HALISTER1: FSB Acts to Stem Decline in Correspondent Banking, Sets Workplan

FSB Acts to Stem Decline in Correspondent Banking, Sets Workplan

(Bloomberg) -- Financial Stability Board publishes progress report on 4-point plan to assess and address decline in correspondent banking relationships, sets out workplan for 2017.
  • FSB’s Correspondent Banking Coordination Group surveyed national authorities and banks to improve data on causes and consequences of the decline
  • Actions planned for 2017 include:
    • By March, FSB to suggest communication strategies to publicize steps taken to improve frameworks for anti- money laundering and combating the financing of terrorism
    • By April, publication of findings from survey; FSB and Swift to set out process for monitoring of trends
    • By June, Basel Committee to publish revised guidance on correspondent banking, task force to finish work on definition
    • Steps to be taken to share information and support coordination
    • Swift and Wolfsberg Group to develop action plan to strengthen market guidance on payment messages used for correspondent banking
  • Further progress report on the work of the Coordination Group to be published ahead of the G20 Leaders’ Summit in Hamburg in July 2017
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Billionaire Steinmetz Detained in Israel on Bribe Suspicion (1)

Billionaire Steinmetz Detained in Israel on Bribe Suspicion (1)

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
3600258Z IA (BSG Resources Ltd)

People
Beny Steinmetz (Agnes & Beny Steinmetz Fdn)
Anthony Blair (United Kingdom of Great Britain and Northern Ireland)
George Soros (Soros Fund Management LLC)
Mahmoud Thiam (Republic of Guinea)

Topics
Who's News - People

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UUID: 7947283

HALISTER1: German Dec. Ifo Business Climate Due in 5 Minutes; Est. 110.6

German Dec. Ifo Business Climate Due in 5 Minutes; Est. 110.6

(Bloomberg) -- German Dec. Ifo business climate est. 110.6 vs previous 110.4.
  • German Dec. Ifo current assessment est. 115.9 vs previous 115.6
  • German Dec. Ifo expectations est. 105.6 vs previous 105.5
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Israeli Detained on Suspicion of Bribing Guinea Officials

Israeli Detained on Suspicion of Bribing Guinea Officials

(Bloomberg) -- Businessman, who wasn’t identified by name, also suspected of money laundering, police spokeswoman says in text message.
  • Businessman and other Israelis who live mostly abroad suspected of paying tens of millions of dollars to senior civil servants in Conakry
  • Investigation being conducted in conjunction with U.S.,Swiss, and Guinea enforcement agencies
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: USD Swap Spread Rises on Growth Optimism, Buy 5-Yr UST: Mizuho

USD Swap Spread Rises on Growth Optimism, Buy 5-Yr UST: Mizuho

(Bloomberg) -- Optimism for faster U.S. economic growth and higher rates is boosting demand for receiving floating rates, driving 10-year USD swap spread higher, says Hiroko Iwaki, senior foreign bond strategist at Mizuho Securities in Tokyo.
  • Adds, however, doubtful as to whether the “rosy” outlook will materialize given the swap spread remains below zero
  • Sees it unlikely at the moment that Fed will raise rate more than twice in 2017
  • Favors buying Treasury 5-year notes on expectations that yields will reprice Fed rate prospects
  • NOTE: 10-year swap spread touched -7.75bps on Friday, highest since July 6
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Hiroko Iwaki (Mizuho Securities Co Ltd)

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UUID: 7947283