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Central banks’ arsenals in spotlight

Madrid / Reuters At the end of a tough quarter, the fraught debate over how policymakers should tackle the world’s economic woes gets another airing in the coming week as central banks on both sides of the Atlantic publish minutes. Solid growth in US employment and an unexpected manufacturing uptick in China in March will have provided some comfort, but ...

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Zimbabwe says banks have credible plans to sell stakes

Harare / Reuters Foreign banks operating in Zimbabwe have submitted credible plans on how they intend to transfer majority shares to locals, the country’s finance minister said on Saturday, reducing the chances the government could cancel their licences. Under an Indigenisation and Economic Empowerment Act all foreign companies operating in Zimbabwe were given a March 31 deadline to sell at ...

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Fed approves rule allowing banks to use munis as crisis buffer

Bloomberg The Federal Reserve has given final approval to a rule that will let banks include investment-grade municipal bonds among the assets they use to meet regulatory requirements to ensure they have sufficient liquidity to weather a crisis. The Fed and other US financial regulators adopted the liquidity coverage ratio requirement in October 2014 as a response to bank deficiencies ...

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