Chinese banks’ funding constraints are set to ease after policy makers authorized the sale of certificate of deposits in a move toward loosening control over interest rates in the world’s second-largest economy.
Turkey’s first global fund dedicated to Islamic investors will beat returns from Shariah-compliant bank deposits and will lure inflows of $1 billion during the next three years, its chief executive officer said.
The Brazilian overnight loan market between banks is shrinking as the biggest lenders have pulled back, affecting the rate tied to $865 billion of securities and mutual funds, said two people with direct knowledge of the matter.
European Central Bank President Mario Draghi comments comments on inflation, the economic outlook for the euro-area, exchanges rates, Italy’s Banca Monte dei Paschi di Siena SpA and the region’s sovereign debt crisis.
Brazil’s central bank reduced reserve requirements to free up 30 billion reais ($14.9 billion) in credit as President Dilma Rousseff pushes banks to lower borrowing costs in the world’s second-biggest emerging market.