Opinion: #banks compounding annual interest with the arithmetic mean every month means they are fundamentally lying about the annual interest.
Compounding interest is a multiplicative process, and so using an additive average is a sleight-of-hand at best.
They should either use the geometric mean of the annual rate per month or simply give interest in monthly figures and the true annual rate.
Don't know if this counts as an #UnpopularOpinion for #finance peeps, but it shits me to no end.
Nomura Holdings is leaving the banking industry’s largest climate alliance, joining Japanese peer Sumitomo Mitsui Financial Group as an exodus started by Wall Street heavyweights goes global. https://www.japantimes.co.jp/business/2025/03/13/companies/nomura-exit-climate-group/?utm_medium=Social&utm_source=mastodon #business #companies #nomura #banks #climatechange #donaldtrump #us
Noahkai #Banks confirms our exclusive news that AS Roma wanted to sign him in the last transfer window.
„When I first heard about Roma’s interest, it was a huge honour for me,” Banks told Sport Bild. There was a video call with Claudio Ranieri: „The fact that coach Claudio Ranieri personally reached out to me was great. But in the end, I am a player of FC Augsburg and know that the club has big plans for me.”
Roma remain keen on the 18-y/o centre-back talent from FC Augsburg and are closely monitoring his situation. Contract until 2027, with a valuation of over €10m.
Japan’s biggest brokers are having second thoughts about selling Japanese government bonds repackaged into loans to regional lenders after the nation’s financial regulator declared a clampdown on the market. https://www.japantimes.co.jp/business/2025/03/11/economy/japan-brokers-rethink-repackaged-jgbs/?utm_medium=Social&utm_source=mastodon #business #economy #bonds #jgb #investments #regionalbanks #banks #brokerages #fsa
https://www.europesays.com/1900311/ Banks In Crypto: The OCC’s Quiet Game-Changer ##banking #banks #bitcoin #comptroller #crypto #cryptocurrency #FDIC #occ
"A better way for policymakers to limit new fossil fuel projects is to look beyond the banking sector. For instance, lawmakers could require #insurance companies to factor in climate-related financial risks when designing their policies—which could make it harder for fossil fuel projects to get coverage.
Another strategy is to require that #banks publish a clear decarbonization plan, which can, in theory, be a sort of back door to blocking new fossil fuel investments."
Excl | AS Roma were already seriously interested in Noahkai #Banks during the last transfer window and wanted to bring him to Italy. Roma remain keen on the 18-y/o centre-back talent from FC Augsburg and are closely monitoring his situation.
He is under contract until 2027, with a valuation of over €10m.
https://www.europesays.com/1896519/ Trump has a new European leader coming to his doorstep – POLITICO ##banking #banks #borders #brexit #Canadá #career #CentralBanking #CentralBanks #ClimateChange #DonaldTrump #elections #EmmanuelMacron #England #europe #FinancialStability #france #GeorgeOsborne #industry #JeanClaudeTrichet #JustinTrudeau #labels #MarioDraghi #MarkCarney #parliament #populism #rights #stability #tariffs #UnitedKingdom #UnitedStates #US
Bank of America CEO Brian Moynihan says he’s willing to add employees in Japan as the local economy picks up after decades of deflation. https://www.japantimes.co.jp/business/2025/03/07/companies/bank-of-america-hiring-in-japan/?utm_medium=Social&utm_source=mastodon #business #companies #bankofamerica #banks #us #jobs #inflation #investments
"Big banks abandoned a voluntary climate alliance. Now, critics are calling for new laws."
https://www.europesays.com/1894088/ Germany’s Merz has 2 weeks to deliver historic spending revolution – POLITICO #austerity #banks #Budget #China #courts #crisis #debt #défense #DonaldTrump #elections #Finance #ForeignPolicy #FriedrichMerz #germany #history #infrastructure #MarcelFratzscher #markets #military #negotiations #OlafScholz #parliament #policy #research #rights #security #sustainability #trade #UnitedStates #US #youth
Canadian #Banks don't know how to spell cerwis. Europe with the #SEPA is so far ahead!
Thanks to #regulation.
For decades, Canadian political leaders have crowed about that restrictive #financial #regulatory model. They argue that fending off foreign entrants in the country’s #mortgage market helped the country largely avoid the 2008 collapse south of its border.
In light of #Trump’s criticism, Maggie Cheung, a spox for the Canadian Bankers Assn, was quick to point out that foreign #banks were an integral part of the banking landscape.
Many international banks limit themselves to areas that don’t involve lending, such as offering investment advice to wealthy Canadians or local companies.
So #Trump is incorrect in asserting that American #banks cannot do any business in #Canada, but it is true that they are limited in their activities.
While there are >4k banks in the #UnitedStates, Canada has just a few dozen, & >¾ of deposits are held by the Big Six.
Given how dominant #Canada’s homegrown #banks are, any international bank that tries to compete faces “an additional regulatory burden for what would begin as a small prize,” said James R. Thompson, assoc prof of #finance at the U of Waterloo.
The upshot is that #US banks have minimal operations in Canada. The largest American lender, JPMorgan Chase, says it has roughly 600 employees in Canada, out of >300k worldwide.
Additionally, #US #banks are restricted in what they can do in #Canada.
Foreign banks, including American ones, must either work with a Canadian middleman, establish a Canadian subsidiary or receive special government permission to do business. Unless they agree to follow Canada’s stringent banking rules that include holding a hefty sum of cash-like assets in reserve at all times, they cannot operate retail branches that take deposits under around $100k.
