Bloomberg Flagstar Bancorp, one of the United State’s biggest lenders to mortgage providers, has stopped funding most new home loans without government backing. The move, announced to its customers, deprives the housing market of one of the country’s 10 largest so-called warehouse lenders. Other lenders that make non-traditional mortgages to households will no longer be able to borrow from Troy, ...

Bloomberg Nigeria’s central bank will migrate to a single exchange rate for the naira by collapsing the multiple exchange rate policy that determined the value for the local currency, people with direct knowledge of the matter said. The West African nation will merge the official rate, the rate for importers and exporters and rate for foreign-exchange bureaus, among others, according ...

Bloomberg Central banks in the Asia Pacific pledged to spend billions of dollars and implemented new policy steps to stem a bond market rout. The Bank of Japan (BOJ) and Bank of Korea (BOK) offered to buy bonds worth a total of $13.1 billion, while Japan’s authority said it would supply another $36.7 billion of funds. Australia’s central bank (RBA), ...