To the best of its knowledge and belief, Convex Strategies considers the information contained in this website as accurate only as at the date of publication. All information and opinions on this w…| Convex Strategies
What role do central banks play in such philosophical concepts as “the social contract/compact” and the “consent of the governed”? That’s a pretty big rhetorical question, even for us. Central bank…| Convex Strategies
The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.| European Central Bank
For ReleaseWASHINGTON — First Republic Bank, San Francisco, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC is entering into a purchase and assumption agreement with JPMorgan Chase Bank, National Association, Columbus, Ohio, to assume all of the deposits and substantially all of the assets of First Republic Bank.| www.fdic.gov
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1974 was awarded jointly to Gunnar Myrdal and Friedrich August von Hayek "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena"| NobelPrize.org
Last month, in our February 2023 Update, “Sharpe World is Nefarious”, we posed this question: “If a bank loses money in accrual books and can continue to fund the losses with government guaranteed …| Convex Strategies