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INFINOX Expands Footprint in Latin America, Aims for More Partnerships

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Thursday, August 29, 2024

IB, Financial Services Commission, Partnership, Affiliation, FSC, SCB, Securities commission

With this emphasis on partnerships in Latin America, INFINOX is strengthening its mission to democratize trading globally.

Key Points:

With this emphasis on partnerships in Latin America, INFINOX is strengthening its mission to democratize trading globally.
"Expanding our partnerships is a natural progression in our mission to empower traders globally," said Moe Padhani, Commercial Manager at INFINOX.
"We recognize the vibrant financial landscape in Latin America and are excited to introduce our highly rewarding partnership programs to a wider audience.
INFINOX is fully dedicated to providing unparalleled opportunities for our LATAM partners to succeed in this dynamic market."

Sahara AI Raises $43M to Build a Collaborative AI Economy

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Wednesday, August 14, 2024

Rest, MIT, Blog, Sahara, Pantera Capital, Matrix Partners, Microsoft, Privacy, General partnership, USC, Polychain Capital, SCB, LOS, Scientist, AI, Capital, Cryptocurrency

LOS ANGELES, Aug. 14, 2024 /PRNewswire/ -- Sahara AI, a decentralized blockchain platform built for open and equitable AI, announced today $43 million in total funding, led by Pantera Capital, Binance Labs, and Polychain Capital. The round included participation from Samsung Next, Matrix Partners, dao5, Geekcartel, Nomad Capital, SCB 10X, Canonical Capital, Mirana Ventures, Foresight Ventures, Dispersion Capital, Aegis Ventures, Alumni Ventures, and Tangent Ventures, among others.

Key Points:

This new capital will allow Sahara Labs to expand its global team of experts, enhance the performance of its AI blockchain, and grow its developer ecosystem.
This platform fosters an open, transparent, and inclusive AI economy where all participants are fairly attributed and compensated for their input.
We are excited to support Sean, Tyler and the rest of the team as they build towards this new collaborative AI economy."
"Since our inception, our goal has been to create a future where AI is ethical, transparent, and accessible to all through AI sovereignty and open technology," said Sean Ren, co-founder of Sahara Labs—the driving force contributing to Sahara AI.

Risk-to buﬀer: setting cyclical and structural banks capital requirements through stress test

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Saturday, August 3, 2024

Pillar, Logic, Counter, Table, Exercise, P2G, Chart, Calibration, House, Database, Central bank, Goodhart, Technical report, Single, Research Papers in Economics, Currency crisis, GFC, Section 4, Bias, Section 5, Interval (mathematics), C32, Section 2, Guerrieri, Macroprudential regulation, Bank of France, Annual Review of Economics, HICP, YT, History of the alphabet, Household, Double, Literature, ISSN, E51, Map, European Central Bank, Policy, R2, Social science, Data, XT, Capital loss, SSM, American Economic Review, Overalls, Debt service ratio, Ether, Monetary economics, SPR, SCB, Medical classification, High Risk, G01, Canadian International Council, Credit, Projection, BIS, Bank, Statistics, Dees, Prudential, Communication, Section 3, ZT, UNE, JEL, Accounting, ECB, Auerbach, Bank of England, American Economic Journal, PRA, BCBS, Silvana Tenreyro, Risk, PDF, Journal of Monetary Economics, Website, Housing, Growth, NFPS, Jonathan Hirtle, Elasticity, Economic Policy (journal), EBA, INF, DSR, Ricardian equivalence, GDP, Unemployment, Federal Reserve, Shock, Reproduction, Research, Risk management

Structural requirements aim at making banks more resilient to risks related to structural features of the banking system (interconnection, design of the real estate market, etc.).

Key Points:

