is customary, I’d like to note that I’m not speaking on behalf of my fellow Commissioners or the SEC staff.
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Country Risk: A 2022 Mid-year Update!
Musings on Markets
JULY 13, 2022
Country Risk: Currency and Cost of Capital As a final part to this post, to see the shifts in country risk that we have seen in 2022, let’s start with an assessment of risk free rates. That increase in interest rates is not restricted to the US dollar, as local currency government bond rates have risen around the world.
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Board Gatekeepers
Harvard Corporate Governance
MAY 31, 2022
The Office of the Comptroller of the Currency found that the Wells Fargo board had known about fudged sales numbers for eleven years before the scandal broke. For outsiders, the aftermath was shocking; regulators fined Wells Fargo $3 billion and Wells Fargo fired 5,300 employees.
252 Another overlooked risk assessment problem
Norman Marks
FEBRUARY 20, 2023
Too many want to quantify every risk in dollars (or other currency) as if they were equal. Following up on last week’s post, there is one major problem that I haven’t talked about before. But they are not. Maybe they avoid the trap of multiplying one possible impact by its likelihood. That is wrong for […]
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FG Financial Group, Inc. Merchant Banking Platform Company FG Acquisition Corp. Announces Business Combination Agreement with ThinkMarkets
Business Wire M&A
MAY 22, 2023
ThinkMarkets provides its customers with access to over 10,000 CFDs, including but not limited to, equities, currencies, precious metals, indic (TSX: FGAA.U) (TSX: FGAA.WT.U) has entered into a business combination agreement with ThinkMarkets, one of the fastest growing online and leveraged trading multi-asset brokerages globally.
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IRS launches Operation Hidden Treasure and the implications for CPAs
ThomsonReuters
MAY 6, 2021
2020 – Move Virtual Currency Question to 1040, page 1 and IRS sends out second round of notices to crypto taxpayers. 2019 – IRS sends out the first round of notices to crypto taxpayers and adds a Virtual Currency Question to 1040, Schedule 1. 2017 – Courts rule in favor of the IRS and Coinbase provides records.
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Tempur Sealy Shares Gain After Acquiring Mattress Firm For $4B, Q1 Earnings Beat
Benzinga
MAY 9, 2023
On a constant currency basis, total net sales decreased by 0.5%, with a decrease of 1.2% Tempur Sealy International Inc (NYSE: TPX ) reported a first-quarter FY23 sales decline of 2.5% year-on-year to $1.208 billion, almost in line with the consensus of $1.210 billion. in the North American business segment and.
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OCC Dings NJ Bank On Lending Exam Over Alleged Redlining
Law 360 M&A
AUGUST 3, 2023
New Jersey-based OceanFirst Bank needs to improve community lending practices, according to a recently released evaluation from the Office of the Comptroller of the Currency, findings released just months after the bank withdrew from a major merger.
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Phillip Morris Ups Swedish Match Offer To SEK 176B
Law 360 M&A
OCTOBER 20, 2022
billion) from 161 billion kronor offered in May, which was equal to about $16 billion before currency fluctuations in the interim. Tobacco giant Philip Morris on Thursday said it has increased its offer price for smaller peer Swedish Match AB to 176.4 billion Swedish kronor ($15.8
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Global Payments Clocks 2% Adj Revenue Growth In Q4; Updates On Acquisitions & Divestments
Benzinga
FEBRUARY 10, 2023
Global Payments Inc (NYSE: GPN ) reported fourth-quarter FY22 adjusted net revenue growth of 2% year-on-year (4% Y/Y in constant currency) to $2.02 billion, beating the consensus of $2.01 The adjusted operating margin expanded 240 basis points to 44.4%. Adjusted EPS of $2.42 beat the consensus of $2.41.
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Why Tilray Stock Is Trading Lower Tuesday
Benzinga
APRIL 11, 2023
On a constant currency basis, quarterly revenue totaled $154.2 Tilray Brands Inc (NASDAQ: TLRY ) shares are trading lower Tuesday after the cannabis company reported fiscal third-quarter results and announced an acquisition of HEXO Corp (NASDAQ: HEXO ). What Happened: Tilray said third-quarter revenue came in at $145.6
Schwarzman and Gray really love Breit
Financial Times M&A
DECEMBER 5, 2022
Plus, Vodafone’s CEO packs up his desk and Digital Currency Group’s FTX-esque fiasco
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