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Air India stated that the additional testing was intended to "clearly confirm" the performance and integrity of the fuel switching panel involved in the Air India Boeing 787 crash.Documents show that Indian officials will travel to Seattle in June to observe Boeing (BA.N) testing the fuel control switch panel involved in the February crash of an Air India 787 in London.The main contract for 2-year Treasury bond futures (TS) rose 0.02%, the main contract for 5-year Treasury bond futures (TF) rose 0.06%, the main contract for 10-year Treasury bond futures (T) rose 0.15%, and the main contract for 30-year Treasury bond futures (TL) rose 0.56%.On May 19th, Harumi Taguchi, an economist at S&P Global Market Intelligence, stated that the Bank of Japan (BOJ) may raise its policy rate from the current 0.75% to 1.0% in July, with further rate hikes in December and 2027, bringing the policy rate to 1.5%. Taguchi noted that if rising oil prices and a weaker yen exacerbate concerns about the second-round effects of inflation, the BOJ may raise rates further. Taguchi added that given the continued high oil prices driving up demand for the dollar, rising market expectations for a Federal Reserve rate hike, and concerns about Japans fiscal expansion, the yen is unlikely to appreciate in the short term.On May 19th, according to Iranian sources, Iranian President Pezechzian, during a meeting with officials from the Ministry of Cooperation, Labor and Social Welfare, stated that economic and social problems should be addressed at their root through structural and sustainable planning. Pezechzian stated that those who lost their jobs during the war should not rely solely on unemployment insurance, but rather on creating sustainable employment opportunities. He also emphasized the need for targeted support programs to maintain existing jobs. Pezechzian further stated that controlling consumption and avoiding waste are "necessary measures at the national level" under the current circumstances, and that government agencies should play a leading role in related areas. Regarding electronic consumption vouchers, Pezechzian stated that priority should be given to low-income and vulnerable groups, and related support policies should aim to increase household purchasing power and alleviate the living pressures on low-income groups.

Banks should manage heightened risks from crypto firm deposits –Fed’s Barr

Skylar Shaw

Oct 13, 2022 16:00

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According to Michael Barr, the vice chair of supervision at the Federal Reserve, banks that accept deposits from cryptocurrency companies should be wary of increasing liquidity concerns, especially if enterprises are closely linked to other businesses that deal in digital assets.


According to Michael Barr, the vice chair of supervision at the Federal Reserve, banks that accept deposits from cryptocurrency companies should be wary of increasing liquidity concerns, especially if enterprises are closely linked to other businesses that deal in digital assets.


Barr stated that the Federal Reserve is collaborating with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency to highlight the risks to banks of concentrating their deposits in the cryptocurrency industry and to warn that banks may experience deposit fluctuations linked to price fluctuations in the larger crypto market.


The degree of centralization and interconnection among crypto-asset businesses, which increases stress, has been made clear by the recent volatility in the cryptocurrency markets, he added.


Despite the fact that banks were not directly impacted by these events' losses, these incidents have brought attention to possible concerns for financial institutions.


Speaking at DC Fintech Week, Barr stated that the goal of the banking regulators' interactions with financial institutions regarding the dangers of accepting deposits from cryptocurrency firms is "not to discourage banks from providing access" to banking services for cryptocurrency companies, but rather to ensure that any risks are properly mitigated.


Since assuming the top regulatory position at the Fed in July, Barr hasn't spoken in detail on cryptocurrencies and fintech until now. In the address, Barr said that regulators must strike a balance between encouraging innovation and providing barriers to protect customers and prevent systemic dangers.


Barr also cautioned that misleading statements made by cryptocurrency businesses concerning deposit protection may mislead clients and encourage withdrawals from banks with a cryptocurrency slant who provide such services at times of high stress.


These remarks come after the FDIC ordered several other crypto businesses, including the cryptocurrency exchange FTX, to stop making what it deemed to be "false and deceptive" assertions about whether the company's assets are government-insured in August.

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