AGP Executive Report
Last update: an hour agoStablecoin Rules: US regulators will let crypto exchanges offer interest-like rewards on stablecoin holdings, while issuers remain barred from paying interest directly. The decision rejects banks’ push for a broader ban and keeps deposit competition in focus. Bank Earnings: US lenders reported mixed third-quarter results: CVB Financial’s net income rose to $78.1 million, while FS Bancorp’s fell to $4.9 million. Kuwait’s NBK posted a 3% rise in nine-month profit to KD481.7 million. Nigeria Expansion: JPMorgan has deposited ₦50 billion with Nigeria’s central bank as it moves toward a merchant banking licence, targeted for 2027. Cloud Resilience: A Google Cloud outage disrupted UK banking and payment services; European regulators are seeking answers about the incident. Cybersecurity: SBI is investigating a suspected leak of about 375,000 records found online; its preliminary review identified 3,897 customer records containing personal information.
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