The Generative AI Revolution in Banking: Transforming Research, …
Oct 8, 2024 · GenAI’s potential for metamorphosing operations has captured the attention of banks worldwide. While still new, the technology is already upgrading processes in three key areas: research, risk assessment and compliance. As banks increasingly embrace GenAI’s advantages, they must plan carefully and ensure necessary governance is in place.
TD Bank's $3 Billion Fine Reveals the Shortcomings of the Banking ...
Nov 20, 2024 · TD Bank, Canadian-owned but the 10th largest US bank, consented to a $3-billion settlement with US regulators over its decade-long failures to monitor customer transactions, becoming the first US bank in history to plead guilty to conspiracy to commit money laundering. The case highlights the onus on banks to ensure AML compliance.
Sanctions Notwithstanding, Russia’s Economy Continues to …
Oct 31, 2024 · 841. By Nicholas Larsen, International Banker. O n October 22, the International Monetary Fund (IMF) released the latest edition of its “World Economic Outlook”. Published twice a year, the report’s October issue confirmed that the organisation expects the Russian economy to grow by 3.6 percent this year, up from the 3.2-percent expansion stated in the preceding …
The WorldCom Scandal (2002) - International Banker
Sep 29, 2021 · 28.6K . C oming hot on the heels of accounting scandals involving Enron and Tyco, both of which sent financial markets into tailspins, the fraud committed by WorldCom, one of the world’s biggest telecommunications companies, ended up dwarfing even those infamous crimes in terms of sheer numbers.. By June 2002, the United States’ second-largest long …
Why Soybean Prices Have Continued to Fall Throughout 2024
Jul 18, 2024 · 1.1K. By Hilary Schmidt, International Banker. I n mid-July, the price of soybean futures contracts dipped below $11 per bushel for the first time since November 2020, as the U.S. Department of Agriculture (USDA) and other major analysts reported more favourable than expected supply conditions for the global market, as well as weak export demand. With the …
The Enron Scandal (2001) - International Banker
Sep 29, 2021 · A ugust 2021 marked the 20 th anniversary of arguably the most notorious corporate-accounting scandal of all time. It may not have been the biggest in dollar terms, or even the most severe in terms of criminality and personnel held culpable, but the Enron Corp. scandal of 2001 remains perhaps the most impactful of all time.
Geopolitical Risk and Default Risk of Global Systemically Important …
Sep 30, 2024 · Banks that are deemed “global systemically important banks” enjoy advantages over those that are not, especially during geopolitical tensions. This may heighten the financial system’s instability risks. A recent study used CDS spreads to investigate the correlation between geopolitical risks and the default risks of G-SIBs and non-G-SIBs.
Key Takeaways From the 16th Annual BRICS Summit in Kazan, Russia
Nov 13, 2024 · 334. By Nicholas Larsen, International Banker “ Strengthening Multilateralism for Just Global Development and Security” was the central theme promoted at the 16 th BRICS Summit held in Kazan, Russia, from October 22 to 24, with the Kazan Declaration—the document adopted at the summit by all BRICS+ members (Brazil, Russia, India, China, South Africa plus …
The Dollar Still Dominates, but De-dollarization Is Unstoppable
Jan 2, 2024 · The United States enjoys a special advantage because of the preeminent status of its dollar as the world’s leading reserve currency and medium of exchange. Other countries are increasingly moving toward knocking the dollar off its throne through de-dollarization. The trend is unstoppable, but it’s unlikely the dollar will lose much of its authority any time soon.
Ethiopian Banking Sector’s Development Given Major Boost by …
Jul 12, 2024 · Ethiopia’s impressive economic growth beckons foreign investment, but only recently has the country begun to liberalise its banking sector by taking steps to permit foreign entrants, an important move to bolster the nation’s overall economic health. Although Ethiopia’s banking sector is sound, key risks remain that should be considered.