The hottest Banking Substack posts right now

And their main takeaways
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Top Finance Topics

Investing Update: Panic Creates Opportunity

Spilled Coffee • 0 implied HN points • 18 Mar 23
💰 Finance Banking
  1. Investors are currently overweight bonds, banks, and cash, while underweight tech and equities.
  2. The high number of new 52-week lows in security instruments may indicate a bear market bottom is near.
  3. People are less interested in buying stocks, with allocations to equities at their lowest in years.

2023 Bank Term Funding Program Tutorial: A Step-by-Step Guide for CFOs and Bank Owners

The Tweetsift Report • 0 implied HN points • 17 Mar 23
💰 Finance Banking
  1. The Bank Term Funding Program offers loans up to one year with specific eligible collaterals like U.S. Treasuries.
  2. To participate, banks must follow a step-by-step process including confirming eligibility and submitting required documentation.
  3. Operating Circular No. 10 outlines essential documentation needed, like legal documents and financial statements, for participation in Federal Reserve Programs.

Understanding the Bank Term Funding Program: A Lifeline for Failing Banks Explained in Simple Terms

The Tweetsift Report • 0 implied HN points • 13 Mar 23
💰 Finance Banking
  1. The Bank Term Funding Program helps failing banks by allowing them to borrow from Federal Reserve using securities as collateral.
  2. The program has a fixed interest rate and no fees, with credit protection from the Department of the Treasury.
  3. Federal Reserve supports banks through additional funding, monitoring financial system, and providing safety nets for stability.

The Worries Over Commercial Real Estate

Spilled Coffee • 0 implied HN points • 12 Apr 23
💼 Business Banking
  1. Investors are concerned about the risks in commercial real estate due to factors like refinancing challenges and price declines.
  2. Banks have significant exposure to commercial real estate lending, which may impact their financial health and ability to lend to small businesses.
  3. Factors like remote work, vacancies, and lending crunches are contributing to a potentially challenging outlook for commercial real estate and small businesses.

Metacritic digest #2 - Upgrading OpenAI to neutral

Metacritic Capital • 0 implied HN points • 16 Apr 23
🕹 Technology Banking
  1. Foundational AI companies like OpenAI focus on creating and selling general models, akin to the semiconductor industry's approach.
  2. Understanding the importance of hurdle rates in financial investment can impact long-term stock performance.
  3. Managers need to set the example and show commitment to their teams for effective leadership, especially during times of crisis.
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More Between the Lines

American Samizdat • 0 implied HN points • 29 May 23
💰 Finance Banking
  1. The post discusses David Carson's thoughts and writings.
  2. Issues about finance and banking are mentioned in a critical manner.
  3. There is some content on the topic of perpetual war and profit.

Bidenomics, AI money, problems for bankers

Myriad Perspectives • 0 implied HN points • 02 Jul 23
💰 Finance Banking
  1. The White House is promoting a new economic strategy called 'Bidenomics'
  2. Generative AI startups are receiving significant investments, with companies like Databricks and Inflection AI raising billions
  3. Major banks like Bank of America and JPMorgan are facing challenges, with Bank of America trailing behind due to bond investments made during the pandemic

UBS to cut more than half of Credit Suisse workforce; How does B2B fintech pricing evolve?; Goldman in talks to offload Apple credit card, savings products to American Express;

Fintech Wrap Up • 0 implied HN points • 05 Jul 23
💼 Business Banking
  1. UBS plans to cut over half of Credit Suisse workforce due to a takeover.
  2. Visa acquires Brazilian fintech Pismo in a $1B deal with notable clients like Citi and N26.
  3. Goldman Sachs considers moving Apple credit card and savings products to American Express after losses.

Trade Alert 1/8/24

Business Breakdowns • 0 implied HN points • 09 Jan 24
💰 Finance Banking
  1. The company Nu Holdings has shown remarkable growth, appealing to an underbanked market.
  2. Nubank's strong moat is based on being a low-cost producer, driving customer satisfaction.
  3. When considering Nubank's valuation, the potential for growth in revenue and market share projections can offer significant returns over time.

