Global Humanitarian Overview

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News Date: July 10, 2020

The Global Humanitarian Overview (GHO) 2020 published on 4 December 2019 announced funding requirements of $28.8 billion to assist 108.8 million of the 167.6 million people in need in 53 countries.
Source: reliefweb.int

China is closer to the gold standard

Update from November 1st:
China Securities Index Co launched two gold-linked stock indices to cash in on surging demand for exposure to the safe-haven metal.
The new indexes include shares of global gold miners such as Newmont Corporation and Barrick Gold.
In response to Western responses to military conflicts, Chinese government-affiliated researchers are considering several strategies for China.
One is the issuance of gold-denominated bonds, supported by gold reserves, which would bolster economic resilience and establish China as a stable global player.
Another approach involves creating a global network of Chinese companies to diversify trade relationships and reduce vulnerability to sanctions.
Additionally, seizing American assets within China is seen as a retaliatory measure to protect Chinese interests and discourage unilateral actions by the U.S.
These strategies reported through Reuters collectively aim to ensure China's economic stability and global influence in an evolving geopolitical landscape.

CBI resumes sale of gold coins and bars

The Central Bank of Iraq has announced its decision to resume the sale of bullion and gold coins through an electronic platform, starting immediately.
Government and private banks can now participate in buying these assets through the dedicated electronic platform, subject to the Central Bank's guidelines and controls.
This move is set to modernize and streamline the precious metals market in Iraq, making it more accessible and transparent for all parties involved.

Zimbabwe to issue more gold coins

Zimbabwe hails gold coin success and wants to issue more.
Gold coins used as currency in Zimbabwe will soon be available in smaller denominations, the central bank says.
Those higher-value gold coins are available to buy at approved banks and are tradeable locally.
Sources: bbc.com

Central banks chiefs out

With Angela Merkel on her way out as Chancellor, her former chief economic advisor, Jens Weidmann, announced plans to step down at the end of the year as head of Germany's Bundesbank after a decade at the helm of the national central bank.
Dallas Fed President Kaplan and Boston Fed President Eric Rosengren To Retire After Ethics Issue.
Former Iranian Central Bank Chief Handed 10-Year Prison Sentence.
Slovakia's central bank chief and European Central Bank governing council member Peter Kazimir has been charged with corruption.
Philippine central bank Governor Benjamin Diokno said he is with "team transitory" and that it is more prudent for the country to delay monetary tightening.
The Turkish lira hit a record low overnight after President Recep Tayyip Erdogan ordered a new round of dismissals at the country's central bank.
So, central bank are starting to worry. They were wrong about inflation because they were wrong about supply chains, and they were perhaps wrong about labor markets, which they had just taken years to learn had no serious bargaining power.
To be continued... Stay Tuned!.
Sources: www.cnbc.com ,gesara.news

Basel IV Regulations Impact for Banking Industry

Basel IV Rules Will Arrive and Complicate Bank Lives Even Further.
New Banking Rules Will Tighten Credit Standards, according to Morgan Stanley.
According to Morgan Stanley analysts, the Fed will issue new bank capital regulations between late May and early July, which will be followed by a comment period and a final rule that will be implemented gradually between 2025 and 27.
For their US Large-Cap Banks coverage, they anticipate that the implementation of this Basel IV, often known as the 'Basel III Endgame,' will result in increased risk-weighted assets (RWAs) and capital requirements, with a focus on Global Systemically Important Banks (GSIBs).
The name 'Basel' comes from the city of Basel in Switzerland, where the Basel Committee on Banking Supervision was established in 1974.
The committee is made up of representatives from central banks and regulatory authorities from around the world, and its primary goal is to promote international financial stability by developing and promoting supervisory standards and guidelines for the banking industry.