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Deutsche Bank warns of a growing trend of dedollarization among US allies, driven by geopolitical tensions and financial sanctions. Countries like China and Russia are increasingly opting for alternative currencies, signaling a potential shift towards a multipolar financial system and diminishing the dollar's dominance in global trade and reserves. This evolution could lead to greater exchange rate volatility and a redefined international monetary landscape.
UniCredit's $15.19 billion bid for Banco BPM has received approval from the European Central Bank (ECB). This significant move marks a pivotal moment in the banking sector, reflecting ongoing consolidation efforts within the industry.
The Swiss Financial Market Supervisory Authority (FINMA) faces criticism for its handling of the Credit Suisse (CS) crisis, with a parliamentary inquiry revealing that CS management largely bears the blame for its risky strategies and scandals. Politicians are calling for increased regulation and capital requirements for UBS, which has taken over CS, amid concerns that the bank's high executive salaries and bonuses could lead to similar failures. The debate highlights the tension between maintaining a competitive banking environment and ensuring adequate oversight to prevent future crises.
Two years after the collapse of Credit Suisse and its takeover by UBS, discussions are intensifying regarding the need for stricter regulations on systemically important banks. The Federal Council's announcement on March 19, 2023, has reignited calls for enhanced financial market supervision and oversight of banking practices.
Germany is set to receive a significant €1 trillion boost, a move that has raised concerns from Deutsche Bank. The financial institution has issued warnings regarding the potential implications of this substantial financial influx.
The UAE is set to launch its digital dirham in the fourth quarter of 2025. This initiative marks a significant step towards modernizing the country's financial landscape and enhancing digital transactions. The rollout is anticipated to transform the way citizens and businesses engage with currency.
The Central Bank of the UAE has introduced a new symbol for the dirham, inspired by the letter "D" and reflecting national pride, alongside the launch of a digital dirham built on blockchain technology. This initiative aims to enhance financial stability, promote inclusion, and drive innovation in the financial sector, with the digital currency recognized as a universal payment method. The digital dirham will be accessible through licensed financial institutions, facilitating a seamless experience for both digital and traditional transactions.
George Saravelos, head of foreign exchange research at Deutsche Bank, warned that the U.S. dollar's status as a reserve currency faces significant risk if the Federal Reserve withdraws its currency swap arrangements. He highlighted that even without action from the Fed, doubts about these arrangements could drive global de-dollarization, marking a critical moment since World War II.
Warren Buffett and Li Ka-shing, two of the most esteemed investors globally, are currently hoarding cash as they approach their 90s. Buffett's Berkshire Hathaway Inc. is entering 2025 with a record cash pile of $334 billion, representing 29% of its total assets, raising speculation about a potential financial downturn.
UBS shares fell by 4.0% to CHF 28.35 in afternoon trading, marking a low of CHF 27.88 for the day. The stock, which opened at CHF 28.35, has a 52-week high of CHF 32.88 and a low of CHF 22.53. Analysts predict an EPS of USD 2.11 for 2025, with a dividend expected to rise to USD 0.981.
Central Banks and Digital Currencies
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dollar dominance faces challenges as nations pursue dedollarization strategies
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