Global financial system

The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.

Latest News for: Global financial system


Protest in China's Henan underscore risks bank faces as real estate sector continues to struggle

Beijing News 13 Aug 2022
The Chinese financial system is in a precarious situation, brought on by its "poor capital turnover", liquidity stress, and global and domestic economic slowdown ... After the global financial crisis, smaller banks and financial institutions were found to have a greater influence on the interconnectedness and stability of the Chinese banking sector....

Over 7% Indians owned cryptocurrency in 2021: UN trade body

The Times of India 13 Aug 2022
The G20 finance ministers and central bank governors will receive a report on the regulatory and supervisory aspects of stablecoins and other crypto-assets in October from the Financial Stability Board, an international organization that monitors and makes recommendations regarding the global financial system....

Russia's economy contracts sharply as war and sanctions take hold.

Democratic Underground 13 Aug 2022
... capture the change in the economy since the invasion of Ukraine in February, when Western sanctions shut Russia off from much of the global financial system, and many countries severed trading relationships with Moscow....

Trade viewed as essential on goodwill front

China Daily 13 Aug 2022
Against the backdrop of heightened tensions following the visit by Nancy Pelosi, the speaker of the US House of Representatives, to Taiwan on Aug 2, Gupta added."Longer-term, the global economy, as well as the international monetary and financial system and the international ......

Over 7 pc Indians owned cryptocurrency in 2021: UN trade body

The Siasat Daily 12 Aug 2022
The Financial Stability Board, an international body that monitors and makes recommendations about the global financial system, will report to the G20 finance ministers and central bank governors in October on regulatory and supervisory aspects of stablecoins and other crypto-assets....

Why mortgage rates are fluctuating so much in 2022

Business Insider 12 Aug 2022
Homebuyers signing a mortgage ... Lien Kiefer, an economist at Freddie Mac, told Insider that's because mortgage rates depend largely on inflation as well as economic activity in the US and global financial markets — and right now the outlook looks bleak ... The Treasury market is a key component of US and global financial systems ... .......

UAE banking system is robust, can withstand severe shocks: Central Bank report

Gulf News 11 Aug 2022
The banking system also has a robust payment system that kept pace with rapid digitisation of the financial services sector and withstood cyber resilience tests ... “The global macro-financial outlook, however, could be affected by supply chain disruptions, rising inflationary pressures, and further escalating geopolitical tensions....

Brenmiller Energy Reports First Half 2022 Financial Results and Operational Update

The Joplin Globe 11 Aug 2022
BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, today announced financial results as of and for the six months ended June 30, 2022 and operational updates ... forty-one of Philip Morris’ sites globally....

Rocket Lab Announces Second Quarter 2022 Financial Results and Guidance for Third Quarter 2022

Cadillac News 11 Aug 2022
RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today shared the financial results for its fiscal second quarter of 2022, ended June 30, 2022 ... “We are encouraged by broad-based momentum that continued across our space systems business which comprised 66% of our revenue in the second quarter....

‘Communism in its purest form’: Economists warn of impending ‘digital dollar’ to replace cash

Life Site 11 Aug 2022
“Any future dollar payment system should be designed in a way that is consistent with United States priorities … and democratic values, including privacy protections, and that ensures the global financial system has appropriate transparency, connectivity, and platform and ......

Afghanistan is poorer and hungrier than a year ago

Economist 11 Aug 2022
One year ago Lema had a good life. Armed with a bachelor’s degree in law and political science, the 27-year-old had a steady job in Kabul, Afghanistan’s capital ... Lema has lost her job ... \nThe main problems are financial. The economy collapsed as the West cut off Afghanistan from the global banking system and froze its foreign reserves....

Why the World Needs a Global Digital Bank

Finance Magnates 10 Aug 2022
A CEO who has been at the forefront of this effort explains that fintechs’ dream of global financial ... </p><p class="MsoNormal">Financial inclusion is about connecting people globally so they can benefit from the systems that have been excluding them up till now....

G20 response to the development of crypto-assets activities

The Jakarta Post 10 Aug 2022
Financial authorities from the world’s 20 largest economies ... Although crypto assets remain a small part of the overall assets of the global financial system, the growth of crypto-asset activity is very rapid....

Most Viewed

An unarmed Minuteman III intercontinental ballistic missile was launched from Vandenberg Air Force Base, California
USAF / Senior Airman Kyla Gifford/Releas

US points new-gen missile defense radar at China, Russia

Asiatimes | 12 Aug 2022
Salman Rushdie on the Frontiers of Thought Porto Alegre
Creative Commons / Fronteiras do Pensame

Novelist Salman Rushdie stabbed on lecture stage in New York

Belfast Telegraph | 12 Aug 2022
Former President Donald Trump speaks at a rally on Jan. 15, 2022, in Florence, Ariz. Trump is already declaring himself the 45th and 47th president of the United States. But the quip during a round of golf — captured on shaky cellphone video — belies the growing challenges Trump is confronting.
AP / Ross D. Franklin, File

Biden’s new challenge is FBI’s Trump search

The Hill | 12 Aug 2022
Israel Defense Forces - Female Soldier Votes in Israeli Government Elections
Creative Commons / Israel Defense Forces

Israel warns Russia against election interference - report

The Jerusalem Post | 12 Aug 2022