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Banks tightened margin requirements and haircuts in response to stock market volatility, Fed survey finds

“Overall, the credit officers for a small amount of firms reported an easing in credit terms for their hedge fund clients” writes Senior Economics Reporter for marketwatch.com. The Fed surveyed credit officers from 23 institutions between May 7 and May 23. The firms account for almost all dealer financing of dollar-denominated securities to nondealers and are the most active intermediaries in the OTC derivatives market.The dealers reported no change in the demand for leverage via margin loans or equity derivatives as a result of the volatility. Source: marketwatch.com Share This:

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Brex just secured $57 million and is now launching globally

“US-based corporate credit card provider for startups, Brex, has secured a $57 million funding round from investors including Y Combinator Continuity Fund, Peter Thiel, Max Levchin, Yuri Milner, VC Ribbit Capital, and former Visa CEO, Carl Pascarella” writes Lea Nonninger for businessinsider.com. Brex was founded last year and aims to provide startups with a quick and effective credit card option — it has already attracted 1,000 customers and is now launching globally.This credit card offering will likely be appealing to small businesses.Brex claims that customers can receive a virtual credit…

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I book all my trips with a Chase Sapphire card that covers costly flight delays — doing this has saved me hundreds of dollars

“Basically, treat your credit card like a debit card to avoid falling into debt” writes Insider Picks for businessinsider.com. That’s because, even though I had booked the flight using frequent flyer miles, I paid the taxes and fees — a total of $11.20 — with my Chase Sapphire Reserve credit card. Source: businessinsider.com Share This:

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Square Enters Procurement Payments Space With Handshake

“Payments company Square has made several initiatives in the past to expand its presence in the back-office and B2B payments space” reports pymnts.com. Square’s other initiatives in the back-office include Square Capital, its small business lending unit, as well as a 2015 partnership with B2B inventory and shipping management company Ordoro.Handshake CEO Glen Coates said in a statement, “As more and more B2B payments shift to credit card and more B2B orders migrate online, manufacturers and distributors are looking for ways to combine seamless customer ordering with a modern payment…

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Credit Suisse is hiring old school traders in a surprise move as rest of Wall Street bets on robots

“It’s not that Credit Suisse isn’t making similar investments in electronic trading” writes Dakin Campbell for businessinsider.com. But under Stewart it’s betting that as active managers look to beat benchmarks and volatility picks up, clients will want to take large, concentrated positions in stock markets.”When you go back 20-30 years we would, at Goldman Sachs, have 500 people making markets in stocks, and prices in stocks, every single day,” Solomon said, according to Reuters.Tidjane Thiam, Chief Executive Officer of Credit Suisse, attends the World Economic Forum (WEF) annual meeting in…

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7 top credit cards for Amazon cash back

“Many great cards require a good or great credit score — so you might want to beef up your score before applying. 5 Simple Tips to Skyrocket Your Credit Score Over 800!” writes Newsfeedback Fool Com for aol.com. Here are some of the best credit cards for your consideration: If you shop at Amazon a lot, you’d do well to see if a credit card that pays you cash back for those purchases makes sense for you.There’s a good chance that you do a lot of your shopping at Amazon,…

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BIS wants tighter rules for funds offering credit, fintech

“The macroprudential perspective should be extended to asset management funds to address these concerns,” the BIS said” writes Midwest Communications Inc for 95kqds.com. These funds are known as shadow banks because they also offer credit.But close cooperation was needed between regulators and central banks to deal with risks to the wider financial system, the BIS said.The Financial Stability Board, based at the BIS in Basel, Switzerland, said in March that shadow banking from open-ended bond funds, hedge funds, money market funds and other types of funds rose 7.6 percent to…

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Crypto News 

Mastercard Considers Blockchain a Viable Asset…

“Do you think blockchain technology can help fight credit card fraud?” writes Jp Buntinx for livebitcoinnews.com. In fact, it has become apparent there are quite a few issues Mastercard can solve with this new technology.Utilizing blockchain technology for this specific purpose can yield surprising results.Even though cryptocurrencies remain somewhat controversial, their underlying blockchain technology is very different.For major credit card issues, dealing with payment fraud will be one of the top priorities. Source: livebitcoinnews.com Share This:

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Argentines tighten their belts at World Cup as peso plummets

“If I use the credit card too much, when I receive the letter at the end of the month I’m going to punch the wall.”” writes Midwest Communications Inc for 95kqds.com. MOSCOW (Reuters) – Argentine fans visiting Russia for the soccer World Cup are keeping a wary eye on the sliding value of the peso, with some avoiding credit card spending and cutting back on unnecessary purchases. Source: 95kqds.com Share This:

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