The Federal Reserve is refining its reform plan for stress testing at large banks and has submitted a proposal for public comment that would calculate the two-year average results. The Fed said it intends to delay the effective date of the annual stress capital buffer requirement from Oct. 1 to Jan. 1 next year to give banks more time to adjust to the new capital requirements. The proposal would also "make targeted changes to streamline data collection related to board stress testing". The Fed s...
Hidden Road said on Thursday it had received approval from the US Financial Industry Regulatory Authority (FINRA) to operate as a US broker-dealer, strengthening its fixed income prime brokerage platform. The company plans to offer a wider range of services to institutional clients, including clearing, financing and prime brokerage of fixed income assets.
Ripple will acquire Hidden Road for $1.25 billion, and the deal is expected to close in the coming months, pending regulatory approval.
April 18 news, international oil prices rose significantly on the 17th. As of the end of the day, light crude oil futures for May delivery on the New York Mercantile Exchange rose by $2.21 to close at $64.68 per barrel, an increase of 3.54%; London Brent crude oil futures for June delivery rose by $2.11 to close at $67.96 per barrel, an increase of 3.20%.
The dollar index, which measures the greenback against major currencies, fell 0.01 percent on the day to close at 99.375 in late foreign exchange trading.
April 18 news, U.S. stocks closed on Thursday, the Dow index initially closed down 1.3%, the S & P 500 index closed up 0.13%, the Nasdaq Composite index closed down 0.13%. Lilly (LLY. N) rose 14.2%, Apple (AAPL. O) rose 1.3%, NVIDIA (NVDA. O) fell nearly 3%. Nasdaq China Golden Dragon index closed down 0.4%, Alibaba (BABA. N) rose 2%, Sohu (SOHU. O) rose 5.3%, XPeng Motors (XPEV. N) fell more than 2%.
According to sources familiar with the matter, crypto exchange Kraken has laid off hundreds of employees across its various business units in the past few months.