1/17/2024: Schwab Revenue Declined 19% in Q4

depression2022 • 0 implied HN points • 17 Jan 24
💰 Finance Banking
  1. Schwab's revenue declined 19% in Q4, affecting net interest income and bank deposits.
  2. JP Morgan saw a 10% increase in net revenue in Q4, contrasting sharply with Schwab's decline.
  3. Net new assets for Schwab dropped 48% in Q4, possibly influenced by Robinhood's 1% transfer bonus.

130-Year-Old German Bank To Offer Bitcoin Services

Daily Digest • 0 implied HN points • 01 Feb 24
💰 Finance Banking
  1. A 130-year-old German bank partners with a Bitcoin firm, showing growing acceptance of cryptocurrencies in traditional banking.
  2. UK police seize $1.8 billion in Bitcoin as part of an investigation into investment fraud.
  3. Binance launches an inscription marketplace to cater to the increasing interest in digital assets.

Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/LAB/016/027

RegAlert • 0 implied HN points • 03 Feb 24
💰 Finance Banking
  1. Central Bank of Nigeria is updating the Cash Reserve Requirement (CRR) mechanism for banks, with changes like no longer having daily CRR debits and specific ratios for different types of banks.
  2. Commercial banks will have a 32.5% ratio and merchant banks 10% applied to increases in their weekly average adjusted deposits.
  3. Banks not meeting the minimum Loan to Deposit Ratio (LDR) will face a 50% CRR levy on the lending shortfall.

Alert: Central Bank of Nigeria Circular TED/FEM/FPC/GEN/001/003

RegAlert • 0 implied HN points • 01 Feb 24
💰 Finance Banking
  1. The Central Bank of Nigeria has removed the allowable limit of exchange rate quoted by International Money Transfer Operators (IMTOs), allowing them to quote rates based on prevailing market rates.
  2. IMTOs can now quote exchange rates for naira payout to beneficiaries on a willing seller, willing buyer basis, as per the latest circular.
  3. This circular supersedes the previous one which had set an allowable limit of -2.5% to +2.5% around the previous day's closing rate of the Nigerian Foreign Exchange Market.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/002/003

RegAlert • 0 implied HN points • 02 Jan 24
💰 Finance Banking
  1. The Central Bank of Nigeria issued guidelines for Virtual Assets Service Providers (VASPs) to regulate their bank account operations.
  2. These guidelines aim to prevent money laundering and terrorism financing risks associated with VASPs.
  3. Financial institutions are required to comply with the new guidelines immediately.

Alert: Central Bank of Nigeria Circular FMD/DIR/PUB/CIR/001/008

RegAlert • 0 implied HN points • 28 Dec 23
💰 Finance Banking
  1. Financial institutions in Nigeria must submit their financial market transaction signature mandate to the Central Bank of Nigeria's Financial Markets Department, detailing authorized dealers, dealing mandates, transaction limits, and annual review requirements.
  2. The signature mandate should include full names, designations, level of authority, and transaction limits of authorized officers, with any changes promptly communicated. Submissions are due by January 12, 2024.
  3. This circular FMD/DIR/PUB/CIR/001/008 emphasizes the importance of transparency, accountability, and clear communication within financial institutions regarding financial market transactions and authorized officers.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/002/002

RegAlert • 0 implied HN points • 08 Dec 23
💰 Finance Banking
  1. Financial institutions in Nigeria need to collect evidence of registration with SCUML from Non-Profit Organizations before starting a business relationship.
  2. Banks and financial institutions must update their customer account information according to the new requirement.
  3. The Circular FPR/DIR/PUB/CIR/002/002 outlines the additional Know Your Customer requirement for NPOs in Nigeria.

Alert: Central Bank of Nigeria Circular FPR/PRD/CIR/INT/001/003

RegAlert • 0 implied HN points • 07 Dec 23
💰 Finance Banking
  1. Financial institutions in Nigeria must display their corporate names prominently on their websites and online platforms, along with the statement 'Licensed by the Central Bank of Nigeria'.
  2. Compliance with the requirement to display corporate names must be met by January 31, 2024.
  3. The circular FPR/PRD/CIR/INT/001/003 issued by the Central Bank of Nigeria outlines the specific requirements for displaying corporate names online.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/053

RegAlert • 0 implied HN points • 01 Dec 23
💰 Finance Banking
  1. Financial institutions in Nigeria must ensure all Tier-I bank accounts and wallets have a BVN or NIN for individual customers.
  2. The BVN or NIN requirement extends to Tier 2 & 3 accounts and wallets for individual customers.
  3. Opening accounts should involve electronically retrieving BVN or NIN information from relevant databases.

