BEIJING/ WAM China’s central bank conducted 14 billion yuan ($1.97 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Wednesday, reported Xinhua. The move aims to keep liquidity in the banking system reasonable and ample, the People’s Bank of China said in a statement. A reverse repo is a process in which the central bank purchases ...

BLOOMBERG JPMorgan Chase & Co hit a fresh record high for the first time in more than two years. Shares of the largest US bank gained 1.2% to $172.08, surpassing the prior high watermark set in October 2021. The New York-based lender has been a top performer in the sector as it posted record results last year, prompting its Chief ...

BLOOMBERG Nigeria’s central bank has released inaugural guidelines for banks opening cryptocurrency accounts, while retaining its ban on them holding or trading in virtual assets on their own behalf. The rules, published on the central bank’s website, flesh out the regulator’s decision last month to lift its prohibition on banks operating accounts for crypto service providers. “Current trends globally have ...