Buffalo man admits to defrauding banks of nearly $500,000
BUFFALO, N.Y. — A former Buffalo resident pleaded guilty on Tuesday to orchestrating a scheme that defrauded two banks out of nearly half a million dollars. Joshua Parra, 32, who now lives…
EXCLUSIVE: Jim Banks Demands Pentagon Hand Over Stats That Could Debunk COVID-19 Vax Argument
Republican Rep. Jim Banks of Indiana demanded the Pentagon give updated data on diseases rates that could show whether COVID-19 or the vaccine caused the illnesses to spike as side effects, according…
Woman Charged with Robbing Waterbury and Bristol Banks in February
Vanessa Roberts Avery, United States Attorney for the District of Connecticut, and Robert Fuller, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, today announced that…
IRS sues FDIC over Silicon Valley Bank’s $1.4 billion tax debt
By Dietrich Knauth (Reuters) – The U.S. Internal Revenue Service on Tuesday sued the Federal Deposit Insurance Corporation, asking a judge to determine how much the FDIC must pay to cover an…
Real estate pain for US regional banks is piling up, say investors
(Adds graphic) By Carolina Mandl, Matt Tracy and Saeed Azhar NEW YORK/WASHINGTON (Reuters) -New York Community Bancorp’s exposure to commercial real estate has intensified investor scrutiny around regional banks, with some expecting…
Iraq bans 8 local banks from US dollar transactions
By Timour Azhari BAGHDAD (Reuters) – Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S.…
China’s major state banks defend yuan as stock markets slide – sources
(Reuters) – China’s major state-owned banks were heavy sellers of dollars on Wednesday, three people with direct knowledge of their activity said, steadying the yuan as it came under pressure in currency…
Czech central bank’s Holub says bigger rate cut possible in Feb -Bloomberg News
(Reuters) – Czech policymakers could consider accelerating the pace of interest rate cuts as inflation ebbs to “relatively standard” levels, Czech National Bank (CNB) board member Tomas Holub said in an interview…
European banks’ strong run faces major test with earnings
By Tom Sims, Jesús Aguado and Valentina Za FRANKFURT/MADRID/MILAN (Reuters) – European banks’ run of soaring profits and record shareholder payouts faces a big test this week when investors assess how fast…
Central banks navigate tricky path from rate hikes to cuts
LONDON (Reuters) – Major central banks have likely come to the end of what has been the most aggressive tightening cycle in decades, but some are pushing back against market expectations for…
BoE says ‘ring fencing’ capital rules for retail banks need no big overhaul
By Huw Jones LONDON (Reuters) -The Bank of England said on Thursday that its rules requiring banks to “ring fence” their retail arms with bespoke buffers of capital have worked satisfactorily with…
Indian banks urge return to call option valuation for perpetual bonds – sources
By Dharamraj Dhutia, Nikunj Ohri and Jayshree P Upadhyay MUMBAI (Reuters) – Indian lenders have suggested that investments in perpetual bonds issued by banks should be valued according to the call option…
EU watchdog to deepen examination of how banks prepare for rate shifts
By Huw Jones LONDON (Reuters) – Banks in the European Union face closer scrutiny of how they assess the impact of interest rate changes on their balance sheets after an initial examination…
Euro zone banks expect small bounce in loan demand – ECB poll
FRANKFURT (Reuters) -Euro zone banks expect a small rebound in the demand for mortgages and corporate loans for the first time in two years as a slump in lending shows early signs…
BIS chief says central banks on cusp of holy grail: a soft landing
FRANKFURT (Reuters) – The world’s biggest central banks may be on the verge of securing the holy grail of monetary policy: an economic soft landing, despite the sharpest interest rate hikes in…
Somerset Patriots and Local Businesses Donate $25,000 to Support Somerset County Food Banks
BRIDGEWATER, NJ – In a significant community effort, the Somerset Patriots, along with Clinton Honda and Land Rover Princeton, have donated $25,000 to four Somerset County food banks. The donation, part of…
US regional banks get solid welcome for new bonds
By Matt Tracy (Reuters) – Two major U.S. regional banks raised a total $4.75 billion selling bonds on Thursday, on the back of strong demand in a sign that fixed income investors…
China allows more foreign banks to play lead role in debt underwriting
By Selena Li HONG KONG (Reuters) – China has granted six foreign banks licences allowing them to act as lead underwriters for debt issues in China, as it admits more foreign players…
M&T Bank’s profit plunges on FDIC fee-related expense, costly deposits
(Reuters) – M&T Bank’s fourth-quarter profit plummeted 37% on Thursday, due to higher deposit costs and a special assessment fee the lender has to pay to refill a government deposit insurance fund…
Marketmind: Central banks play patience game
A look at the day ahead in European and global markets from Rae Wee The light economic data calendar in Europe on Thursday means the focus stays on rates, with European Central…
Vietnam tightens limits on investors’ stakes in banks
HANOI (Reuters) – Vietnam’s legislature on Thursday approved new rules that lower the maximum stake investors can hold in domestic banks, a move aimed at reducing risks of market manipulation, but that…
UBS chairman sees possible ‘upside’ to bank’s return on equity target
ZURICH (Reuters) – UBS’s return on equity may be higher than currently expected, once the integration of its former rival, Credit Suisse, has been completed, its chairman said on Wednesday. “We have…
UBS lifts 2024 year-end S&P 500 target to 5,150, tops big banks
(Reuters) – UBS Global Research increased its year-end target for the S&P 500 on Tuesday to 5,150, marking the highest projection among major global banks and indicating a potential 8% upside from…
Hedge fund shorts on banks and financials reach 4-month peak- Goldman
By Nell Mackenzie LONDON (Reuters) – Global hedge funds kicked off the largest net selling of U.S. financial stocks in 16 weeks just as earning season started in the week ending Jan.…
South Korea says it will impose fines on two global banks for short-selling violations
SEOUL (Reuters) – South Korea’s financial regulator on Sunday said it plans to impose penalties on two unnamed global investment banks it is investigating. The Financial Services Commission said it found two…
Marketmind: Crude shrugs at Yemen strikes, banks report
A look at the day ahead in U.S. and global markets from Mike Dolan Much like the slightly peculiar debt market nonchalance after December’s sticky inflation readout, world markets have remained calm…
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