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Global Stem Cells Market to Reach $19.1 Billion by 2030

Global Stem Cells Market to Reach $19.1 Billion by 2030
PR Newswire
NEW YORK, March 14, 2023

NEW YORK, March 14, 2023 /PRNewswire/ — The global economy is at a critical crossroads with a number of interlocking challenges and crises running in para…

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Global Stem Cells Market to Reach $19.1 Billion by 2030

PR Newswire

NEW YORK, March 14, 2023

NEW YORK, March 14, 2023 /PRNewswire/ -- The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Read the full report: https://www.reportlinker.com/p02043289/?utm_source=PRN

Global Stem Cells Market to Reach $19.1 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Stem Cells estimated at US$10.7 Billion in the year 2022, is projected to reach a revised size of US$19.1 Billion by 2030, growing at aCAGR of 7.4% over the period 2022-2030. Adult Stem Cells, one of the segments analyzed in the report, is projected to record 7.2% CAGR and reach US$16 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Other Product Types segment is readjusted to a revised 8.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.2 Billion, While China is Forecast to Grow at 6.8% CAGR

The Stem Cells market in the U.S. is estimated at US$3.2 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6% CAGR.

Select Competitors (Total 233 Featured)

- apceth Biopharma GmbH

- Athersys Inc.

- AVIVA BioSciences Corporation

- BioE Inc.

- Bone Therapeutics SA

- Cesca Therapeutics Inc.

- Cryo-Cell International Inc.

- Cytori Therapeutics Inc.

- ESI BIO

- Gamida Cell Ltd.

- Holostem Terapie Avanzate

- International Stem Cell Corp.

- Kangstem Biotech. Ltd.

- Lonza Group Ltd.

- Mesoblast Ltd.

- Neuralstem Inc.

- Nuvasive Inc.

- OncoMed Pharmaceuticals Inc.

- Osiris Therapeutics Inc.

- Promethera Biosciences S.A.N.V

- Reliance Life Sciences

- ReNeuron Group Plc.

- Stemcell Technologies Inc.

- Stemedica Cell Technologies Inc.

- Stempeutics Research Pvt. Ltd.

- Takara Bio USA Inc.

- TiGenix NV

- U.S Stem Cell Inc.

- ViaCord

Read the full report: https://www.reportlinker.com/p02043289/?utm_source=PRN

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights

World Market Trajectories

Impact of Covid-19 and a Looming Global Recession

Stem Cells - Offering Potential for Breakthrough Therapeutic

Discoveries

Recent Market Activity

Select Approved Stem Cell Products

Stem Cells Bypass Use of Animal Models in Drug Discovery Programs

Trends Related to Stem Cell Clinical Trials

Select Stem Cell Pipeline Analysis

Current & Future Analysis

Stem Cell Research Funding Policies across the World

Japan and US - Pioneering Induced Pluripotent Stem Cell (iPSC)

Research

Adult Stem Cells Deemed More Ethical, More Research Needed to

Increase Clinical Applications

Dental Mesenchymal Stem Cells - Emergence of a Niche Market

For-Profit, Unregulated Clinics: The Flipside of Stem Cell

Research

Unproven Therapies Do Online Rounds as Effective Treatment

Options - A Cause of Concern

Stem Cells - Global Key Competitors Percentage Market Share in

2022 (E)

Competitive Market Presence - Strong/Active/Niche/Trivial for

Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

Athersys, Inc. (USA)

Apceth GmbH & Co.KG (Germany)

AVIVA BioSciences Corporation (USA)

BioE, Inc. (USA)

Bone Therapeutics SA (Belgium)

Cesca Therapeutics, Inc. (USA)

Cryo-Cell International, Inc. (USA)

Cytori Therapeutics, Inc. (USA)

ESI BIO, a Division of BioTime Inc. (USA)

Gamida Cell Ltd. (Israel)

Holostem Terapie Avanzate (Italy)

International Stem Cell Corporation (USA)

Kangstem Biotech., Ltd. (Korea)

Lonza Group Ltd (Switzerland)

Mesoblast Ltd. (Australia)

Neuralstem, Inc. (USA)

