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…
Fed in discussions with banks about managing risks of AI: Waller
(Reuters) – The Federal Reserve has “regular discussions” with the banks it supervises about managing the risks associated with artificial intelligence, as more financial institutions utilize AI for customer service applications, fraud…
Marketmind: Cautious markets focus on central banks’ diverging paths
A look at the day ahead in European and global markets from Ankur Banerjee Investors have hunkered down in Asian hours with stocks drifting while the dollar clings to gains from overnight.…
Exclusive-In Rakuten Bank’s downsized IPO, investors pushed for details on troubled parent, sources say
By Miho Uranaka TOKYO (Reuters) – Japan’s Rakuten Bank Ltd amended the filing of its $625 million initial public offering (IPO) after investors pushed for details on the risks from its exposure…
Market stress may pressure Spanish banks despite strong liquidity- cenbank
By Jesús Aguado MADRID (Reuters) -Spanish lenders may feel the impact from rising global risks, such as the higher cost of funding and liquidity stress, though their cash positions remained stable in…
Marketmind: Central banks on pause patrol
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Whisper it, but Wednesday could be a pretty quiet day in Asia after Wall Street…
Big Banks Win Big After Financial Sector’s Chaotic Start To The Year
Big Banks Win Big After Financial Sector’s Chaotic Start To The Year Jason Cohen on April 17, 2023 Some of the largest financial institutions posted positive earnings despite bank turmoil during the…
HSBC shareholder Ping An to vote for bank’s break-up at annual meeting -source
HONG KONG/LONDON (Reuters) – HSBC’s biggest shareholder Ping An is likely to vote in favour of splitting the bank up at its annual investor meeting on May 5, a source familiar with…
ECB told not to take banks’ word for it when assessing risk
FRANKFURT (Reuters) – The European Central Bank should stop relying on banks’ self-assessments when setting capital requirements and do its own homework instead, independent experts said on Monday. It was the most…
Marketmind: Banks calm the horses
A look at the day ahead in U.S. and global markets from Mike Dolan. As U.S. banking giants calm the horses, global investors are now concentrated on world growth and earnings signals…
Analysis-Central banks have yet to script final act of inflation fight as risks rise
By Howard Schneider and Balazs Koranyi WASHINGTON (Reuters) – Major central banks may be deep into their drive to raise interest rates in hopes of killing inflation, but the endgame remains far…
U.S. banks highlight office real estate as next big worry
By Matt Tracy and Saeed Azhar (Reuters) – Some of the largest U.S. banks singled out office commercial real estate on Friday as an area of growing concern, with property values falling…
Marketmind: Banks to test soft landing thesis
A look at the day ahead in U.S. and global markets from Mike Dolan World markets have surged this week on renewed hopes of disinflation, peak interest rates and a soft economic…
World Bank’s new boss must push ahead on reforms, fight poverty-French minister
By David Lawder WASHINGTON (Reuters) – France’s development minister said on Thursday she will tell the World Bank’s expected next president, Ajay Banga, to maintain the bank’s anti-poverty mission while forging ahead…
Factbox-Wall St banks expect one more Fed rate-hike as recession looms
(Reuters) – Most major U.S. banks expect the Federal Reserve to raise interest rates by another 25 basis points next month, following evidence of sticky inflation and a strong labor market. The…
Global watchdog issues blueprint for banks to report cyber attacks
LONDON (Reuters) – The G20’s financial watchdog on Thursday recommended a blueprint for banks to report cyberattacks in a common format in a bid to speed up responses to hacking and limit…
Small U.S. banks and businesses make for big problem: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) -If small businesses are the bedrock of the U.S. economy, last month’s banking shock has given us a pretty good idea of where the epicenter of…
White House’s Brainard says banks need to show they are managing risks effectively
By David Lawder WASHINGTON (Reuters) – White House economic adviser Lael Brainard said on Wednesday the U.S. banking system is “sound” and stable after two bank failures last month, but institutions that…
EU to speed up how regulators tackle failing banks – EU documents
By Huw Jones LONDON (Reuters) – European Union plans, due next week, will seek to speed up handling of failing banks to ensure they are not bailed out by taxpayers but “bailed…
Turkey’s cenbank urges banks to avoid creating forex demand, bankers say
By Nevzat Devranoglu ANKARA (Reuters) – Turkey’s central bank has been urging banks in recent weeks to avoid steps that could create demand for foreign currency as May elections loom, and to…
Singapore’s Q1 GDP likely slowed, complicating central bank’s task: Reuters poll
By Chen Lin SINGAPORE (Reuters) – Singapore’s economy is likely to have expanded at a slower pace in the first quarter, posing a challenge for the central bank as it seeks to…
Russians moved more FX holdings to foreign banks in 2022 -central bank
By Elena Fabrichnaya MOSCOW (Reuters) – Russians’ foreign currency holdings at foreign banks exceeded those held at domestic ones last year, the central bank said on Tuesday, in a shift driven by…
Smaller Chinese banks cut deposit rates on squeezed margins
BEIJING (Reuters) – Several small and mid-sized banks in China have lowered their deposit interest rates, a move that could help ease costs as loan growth faces more pressure amid rising economic…
No escape from the zero lower bound for top central banks – IMF
By Howard Schneider WASHINGTON (Reuters) – Interest rates eventually should fall back to levels seen before the outbreak of COVID-19, with advanced economies again within sight of the “zero lower bound” and…
Austrian banks unaffected by banking turmoil – finance minister tells NZZ
ZURICH (Reuters) – Austria’s government is monitoring the global banking turmoil although there are so far no signs of it spreading to the country’s financial sector, Finance Minister Magnus Brunner said in…
Risks loom over China’s top tier banks from property downturn, higher costs
By Ziyi Tang and Ryan Woo BEIJING (Reuters) – China’s largest banks will see near-term revenue and margin pressures on a persisting property sector downturn, higher costs and a worsening global macro…
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