Structural requirements aim at making banks more resilient to risks related to structural features of the banking system (interconnection, design of the real estate market, etc.).
However, if cyclical and structural requirements are calibrated using parallel stress tests based on similar scenarios, different requirements will end up covering the same type of vulnerability, resulting in a double counting of risk in capital requirements.
For instance, an adverse scenario used for structural requirements including cyclical elements might lead to overlaps with cyclical requirements.
To clarify how to jointly set cyclical and structural requirements via Stress test, the paper introduces a conceptual framework called ?Risk-to-Buffer?.
The use of risk-related scenarios in stress test exercises allows to establish a direct link between the cyclical risk level and the calibrated cyclical requirement.
These scenarios are used as inputs in a stress test model to project banks? capital ratios.
The reference-risk scenario is used to set the structural requirement level, and the additional losses due to the current cyclical risk scenario determine the cyclical requirement.
Third, we calibrate the cyclical and structural requirements according to the projected capital losses.
In this way, we can calibrate a structural requirement and cyclical requirements for the different phases of the financial cycle (e.g.
Also, the framework provides a transparent method to strike the balance between cyclical and structural requirements: it directly depends on the level of cyclical risk policymakers use as a reference to set the structural requirements.
The lower this reference level of cyclical risk, the lower the structural requirement and the higher the role of the cyclical requirements.
Through a set of econometric and accounting equations, these models assess banks? resilience by projecting capital ratios under negative macroeconomic adverse scenarios.
However, a formal framework to map projected capital losses into cyclical and structural requirements is missing.
These requirements are set according to banks? structural long-term features and with a lower frequency with respect to the cyclical requirements.
Examples of those requirements are the P2G and P2R requirements, set by the Single Supervisory Mechanism (SSM) at European level.
Macroprudential structural requirements are set considering the structural features of the banking system as a whole, as such as the Capital Conservation Buffer and the G-SIB buffers requirements.
3 On one hand, stress tests are used for the calibration of structural requirements, as P2G set by the ECB on the basis of the results of the European Banking Authority (EBA) Banks stress tests.
In this fashion, structural and cyclical requirements cover different types of vulnerabilities, addressing the risk of double-counting.
The loss of the reference risk scenario is used to set the structural requirement, whereas the additional loss triggered by the current cyclical risk scenario sets the cyclical requirement.
In this way, the sum of both requirements would not fall below the structural requirement, which acts as a backstop for capital requirements.
First, banking models and stress test models have been developed assess banks? resilience and calibrate requirements (Bennani et al.
In doing so, we set capital requirements with respect to the average banks? losses, obtained in a stress test model that does not take into account how idiosyncratic features of banks affect banks? balance sheet dynamics.
First, we show the logic behind the use of stress tests in setting capital requirements, highlighting the possible overlaps between different requirements when parallel stress tests are run.
Those two options show how the choice of the reference cyclical risk level transparently maps into different structural vs cyclical requirements balance.

Ema increases its Series A to $50M, with new funding led by Accel and Section 32

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Wednesday, July 31, 2024

SAN FRANCISCO, July 31, 2024 /PRNewswire-PRWeb/ -- Today, Ema, a generative AI company creating the universal employee of the future, announced its Series A totals $50M, after adding $36M in funding led by Accel and Section 32. The round also includes participation from Prosus Ventures, Sozo Ventures, Hitachi Ventures, Wipro Ventures, SCB 10X, Colle Capital and Frontier Ventures. The company has raised $61M to date. Ema has more than tripled its customer base since it came out of stealth in March.

Key Points:

Ema, a generative AI company creating the universal employee of the future, announced its Series A totals $50M, after adding $36M in funding led by Accel and Section 32.
The round also includes participation from Prosus Ventures, Sozo Ventures, Hitachi Ventures, Wipro Ventures, SCB 10X, Colle Capital and Frontier Ventures.
SAN FRANCISCO, July 31, 2024 /PRNewswire-PRWeb/ -- Today, Ema , a generative AI company creating the universal employee of the future, announced its Series A totals $50M, after adding $36M in funding led by Accel and Section 32.
The round also includes participation from Prosus Ventures, Sozo Ventures, Hitachi Ventures, Wipro Ventures, SCB 10X, Colle Capital and Frontier Ventures.

Sweden Construction Industry Report 2024: Market to Fall by 6.1% in Real Terms This Year, Owing to Head Winds Caused by High Inflation, Interest Rates, and Falling Building Permits - ResearchAndMarkets.com

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Friday, July 19, 2024

Utilities, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Energy, Construction & Property, Weakness, Yoy, Construction, Investment, SCB, Commercial, Sector, Risk, Housing, Assessment

Construction industry in Sweden is projected to fall by 6.1% in real terms in 2024, owing to head winds caused by high inflation, interest rates, and falling building permits.

Key Points:

Construction industry in Sweden is projected to fall by 6.1% in real terms in 2024, owing to head winds caused by high inflation, interest rates, and falling building permits.
Moreover, the country's average construction production value index fell by 7.1% in the first three months of 2024, preceded by an annual decline of 6% in 2023.
Major decline in the residential sector and weakness in commercial sector is likely to weigh on the construction industry's output in 2024.
Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Sweden, featuring details of key growth drivers.

SCBX, SCB 10X and SambaNova Enter Into Milestone Agreement to Expand AI Models; Typhoon Thai LLM Added to Samba-1

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Wednesday, July 10, 2024

The power and scalability of Samba-1 is now enhanced with Typhoon, a series of Thai Large Language Models (LLMs).”

Key Points:

The power and scalability of Samba-1 is now enhanced with Typhoon, a series of Thai Large Language Models (LLMs).”
Typhoon-1.5X has been recently launched, offering significant advancements in Thai NLP and AI.
Available in 8B and 70B sizes, it is optimized for the Thai language and performs comparably to top models like ChatGPT and GPT-4.
It addresses the language gap in models primarily trained in English by overcoming resource limitations associated with the Thai language.
By integrating Typhoon into Samba-1, we believe AI developers will have an enhanced experience, advancing AI innovations and strengthening Thailand's AI industry."

