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Mexico: New President Pledges To ‘Fix’ Pemex

Global Finance

Due to our passive position in foreign currency, motivated by our current financing, an exchange loss of 130 billion pesos was recorded, Pemex announced in a financial report. All finances will be concentrated in a single entity: Pemex. Pemexs total sales were 7.7% lower than in third-quarter 2023. The company blamed a 6.8%

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Sovereign Ratings, Default Risk and Markets: The Moody's Downgrade Aftermath!

Musings on Markets

Sovereign Defaults: A History Through time, governments have often been dependent on debt to finance themselves, some in the local currency and much in a foreign currency. However, those defaults, and especially so in recent years, have been supplemented by countries that have chosen to default on local currency borrowings.

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China's Tests Of Digital Yuan Have Processed 4 Million Transactions

PYMNTS

There were rumors initially that the digital currency electronic payment (DCEP) had been used for a real estate transaction, but those rumors were quelled. million) worth of digital currency to 50,000 people chosen by a lottery in the country's first trial run of its cashless payment system.

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US Treasury Tells Banks To Treat Hemp Businesses Like Any Other

PYMNTS

Hemp, a strain of cannabis with lower concentrations of THC, the substance that makes users high, was legalized in 2018. It’s intended to “enhance the availability of financial services and the financial transparency of hemp-related businesses in compliance with federal law,” the notice said.

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Banks Push Back On Possible Banking Charters For Big Techs Like Amazon And Facebook

PYMNTS

The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies.

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Today In Digital-First Banking: China’s Central Bank Tells Ant Group To Concentrate On Payments; China’s Digital Yuan Pilot Wraps Up

PYMNTS

China's Central Bank Tells Ant Group To Concentrate On Payments Business. In today’s top news in digital-first banking, financial regulators in China are moving to check the influence of Jack Ma’s Ant Group, while the second pilot of a digital yuan by the People’s Bank of China has concluded.

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J.P. Morgan: Tech Uncovers New Liquidity Management Opportunities

PYMNTS

Some key tools that emerged as most beneficial to treasurers included physical cash concentration, notional pooling and virtual account solutions. For instance, both cash concentration and notional pooling can enable a treasurer to understand an end-of-day cash position.

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