Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

Australian banks to fund government stimulus bill – AFR

Adding push to the fight against the coronavirus (COVID-19)-led economic slowdown, the Aussie policymakers have decided to direct banks towards buying the government debt, as per the Australian Financial Review (AFR) news on early Tuesday morning in Asia.

Key quotes

Banks will be directed by financial regulators to buy up to $240 billion of additional federal and state government debt to normalize emergency bank liquidity, in a regulatory move that will lower government borrowing costs and encourage stimulus spending on infrastructure and other programs.

The primary objective of the yet-to-be-announced shift by the Australian Prudential Regulation Authority (APRA) and Reserve Bank of Australia will be to enhance bank stability in line with international rules so banks continue to withstand periods of financial stress.

The adjustment would help governments, particularly states, fulfil RBA governor Philip Lowe's pleas to seize on ultra-low interest rates to fund job-creating programs such as infrastructure projects.

Bankers have been in discussions with APRA about the looming change that is expected to be unveiled after the October federal budget, when the Commonwealth's debt projection is updated to about $1 trillion, The Australian Financial Review has learnt.

Market implications

Despite being positive to the Australian currency, AUD/USD pays a little heed to the AFR piece while taking rounds to 0.7275/80 by the press time.

China denies retaliating against US journalists, urges sincerity – Global Times

Late-Monday, China’s state-backed media Global Times (GT) shrugged off the US State Department’s allegations that Beijing is putting visa restrictions
Read more Previous

Japan’s Suga: If next prime minister decides to call snap election that should be the case

Japan’s Chief Cabinet Secretary Yoshihide Suga, also a top candidate to replace the Prime Minister (PM) Shizo Abe in September 14 election, crossed wi
Read more Next