Goldilocks’ Comments and Global Economic News Thursday Evening 12-14-23
Good Evening
Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) made a decision today to set up what will be known as the National Company for Electronic Payment Systems.
It will be in charge of creating, running, and overseeing the country’s electronic payment and litigation systems (Banking Laws). It will also be in charge of expanding the Payment Systems functionality.
“The primary responsibility of the CBI will be managing and supervising these systems.”
© Goldilocks
https://www.iraqinews.com/iraq/iraqs-central-bank-to-set-up-e-payment-national-company/
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The World’s Copper Supply Is Suddenly Looking Scarce Finance Yahoo Link
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Banking Announcement:
“UPI To Go Global, You Will Soon Be Able To Make Payments In Dollars”
The Unified Payments Interface of India just so happens to have a contract with Iraq with the expectation of them doing trade in local currencies together.
Just hours ago, we learned that Iraq is now using the “National Company for Electronic Payment Systems” to aid them in foreign currency exchanges between countries.
This new update will open the door for seamless transactions across Global Borders with countries who have a common currency.
© Goldilocks
CNBC TV18
India Link
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X-Press Feeders to launch green shipping
The shipping company, which operates a fleet of more than 100 vessels, has 14 dual-fuel vessels on order and due for delivery from next year’s first quarter through to mid-2026. X-Press Feeders’ 14 dual-fuel ships each have 1,200-TEU capacity with a length of 148 m.
The first dual-fuel vessel, Eco Maestro, will have its maiden voyage in Q1 next year, and it will sail from Shanghai – where the ship is built – to the Port of Rotterdam via the Suez Canal.
Eco Maestro, the first biomethanol-powered ship to be built in China, will use biomethanol for its voyage to Europe. Biomethanol is a renewable energy source produced from the decomposition of organic matter, such as waste and residues.
Because biomethanol is produced from a renewable source, it is often referred to as green methanol.
Riviera MM Link
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CFTC Proposes Long-Awaited Guidance on Voluntary Carbon Credit Derivative Contracts JDSupra Link
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Basel Committee publishes consultation on targeted adjustment to its standard on interest rate risk in the banking book.
Adjustments update calibration of the standard’s interest rate shock parameters and methodology used to calculate the shocks.
The measures are based on a specified set of interest rate shocks for each currency for which the bank has material positions, according to BIS. https://www.bis.org/press/p231212.htm
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SEC Set to Adopt Treasury Clearing Rules at Its Dec. 13 Meeting | Morgan Lewis – All Things FinReg
The rule changes, designed to reduce the potential for systemic risk, will require more Treasury market trades to be centrally cleared. JDSupra Link
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China, Belarus, Pledge Eurasian and Trade Development Cooperation Silk Road Briefing Link
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Breaking – Euro Stablecoin: Deutsche Bank, Others To Issue Euro-based Stablecoin CoinGape Link
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The SEC and the CFTC is reportedly on a “turf war” over who gets to regulate the crypto industry
Behnam had previously said Ethereum and stablecoins are commodities
SEC’s Gensler said all crypto assets except Bitcoin are securities IB Times Link
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JUST IN: JPMorgan says Ethereum will outperform Bitcoin in 2024. @WatcherGuru
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JUST IN: 🇺🇸 SEC Chair Gary Gensler says they are taking a new look at Spot Bitcoin ETF’s based upon court rulings. @WatcherGuru
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What is the summary of HR 2670?
Requires the Secretary of Defense to develop an integrated maritime domain awareness and interdiction capability in cooperation with allies and partners in the Middle East. Inserts the text of Nuclear Weapons Abolition and Conversion Act of 2023 (H.R. 2775).
https://www.congress.gov/bill/118th-congress/house-bill/2670
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