UBS shareholders back bank’s climate roadmap
By Brenna Hughes Neghaiwi ZURICH – UBS shareholders on Wednesday approved the bank’s climate roadmap, after its first-ever such vote faced pushback from several investors …
banks
Column-Felling the ‘magic money tree’ as central banks call time :Mike Dolan
By Mike Dolan LONDON – The race is on to declare a paradigm shift in the world economy toward higher inflation and interest rates and …
Australian banks gravitate to June for rate rise, ultimate peak unclear
By Wayne Cole SYDNEY – Most of Australia’s major banks now expect a rise in interest rates as early as June, though opinions on the …
Russian banks need to be recapitalised as losses loom, VTB CEO says
(Reuters) – Russia’s banks will need a wider recapitalisation, Andrey Kostin, CEO of No.2 lender VTB, has told the TASS news agency, with the scale …
Analysis – Most banks narrow UK gender pay gaps, UBS, Deutsche Bank go into reverse
By Iain Withers and Carolyn Cohn LONDON – Major British financial companies collectively narrowed their gender pay gaps last year, but some went into reverse …
Germany faces steep recession if Russian oil and gas halted – banks
FRANKFURT – Germany will face a steep recession if there is a stop to imports or delivery of Russian gas and oil, a top German …
Ukraine asks EU, British, Japanese and U.S. central banks to ban rouble transactions
(Reuters) – The governor of Ukraine’s central bank urged the central banks of the European Union, the United States, Japan and Britain to ban transactions …
Beware of wartime fake news triggering a run, EU banks told
By Huw Jones LONDON – Banks should beware of fake news that could trigger a run on their deposits, the European Union’s banking watchdog said …
Brazil’s central bank to postpone payments to banks due to striking workers
By Bernardo Caram BRASILIA – Brazil’s central bank decided on Wednesday to postpone payments to financial institutions for resources held in accounts from the Pix …
Lawsuit accusing 10 banks of rigging $23 trillion U.S. Treasury market is dismissed
By Jonathan Stempel NEW YORK – A federal judge on Thursday dismissed a long-running antitrust lawsuit accusing 10 of the world’s largest banks of pursuing …
Russian invasion, crypto trading drive ‘tail risks’ for U.S. banks -regulator
By Pete Schroeder WASHINGTON – A top U.S. banking regulator told banks on Thursday to be more vigilant about guarding against unlikely but extreme risk …
U.S. regulator joins effort to press banks to gauge climate-linked financial risks
By Pete Schroeder WASHINGTON – A second U.S. banking regulator has laid out how it thinks banks should guard themselves against risks emanating from climate …
ECB tells banks to cut lending to indebted borrowers after binge
FRANKFURT – The European Central Bank has told banks to cut lending to the most indebted borrowers, which could poke a hole in their balance …
Ukraine war’s impact on EU banks ‘manageable’, says watchdog
By Huw Jones LONDON – The impact of the Ukraine war on banks in the European Union is ‘manageable’ but the effects of commodity markets …
Explainer-Why an inverted yield curve may not be all bad for U.S. banks
By David Henry and Michelle Price (Reuters) – The U.S. Treasury yield curve, widely watched as a barometer of the economy’s health, briefly “inverted” on …
Egypt state banks sell $16.6 billion in 18% CDs, absorbing post-devaluation liquidity
By Patrick Werr CAIRO – Egypt’s two biggest state banks have sold 303 billion Egyptian pounds ($16.57 billion) in special certificates of deposit (CDs) they …
Fitch withdraws Russian banks’ ratings
(Reuters) – Rating agency Fitch said on Tuesday it has withdrawn its ratings of 27 Russian banks, four of their affiliates and related financing special …
Banks undermine their ‘net zero’ pledges through lobbying – report
LONDON – Thirty of the world’s largest financial institutions are undermining their commitment to cutting carbon emissions by lobbying against climate regulation and by funding …
ECB to tighten banks’ access to loans after pandemic-era largesse
FRANKFURT – The European Central Bank will tighten banks’ access to its liquidity from July by phasing out exceptionally easy collateral rules introduced at the …
Credit Agricole suspends services in Russia as banks retreat
By Iain Withers and Julien Ponthus LONDON – France’s Credit Agricole said on Tuesday it had suspended all services in Russia, joining a retreat by …
Polish central bank’s programme to allow Ukrainians to convert cash to start on Friday
WARSAW – Poland’s central bank signed an agreement with the National Bank of Ukraine that will allow every adult Ukrainian refugee to convert up to …
Explainer-Global banks count cost of Russia exposure
By Valentina Za MILAN – The Ukraine conflict has prompted many international banks to review their presence in Russia, or swiftly embark on the arduous …
Wary of Western sanctions, Turkey’s banks resist Russian customers -sources
By Ebru Tuncay and Orhan Coskun ISTANBUL -Russians newly arrived in Turkey are struggling to make deposits and transfers at banks that are taking a …
Retreat from Russia riddled with risks for Western banks
By Sinead Cruise and Huw Jones LONDON – As they switch off the lights in Moscow, the world’s top banks face a risk-ridden retreat, juggling …
Deutsche Bank’s U.S. affiliate, following the Fed, raises prime lending rate