Nuvasive, Inc. (USA)

Osiris Therapeutics, Inc. (USA)

OncoMed Pharmaceuticals, Inc (USA)

PROMETHERA Biosciences S.A.N.V (Belgium)

Reliance Life Sciences (India)

ReNeuron Group Plc. (UK)

STEMCELL Technologies, Inc. (Canada)

Stemedica Cell Technologies, Inc (USA)

Stempeutics Research Pvt. Ltd. (India)

Takara Bio USA Inc (USA)

TiGenix NV (Belgium)

U.S Stem Cell, Inc. (USA)

ViaCord, LLC (USA)

3. MARKET TRENDS & DRIVERS

Researchers at UCLA Successfully Develop 3D Lung Organoids

using Stem Cells

Embryonic Stem Cell Gene Nanog Found to Reverse Aging

Canadian and Dutch Scientists Finds the ?Genetic Switch? to

Increase Stem Cell Volume from Cord Blood

The Boston Program Pioneers Cell-based Personalized Diabetes

Treatment

iPSCs Provide Valuable Source for Retinal Transplants and Other

Applications

Albumin-Free Culture of Pluripotent Stem Cells Enables

Application in Cardiac Disorders

Stem Cell Therapy - An Alternative to Orthopedic Surgery in

Younger Patients?

Application of Plant Stem Cells in Cosmetic Treatments - Myths

Busted

Adverse Reactions of Stem Cell-Face Lift Therapy

Stem Cell-Breast Enhancement

Other Innovations Using Stem Cells

New Stem Cell Software & Products

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Recent Past, Current & Future Analysis for Stem

Cells by Geographic Region - USA, Canada, Japan, China, Europe,

Asia-Pacific and Rest of World Markets - Independent Analysis

of Annual Sales in US$ Million for Years 2022 through 2030 and

% CAGR

Table 2: World 8-Year Perspective for Stem Cells by Geographic

Region - Percentage Breakdown of Value Sales for USA, Canada,

Japan, China, Europe, Asia-Pacific and Rest of World Markets

for Years 2023 & 2030

Table 3: World Recent Past, Current & Future Analysis for Adult

Stem Cells by Geographic Region - USA, Canada, Japan, China,

Europe, Asia-Pacific and Rest of World Markets - Independent

Analysis of Annual Sales in US$ Million for Years 2022 through

2030 and % CAGR

Table 4: World 8-Year Perspective for Adult Stem Cells by

Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World for Years 2023 & 2030

Table 5: World Recent Past, Current & Future Analysis for Other

Product Types by Geographic Region - USA, Canada, Japan, China,

Europe, Asia-Pacific and Rest of World Markets - Independent

Analysis of Annual Sales in US$ Million for Years 2022 through

2030 and % CAGR

Table 6: World 8-Year Perspective for Other Product Types by

Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World for Years 2023 & 2030

Table 7: World Recent Past, Current & Future Analysis for

Regenerative Medicine by Geographic Region - USA, Canada,

Japan, China, Europe, Asia-Pacific and Rest of World Markets -

Independent Analysis of Annual Sales in US$ Million for Years

2022 through 2030 and % CAGR

Table 8: World 8-Year Perspective for Regenerative Medicine by

Geographic Region - Percentage Breakdown of Value Sales for

USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of

World for Years 2023 & 2030

Table 9: World Recent Past, Current & Future Analysis for Drug

Discovery & Development by Geographic Region - USA, Canada,

Japan, China, Europe, Asia-Pacific and Rest of World Markets -

Independent Analysis of Annual Sales in US$ Million for Years

2022 through 2030 and % CAGR

Table 10: World 8-Year Perspective for Drug Discovery &

Development by Geographic Region - Percentage Breakdown of

Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific

and Rest of World for Years 2023 & 2030

Table 11: World Stem Cells Market Analysis of Annual Sales in

US$ Million for Years 2014 through 2030

III. MARKET ANALYSIS

UNITED STATES

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in the United States for 2023 (E)

Table 12: USA Recent Past, Current & Future Analysis for Stem

Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 13: USA 8-Year Perspective for Stem Cells by Product Type -

