FHLB Issues $304 Billion in a Week as Banks Boost Liquidity
◈System is known as a lender of next-to-last resort for banks ◈Figure is almost double the amount banks tapped from Fed The Federal Home Loan Bank System issued $304 billion…
Russia to reduce oil exports by 500,000 bpd in August after Saudi extends voluntary cut
Russia will cut oil exports by 500,000 barrels per day (bpd) in August in an effort to keep the global market balanced, Deputy Prime Minister Alexander Novak said Monday. “Within…
In March 2011, Gaddafi warned that without unified and stable Libya there would be no one to control countless migrants from Africa and the Middle East from fleeing to Europe.
“There are millions of blacks who could come to the Mediterranean to cross to France and Italy, and Libya plays a role in security in the Mediterranean,” he told France…
Saudi Arabia to cut oil output by 1 million barrels a day this month
Saudi Arabia has begun cutting its oil supply to the global economy by one million barrels per day (bpd), effective July 1, as the OPEC+ alliance of major oil-producing nations…
JPMorgan Chase and 40 Other US Banks Conducting “FedNow” Trial Runs Ahead of the Instant Payment Service’s Launch
Banking giant JPMorgan Chase and 40 other US banks are testing the Federal Reserve’s new instant payment infrastructure called FedNow.According to a new Federal Reserve press release, 41 banks and…