Euro zone banks need to do a better job in recognizing soured loans as their current ways of identifying troubled credit may be ineffective, European Central Bank supervisory chief Andrea Enria said on Tuesday.
The Texas state Senate approved a bill on Monday to cut about $5.1 billion in disputed electricity and service fees levied on power marketers during a winter freeze that sent the state's power market into financial crisis.
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(Reuters) - A spate of volatility in money markets has stoked speculation the Federal Reserve may be forced into a technical adjustment to the levers controlling its benchmark interest rate to ensure that it does not fall too low, but few expect the central bank to act on the matter at this week’s meeting.
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid
Interest rates in some short-term funding markets have dropped into negative territory on a handful of occasions recently, driven down by factors such as the Fed’s $120 billion a month of bond purchases, a surge in bank reserves and a big drop in the federal government’s cash stockpile as it doles out pandemic relief payments and tax refunds.
By Reuters Staff
(Updates with background)
March 16 (Reuters) - Canada’s Just Energy said on Tuesday it had applied to voluntarily delist its shares from the Toronto Stock Exchange after the electricity and gas provider filed for bankruptcy last week.
On March 9, the company filed for creditor protection in Canada and said it planned to do the same in the United States due to massive costs from the Texas deep freeze.
It became the second Texas electricity company to take that step in the face of extraordinary electricity charges during the cold snap.
Just Energy said it plans to apply to the TSX Venture Exchange to transition the trading of its common shares from the TSX to the TSX-V.
Wall Street's S&P 500 index ended lower on Tuesday and a gauge of global equities was close to flat as investors awaited the Federal Reserve and other central banks meetings this week, where regulators will indicate if they will retain policies supporting a post-pandemic.