The ECB announced that Cyprus government bonds are ineligible as collateral due to lowered credit rating.
Industry
Islamic finance lobbies outside Gulf
General Council for Islamic Banks and Financial Institutions intends to expand to adjacent countries.
Kim: World Bank aims 3% reduction in poverty
World Bank President Jim Yong Kim addressed the aims of the global lender to reduce poverty. (Photo : Reuters)President Jim Yong Kim of World Bank, gives a lecture on global creditor's goals.
Mayors: Cap on municipal bond would hinder growth
The U.S. Conference of Mayors said President Barack Obama's financial plan would hurt the economy.
Coeure: ECB has Euros 50 billion in SMEs
Benoit Coeure, ECB Executive Board member, said the bank has Euro 50 billion on loans to small and mid-sized businesses.
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Japan's Government Pension Investment Fund will use its US$1.1 trillion budget to buy properties in major cities
Closed end funds are increasing in number and value, with 24 funds launched having US$10.5 billion in portfolio value.
Many investors are divesting their bond holdings because of current economic conditions. (Photo : Reuters)The image are two bond traders on the floor of a stock exchange.
Chinese fund managers suggested a lower exposure to stocks due to a probable cash squeeze. (Photo : Reuters)The image is a bank teller counting yuan. Fund managers from China lowered their preferred exposure to bonds and stocks this June as concerns regarding the effects of a cash squeeze in the money market were raised.
Pekao, after failing to purchase Nordea Bank Polska, is now seeking out new acquisitions. (Photo : Reuters)The image is the corporate logo of Bank Pekao SA.
The chairman of the Chinese Banking Regulatory Commission allays fears of liquidity issues saying that the system has sufficient funds to cover all settlements.
Outflows continue in record breaking fashion, as a total of $23 billion, the biggest since 1992, was reported.
Viktor Vekselberg continues expanding by initiating a bid to buy Schmolz+Bickenbach. (Photo : Reuters)Russian tycoon Viktor Vekselberg gives a speech in an assembly.
Europe, Middle East, and Africa all experienced a generally flat syndicated lending volume. (Photo : Reuters)The European Central Bank is expected to print money to prevent a further escalation of the euro zone's debt crisis.
