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.
South Korea’s top financial watchdog attempted to revive optimism over the nation’s corporate reform initiatives to investors in New York while soothing concerns over the short-selling ban.
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.
Dec 3, 2019
The Canadian Press
TORONTO - A group is seeking to appeal a November ruling that upheld the City of Toronto's rules for the Airbnb-type rentals.
The appellants, which include several commercial operators of numerous short-term rentals, argue there were legal errors in the decision by the Local Planning Appeal Tribunal that could lead to an overturn of the ruling or a rehearing.
Jason Cherniak, the lawyer representing the appellants, says the tribunal should have considered whether the rules would actually improve housing affordability and, if they don't, the rental types should be allowed.
In his ruling, Local Planning Appeal Tribunal member Scott Tousaw said the exact number of units involved is in dispute but it's clear that each short-term rental displaces a permanent household and that the rules represent a "reasonable balancing" between the need for housing and support for business and tourism.
Fairbnb Canada, which is in favour of the city's rules and claims they could return some 5,000 housing units to the long-term market, says the latest legal challenge is "another desperate attempt to legalize ghost hotels."
Toronto's rules on short-term rentals like Airbnb only allow the rental of a homeowner's primary residence, either in extra rooms or the entire home, for up to 180 nights per year.