What we’re reading:
U.S. Virgin Islands. VIPSC. Utilities. “The Virgin Islands Public Services Commission is preparing to launch a series of high-stakes investigations into the territory’s public utilities — while warning lawmakers Monday that chronic mismanagement, outdated infrastructure and nonpayment of regulatory assessments are threatening the commission’s ability to carry out its duties.” — St. Thomas Source.
U.S. Virgin Islands. VIPSC. Utilities. “Virgin Islands residents should not expect a significant reduction in their power bills for another three years, according to testimony from V.I. Water and Power Authority CEO Karl Knight on Monday, but he added that he hopes to pass on “some type of reduction” by this time next year.” — Virgin Islands Daily News.
U.S. Virgin Islands. Trump Administration. Economy. “Gov. Albert Bryan Jr. sought to quell Virgin Islanders’ fears about the future during Monday’s Government House press briefing, and said he will keep urging officials in President Donald Trump’s administration not to implement policies that will hurt the territory’s economy.” — Virgin Islands Daily News.
Federal Reserve Bank of New York. Student loans. “The Federal Reserve Bank of New York’s Center for Microeconomic Data will release its 2025 Student Loan Update on Wednesday, March 26 at 10:00 AM ET.” — Federal Reserve Bank of New York.
Trump. Tariffs. Asian stocks. Asian stocks followed Wall Street higher on Wednesday and the U.S. dollar meandered as markets awaited clarity on President Donald Trump’s trade policy ahead of a new round of tariffs next week. — Reuters.
For an analysis of legal risks from today’s news, contact Alton Drew at altondrew@altondrew.com.
Foreign exchange per the Board of Governors of the Federal Reserve System.
EUR/USD=1.0806
GBP/USD=1.2896
USD/JPY=148.9800
Administered rates per the Board of Governors of the Federal Reserve System.
Discount Window: 4.50%
Effective Federal Funds Rate: 4.33%
Interest on Reserve Balances: 4.40%
Overnight Reverse Repurchase Facility Rate:4.25%
Reference Rates per the Federal Reserve Bank of New York.
Effective Federal Funds Rate:4.33%
Overnight Bank Funding Rate: 4.33%
Secured Overnight Financing Rate:4.30%
Broad General Collateral Rate:4.29%
Tri-Party General Collateral Rate:4.29%
Foreign exchange per the Eastern Caribbean Central Bank.
USD/XCD=2.70
GBP/XCD=3.48786
EUR/XCD=2.91506
CAD/XCD=1.88501
JPY/XCD=0.01793
KWD/XCD=8.75557
AED/XCD=0.73509
CNH/XCD=0.37173
Administered rates per the Eastern Caribbean Central Bank.
ECCB Discount Rate: 3.0%
ECCB Call Rate: 2.4%
ECCB Fixed Deposit Rate (one month): 2.8%
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