Analysis-Swiss banking plan leaves ‘relieved’ UBS out of immediate firing line
By John Revill ZURICH (Reuters) – UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the “monster bank” in line…
Proposed Banking Regulations Won’t Save Sector But Will Hurt Your Wallet, Experts Say
Proposed Banking Regulations Won’t Save Sector But Will Hurt Your Wallet, Experts Say Will Kessler on December 10, 2023 Key U.S. regulators have proposed the Basel III endgame requirements that would place…
US banking regulator warns on risks of ‘buy now, pay later’
(Reuters) – A top U.S. banking regulator on Wednesday warned banks to manage the risks to consumers posed by increasingly popular “buy now, pay later” financing for retail spending, saying the service…
Ex-Silicon Valley Bank startup banking chief joins law firm Orrick
By David Thomas (Reuters) – U.S. law firm Orrick, Herrington & Sutcliffe on Tuesday said it has hired the ex-head of startup banking at Silicon Valley Bank, which was a top lender…
Jefferies sets up investment banking unit in Canada to boost international expansion
(Reuters) – Jefferies Financial Group said on Monday it has set up an investment banking and capital markets unit in Canada, sticking to its plans to pursue an international expansion even as…
Goldman: Hedge and mutual funds favour banking and healthcare over tech
By Naomi Rovnick and Nell Mackenzie LONDON (Reuters) – Leading hedge funds and mutual funds are betting on gains outside the tech sector in coming months, Goldman Sachs research shows. The ten…
Did pandemic central banking work? Fed review to eye inflation, jobs tradeoffs
By Howard Schneider ATLANTA (Reuters) – The U.S. Federal Reserve’s pledge in 2020 to sustain “broad-based and inclusive” employment through loose monetary policy was considered a bold response to the pandemic, putting…
Citi bankers leave for Jefferies as municipal banking department in turmoil -Bloomberg News
(Reuters) – A team of bankers focused on healthcare at Citigroup has left for rival Jefferies Financial after the firm’s executives mulled closing the municipal banking department altogether, Bloomberg News reported on…
Citigroup resumes retail banking sale in Poland – Bank Handlowy CEO
GDANSK (Reuters) – Citigroup has resumed the process of selling the retail business of Bank Handlowy in Poland, Bank Handlowy CEO Elzbieta Czetwertynska said on Friday, adding that talks with interested investors…
Banking sector faces risks from inflation -Moody’s
By Paritosh Bansal and Tatiana Bautzer NEW YORK (Reuters) – The banking sector is not yet out of the woods, with reinflation a risk if banks fail to sufficiently predict rate moves,…
Scotiabank appoints Bogdaneris as head of Canadian banking unit
(Reuters) – Bank of Nova Scotia said on Thursday it appointed former ING Group executive Aris Bogdaneris as group head of its Canadian banking segment, effective Nov. 3. Bogdaneris will join Canada’s…
US banking regulators extend feedback window for contentious capital proposal
By Pete Schroeder WASHINGTON (Reuters) – A trio of U.S. banking regulators announced on Friday they were giving the public extra time to digest and provide feedback on a broad proposal to…
Australia’s Westpac fails to sell pacific banking business
(Reuters) – Australian lender Westpac said on Wednesday it had cancelled the sale of its Fiji and Papua New Guinea businesses, ending a years-long process that was beset by regulatory problems. The…
US Senate committee votes to advance marijuana banking bill
(Reuters) – A U.S. Senate committee on Wednesday voted to advance a marijuana banking bill, raising hopes for the cash-dependent cannabis sector to get access to regular banking services. Most banks in…
US Senate looks at cannabis banking reform, but industry says it’s not enough
By Moira Warburton WASHINGTON (Reuters) – A U.S. Senate committee on Wednesday will vote on whether to advance a bill that would allow the legal cannabis industry access to banking, an option…
Banking group IIF to proceed with annual meeting in earthquake-hit Morocco
By David Lawder WASHINGTON (Reuters) – The Institute of International Finance said on Monday it would still hold its annual membership meeting in Marrakech on Oct. 12-14, following the World Bank and…
India’s banking system liquidity deficit jumps to over 4-year high
By Dharamraj Dhutia MUMBAI (Reuters) – India’s banking system liquidity deficit is at its widest in over four years ago, amid tax outflows and the lack of any major inflows, traders said…
Goldman Sachs fires several executives in transaction banking -memo
By Saeed Azhar NEW YORK (Reuters) – Goldman Sachs fired several executives in its transaction banking unit after they violated the firm’s communications policy, according to a memo seen by Reuters on…
Italy’s new bank tax should count as cost, ABI banking lobby
MILAN (Reuters) – Italian banks should be able to deduct from their overall tax bill the one-off tax on income deriving from higher interest rates which the government plans to introduce, industry…
Analysis-US banks hold $3.3 trillion cash amid banking crisis, slowdown worries
By Saeed Azhar and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) – U.S. lenders are holding onto large piles of cash as insurance against a slowing economy, continuing deposit outflows and looming tougher…
STEPHEN MOORE: Congress Can’t Regulate The Risk Out Of Banking, But They Can Regulate The Economy Into The Ground
STEPHEN MOORE: Congress Can’t Regulate The Risk Out Of Banking, But They Can Regulate The Economy Into The Ground Stephen Moore on August 9, 2023 Banking is just about the most regulated…
Japan banking regulator sees no big impact from BOJ shift for now
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – The Bank of Japan’s latest policy shift would not have a major impact on Japanese banks unless there are sudden spikes in domestic…
Kansas City Fed’s new chief is a veteran banking executive
By Ann Saphir (Reuters) -After more than a year of search, the Kansas City Federal Reserve Bank has a new leader: Jeffrey Schmid, a former banking executive who ran three different financial…
Building materials maker Holcim banking on U.S. reshoring boom
ZURICH (Reuters) -Holcim said on Thursday it expects to set another record for sales from North America this year as the world’s biggest cement maker goes after new business resulting from companies…
Flagstar Bank hires six First Republic teams to expand private banking
(Reuters) – Flagstar Bank, a subsidiary of New York Community Bancorp, said on Thursday it has hired six private client banking teams from the now-defunct First Republic Bank. Three of the teams…
Australia’s Westpac splits consumer and business banking unit into two
(Reuters) – Westpac Banking Corp on Wednesday said it would split its consumer and business banking business into two, with each having its own CEO, effective Aug. 1. The bank said Chris…
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