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


Are Fintech Stocks Overpriced?

Barrons 20 Jul 2019
Total System and Global Payments (GPN) announced a merger in May that valued Total System’s stock at a 20% premium to its price before news of negotiations was reported ... As a result of that potential scenario, investors have never prized owning the complex, highly regulated pipes of the global financial system quite as much as they do now....

The Woman at the Center of Trump’s Iran Policy

The Atlantic 20 Jul 2019
That’s where all the drama is, but in fact most of America’s punitive actions against Iran are taking place in a world not physical but financial ... Beginning around 2006, Treasury officials including Levey focused on finding ways to cut off Iran from the global financial system....

$14.66 Billion Student Information System Market - Global Outlook Report 2017-2026 -

The Marshall News Messenger 19 Jul 2019
The "Student Information System - Global Market Outlook (2017-2026)" report has been added to's offering. Global Student Information System market accounted for $4.37 billion in 2017 and is expected to reach $14.66 billion by 2026 growing at a CAGR of 14.4 during the forecast period....

News Analysis: U.S. government pressures on pending Libra to mount: analysts 19 Jul 2019
and global financial system by Libra, and second ... "I'm concerned that a 2020 launch date demonstrates deep insensitivities around how Libra could impact our national security, the global financial system, the privacy of people across the globe, criminal activity, and international human rights," said Wagner....

Facebook's Libra Can Become West's New Tool for Political Pressure - Chainside Co-Founder

Sputnik 19 Jul 2019
GENOA, (Sputnik), Anastasia Levchenko - One month ago, Facebook shocked economists and politicians around the world by announcing its plan to launch a digital currency in 2020. Its ambitious goal is to enable people who "remain outside of the traditional financial system" and have no access to a traditional bank to use a "simple global currency" ......

What lies behind the success of AIIB

China Daily 19 Jul 2019
Meticulous planning, constructive efforts and visionary leadership are needed to make a development bank successful in today's turbulent global financial market ... And through the AIIB, China has been promoting constructive reforms in the global financial system and development institutions, without having any intention to replace them....

Recode Daily: RIP Instagram influencers?

Vox 19 Jul 2019
[ Shirin Ghaffary and Rani Molla / Recode ] We still don’t know how or what “libra” will do to change the global financial system ... Facebook aside, “Big Tech is coming for financial services.” Thanks to their network effects, companies like Google, Amazon, and Facebook have the potential to dominate the financial services sector....

In Crisis of Democracy, We All Must Become Julian Assange

CounterPunch 19 Jul 2019
While this multi-award winning journalist, who has revealed the governments’ war crimes, suffers in jail, the British government that has been a key player of this political persecution recently held a Global Conference for ... WikiLeaks revelation, coupled with the 2008 financial meltdown, triggered the global crisis of legitimacy....

State Street Reports Second-Quarter 2019 EPS of $1.42 Per Share; $1.45 Per Share Excluding Notable Items(a)

The Marshall News Messenger 19 Jul 2019
In addition, our regulatory posture and related expenses have been and will continue to be affected by heightened standards and changes in regulatory expectations for global systemically important financial institutions applicable to, among other things, risk management, ......

China's economic slowdown is real, but it's not just about tariffs

CNN 19 Jul 2019
China has been struggling for years to rein in high levels of debt, arising from a massive stimulus package launched during the 2008 financial crisis ... The Chinese government has reacted by tightening regulations in the financial system, scaling back bank lending, and clamping down on unregulated lending, also known as shadow banking....

Venezuela lider asks U.S. judge to end Maduro bid to appoint PDVSA board

Petroleum World 19 Jul 2019
Venezuela's opposition leader and legitimate president Juan Guaido. By Jef Feeley / Bloomberg. WILLMINTON, Delaware. Petroleumworld 07 19 2019 ... refiners, Citgo Petroleum Corp ... Since U.S ... PDVSA counts on Citgo's U.S ... U.S. sanctions against Maduro's authoritarian regime have largely isolated Venezuela from the global financial system and hampered financing....

Libra launch won't happen until regulators are happy -Coeure

Canada Dot Com 18 Jul 2019
Benoit Coeure, the European Central Bank board member who chairs an international working group on Libra, said Facebook’s global reach meant the cryptocurrency had to be safe “from day one” for its users, the financial system and authorities fighting crime....

G-7 calls for "highest standards"of regulation on Libra

Kyodo 18 Jul 2019
Regulators, lawmakers and central bankers have been scrutinizing the project, with critics saying it could affect the global financial system and undermine traditional roles of governments such as issuing currency ... and the functioning of the international monetary system....