December, 2022

• 9 December

  Canada bank regulator raises capital buffer as risks mount

  

  Bloomberg Canada’s banking regulator increased a key capital requirement for large banks — and raised the potential range of the measure — giving it more power to protect the country’s financial system from elevated risks. The Office of the Superintendent of Financial Institutions (OSFI) said that it’s lifting the domestic stability buffer to 3% by February 1, up from its …

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• 9 December

  Euro-zone banks return $472bn in ECB funding

  

  Bloomberg Euro-area banks are returning another €447.5 billion ($472 billion) in cheap loans to the European Central Bank after officials toughened the terms of the program to help fight double-digit inflation. The repayment will shrink the outstanding amount of so-called TLTRO loans, which were used during the pandemic to keep credit flowing to households and businesses, by about 25%. The …

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• 9 December

  China’s Xiamen International Bank considers $1.3bn Hong Kong IPO

  

    Bloomberg Xiamen International Bank Co, set up almost four decades ago with both local and foreign investors, is considering a Hong Kong initial public offering that could raise about HK$10 billion ($1.3 billion), according to people familiar with the matter. The Chinese lender is working with advisers for preparation of the share sale, which could take place as soon …

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• 9 December

  UK to consult on central bank digital currency

  

  Bloomberg The UK government will bring forward a consultation on the case for a central bank digital currency “in the coming weeks,” Chancellor of the Exchequer Jeremy Hunt said. The Bank of England will also release a paper setting out technology considerations informing the potential build of a digital pound, Hunt said in a written statement to Parliament. Hunt announced …

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• 9 December

  Bond-buying added to Bank Indonesia in law overhaul

    Bloomberg Indonesia is one step closer to requiring the central bank to come to the government’s aid through crisis bond-buying, while dropping earlier proposals to expand the monetary authority’s role. A parliament commission has approved a draft of the financial sector omnibus law that retained a provision calling on Bank Indonesia (BI) to undertake debt monetisation in times of …

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• 9 December

  Pound went on a wild ride close to dollar parity in 2022

  

    Bloomberg Three prime ministers, four finance ministers and one ill-fated budget dragged the pound within an inch of parity versus the US dollar in 2022. It was a wild ride for the currency, which suffered as political chaos engulfed the UK throughout the year. But everything went into overdrive in September, when the government’s gamble on a huge tax …

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• 9 December

  World’s top money managers see double-digit stock gains in 2023

  

    Bloomberg Some of the world’s biggest investors predict that stocks will see low double-digit gains next year, which would bring relief after global equities suffered their worst loss since 2008. Amid recent optimism that inflation has peaked — and that the Federal Reserve could soon start to change its tone— 71% of respondents in a Bloomberg News survey expect …

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• 9 December

  BofA says don’t bet on a rise in equities after last Fed hike

  

    Bloomberg While investors are impatient for the Federal Reserve to deliver its last rate hike to pile back into equities, history shows they should be wary of doing so while inflation remains persistently high, according to Bank of America Corp. (BofA) strategists. An analysis by Michael Hartnett and his team showed that stocks outperformed after the Fed stopped increasing …

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• 9 December

  Southwest reinstates dividend after coronavirus suspension

  

    Bloomberg Southwest Airlines Co said it would reinstate its dividend following a pause of more than two years, becoming the first major US carrier to resume the shareholder payouts after they were suspended during the pandemic as a condition of receiving government aid. Southwest’s board approved a quarterly dividend of 18 cents a share to be paid on January …

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• 9 December

  China’s jet lessor Calc weighs $3b asset sale

  

    Bloomberg China Aircraft Leasing Group Holdings Ltd (Calc) is considering selling some of its assets outside greater China that could raise about $3 billion in a transaction, according to people familiar with the matter. The Hong Kong-listed company is looking to divest around 40 aircraft and approximately 180 aircraft production slots, said the people, who asked not to be …

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