Alert: Central Bank of Nigeria Circular BKS/DIR/CIR/GEN/001/003

RegAlert • 0 implied HN points • 17 Oct 23
💰 Finance Banking
  1. Financial institutions in Nigeria must validate MICR codeline details based on Nigerian Cheque Standards and ensure proper calibration of in-house cheque processing equipment.
  2. Supervision of cheque processing equipment is essential to prevent image and data distortion during the cheque truncation process.
  3. Non-compliance with the circular may lead to penalties for financial institutions.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/010

RegAlert • 0 implied HN points • 06 Oct 23
💰 Finance Banking
  1. The Central Bank of Nigeria has appointed three additional designated banks for the collection of fees under the Nigerian Export Supervision Scheme (NESS). Authorized dealers are instructed to inform their exporting customers about this change.
  2. The appointment of designated banks signifies a shift in the process for collection of fees under the NESS, bringing more clarity and convenience for exporting customers.
  3. This circular, TED/FEM/PUB/FPC/001/010, outlines an important update regarding the collection of fees, emphasizing the need for all involved parties to be informed and compliant with the changes.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/009

RegAlert • 0 implied HN points • 13 Sep 23
💰 Finance Banking
  1. The Central Bank of Nigeria has issued guidelines for International Money Transfer Operators (IMTOs) regarding rate quotes and market conduct. IMTOs must adhere to specific rules related to payment mode, pricing, and rate quotes within a specified range.
  2. Failure to comply with the guidelines may lead to sanctions such as selling proceeds to the Central Bank, suspension of operations, and even loss of operating license.
  3. IMTOs should take note of the circular TED/FEM/PUB/FPC/001/009 and ensure they are in compliance with the regulations set by the Central Bank of Nigeria to avoid potential repercussions.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/006

RegAlert • 0 implied HN points • 10 Aug 23
💰 Finance Banking
  1. Financial institutions in Nigeria must offer a payout option in Naira for diaspora remittances within specific rate limits.
  2. The allowable limit for the payout option is set at -2.5% to +2.5% of the previous day's Investors' and Exporters' Window average rate.
  3. All banks and International Money Transfer Operators are required to comply with these rate limits for diaspora remittances in Nigeria.

Alert: Central Bank of Nigeria Circular BKS/SCO/CON/001/002

RegAlert • 0 implied HN points • 10 Aug 23
💼 Business Banking
  1. Financial institutions in Nigeria must adhere to Cheque Printers accreditation for an efficient Payment and Settlement System.
  2. Accredited Cheque Printers and Personalisers in Nigeria have been issued certificates as notified.
  3. Central Bank of Nigeria Circular BKS/SCO/CON/001/002 pertains to the accreditation of Cheque Printers in Nigeria.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/049

RegAlert • 0 implied HN points • 31 Jul 23
💰 Finance Banking
  1. Microfinance banks and primary mortgage banks in Nigeria are exempted from paying processing fees for withdrawals above cash withdrawal limits from correspondent banks.
  2. The exemption is meant to support these banks in providing specialized retail banking services to the economically active poor.
  3. While exempt from processing fees, these banks still need to comply with the cash withdrawal limits set in an earlier circular by the Central Bank of Nigeria.

Alert: Central Bank of Nigeria Circular TED/PFO/CON/INT/007/032

RegAlert • 0 implied HN points • 12 Jul 23
💰 Finance Banking
  1. Financial institutions in Nigeria must offer Naira as a payout option for diaspora remittances along with USD and eNaira.
  2. International Money Transfer Operators should pay out using the Investors' & Exporters Window rate on the day of the transaction.
  3. The regulation for payout options for diaspora remittances in Nigeria is effective immediately.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/039

RegAlert • 0 implied HN points • 27 Jun 23
💰 Finance Banking
  1. The Central Bank of Nigeria issued guidelines for contactless payments in the country, aiming to standardize operations and promote innovation while ensuring financial system stability.
  2. Banks, financial institutions, and payment service providers are required to adhere to these guidelines, implement risk management processes, and maintain relevant standards for contactless payments.
  3. Participants in contactless payments in Nigeria must download and adhere to Circular PSM/DIR/PUB/CIR/001/039 available on the Central Bank of Nigeria's website.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/048

RegAlert • 0 implied HN points • 27 Jun 23
💰 Finance Banking
  1. The Central Bank of Nigeria has issued a circular regarding transaction limits on contactless payments, requiring adherence from financial institutions and payment service providers.
  2. Transactions exceeding the specified limits on contactless payments will need verification and authorization.
  3. Higher-value contactless payments must meet existing KYC requirements and limits on electronic payment channels, while transactions above the daily cumulative limit should use contact-based technology.

