The Bank of Japan offered on Tuesday to pump 1.7 trillion yen ($15.8 billion) into the economy under its lending scheme aimed at boosting loans to companies hit by the widening fallout from the coronavirus pandemic.

The New York Stock Exchange (NYSE) is set to reopen its trading floor on Tuesday after a two-month closure due to the coronavirus pandemic, news wires reported. But the exchange is likely to look very different as new rules come into effect, despite the fact that the NYSE is one of the few bourses to still feature floor trade as most others have shifted to fully-electronic trading.

European countries need to join forces to shield their banks from the coronavirus outbreak, one of the bloc’s top regulators said on Monday, potentially using a €500bn ($545bn) EU recovery fund to do so. The remarks from Jose Manuel Campa, who leads the European Banking Authority (EBA), will rekindle a divisive debate about whether rich countries such as Germany should support banks of poorer neighbours such as Italy.

Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors’ risk appetite, though fresh tensions over Hong Kong limited the metal’s fall. Gold is seen as a safe-haven asset during political and economic uncertainties.

Citigroup Inc is launching a new business unit within its corporate and investment bank dedicated to environmental sustainability to strengthen its commitment to an area that has grown increasingly important to corporate clients and investors.

Struggling Japanese conglomerate SoftBank Group on Monday reported record losses, as the coronavirus pandemic compounded woes caused by its investment in troubled office-sharing start-up WeWork. The losses were announced shortly after the firm said Chinese tycoon and Alibaba co-founder Jack Ma would resign as a director of the board next month.

The deadly coronavirus pandemic will cost the global insurance industry about $203 billion, the Lloyd's of London market forecast on Thursday.

The global economy is projected to contract by 3.2% this year, against the backdrop of the devastating coronavirus pandemic, according to a UN report released Wednesday. Marking the sharpest contraction since the great depression in 1930's, the forecast came on top of anaemic economic forecasts of 2.1% at the beginning of this year.

The coronavirus pandemic poses significant risks to the collateralised loan obligations (CLOs) market as the creditworthiness of the debt deteriorates, the European Union’s securities watchdog said on Wednesday. CLOs are securities backed by a pool of loans taken out by companies that have high levels of debt and typically a non-investment grade credit rating.

Turkey’s BDDK bank regulator has lifted a trading ban imposed last week on UBS, Citigroup, and BNP Paribas because they have fulfilled foreign exchange obligations promptly, according to people with direct knowledge of matter.