Percentage Breakdown of Value Sales for Adult Stem Cells and

Other Product Types for the Years 2023 & 2030

Table 14: USA Recent Past, Current & Future Analysis for Stem

Cells by Application - Regenerative Medicine and Drug Discovery &

Development - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 15: USA 8-Year Perspective for Stem Cells by Application -

Percentage Breakdown of Value Sales for Regenerative Medicine

and Drug Discovery & Development for the Years 2023 & 2030

CANADA

Table 16: Canada Recent Past, Current & Future Analysis for

Stem Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 17: Canada 8-Year Perspective for Stem Cells by Product

Type - Percentage Breakdown of Value Sales for Adult Stem Cells

and Other Product Types for the Years 2023 & 2030

Table 18: Canada Recent Past, Current & Future Analysis for

Stem Cells by Application - Regenerative Medicine and Drug

Discovery & Development - Independent Analysis of Annual Sales

in US$ Million for the Years 2022 through 2030 and % CAGR

Table 19: Canada 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

JAPAN

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in Japan for 2023 (E)

Table 20: Japan Recent Past, Current & Future Analysis for Stem

Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 21: Japan 8-Year Perspective for Stem Cells by Product

Type - Percentage Breakdown of Value Sales for Adult Stem Cells

and Other Product Types for the Years 2023 & 2030

Table 22: Japan Recent Past, Current & Future Analysis for Stem

Cells by Application - Regenerative Medicine and Drug Discovery &

Development - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 23: Japan 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

CHINA

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in China for 2023 (E)

Table 24: China Recent Past, Current & Future Analysis for Stem

Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 25: China 8-Year Perspective for Stem Cells by Product

Type - Percentage Breakdown of Value Sales for Adult Stem Cells

and Other Product Types for the Years 2023 & 2030

Table 26: China Recent Past, Current & Future Analysis for Stem

Cells by Application - Regenerative Medicine and Drug Discovery &

Development - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 27: China 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

EUROPE

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in Europe for 2023 (E)

Table 28: Europe Recent Past, Current & Future Analysis for

Stem Cells by Geographic Region - France, Germany, Italy, UK

and Rest of Europe Markets - Independent Analysis of Annual

Sales in US$ Million for Years 2022 through 2030 and % CAGR

Table 29: Europe 8-Year Perspective for Stem Cells by

Geographic Region - Percentage Breakdown of Value Sales for

France, Germany, Italy, UK and Rest of Europe Markets for Years

2023 & 2030

Table 30: Europe Recent Past, Current & Future Analysis for

Stem Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 31: Europe 8-Year Perspective for Stem Cells by Product

Type - Percentage Breakdown of Value Sales for Adult Stem Cells

and Other Product Types for the Years 2023 & 2030

Table 32: Europe Recent Past, Current & Future Analysis for

Stem Cells by Application - Regenerative Medicine and Drug

Discovery & Development - Independent Analysis of Annual Sales

in US$ Million for the Years 2022 through 2030 and % CAGR

Table 33: Europe 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

FRANCE

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in France for 2023 (E)

Table 34: France Recent Past, Current & Future Analysis for

Stem Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 35: France 8-Year Perspective for Stem Cells by Product

Type - Percentage Breakdown of Value Sales for Adult Stem Cells

and Other Product Types for the Years 2023 & 2030

Table 36: France Recent Past, Current & Future Analysis for

Stem Cells by Application - Regenerative Medicine and Drug

Discovery & Development - Independent Analysis of Annual Sales

in US$ Million for the Years 2022 through 2030 and % CAGR

Table 37: France 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

GERMANY

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in Germany for 2023 (E)

Table 38: Germany Recent Past, Current & Future Analysis for

Stem Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 39: Germany 8-Year Perspective for Stem Cells by Product

Type - Percentage Breakdown of Value Sales for Adult Stem Cells

and Other Product Types for the Years 2023 & 2030

Table 40: Germany Recent Past, Current & Future Analysis for

Stem Cells by Application - Regenerative Medicine and Drug

Discovery & Development - Independent Analysis of Annual Sales

in US$ Million for the Years 2022 through 2030 and % CAGR

Table 41: Germany 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

ITALY

Table 42: Italy Recent Past, Current & Future Analysis for Stem

Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 43: Italy 8-Year Perspective for Stem Cells by Product

