News from June 2023

J.P. Morgan head on launch of investment data solutions for investors: 'We are pleased to work with our providers to deliver a unique and transformative solution'

J.P. Morgan Securities Services has launched its Sustainable Investment Data Solutions for institutional investors, available through Fusion by J.P. Morgan.

Moody's Investor Service: Lack of digital asset regulations could make U.S. 'comparatively less attractive for both firms and investors'

Moody's Investors Service said if the U.S. does not implement comprehensive digital asset regulations, companies and investors might look to other jurisdictions that have those guidelines in place. Moody's report came shortly after lawmakers held a hearing to discuss the draft of a bill that would fill in regulatory gaps for the digital asset industry.

RBI Governor: 'longer-term risks remain in the form of geopolitical worries'

RBI likely to pause rate hikes through FY24 given the inflation trajectory, says Yes Bank Chief Economist

Dallas Fed: Texas employment forecast improves as 41,200 jobs added in May

The Federal Reserve Bank of Dallas released its Texas Employment Forecast on June 16, indicating that jobs will increase 2.8% in 2023, with an 80% confidence band of 2.2 to 3.3%, which was up from the previous month’s forecast of 2.6% growth.

TRUST AMC CEO on Reserve Bank of India’s policy: 'The possibility of the next move being a cut is far higher than that of a hike'

In its most recent policy review, the Monetary Policy Committee for the Reserve Bank of India (RBI) chose to keep a key short-term policy rate, the repo rate, steady at 6.50%.

Bank of England head: Borrowing costs soar in U.K., despite encouraging prospects

Borrowing costs in the U.K. have risen above the levels hit during Liz Truss’s stint as prime minister, despite stronger-than-expected job and salary reports, which had reinforced expectations that the Bank of England could raise interest rates.

Powell outlines fed's inflation strategy amidst persistent economic challenges

Federal Reserve Chair Jerome Powell, in a press conference held on June 14, 2023, laid out a roadmap for the Federal Reserve's strategic response to the ongoing inflation situation.

Former CFTC Commissioner on crypto industry: 'The government must provide rules to follow, not just lawsuits'

Brian Quintenz, the head of policy at Andreessen Horowitz and a former CFTC commissioner, said that if the U.S. Securities and Exchange Commission (SEC) continues targeting crypto companies, the U.S. could lose out on the benefits that blockchain technology could bring to multiple industries.

Das: 'RBI will remain nimble in its liquidity management'

RBI Gov. Shaktikanta Das said that India’s Monetary Policy Committee opted to maintain the benchmark repo rate for a second consecutive meeting, BQ Prime reported on June 8.

Cryptocurrency insider: 'The SEC’s actions undermine America’s role as a global hub for financial innovation and leadership.'

Crypto insider Edward "Coach" Weinhaus said that the Securities and Exchange Commission's allegations regarding Binance's operations could be advantageous to Wall Street.

New York Fed CEO on Hirtle being named research advisor: 'We are delighted to welcome Bev to her new advisory role'

Beverly Hirtle, the director of research and head of the Research and Statistics Group, will start working as a research advisor on June 30, according to a statement released by the Federal Reserve Bank of New York.

Cryptocurrency insider on Binance lawsuit: SEC set to "prosecute specious claims"

Binance, the world's leading cryptocurrency exchange, is pushing back against allegations of illegal operations in the U.S. by the Securities and Exchange Commission (SEC).

Kotak Investment Advisors CEO: 'It looks like the market wait for rate cuts just got longer'

As rate increases earlier this week stunned investors in Canada and Australia, and Reserve Bank of India (RBI) Gov. Shaktikanta Das delivered a predictable policy by pushing the pause button for a second time, investors on Dalal Street were somewhat let down when the RBI’s rate-setting panel MPC decided to maintain its stance of “withdrawal of accommodation.”

Monetary Policy economist as RBI maintains position: 'The Indian economy is ideally balanced between growth and inflation under the RBI’s navigation'

After the Reserve Bank of India decided to maintain its position focused on “withdrawal of accommodation” and keep policy rates constant, stocks in the banking sector remained mainly stable on Thursday.

Wilkerson: 'Growth in regional services activity slowed slightly in May'

The Federal Reserve Bank of Kansas City released its May Services Survey, which showed that growth in the Tenth District slowed a bit in May with the expectations forecast also slipping, according to a news release.

Todar: SEC suing Binance 'undermines the freedom and innovation of cryptocurrencies'

Ben Todar, notable crypto commenter, successful entrepreneur and CEO of a blockchain-based gaming ecosystem, said the lawsuit against Binance, the largest crypto exchange in the world, sparks concerns that the US Securities and Exchange Commission (SEC) is trying to protect traditional financial institutions by crushing the U.S. crypto industry.

Wilkerson: 'Regional factory activity was largely unchanged in May'

The May Manufacturing Survey has been released by the Federal Reserve Bank of Kansas City.

Nistor: 'I am thrilled at the opportunity to join the New York Fed'

The Federal Reserve Bank of New York appointed Mihaela Nistor the chief risk officer and head of the risk group, serving in the role as a member of the bank’s executive committee.

RBI: 'Guidelines on the introduction of expected loss-based approach for provisioning are likely to be announced during 2023-24'

The Reserve Bank of India (RBI) announced that it is pushing an initiative to enhance the system for handling bad loans, recommending a predicted-loss-based strategy for provisioning to be started over the next year.