Santander Holdings USA, Inc. Announces 2024 Stress Capital Buffer

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Friday, June 28, 2024

Professional Services, Aftermarket, Automotive, Commercial Building & Real Estate, Construction & Property, REIT, Banking, Santander Bank, Category, Federal Reserve, Federal, SCB, Fortune (magazine), Banco Santander, Common equity

The Board of Governors of the Federal Reserve System (the “Federal Reserve”) informed Santander Holdings USA, Inc. (“SHUSA”) on June 26, 2024, of SHUSA’s updated stress capital buffer (“SCB”) requirement, which becomes effective on October 1, 2024.

Key Points:

The Board of Governors of the Federal Reserve System (the “Federal Reserve”) informed Santander Holdings USA, Inc. (“SHUSA”) on June 26, 2024, of SHUSA’s updated stress capital buffer (“SCB”) requirement, which becomes effective on October 1, 2024.
SHUSA’s strong capitalization supports our planned capital actions and the updated SCB is consistent with our long-term capital efficiency objectives.
As of March 31, 2024, SHUSA maintains $5.1 Billion of excess CET1 capital over the 8.0% capital requirement.
These include Santander Bank, N.A., Santander Consumer USA Holdings Inc., Banco Santander International, Santander Securities LLC, Santander US Capital Markets LLC and several other subsidiaries.

Wells Fargo Issues Statement Regarding the Federal Reserve’s Stress Test Results and Intention to Raise Dividend by 14%

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Friday, June 28, 2024

Finance, Business, Banking, Professional Services, Small Business, Multimedia, Wells Fargo, SCB, FRB, Investment, WFC, Risk, CCAR

Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2024 Comprehensive Capital Analysis and Review (CCAR) stress test process.

Key Points:

Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2024 Comprehensive Capital Analysis and Review (CCAR) stress test process.
The Company expects its stress capital buffer (SCB) to be 3.8%, which represents a percentage amount of incremental capital the Company must hold above its minimum regulatory capital requirements.
The Federal Reserve Board (FRB) has indicated that it will publish the Company’s final SCB by August 31, 2024.
“Wells Fargo continues to have a strong capital position, reflecting the strength of our franchise and the investments we’ve made to better serve our customers,” said CEO Charlie Scharf.

U.S. Bancorp Releases Dodd-Frank Act Stress Test Results

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Friday, June 28, 2024

Banking, Professional Services, Finance, U.S. Bancorp, Bank holding company, Consumer Protection Act, SCB, USB, Federal, Federal Reserve, Financial adviser

U.S. Bancorp (NYSE: USB) commented on the results of the Federal Reserve’s Dodd-Frank Act Stress Test (DFAST) conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Key Points:

U.S. Bancorp (NYSE: USB) commented on the results of the Federal Reserve’s Dodd-Frank Act Stress Test (DFAST) conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Based on its 2024 stress test results, the company expects to be subject to a preliminary stress capital buffer (SCB) of 3.1 percent, for the period beginning October 1, 2024, and ending on September 30, 2025.
“The results of this year’s stress test demonstrate that we are well-capitalized, have a healthy balance sheet and remain prepared to manage potential industry stress and withstand a severe economic downturn,” said Andy Cecere, Chairman and CEO of U.S. Bancorp.
In addition, the company has published its company-run DFAST results, which are available on the company’s website at www.usbank.com under “

Morgan Stanley Announces 7.5 Cents Dividend Increase and Authorization of a Renewed $20 Billion Multi-Year Common Equity Share Repurchase Program

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Friday, June 28, 2024

Professional Services, Finance, SCB, CCAR, Morgan Stanley, Federal Reserve, Share repurchase, Cryptocurrency

Morgan Stanley (NYSE: MS) announced that it will increase its quarterly common stock dividend to $0.925 per share from the current $0.85 per share, beginning with the common stock dividend expected to be declared by the Firm’s Board of Directors in the third quarter of 2024.

Key Points:

Morgan Stanley (NYSE: MS) announced that it will increase its quarterly common stock dividend to $0.925 per share from the current $0.85 per share, beginning with the common stock dividend expected to be declared by the Firm’s Board of Directors in the third quarter of 2024.
In addition, the Firm’s Board of Directors reauthorized a multi-year common equity share repurchase program of up to $20 billion, without a set expiration date, beginning in the third quarter of 2024.
Ted Pick, Chief Executive Officer of Morgan Stanley, said, “These results demonstrate continued execution of a clear and consistent strategy to raise, manage and allocate capital for clients.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services.