The EU will propose new rules requiring big foreign banks to hold extra capital and liquidity. They would affect banks that have been identified as institutions of significance to the global financial system as well as those with assets in two-or-more EU countries of at least 30 billion euros. Source: WSJ
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Spain has discreetly hired ferries to be moored in the Port of Barcelona as temporary housing for possibly thousands of police specially deployed to keep order in rebel Catalonia and help suppress an illegal independence referendum. Source bloomberg
Norway’s sovereign wealth fund hit $1 trillion for the first time on Tuesday, driven higher by climbing stock markets and a weaker U.S. dollar. Source: Bloomberg
Finland, a first-rate place in which to be a mother, has registered the lowest number of newborns in nearly 150 years. The birth rate has been falling steadily since the start of the decade, and there’s little to suggest a reversal in the trend. Source: Bloomberg