News Analysis The flow of credit in the Canadian economy is slowing. This is the effect of much higher interest rates—as engineered by the Bank of Canada—but the other component that could amplify the slowdown is more restrictive bank lending due to their lower risk appetites, concerns about clients’ creditworthiness, and regulatory supervision. Oxford Economics…

NEW YORK—Bank of America Corp. created a new group in its global wealth and investment management division to focus on lending to rich clients, the company told Reuters on Monday. Chief Executive Officer Brian Moynihan tapped April Schneider last month to lead the 3,500-person wealth management banking and lending group. She reports jointly to Andy…

WASHINGTON—The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and development banks to give countries borrowing alternatives. Jay Shambaugh is President Joe Biden’s choice for Treasury undersecretary for international affairs. If confirmed, the George Washington University…

WASHINGTON—Sarah Bloom Raskin, President Joe Biden’s pick to lead the Federal Reserve’s regulatory work, plans to tell lawmakers she does not believe the role includes telling banks where they should be lending. In prepared testimony posted by the U.S. Senate Banking Committee on Wednesday ahead of her nomination hearing on Thursday, Raskin said the role…

HONG KONG—The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc if the crypto exchange goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets, Coinbase said on Wednesday. The SEC has issued Coinbase with a Wells notice, an official way it tells a…

Eighteen Republican senators introduced legislation on Wednesday to end lending to China from multilateral development banks, including the World Bank and the Asian Development Bank. The new bill (pdf), S. 2587, would establish that it is U.S. policy to oppose any additional loan, extension, or technical assistance from multilateral development banks to China. Multilateral banks were created to…