Fed Wants Banks to Say What They’re Doing to Promote Diversity
“The Federal Reserve wants the banks it oversees to provide more information on what they’re doing to promote racial and gender diversity, a senior central bank official said. “In the last two years, regulated entities slightly increased their submissions of assessments of their diversity policies and practices,” Sheila Clark, program director of the Fed’s Office of Diversity and Inclusion, said in congressional testimony published ahead of a hearing Tuesday. However, we are not satisfied with the level of responsiveness.”
Bank of England Chief Economist Warns Against Extending Furlough Program
“The Bank of England’s chief economist has thrown his weight behind the government’s controversial plan to let its wage-support program end, saying that prolonging it could delay the economy’s much-needed restructuring. Calls have been mounting for the subsidies to be extended beyond next month, but Andy Haldane said a better way might be to let pay levels and working hours adjust to the market. At the same time he signaled that companies may need help managing the debt burdens they’ve built up during the pandemic.”
Bank of Japan’s Covid Loan Programs Risk Revival of ‘Zombie’ Firm Concerns
“The Bank of Japan’s loan programs to help businesses ride out the recession run the risk of creating more zombie companies if they are kept in place for too long, analysts warn. The central bank loan measures, worth almost $1 trillion, have so far fueled a record jump in lending that’s kept firms afloat during the nation’s worst economic slump. The challenge for policy makers is to turn off the tap before an apparently successful lifeline of support for otherwise healthy firms turns into an addictive supply of cash for habitual loss-makers.”
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.