Type - Percentage Breakdown of Value Sales for Adult Stem Cells

and Other Product Types for the Years 2023 & 2030

Table 44: Italy Recent Past, Current & Future Analysis for Stem

Cells by Application - Regenerative Medicine and Drug Discovery &

Development - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 45: Italy 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

UNITED KINGDOM

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in the United Kingdom for 2023 (E)

Table 46: UK Recent Past, Current & Future Analysis for Stem

Cells by Product Type - Adult Stem Cells and Other Product

Types - Independent Analysis of Annual Sales in US$ Million for

the Years 2022 through 2030 and % CAGR

Table 47: UK 8-Year Perspective for Stem Cells by Product Type -

Percentage Breakdown of Value Sales for Adult Stem Cells and

Other Product Types for the Years 2023 & 2030

Table 48: UK Recent Past, Current & Future Analysis for Stem

Cells by Application - Regenerative Medicine and Drug Discovery &

Development - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 49: UK 8-Year Perspective for Stem Cells by Application -

Percentage Breakdown of Value Sales for Regenerative Medicine

and Drug Discovery & Development for the Years 2023 & 2030

REST OF EUROPE

Table 50: Rest of Europe Recent Past, Current & Future Analysis

for Stem Cells by Product Type - Adult Stem Cells and Other

Product Types - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 51: Rest of Europe 8-Year Perspective for Stem Cells by

Product Type - Percentage Breakdown of Value Sales for Adult

Stem Cells and Other Product Types for the Years 2023 & 2030

Table 52: Rest of Europe Recent Past, Current & Future Analysis

for Stem Cells by Application - Regenerative Medicine and Drug

Discovery & Development - Independent Analysis of Annual Sales

in US$ Million for the Years 2022 through 2030 and % CAGR

Table 53: Rest of Europe 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

ASIA-PACIFIC

Stem Cells Market Presence - Strong/Active/Niche/Trivial - Key

Competitors in Asia-Pacific for 2023 (E)

Table 54: Asia-Pacific Recent Past, Current & Future Analysis

for Stem Cells by Product Type - Adult Stem Cells and Other

Product Types - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 55: Asia-Pacific 8-Year Perspective for Stem Cells by

Product Type - Percentage Breakdown of Value Sales for Adult

Stem Cells and Other Product Types for the Years 2023 & 2030

Table 56: Asia-Pacific Recent Past, Current & Future Analysis

for Stem Cells by Application - Regenerative Medicine and Drug

Discovery & Development - Independent Analysis of Annual Sales

in US$ Million for the Years 2022 through 2030 and % CAGR

Table 57: Asia-Pacific 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

REST OF WORLD

Table 58: Rest of World Recent Past, Current & Future Analysis

for Stem Cells by Product Type - Adult Stem Cells and Other

Product Types - Independent Analysis of Annual Sales in US$

Million for the Years 2022 through 2030 and % CAGR

Table 59: Rest of World 8-Year Perspective for Stem Cells by

Product Type - Percentage Breakdown of Value Sales for Adult

Stem Cells and Other Product Types for the Years 2023 & 2030

Table 60: Rest of World Recent Past, Current & Future Analysis

for Stem Cells by Application - Regenerative Medicine and Drug

Discovery & Development - Independent Analysis of Annual Sales

in US$ Million for the Years 2022 through 2030 and % CAGR

Table 61: Rest of World 8-Year Perspective for Stem Cells by

Application - Percentage Breakdown of Value Sales for

Regenerative Medicine and Drug Discovery & Development for the

Years 2023 & 2030

IV. COMPETITION

Read the full report: https://www.reportlinker.com/p02043289/?utm_source=PRN

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Australian Banking Association’s cost of living inquiry reveals bank pressure

An analysis of the rising inflation and concurrent collapse of Silicon Valley Bank proved that more than 186 banks in the U.S. are at risk of a similar…

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26 mins ago

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March 20, 2023

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An analysis of the rising inflation and concurrent collapse of Silicon Valley Bank proved that more than 186 banks in the U.S. are at risk of a similar shutdown if depositors decide to withdraw all funds.

