Ten years ago this month, the world witnessed the first tremors of what we now think of as the Global Financial Crisis and the subsequent Great Recession. For the United States and many other countries, this would turn out to be the most painful economic period since the Great Depression.
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Nordea expects the global economy to grow by 3.6 per cent this year, 3.7 per cent in 2018 and 3.6 per cent in 2019, in a new forecast released today. The outlook for the advanced economies looks solid amid uncertainties surrounding Donald Trump’s economic policy, the Brexit negotiations, increasing geopolitical risks and financial market reactions to the expected tightening of monetary policy. Also Emerging Markets seem to be back on a more sustainable growth trajectory, says Helge J. Pedersen, Nordea’s Group Chief Economist. The outlook for the Nordic countries has improved further, and 2017 seems to be the strongest growth year for the region since 2010. Continue reading…

The former head of cybercrime at the National Crime Agency, Dr Jamie Saunders, talks to Jessica Titherington about why businesses must take up the fight against cyber criminals. Continue reading…

The Basel Committee on Banking Supervision (BCBS) and the IFRS Foundation have announced a new cooperation agreement to foster long-term financial stability, enhance market discipline and further develop sharing of information.
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The Federal Reserve Board on Friday, 1 September, adopted a final rule to enhance financial stability by requiring U.S. global systemically important banking institutions (GSIBs) and the U.S. operations of foreign GSIBs to amend qualified financial contracts to prevent their immediate cancellation or termination if the firm enters bankruptcy or a resolution process.
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In August 2017 the  European Central Bank (ECB) published the paper ‘Home, safe home: cross-country monitoring framework for vulnerabilities in the residential real estate sector’. This paper proposes a framework for monitoring vulnerabilities related to the residential real estate sector in a cross-country context. The framework might be useful for complementing or cross-checking signals available from existing approaches.
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Captive models must demonstrate a strong economic rationale, explains Julia Graham, Airmic’s deputy CEO and technical director. Although the most serious shock waves from the 2008 financial crisis are behind us, businesses continue to operate in challenging times.
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This paper seeks to measure the importance of the Global Financial Cycle for explaining international capital flows. Hélène Rey and others have argued that capital flows move in unison across countries. They put forward that this is because of financial conditions in key advanced countries – or “centre countries” – such as the United States.
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Under the guidance of the Committee on Payments and Market Infrastructures (CPMI) and in cooperation with central banks in CPMI jurisdictions, the BIS compiles statistics on payments and financial market infrastructures, the so-called Red Book statistics.
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ECB publishes amendments to the ECB regulation on reporting of supervisory financial information
● ECB publishes amendments after reviewing comments received in a public consultation
● Amendments adjust the regulation in line with changes in accounting standards
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