Vanguard Natural Resources LLC filed for chapter 11 bankruptcy after reaching the terms of a debt-for-equity swap with its bondholders designed to eliminate $708 million in debt from the company’s books. Source The Wall Street Journal
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In January, Russia increased its gold reserves by 37 metric tons, equivalent to more than a million troy ounces, Vesti.ru reported on Tuesday. As a whole, Russia’s foreign reserves grew by four percent last month, and stood at $393.6 billion on February 10. Source: Sputnik
Bank of Japan Governor Haruhiko Kuroda said Wednesday that pushing rates further into negative territory was off the table, reflecting both his upbeat inflation outlook and his concerns over the contentious policy measure. The BOJ introduced the measure in January 2016, imposing a 0.1% charge on certain yen deposits. Source: MarketWatch
The European Central Bank could consider renewing its offer of free long-term liquidity to lenders though it shouldn’t turn it into a permanent measure, a Governing Council member said. The ECB is scheduled to offer the last of its long-term loans to banks next month. Source: Bloomberg