Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
Sep 14, 2016
The Canadian Press
Vancouver is proposing to tax homeowners by as much as two per cent of assessed value for units that they declare as vacant.
Mayor Gregor Robertson announced new details of the tax ahead of its introduction to city council next week, with the aim to have it in place in 2017.
He says the most conservative estimate of what the tax could generate is $2 million, which will primarily go towards cost recovery to administer the tax.
The purpose of the tax is to encourage owners to rent out their empty homes in an effort to improve Vancouver's vacancy rate, which has hovered near zero for years.
In July, the British Columbia government gave the city the authority to create the tax, which is separate from the province's 15-per-cent tax on foreign purchases of Metro Vancouver real estate.
A study commissioned by the city earlier this year found that as many as 10,800 homes were sitting empty in Vancouver, most of them condominiums.