The trade association for the Australian banking industry — the Australian Banking Association (ABA) — launched a cost of living inquiry to closely study the impact of the COVID-19 pandemic, global supply chain constraints, geopolitical tensions and more on Australians.

An analysis of the rising inflation and concurrent collapse of three major traditional banks — Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank — recently proved that more than 186 banks in the U.S. are at risk of a similar shutdown if depositors decide to withdraw all funds. The ABA’s inquiry aims to identify ways to ease the cost of living in Australia and the Government’s fiscal policy response.

Consumer price index, percentage change from corresponding quarter in previous year, December 2012 – December 2022. Source: ausbanking.org.au

ABA acknowledged that many Australians would struggle to adjust to a higher cost of living, while it may be easier for some, adding that:

“The ABA notes most customers will manage the higher cost of living and their mortgage commitments by changing their spending patterns, applying their accumulated savings to their higher repayments in anticipation of higher borrowing rates, or refinancing their mortgage.”

One of the most significant pressures for banks was when citizens rolled over from a fixed-rate mortgage to a variable rate. However, ABA urged customers to be proactive and ensure they are getting the best deal for their banking services.

Household savings ratio, December 2014 to December 2022. Source: ausbanking.org.au

Property rent across Australia has also witnessed a steady increase as markets normalized following the end of COVID-19 restrictions. Citizens experiencing financial difficulty can contact their banks and get help, including fees and charges waivers, emergency credit limit increases and deferral of scheduled loan repayments, to name a few.

Related: National Australia Bank makes first-ever cross-border stablecoin transaction

Alongside this attempt to cushion Australians against rising fiat inflation, the Reserve Bank of Australia and the Department of the Treasury have been holding private meetings with executives from Coinbase, with discussions revolving around the future of crypto regulation in Australia.

Cointelegraph confirmed from an RBA spokesperson that Coinbase met with the RBA’s payments policy and financial stability departments in mid-March “as part of the Bank’s ongoing liaison with industry.”

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Fed, central banks enhance ‘swap lines’ to combat banking crisis

Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic.
…

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7 hours ago

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March 19, 2023

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Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic.

The United States Federal Reserve has announced a coordinated effort with five other central banks aimed at keeping the U.S. dollar flowing amid a series of banking blowups in the U.S. and in Europe.

The March 19 announcement from the U.S. Fed comes only a few hours after Swiss-based bank Credit Suisse was bought out by UBS for nearly $2 billion as part of an emergency plan led by Swiss authorities to preserve the country's financial stability.

According to the Federal Reserve Board, a plan to shore up liquidity conditions will be carried out through “swap lines” — an agreement between two central banks to exchange currencies.

Swap lines previously served as an emergency-like action for the Federal Reserve in the 2007-2008 global financial crisis and the 2020 response to the COVID-19 pandemic. Federal Reserve-initiated swap lines are designed to improve liquidity in dollar funding markets during tough economic conditions.

"To improve the swap lines’ effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of seven-day maturity operations from weekly to daily," the Fed said in a statement.

The swap line network will include the Bank of Canada, Bank of England, Bank of Japan, European Central Bank and the Swiss National Bank. It will start on March 20 and continue at least until April 30.

The move also comes amid a negative outlook for the U.S. banking system, with Silvergate Bank and Silicon Valley Bank (SVB) collapsing and the New York District of Financial Services (NYDFS) takeover of Signature Bank.

The Federal Reserve however made no direct reference to the recent banking crisis in its statement. Instead, it explained that they implemented the swap line agreement to strengthen the supply of credit to households and businesses:

“The network of swap lines among these central banks is a set of available standing facilities and serve as an important liquidity backstop to ease strains in global funding markets, thereby helping to mitigate the effects of such strains on the supply of credit to households and businesses.”

The latest announcement from the Fed has sparked a debate about whether the arrangement constitutes quantitative easing.

