AGP Executive Report
Last update: 4 hours agoU.S. Banking Oversight: A review by the OCC said policies at nine major banks allowed customers to be denied services for political or religious reasons. The report cited JPMorgan subsidiary WePay’s closure of accounts tied to pro-Trump merchandise; no penalties were imposed. Rates and Mortgages: Vietnam’s central bank urged commercial lenders to cut deposit rates by at least 0.5 percentage points and reduce rates on priority-sector loans. In the UK, HSBC and NatWest cut mortgage rates, offering relief to borrowers and potentially prompting rival lenders to follow. Development Finance: Ten multilateral development banks are working toward a joint fund to attract private investment, building on reforms that they say could expand lending capacity by $792 billion over the next decade. African Banking: Nigerian banks raised ₦4.65 trillion in fresh capital as inflation eased to 14.63%, according to the central bank governor. Credit Risk: The IMF warned that financially weak “zombie” firms account for 21.4% of corporate debt across 10 Asian economies, posing risks to lenders and financial stability.
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