In contrast with the US economy, where firms borrow on bond markets, lending in Europe is driven by banks. The ECB has found a new way to stimulate the economy by creating a tiered system of interest rates. If banks lend to business, they can now do so with funds from the so-called TLTRO facility that the ECB pays them to borrow from. This subsidy to bank lending has not been enough to prevent a worrying slide towards deflation, but it has worked in ensuring that credit flow has not collapsed. … [Read more...] about The world’s central banks are starting to experiment. But what comes next?
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Fraser was appointed as president of Citi last year when she took control of its global consumer banking division. Before that she had senior leadership roles for the bank in Latin America and in its US mortgages and mergers and acquisitions divisions. Prior to Citi, Fraser worked at the management consultancy McKinsey. … [Read more...] about Citigroup becomes first big Wall Street bank to be run by female CEO
Speaking on the City AM podcast, Haldane added his voice to the Bank of England governor, Andrew Bailey, who said last month that the chancellor, Rishi Sunak, should “move forward” to the next stage of government support rather than extend the furlough scheme. … [Read more...] about Bank of England’s top economist warns against furlough scheme extension
'I was almost ashamed, to be honest, to even pick up food from the food bank because somebody might look at my used Cadillac and be like, 'What is she doing in the food bank line?' But I had to get past those feelings of shame. There's no shame in feeding my children.' … [Read more...] about Thousands of cars line up at San Antonio food bank from before dawn as millions file for unemployment across the country
Visit your local branch as soon as you can. If you can't get there, or it is closed, call your bank and ask for its guidance on what to do. If the bank’s phone services are also down or busy, try contacting your bank on social media to ask what to do. But remember: don’t ever share your account details over social media. Try to do this on the day the problem arises so you can show you made every attempt to solve the issue. If you still can't access your money, begin gathering evidence for a complaint. … [Read more...] about Is TSB down? How to check if the website or banking app is working