The Puerto Rican rapper Bad Bunny is one of the biggest stars of the music world. After becoming Spotify’s most-streamed artist for three years in a row – the first and only artist ever to do so – he sold out all 49 dates of his 2024 U.S. tour, netting US$211 million.
Experts predict that egg prices will keep climbing in 2025. Lindsey Nicholson/UCG/Universal Images Group via Getty ImagesThere may be no kitchen table issue in America more critical than the price of food.
So when the price of eggs rose over 40% from 2024 to 2025, it became a headline news story in Colorado and across the nation.
The Bank of England (the Bank) has today launched the 2025 Bank Capital Stress Test for the seven largest and most systemic UK banks and building societies.
We examine whether loan portfolio sectoral specialization provides informational advantages to banks, enabling better credit risk assessment. Using euro area credit register data, we compare probabilities of default assigned by specialized and non-specialized banks to the same borrowing firm several quarters before the borrower defaults. We find that banks specialized in the borrower’s sector are better in predicting future defaults. This is mostly driven by specialized banks actively raising probabilities of default earlier, not by higher probabilities of default when loans are issued.
We examine whether loan portfolio sectoral specialization provides informational advantages to banks, enabling better credit risk assessment. Using euro area credit register data, we compare probabilities of default assigned by specialized and non-specialized banks to the same borrowing firm several quarters before the borrower defaults. We find that banks specialized in the borrower’s sector are better in predicting future defaults. This is mostly driven by specialized banks actively raising probabilities of default earlier, not by higher probabilities of default when loans are issued.
This paper presents the estimation method used to break down the euro area portfolio investment liabilities in the international investment position (i.i.p.) and their corresponding income debits in the balance of payments (b.o.p.), by main geographical counterpart. Identifying non-resident investors in euro area portfolio investment liabilities (i.e. equity and debt securities issued by euro area residents) is a complex task, as securities are regularly traded in secondary markets and held via custodians and other financial intermediaries.
A movement that wanted to merge North America into one nation and extend its borders as far as the Panama Canal might sound incredibly familiar. But this group, called the “technocracy movement”, was a group of 1930s nonconformists with big ideas about how to rearrange US society.
richardjohnson/ShutterstockThe UK government is calling it the “biggest shakeup to the welfare system in a generation” – prompted by what the prime minister described as the “devastating” cost of sickness and disability benefits.
This Market Notice sets out the schedule for sales in Q2 2025 of gilts held in the Asset Purchase Facility (APF) for monetary policy purposes.
Carol Corrado, Arthur Kennickell, and Tomaz CajnerThis paper was written for the academic conference held in celebration of the 100th anniversary of the Division of Research and Statistics (R&S) of the Federal Reserve Board. The work of the Federal Reserve turns strongly on empirical efforts to understand the structure and state of the economy, and R&S can be thought of as operating a large factory for discovering and developing data and analytical methods to provide evidence relevant to the mission of the Board.
