AGP Executive Report
Last update: 10 minutes agoRate Decisions: The Fed held rates steady, while the Bank of Canada raised its policy rate by 0.25 points to 2.5%. Canada’s major banks lifted prime rates to 4.70%, increasing costs for variable-rate borrowers. Bank Taxes: The UK doubled its bank surcharge to 6% for 15 months to help fund household energy support; Italy also approved higher taxes on banks and insurers. Bank Results: European lenders beat profit forecasts, with Standard Chartered reporting a 27% rise in quarterly pre-tax profit and raising its 2026 outlook. AI and Security: RBC and BMO joined other banks in blocking third-party AI agents from accessing online banking, citing fraud and customer-data risks. Digital Finance: Flutterwave plans to expand from payments into deposits, savings and lending after securing a Nigerian banking licence. DTCC launched a tokenization service with 20 firms, while Ripple received final US approval to establish a national trust bank.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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