This blog is based on Chapter 3 of the IMF's April 2024 Global Financial Stability Report | Cyberattacks have more than doubled since the pandemic. While companies have historically suffered relatively modest direct losses from cyberattacks, some have experienced a much heavier toll. US credit reporting agency Equifax, for example, paid more than $1 billion in penalties after a major data breach in 2017 that affected about 150 million consumers. As we show in a chapter of the April 2024 Global Financial...

Read more

With Up to $6.6 Billion in Proposed CHIPS Direct Funding, TSMC Announces 2 Nanometer Technology at Second Fab and a New Third Fab to Produce 2 Nanometer or More Advanced Chips. Proposed CHIPS Investment in Arizona Would Support AI, High-Performance Computing, 5G/6G Communications, and More Applications. On April 8th, the Biden-Harris Administration announced that the U.S. Department of Commerce and TSMC Arizona Corporation (TSMC Arizona), a subsidiary of Taiwan Semiconductor Manufacturing Company Limited (TSMC), have signed a non-binding preliminary memorandum...

Read more

Blog post by Charles Cohen, Caio Ferreira, Fabio Natalucci, Nobuyasu Sugimoto |  The private credit market, in which specialized non-bank financial institutions such as investment funds lend to corporate borrowers, topped $2.1 trillion globally last year in assets and committed capital. About three-quarters of this was in the United States, where its market share is nearing that of syndicated loans and high-yield bonds. This market emerged about three decades ago as a financing source for companies too large or risky for commercial banks...

Read more