Free Republic

Central bank digital currencies can push the world away from depending on the U.S. dollar, the organization said. . The International Monetary Fund (IMF) released a handbook for global central banks regarding the development and implementation of central bank digital currencies (CBDCs). The IMF’s “Central Bank Digital Currency Virtual Handbook” published last week pointed out that the increased use of CBDCs can “reduce dollarization” of the global economy—a situation where countries move away from relying on the U.S. dollar as a reserve currency. De-dollarization would push up borrowing costs in the United States, making loans expensive for businesses and individuals,...

DENVER (KDVR) — Some people are not getting their paychecks Friday due to a banking system issue. Deposits are reportedly delayed at multiple banks across the U.S. The Federal Reserve is reporting an issue with the Automated Clearing House, which is the primary system agencies use for electronic funds transfers. Customers of Bank of America, Chase, U.S. Bank, Wells Fargo and other banks have been reporting issues with deposits on X, formally Twitter, and Downdetector. Both Chase and Bank of America gave statements to CNN, confirming that some deposits may be delayed. The Fed reported a batch of transfers had...

LONDON, NatWest CEO Alison Rose stepped down with immediate effect on Wednesday after she admitted to a "serious error of judgment" in discussing former Brexit party leader Nigel Farage's relationship with the bank with a BBC journalist. ... NatWest has faced intense political and media scrutiny over a decision by its private bank Coutts to close Farage's accounts. An internal review .. showed Coutts' wealth reputational risk committee had said his values did not align with the bank's own. ... Some major NatWest investors are also applying pressure on the bank's chair Howard Davies to step down for mishandling the...