U.S. economist Danielle DiMartino Booth argued however that the arrangements are unrelated to quantitative easing or inflation and that it does not "loosen" financial conditions:

The Federal Reserve has been working to prevent an escalation of the banking crisis.

Related: Banking crisis: What does it mean for crypto?

Last week, the Federal Reserve set up a $25 billion funding program to ensure banks have sufficient liquidity to cover customer needs amid tough market conditions.

A recent analysis by several economists on the SVB collapse found that up to 186 U.S. banks are at risk of insolvency:

“Even if only half of uninsured depositors decide to withdraw, almost 190 banks are at a potential risk of impairment to insured depositors, with potentially $300 billion of insured deposits at risk.”

Cointelegraph reached out to the Federal Reserve for comment but did not receive an immediate response.

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MGM Shares Surprising Las Vegas Strip News

Two of the resort casino operator’s executives spoke at a recent event where they talked about Las Vegas’s covid comeback.

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2 days ago

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March 18, 2023

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Two of the resort casino operator's executives spoke at a recent event where they talked about Las Vegas's covid comeback.

The Las Vegas Strip suffered during the covid pandemic when lights on the iconic 4.2-mile stretch of road literally went dark due to a government-mandated closure. Recovery, however, has been not exactly a straight line because the lingering impact of the pandemic has been a drag on some key business areas.

The two biggest players on the Strip -- Caesars Entertainment (CZR) - Get Free Report and MGM Resorts International (MGM) - Get Free Report -- have both had to make decisions without being able to use the past as a guide. In most years, for example, you could make a reasonable guess as to how many people might visit the city during a major convention based on how many attendees that show had the past year.

DON'T MISS: Las Vegas Strip Faces a New Post-Pandemic Reality

Covid, however, changed that equation. Some companies have realized that maybe they don't need to spend the money on exhibiting or attending shows while others may have employees reticent to be in crowded spaces.

In addition, some major events -- like CES in 2022 -- saw attendance plummet at the last minute due to a spike in covid numbers. Add in that international travelers and some more-vulnerable populations have continued to be wary of travel and it makes planning a challenge for Caesars and MGM.

All of this has led to low prices for tourists and business travelers -- especially those who booked far in advance. That has been slowly changing, especially for major non-business tourist events like March Madness, the NFL Draft, and November's Formula 1 race (a weekend where Caesars, MGM, and the other Strip operators may break pricing records).

Rising prices and a rebounding convention business don't mean the end of Las Vegas as a value destination for tourists, according to MGM COO Corey Sanders, who spoke at the recent J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum in Las Vegas. 

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MGM Expects a Convention Comeback (Just Not Yet)

Although Las Vegas has largely returned to normal after its covid disruptions, room rates at many Caesars and MGM properties remain below historic norms. That's at least partially because the convention business remained soft in 2022 and not having those huge blocks of rooms booked led to the casino operators generally keeping prices low.

That's expected to continue through 2023, according to Sanders, Casino.org reported.

"With regards to convention, in particular with MGM, we’re going to be down a little bit this year. Some of it is strategic. We have made a decision that on weekends, we’ll put less convention business in our buildings,” he shared.

Fewer rooms booked for conventions generally means lower rates across the Strip.

Sanders said he expected 2023 to be a "decent" year for MGM's Strip convention business, but he believes that 2024 and 2025 will be stronger.

MGM Sees the Value of an Affordable Las Vegas

A convention business bounceback, however, does not mean an end to affordable Las Vegas Strip hotel rooms, according to MGM Senior Vice President Sarah Rogers, who joined Sanders onstage. She made it clear that MGM understands that the Las Vegas Strip must maintain its status as an affordable vacation destination.

“We still offer a relative value. That gap has tightened a little bit,” said Rogers. “Some of those drivers that have allowed us to sustain that are things like continued programming, improved product, and the suite offering that we have. So we’re comfortable that we still offer relative value.”

Sanders also pointed out that "much of the increase in traffic at Harry Reid International Airport in Las Vegas is attributable to economy carriers, meaning the travel costs to get to the U.S. casino hub are, broadly speaking, tolerable for a broad swath of customers," Casino.org's Todd Shriber wrote. 

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