Alert: Central Bank of Nigeria Circular BSD/DIR/GEN/LAB/09/048

RegAlert • 0 implied HN points • 14 Jun 23
💰 Finance Banking
  1. Financial institutions in Nigeria must follow liquidity coverage ratio guidelines to ensure they have enough liquid assets for a 30-day stress scenario.
  2. These institutions need to maintain a level of high-quality liquid assets and report their liquidity coverage ratio to the regulatory body quarterly.
  3. The Circular BSD/DIR/GEN/LAB/09/048 outlines the Exposure Draft of Guidelines on Liquidity Coverage Ratio for Non-Interest Banks in Nigeria.

Alert: Central Bank of Nigeria Circular BSD/DIR/GEN/LAB/09/048

RegAlert • 0 implied HN points • 14 Jun 23
💰 Finance Banking
  1. The Central Bank of Nigeria has issued a revised guideline on regulatory capital for non-interest banks in Nigeria.
  2. Financial institutions in Nigeria are required to adhere to the updated capital requirements outlined in the guidelines.
  3. The Exposure Draft of the Revised Guidelines on Regulatory Capital for Non-Interest Banks in Nigeria is available for download on the CBN website.

Alert: Central Bank of Nigeria Circular BSD/DIR/GEN/LAB/09/048

RegAlert • 0 implied HN points • 13 Jun 23
💰 Finance Banking
  1. The Central Bank of Nigeria has issued a circular regarding Exposure Draft of the Guidelines on Liquidity Coverage Ratio and Revised Guidelines on Regulatory Capital for Non Interest Banks in Nigeria.
  2. The circular provides important regulatory information for non-interest banks and other financial institutions in Nigeria.
  3. This update was posted on June 13, 2023, on the regulatory alerts platform.

Alert: Central Bank of Nigeria Circular BKS/DIR/CIR/GEN/001/001

RegAlert • 0 implied HN points • 09 Jun 23
💰 Finance Banking
  1. Financial institutions in Nigeria must stop using old cheques and follow the new Nigeria Cheque Standards 2.0 by December 31, 2023, or face penalties.
  2. The change is due to the Revised Nigeria Cheque Standard (NCS) and Nigeria Cheque Printers Accreditation Scheme (NICPAS) 2.0 to ensure compliance and uniformity.
  3. Instructions are provided for financial institutions to download and implement Circular BKS/DIR/CIR/GEN/001/001 from the Central Bank of Nigeria website.

Alert: Central Bank of Nigeria Circular OFI/DOA/CON/OFI/005/114

RegAlert • 0 implied HN points • 23 May 23
💰 Finance Banking
  1. A circular from the Central Bank of Nigeria has requested financial institutions to revoke the operating licenses of certain microfinance banks.
  2. The circular is identified as OFI/DOA/CON/OFI/005/114 and was issued on May 23, 2023.
  3. The full circular can be downloaded from the official website of the Central Bank of Nigeria.

Alert: Central Bank of Nigeria Circular BKSD/SCO/CON/001/039

RegAlert • 0 implied HN points • 19 May 23
💰 Finance Banking
  1. The Central Bank of Nigeria has conducted re-accreditation for Cheque Printers and Personalizers, with listed financial institutions holding valid accreditation licenses.
  2. All accredited printers and personalizers were notified and issued certificates as of May 4th, 2023.
  3. For more details and the full list, you can download Circular BKSD/SCO/CON/001/039 from the CBN website.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/073

RegAlert • 0 implied HN points • 05 May 23
💰 Finance Banking
  1. All banks and financial institutions in Nigeria must follow the guidelines for the Regulation of Representative Offices of Foreign Banks.
  2. The guidelines aim to ensure understanding of regulatory requirements for foreign bank offices in Nigeria.
  3. This directive aligns with the Banks and Other Financial Institutions Act 2020.