Most Clicked CFA Institute Financial NewsBrief Stories


1. Greece shuts banks, stock market

CFA Institute Financial NewsBrief | Jun 29, 2015

The Greek government has imposed capital controls, including closure of banks and the stock market, after the European Central Bank refused to increase emergency liquidity that has prevented the financial system from collapse. A referendum Sunday will decide whether Greece accepts an offer from international creditors, Prime Minister Alexis Tsipras says. The New York Times (tiered subscription model) (28 Jun.) Kathimerini (Greece) (28 Jun.) EuroNews.com (France) (28 Jun.)


2. Greeks to vote on rescue as default looms

CFA Institute Financial NewsBrief | Jun 30, 2015

Greeks are being encouraged by European leaders to vote yes in a referendum on the rescue of their nation. However, Prime Minister Alexis Tsipras is urging voters to reject the rescue and seek a better deal. European authorities are also telling voters the referendum is a decision on Greece's eurozone membership. Greece has confirmed it will not make a €1.55 billion loan repayment due Tuesday to the International Monetary Fund. Financial Times (tiered subscription model) (30 Jun.) Reuters (29 Jun.) The Wall Street Journal (tiered subscription model) (29 Jun.) MarketWatch (29 Jun.)


3. Central banks have no way to avert next crisis, BIS says

CFA Institute Financial NewsBrief | Jun 29, 2015

Central banks have exhausted options in coping with the financial crisis and have no tools left for the next one, according to the Bank for International Settlements' annual report. Central banks have fallen into a trap by lowering interest rates to create booms, then further reducing rates when booms turn to busts, the BIS says. Bank for International Settlements (6/28) The Telegraph (London) (tiered subscription model) (28 Jun.)


4. Commentary: The illusion of liquidity

CFA Institute Financial NewsBrief | Jun 29, 2015

Concern is growing that asset managers have created the appearance of liquidity in markets that are vulnerable to liquidity disappearing during times of stress, David Oakley writes. Financial Times (tiered subscription model) (28 Jun.)


5. China acts after stock market plunges

CFA Institute Financial NewsBrief | Jun 29, 2015

The Chinese central bank has reduced reserve ratios and interest rates after a sharp stock market downturn. The ratio has been cut 50 basis points for banks serving small businesses, agriculture and rural areas and 300 basis points for finance companies. The interest rate for one-year loans has been lowered 25 basis points, to 4.85%. Xinhuanet.com (China) (27 Jun.) South China Morning Post (Hong Kong) (free registration) (28 Jun.)


6. Key provision of U.S. health care law upheld by Supreme Court

CFA Institute Financial NewsBrief | Jun 26, 2015

The U.S. Supreme Court voted 6-3 to reject the last major legal challenge to the Affordable Care Act, President Barack Obama's signature achievement. If the court had struck down insurance subsidies for health care, 6 million people could have lost coverage. The Washington Post (tiered subscription model) (25 Jun.) Los Angeles Times (tiered subscription model) (25 Jun.) Politico (25 Jun.)


7. Puerto Rico can't pay its debt, governor says

CFA Institute Financial NewsBrief | Jun 29, 2015

Puerto Rican Gov. Alejandro Garcia Padilla said the commonwealth won't be able to pay approximately $72 billion of debt. Government officials were working with creditors of the electric authority to avert a default on a $416 million payment due Wednesday. The New York Times (tiered subscription model) (28 Jun.)


8. BIS: Loose monetary policy masks need for structural reform

CFA Institute Financial NewsBrief | Jun 29, 2015

The Bank for International Settlements said central banks' loose monetary policies are hiding an urgent need for structural reform. A need to keep interest rates at abnormally low levels since the financial crisis reflects much bigger problems. Major challenges include low productivity, excessive debt and risk in the financial system and unbalanced economic expansion, the BIS said. The Guardian (London) (28 Jun.)


9. Trading firms anxious about a minute with 61 seconds

CFA Institute Financial NewsBrief | Jun 29, 2015

Trading computers will face a minute that lasts 61 seconds at midnight Greenwich Mean Time on Tuesday, an adjustment to bring electronic time in sync with slowing of Earth's rotation. This is the first time the adjustment will happen during trading hours since financial markets went electronic. Experts are concerned whether large computers will handle it properly. Financial Times (tiered subscription model) (28 Jun.) Bloomberg (29 Jun.)


10. Obama gains fast-track power to negotiate Pacific trade deal

CFA Institute Financial NewsBrief | Jun 25, 2015

With a favorable 60-38 vote in the Senate, Congress gave President Barack Obama authority to negotiate the Trans-Pacific Partnership trade deal without having to contend with amendments. Obama had to partner with Republicans to overcome objections from Democrats, who fear the deal will cost U.S. jobs. Los Angeles Times (tiered subscription model) (24 Jun.) The Washington Post (tiered subscription model) (24 Jun.) The Globe and Mail (Toronto) (tiered subscription model) (25 Jun.)