Goldilocks’ Global Economic News Sunday 6-16-2024
EU Basel 3 Announcement:
The Fundamental Review of the Trading Book (FRTB) is a comprehensive suite of capital rules. They are developed by the Basel Committee on Banking Supervision (BCBS) as part of Basel III. Their intentions are to apply these rules to banks’ wholesale trading activities.
The EU plans to delay FRTB because moving first would put EU banks at a competitive disadvantage to US banks.
This is a coordinated effort globally. Where one goes, we all go. Europe has given themselves a back wall date of January 1st, 2025 to to fully implement Basel 3 requirements. It looks like they have moved into a place that other countries are going to have to catch up to going forward.
Look for gold to be reclassified during this time and the digital economy to go ahead and move into its mass adoption. ICMA Group
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“Lagarde Urges Governments to Respect Global Trade Rules”
Remember what we said the other day about Trade Wars beginning, and how, Treaty Agreements are signed at the end of them.
Trade Wars are attempts by countries to damage each other’s trade, typically by the imposition of tariffs or quota restrictions.
This will cause distortions in prices that will have to be reset under new Treaty Agreements that are universally signed.
Look for this to come at a time when Basel 3 Capital Requirements can be implemented into a new financial order. Bloomberg
Here we go.
© Goldilocks
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Here is the list of countries that will join BRICS:
* Africa:
* Algeria;
* Morocco;
* Nigeria;
* Chad;
* Equatorial Guinea;
* Eritrea;
* Senegal;
* Zimbabwe;
* South Sudan.
* Asia:
* Azerbaijan;
* Bangladesh;
* Bahrain;
* Indonesia;
* Kazakhstan;
* Kuwait;
* Palestine;
* Pakistan;
* Syria;
* Thailand;
* Vietnam;
* Sri Lanka;
* Türkiye.
* Latin America:
* Bolivia;
* Venezuela;
* Honduras.
BRICS Summit October 2024
Gazeta
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Hello, World!
Figure Technology Solutions has launched Figure Connect, its blockchain-based marketplace for private credit. Outside of the qualified mortgage sector, most loan purchase agreements (LPAs) are bespoke, making them illiquid. Figure’s is promoting the use of standardized sales terms and documentation to make the market more liquid. Ledger Insights Figure Technology Solutions
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Bitcoin Suisse, one of the largest digital asset players in the country, has issued a digital bond via the Obligate platform. When asked for more details about the bond, Bitcoin Suisse told Ledger Insights that it is a technical prototype with a 12 month maturity, available only to qualified investors.
Ledger Insights Bitcoin Suisse
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Marui, the large Japanese department store, issued a digital green bond in May. Not only did it use blockchain, but it was also directly issued to its customers as investors, with Securitize Japan providing the blockchain platform. Besides the digital bond, the green investment also has a blockchain angle.
It was a small digital bond issuance of just Yen 170 million ($1.1 million) with the investment available to Marui’s EPOS credit card holders. The 1% interest on the bond is partially paid in EPOS points and partly in real money.
The bond proceeds are intended to purchase a renewable energy power plant, although the small print also allows for energy-efficient building upgrades. Marui is partnering with Updater (formerly Minna Denryoku or Minden) for the renewable energy plant.
Updater has a blockchain-based platform, Enection 2.0, which tracks the source of renewable energy, allowing business buyers to pair electricity sales with energy attribute certificates (EACs) for green energy. Ledger Insights Marui Enection 2.0 Digital Bond
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BIS launches Toronto Innovation Hub – Ledger Insights – blockchain for enterprise
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Testimony of Chairman Rostin Behnam Before the Subcommittee on Financial Services and General Government, Committee on Appropriations, U.S. Senate | CFTC
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PCPD Corporate Video | Youtube
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FADGI is part of a broader effort by NARA to move away from paper-based processes towards digitization.
Federal Agencies Digital Guideline Initiative (FADGI) guidelines are mandatory for federal agencies and affiliated organizations when digitizing archival records.
The guidelines went into effect in June 2024 as part of the National Archives and Records Administration’s (NARA) effort to move away from paper-based processes. By June 2024, all permanent records archived in the National Archives must be digitized and meet FADGI three-star quality standards. Digitization Guidelines Government Technology Insider
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What Iraq Must Do Before RV Can Happen | Youtube
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XRP RIPPLE UPDATE: CAN XRP ESCAPE THIS? | SEC VS RIPPLE | XRP Lawsuit Heats Up with Judge | Youtube
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BIS Survey: 94% of Central Banks Exploring Digital Currency – Featured Bitcoin News
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