News list for "Insurance"
On January 20, the Federal Deposit Insurance Corporation (FDIC) was accused of omitting multiple cryptocurrency-related "suspension letters" sent to banks in a Coinbase-backed Freedom of Information Act (FOIA) lawsuit. History Associates noted in a January 17 report filed in federal court in Washington, D.C., that the FDIC "may have missed other suspension letters" and plans to update the lawsuit based on this. There have been public reports that the FDIC "systematically obstructed FOIA requests...
According to the Financial Times, the outgoing chairperson of the US Federal Deposit Insurance Corporation (FDIC) has warned that the US financial system could pay a "high price" if the Trump administration cuts regulation of banks too aggressively. Martin Gruenberg said: "In the financial sector...
In a recent public speech, Federal Deposit Insurance Corporation (FDIC) Vice Chairperson Travis Hill criticized the FDIC's stance on digital assets and called on banking regulators to issue new digital asset guidelines. Hill, who was appointed to the board by Republicans two years ago, criticized the FDIC's role in pressuring banks to give up crypto customers. "The FDIC's long-term goal is to reduce the number of people who are unbanked," he said.
In a speech delivered on Friday, Travis Hill, vice chairperson of the Federal Deposit Insurance Corporation (FDIC), said the FDIC will take a more "open approach" to technology and called for more guidance on digital assets. It is reported that Travis Hill, who is preparing to serve as acting chairperson of the FDIC and is currently vice chairperson, was nominated as a Republican member of the FDIC in 2022. Travis Hill's remarks come as some in the crypto industry...
On January 10, the reporter learned that the relevant documents on the pricing mechanism of the predetermined interest rate of life insurance products may be issued recently, and the industry expects that the predetermined interest rate of life insurance products will be reduced in the second quarter. An industry insider told the reporter that the upper limit of the predetermined interest rate of the newly filed ordinary insurance products is expected to be reduced from 2.5% to 2.0%; the upper l...
Multiple Federal Deposit Insurance Corporation (FDIC) insiders have exposed a series of misconduct by the agency in Operation Chokepoint 2.0, a crackdown on the crypto industry. According to the revelations, the FDIC used a variety of means to circumvent Freedom of Information Act (FOIA) disclosure requirements, including marking documents as attorney-client privilege, conducting incomplete searches in regional systems, and hiding documents generated on collaboration platforms such as Microsoft ...
On December 31st, the People's Bank of China will launch the second securities, fund and insurance company swap convenience operation in the near future. The swap period is 1 year, which can be extended according to the situation. It will operate for eligible securities, fund and insurance companies. The swap rate will be determined by the bidding of participating institutions. Submissions from institutions will be accepted from now on.
Mr. Trump's promise to ensure that all remaining bitcoins are "made in America" should be one of the least likely to materialise. Industry insiders widely agree that Mr. Trump's promise is seen more as symbolic support for the cryptocurrency industry and is virtually impossible to realise in practice. Because the blockchain is a decentralized network, no one controls or is banned from participating in the process. US-based miners still have far less than half of the global total, making it all b...
On December 22nd, according to Dailyhodl, the Federal Deposit Insurance Corporation (FDIC) said in its quarterly bank profile report that the number of U.S. banks on its "problem bank list" rose to 68 in the third quarter. Total assets held by problem banks increased by $3.90 billion to $87.30 billion. Problem banks account for 1.5% of the total number of banks, and in non-crisis times, this proportion is in the normal range of 1% to 2% for all banks...
The number of US banks on its "troubled bank list" rose to 68 in the third quarter, the Federal Deposit Insurance Corporation said in its quarterly bank profile. In the third quarter of this year, banks lost $364 billion on their books, mainly due to their involvement in residential real estate and Treasury bonds. The unrealized loss represents the difference between the price a bank paid for a security and the current market value of those assets. In the third quarter, the bank's paper loss dec...
The General Office of the State Financial Supervisory Administration issued the "Guidelines for the Application of Internal Control over the Use of Insurance Funds (No. 4-6) ".
State Financial Supervision and Administration: Insurance companies to carry out equity investment, at least pay attention to asset and liability mismatch risk, market risk, liquidity risk, legal compliance risk and operational risk.
On December 13, according to a report in the Wall Street Journal, people familiar with the matter said that Trump's advisers and officials from his newly formed Department of Government Effectiveness have asked him whether he can abolish the Federal Deposit Insurance Corporation. Some of them said that advisers have also asked nominees who are considering positions at the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (OCC) whether they can merge the depo...
According to DL News, the suspect in the murder of United Healthcare CEO Brian Thompson has attracted the attention of cryptocurrency users. After the murder of the insurance company executive on December 4 and the subsequent massive police manhunt, punters on the crypto prediction platform Polymarket poured $500,000 into the platform. At the same time, the price of Meme Coin, which was linked to the details of the manhunt, soared. An alleged offender Luigi Mang...
Ripple's chief technology officer has criticized the Federal Deposit Insurance Corporation's (FDIC) actions against cryptocurrencies, particularly after Coinbase publicly exposed the FDIC's attempts to prevent banks from backing the industry. Recent court filings and industry disclosures have brought attention to the regulator's strategy towards the crypto industry. The new filings show that in 2022, the FDIC advised banks to suspend crypto-related activities due to unresolved regulatory risks. ...
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