– Germany’s Deutsche Bank AG said on Thursday its U.S. affiliate had increased its prime lending rate by 25 basis points, mirroring moves by major …
Russians have up to $213 billion stashed offshore in Swiss banks
By Oliver Hirt and Brenna Hughes Neghaiwi ZURICH – Switzerland’s secretive banks hold up to $213 billion of Russian wealth, the country’s financial industry association …
Convicted Felon Sentenced To 25 Years in Prison for Armed Robberies of Two Banks and Minneapolis Apparel Store
ST. PAUL, Minn. – A Minneapolis man has been sentenced to 300 months in prison followed by five years of supervised release for a Hobbs …
Gulf central banks follow Fed to raise key rates by 25 bps
CAIRO -Gulf central banks on Wednesday raised their main interest rates by a quarter percentage point in lockstep with the U.S. Federal Reserve as it …
U.S. banks will keep a toe in Russia despite wind-downs
By Matt Scuffham and David Henry NEW YORK – Several of Wall Street’s biggest banks are planning on keeping a limited presence and holding on …
Wall Street banks’ staff churn to double this year after bonus payouts – experts
By Elizabeth Dilts Marshall NEW YORK – Staff turnover on Wall Street is set to surge in coming weeks as investment bankers who held off …
Swiss gov’t proposes public liquidity backstop for big banks
ZURICH – The Swiss government wants to set up a new backstop allowing the provision of state-guaranteed cash should one of the country’s big banks …
U.S. ethanol industry banks on carbon capture to solve emissions problem
By Leah Douglas – U.S. ethanol producers are betting heavily on carbon capture and storage (CCS) technology to lower their greenhouse gas emissions and secure …
Factbox-U.S. banks in Russia by the numbers
NEW YORK – Major U.S. banks have started announcing plans to wind down operations in Russia in the wake of its invasion of Ukraine and …
Central banks rush to stimulus exit as inflation jumps, wary of Ukraine fallout
LONDON – The European Central Bank’s announcement on Thursday that it plans to end stimulus in the third quarter of 2022 shows that policymakers across …
Explainer-The extent of global banks’ Russian exposure
By Valentina Za MILAN – European bank stocks have lost a fifth of their value over the past month amid the Ukraine crisis. Western sanctions …
EU imposes sanctions on more Russians, adds Belarus banks to list
BRUSSELS – The European Union said on Wednesday it was stepping up sanctions over Russia’s invasion of Ukraine, including targeting more Russian individuals and adding …
Banks in talks with distressed buyers on Russian assets – sources
By Davide Barbuscia and Yoruk Bahceli NEW YORK/LONDON – Banks are having conversations with potential buyers on how to get rid of their exposure to …
Explainer-The extent of global banks’ Russian exposure
By Valentina Za MILAN – European bank stocks have lost a fifth of their value since Russia invaded Ukraine last month. Western sanctions against Moscow …
At the top of Europe’s banks, it’s still a man’s world
By Brenna Hughes Neghaiwi and Tom Sims ZURICH/FRANKFURT – Women remain rare visitors to the highest echelons of European banks. The 25 biggest banks by …
Governments urged to give banks more detail on Russian sanctions
By Huw Jones LONDON – Banks need to be given more guidance on how to sever ties with Russia because they have never before had …
Russian banks rush to switch to Chinese card system
– Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator’s system coupled with Russia’s own Mir …
Analysis-Global banks face costly, arduous process to exit Russia
By Matt Scuffham and Megan Davies NEW YORK – Global banks face an arduous and costly process if they decide to close businesses in Russia, …
War in Ukraine puts pressure on East European banks to prop up sinking currencies
By Gergely Szakacs and Alan Charlish BUDAPEST/WARSAW -Russia’s invasion of Ukraine is putting pressure on central banks along the European Union’s eastern flank to prop …
Explainer-Which international banks are exposed to Russia?
By Valentina Za MILAN – The latest wave of sanctions on Russia over its invasion of Ukraine has thrown the global banking industry deeper into …
Explainer-Russian banks isolated, UK cuts insurance ties with Moscow
By Huw Jones and Tommy Wilkes LONDON – Britain will ban Russian companies from London’s multi-billion dollar aviation and space insurance market, the latest restrictions …
EU considering SWIFT exclusion for Belarus banks – official
BRUSSELS – The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has …
Analysis-Chinese banks scramble for ‘workarounds’ as Russia sanctions impinge
By Engen Tham and Julie Zhu – Top Chinese banks are rushing to ensure they can maintain business ties with Russian clients without running afoul …
Russian central bank to hold daily auctions to help banks manage liquidity
MOSCOW – Russia’s central bank said on Wednesday that it would hold daily 3 trillion rouble ($28.31 billion) repo and deposit auctions to help lending …
Explainer-Russian banks out in the cold as EU unveils SWIFT sanctions
By Tommy Wilkes and Huw Jones LONDON – The European Union is excluding seven Russian banks from the SWIFT messaging system that underpins global payment …
Global banks eschew risk as they navigate Russia sanctions quagmire
By Michelle Price and Sumeet Chatterjee WASHINGTON/HONG KONG – Faced with an unprecedented level of sanctions on Russia, global banks are taking a dim view …