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The European Union is working to expand the mandate of the European Investment Bank for lending to Iran in the conditions of US sanctions, the Joint Commission of the Joint Comprehensive Plan of Action reported. The statement says that the work on updating the EU “blocking law” is being carried out in order to protect companies of the countries, which are EU members, and the EIB's mandate for external borrowing is being updated to include Iran. In May, after the US resumed sanctions against Iran, the EU launched a “blocking law” dated 1996 to protect its enterprises.
The U.S. Federal Reserve eased another $2 million in emergency loans this week to help struggling U.S. businesses amid the recession. The Fed’s overall asset portfolio reported growth for the second week, holding above $7 trillion. The ...
The Federal Reserve’s balance sheet shrank for the second time in two weeks as central banks reduced their use of currency swaps while US banks continued to cut their use of Fed repurchase agreements. From $7.14 trillion a week earlier, ...
The Bank of Japan (BOJ) on Wednesday offered ¥8.28 trillion ($77.74 billion) in loans to financial institutions under its first phase of its new lending program. The move came in a bid to transfer funds to firms that have been heavily ...
After a series of rate cuts to cushion the economic impact of the pandemic crisis, the Bank of Japan held its rates steady on Tuesday to signal that the easing efforts made were enough to support growth. But the BOJ announced a welcome development ...
The dollar rose against Asian currencies on Wednesday after the U.S. Federal Reserve announced a new lending program. However, the dollar faced strong headwinds following the release of U.S. retail sales and industry data which revealed the ...
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