Questions tagged [banking]

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9
votes
0answers
306 views

Brexit, EU tax evasion regulation, and the City of London

Articles (such as this one published by Foreign Policy and this one by BBC) and documentaries (such as 2017 film "The Spider's Web" described here) detail the history and extent of Britain’s "Empire ...
3
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1answer
133 views

How does INSTEX work, and why won't it work?

After the US withdrew from the JCPOA, it threatened criminal and/or financial action against entities which trade with Iran (with some limited exemptions). This made the SWIFT society drop Iranian ...
34
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8answers
9k views

How do governments keep track of their issued currency?

If a government issues currency and it ends up in bank accounts abroad, what stops banks from making a 'mistake' during a transfer, accidentally duplicating the currency? Is there some central ...
1
vote
3answers
243 views

Why do contactless payments without pin code seem to be regulated at national level rather than at bank / customer level?

I have recently checked if I am able to change my contactless without pin limit and realized that this is not an option. So I quickly checked for other countries and it seems to be set by national ...
6
votes
3answers
1k views

What does “breaking up” a company mean?

Oversimplify it for me, what does "breaking up" a company mean when used commonly among politicians? What would a broken up wells fargo look like? Google? Is there historical legislation doing this, ...
1
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0answers
54 views

What is the rationale of capping interbanking rates to values significantly lower than inflation rate?

Romania’s finance ministry announced some sort of "tax on greed" for banking sector: Romania’s finance ministry plans to introduce a tax on banking assets from 2019, seeking to cap the interbank ...
4
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0answers
241 views

What was the largest case of fraud involving TARP money (financial crisis bailout funds)?

There were hundreds of convictions for misusing TARP money given as bailout after the 2008 financial crisis. The US government set up the Troubled Asset Relief Program (TARP) in October 2008 to ...
1
vote
0answers
52 views

How far up the banks' hierarchy did the LIBOR rigging convictions (and prosecutions) go?

It's been reported that a number of bank personnel were convicted for LIBOR rigging, although quite a few more were acquitted. Barclay's CEO and chairman both resigned following the scandal, but ...
12
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2answers
2k views

How can Switzerland maintain a banking system which is almost unaccountable to the rest of the world?

The term "Money in the Swiss Banks" is used as a synonym to monetary corruption (black-money, money laundering, offshore wealth, and so on). Indian black money in Swiss banks $200bn of Pakistan in ...