Goldilocks’ Comments and Global Economic News Wednesday Afternoon 6-12-24

0
31

Goldilocks’ Comments and Global Economic News Wednesday Afternoon 6-12-24

Good evening Dinar Recaps,

“BASEL COMMITTEE MUST STOP GLOBAL BANKS FROM CONTINUING TO CHEAT ON KEY REGULATORY TESTS AND ENDANGERING FINANCIAL STABILITY” | BetterMarkets

These tests include examinations of the bank’s capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to systemic risk.

The above sentence is otherwise known as stress tests. A stress test determines how well a bank is capable of handling a liquidity crisis.

The OCC and FDIC conduct several tests to measure a bank’s capacity to withstand transitional periods like we are in at the present time.

These tests are conducted to prevent crisis interventions and collapse situations that could become a contagion to other Banks.

Tighter controls on the new digital banking system are not only expected, but they will determine the compliance level a bank has in their standing going forward.  BetterMarkets

© Goldilocks
~~~~~~~~~

BRICS: BRICS calls for enhanced use of local currencies in trade between member countries – The Economic Times

~~~~~~~~~

Joint Statement of the BRICS Ministers of Foreign Affairs/International Relations, Nizhny Novgorod, Russian Federation, 10 June 2024 – The Ministry of Foreign Affairs of the Russian Federation | Ministry of Foreign Affairs

~~~~~~~~~

Call to Action: ISSB Global Adoption

“The International Sustainability Standards Board (ISSB) is an independent, private-sector organization that develops and approves IFRS Sustainability Disclosure Standards.”

The International Financial Reporting Standards are intended to make financial statements consistent, transparent, and comparable around the world.

The IFRS S1 and IFRS S2 are climate standards on an economy looking to be accepted on a world wide basis by 2025.

“IFRS S1 requires companies to disclose material information on all sustainability-related risks and opportunities that could reasonably be expected to affect their prospects. IFRS S2 sets out the requirements for climate-related disclosures.”

Sustainability-related risks deal primarily with liquidity issues surrounding the banking system such as Governmental risks and economic factors.

Greenhouse gas (GHG) emissions is a climate-related risk. It is a climate related disclosure being proposed, and how, the banking system will be a part of managing those risks ie car loans.

Many compliance rules are expected to shift inside the new digital economy along with climate risks that will affect banking operations. This is one of the new adaptations that is being called for to help us adjust to our changing world.

As you can see from the previous article, new changes are being developed and governed by the ruling bodies above and beyond the banking system to recommit their International compliance standards inside this new digital banking system.   CorpGovLaw   EY   IFRS   PWC   Zurich

© Goldilocks

~~~~~~~~~

National and International governing bodies are starting to get involved with their new policies that will govern the new digital banking system.

This gives us an indication that the governing bodies of our new banking system are beginning to shift their attention to new rules and regulations that will move our money going forward.

© Goldilocks

~~~~~~~~~

How will Europe’s elections impact digital euro legislation? – Ledger Insights – blockchain for enterprise

~~~~~~~~~

Russia intends to perform its first cross-border payments using the digital ruble in the second half of 2025. Central bank digital currency (CBDC) transactions with China or Belarus are on the cards. That’s according to Anatoly Aksakov, who chairs the Financial Markets Committee of Russia’s State Duma. |  LedgerInsights

~~~~~~~~~

Panel perspectives: Navigating the new waves of supply chain finance |  TradeFinanceGlobal

~~~~~~~~~

Project Cedar, Explained (Wholesale Central Bank Digital Currency Prototype).  How the 7 trillion dollar a day Forex Market will move its money. | Youtube

~~~~~~~~~

We are moving from a World Reserve Asset transaction to Central Bank Digital Ledger Technological (blockchain) transactions.

© Goldilocks

~~~~~~~~~

~~~~~~~~~

🚨BREAKING: BRICS Says 59 Nations Plan to Join, New Financial System, Dedollarization Priorities | Youtube

~~~~~~~~~

A Distributed Systems Reading List | Ferd CA

~~~~~~~~~

Putin Says BRICS Developing Independent Payment System Free From Political Pressure – Featured Bitcoin News

~~~~~~~~~

Ripple Completes Acquisition of Standard Custody & Trust Company – News Bytes Bitcoin News

~~~~~~~~~

Saudi Arabia’s petro-dollar exit: A global finance paradigm shift | The Business Standard

~~~~~~~~~

Russia’s Moscow Exchange to stop trading in dollars after latest US sanctions | ARA TV

~~~~~~~~~

~~~~~~~~~

FOMC Press Conference June 12, 2024 | Youtube

~~~~~~~~~

~~~~~~~~~

~~~~~~~~~

Follow Goldilocks’ Roadmap

Follow Goldilocks’ Timeline 

Goldilocks’ Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter