Yangon / AFP Four more foreign banks have been given preliminary approval to operate in Myanmar, state media reported on Sunday, the latest government attempt to attract overseas investment to the emergent nation. Myanmar’s banking system was closed for decades to outside competition under junta rule, leaving the country laden with a creaking financial infrastructure and a populace deeply suspicious …

Bloomberg Negative interest-rate policies currently in use by central banks around the world have worked through their respective systems in much the same way as positive rates, though it’s not known how far below zero that would continue to be the case, the Bank for International Settlements (BIS) said. In its quarterly report published on Sunday, the Basel-based “central bank …

BLOOMBERG Banks that finance their operations abroad with wholesale, cross-border or cross-currency funding are amplifying credit crunches, while those relying on local deposits remain a more stable provider of loans, economists at the Bank for International Settlements (BIS) said. Those banks whose foreign subsidiaries lent money raised from local savers and companies shrank their balance sheets less than those relying …