The Bank of Canada said Monday it will gradually revert its expanded credit policy back to its original levels in the next six weeks, in response to the country’s improved short-term funding conditions during the COVID-19 pandemic.
U.S. commercial and multifamily mortgage originations dropped off about 48% year over year in the second quarter, largely in line with a bleak 2020 forecast, but may rebound next year, the Mortgage Bankers Association said Friday.
American International Group will be covering most of the reinsurance costs associated with the Air India Express plane that crashed at an Indian airport and killed 18 people, according to local media reports.
Fitch Ratings put two French subsidiaries of Aviva on negative ratings watch, citing the U.K. parent company’s strategic direction, which appears to involve pulling back from doing business in some markets abroad.
The head of Iran’s insurance regulator said Monday that the country will not pay compensation to Ukranian National Airlines related to Iran’s shooting down of a jetliner because the plane was insured by European firms.
Despite escalating tensions between China and the U.S., China’s central bank head pledged Sunday to “resolutely deepen” integration between the world’s two largest economies by continuing to eliminate ownership restrictions for foreign financial firms.
Canadian fintech Interac’s electronic funds transfer platform was “critical” to the country’s economic activity and will be brought under increased government oversight, the country’s central bank said Monday.
Portugal’s largest banks reserved heavily for loan losses in the first half of 2020, causing a sharp drop in earnings, even as the country’s government attempts to avert a credit crisis, DBRS Morningstar said Monday.
Duck Creek Technologies, a software provider for property and casualty insurers, intends to raise $300 million in an initial public offering, becoming the latest company looking to capitalize on investor appetite for insurtech.
Collateralized loan obligations, once abundant before the 2008 financial crisis, are having a resurgence as the economic slowdown compels borrowers to seek out new sources of liquidity, DBRS Morningstar said Monday.
The world’s largest retail digital payments network is poised to make an unprecedented green bond offering, a Monday filing with the U.S. Securities and Exchange Commission shows.
Financial services company Interactive Brokers must pay a total of $38 million to several U.S. regulatory organizations to settle claims that the company failed to properly detect and report suspicious transactions as required by federal anti-money laundering laws.
Prices in the global commercial insurance market showed a record surge over the past three months, following 10 consecutive quarters of increases, as rates continued to rise in property and financial and professional lines.
China retaliated Monday by levying its own sanctions against U.S. officials in response to U.S. sanctions introduced last week that left banks in Hong Kong to grapple with how to operate without running afoul of the local government.
Anti-money laundering fines assessed globally are on pace to more than double this year from 2019, with the U.S. imposing a lower share of the total than in years past, according to Duff & Phelps.
The U.S. Federal Reserve rolled out new capital requirements for 34 of the country’s largest banks on Monday, imposing the highest requirements on Goldman Sachs and Morgan Stanley based on stress tests conducted earlier this year.
Facebook has formed a new group to steward all things payment-related at the technology company, putting David Marcus, co-creator of the Libra cryptocurrency project, in charge.
The insured loss from Hurricane Isaias will be approximately $4 billion in the U.S. and $200 million in the Caribbean, catastrophe risk modeler Karen Clark and Company said Monday.
Chubb on Monday made appointments to two newly created executive positions, with John Lupica taking on the role of president of North America insurance operations and Paul Krump named as vice chairman of global underwriting and claims.
A group of high-ranking U.S. federal lawmakers are opposing retirement investment rule changes, claiming that the shift would “help financial advisers evade their responsibility to clients.”