Search Result for : Fca

By Abin Daya The LIBOR is dead! Well, not quite. But in the next 4 years, it could be. The The Financial Conduct Authority (FCA) announced this week that it intended to phase out the LIBOR by 2021. Post that, banks would no longer be compelled to provide interest quotes to the Inter-Continental Exchange, and in the absence of these, the benchmark would die a natural death. What comes after that? We don’t know yet. But the first item this week is something closer home – India’s foreign trade numbers for the month of June. Apart from what is included in the update, I also tried to explore if there was some sort of correlation between industrial production growth and export performance. ...

PTI India's foreign exchange reserves dropped by $360.9 million to $362.785 billion in the week to February 10 due to decline in foreign currency assets (FCAs), a key component, the Reserve Bank said today. In the previous week, the reserves had increased by $1.588 billion to $363.146 billion. A major component of the overall reserves, FCAs declined by $347.1 million to $339.778 billion in the reporting week, RBI said. Expressed in US dollar terms, they include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen held in the reserves. Gold reserves remained unchanged in the week at $19.248 million, the apex bank said. The special drawing rights with the International Monetary Fund ...

The agreements were necessitated after the UK introduced changes in its financial services regulations The Dollar Business Bureau The RBI signed separate MoUs with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), United Kingdom   The Reserve Bank of India (RBI) on Wednesday said that it has signed agreements with Britains two regulatory bodies to ensure greater supervisory cooperation and exchange of information related to financial markets. The RBI signed separate Memoranda of Understanding (MoUs) on supervisory cooperation and exchange of supervisory information with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), United Kingdom, the central bank said in a statement. Though the Reserve Bank had entered into an agreement with the Financial Services Authority (FSA) of the UK in July 2012, fresh ...

The Dollar Business Bureau India’s foreign currency reserve has increased from $313.84 billion to $341.64 billion in the past six months, which is enough to cover the country’s import bills up to 8.9 months. “At the end of March 2015, the import cover increased to 8.9 months from 8.1 months at end-September 2014,” the Reserve Bank of India said in its half-yearly report on the Management of Foreign Exchange Reserves released on Tuesday. The import cover indicates the country’s total foreign currency asset (FCA). The reserve was able to cover only 7.8 months of import at end-March 2014 and 6.6 months at end-September, 2013. Change in the FCA occurs mainly due to purchases and sales of foreign exchange by the central bank ...