Meta says US states are seeking $1.4 trillion in penalties in August youth safety trial

Both the US and Europe are moving to create digital money, but neither has the right idea about how to do it. The key is to allow “narrow banks,” which issue money but not credit, to keep their reserves in central banks and provide capped interest payments to coin holders. LONDON—The debate over stablecoins and…

Time: 9am to 10am | Location: Bank of England, Threadneedle Street, London, EC2R 8AH and MS teams Minutes Item 1 – Update on Imagery Selection and Aims The Chair opened the meeting, reminding members about the importance of considering the Bank’s obligations under the Public Sector Equality Duty at every stage of decision-making during the…

Constraints on Russia’s refining system have added to the existing crisis, strategists at J.P. Morgan said.

MUFG’s Lloyd Chan highlights the Indonesian rupiah’s continued vulnerability as USD/IDR moved back above 18,000 amid renewed Middle East tensions and elevated US yields. Although attractive government bond and SRBI yields have supported foreign inflows into the bond market, persistent net foreign equity outflows leave the balance of risks tilted toward further rupiah weakness. External…

News release Under plans in a consultation published today, funded reinsurance – which involves UK life insurers paying a large up-front premium to a reinsurer in return for future payments – would be treated more like other investments that UK life insurers hold, ending a regulatory inconsistency.   As a result, UK life insurers using funded…