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…
Essex County Man Indicted in Scheme to Steal Checks and Defraud Banks
NEWARK, N.J. – An Essex County, New Jersey, man was charged for his role in a scheme to steal and alter checks from the mail and fraudulently obtain funds from banks by…
‘Hypocrisy’: The World Bank’s New Focus On Climate Threatens World’s Poorest Nations, Researchers Say
‘Hypocrisy’: The World Bank’s New Focus On Climate Threatens World’s Poorest Nations, Researchers Say John Hugh DeMastri on February 23, 2023 The World Bank’s plan to focus future efforts on climate change…
U.S. Federal Reserve rejects Custodia Bank’s request for reconsideration of Fed supervision
(Reuters) – The U.S. Federal Reserve on Thursday denied crypto-focused Custodia Bank’s request that the central bank reconsider its application to become a member of the Federal Reserve System. The Fed previously…
Australia advertises job on central bank’s policy-setting board
SYDNEY (Reuters) – Australia’s government is advertising a job on the policy-setting board of the Reserve Bank of Australia, the first time the powerful position has been thrown open to all comers…
EU calls for fast-track crypto capital rules for banks
By Huw Jones LONDON (Reuters) – Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline,…
Thai banks’ bad loans slow to 2.73% of lending at December-end -central bank
BANGKOK (Reuters) – Thai banks’ non-performing loans stood at 2.73% of total lending at the end of December 2022, down from 2.77% at the end of September, helped by debt restructuring, the…
China refines capital and risk management of commercial banks
BEIJING (Reuters) – China’s banking regulator and the central bank plan to adopt a more differentiated regulatory system for assessing commercial banks’ capital adequacy and risk management, in a step to better…
Hedge funds’ short-covering of tech bets is 2nd biggest in a decade – banks
By Carolina Mandl NEW YORK (Reuters) – Hedge funds betting against stocks in the technology sector rushed to unwind those trades in the first half of February as markets rallied, data from…
Exclusive-World Bank’s Malpass on surprise exit: Four years is a long time
By Andrea Shalal WASHINGTON (Reuters) – World Bank President David Malpass on Thursday told Reuters he decided to leave before his five-year contract ended because he felt work was well underway on…
China tightens requirements on classifying banks’ asset risks
SHANGHAI (Reuters) – China on Saturday tightened risk management requirements on banks, requiring them to classify financial-asset risks in a timely and prudent manner, in a bid to better assess lenders’ credit…
Fed releases 2023 stress test scenarios for banks, including extra new shock for big firms
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve on Thursday released the hypothetical economic strains they will use to test the strength of big bank finances in its 2023 stress…
Australia’s four biggest banks fully pass on central bank rate hike
(Reuters) – Commonwealth Bank of Australia and Westpac Banking Corp followed their two main rivals on Thursday in saying they would fully pass on to customers the 0.25 percentage point interest rate…
Nine global banks invest $45 million in carbon credit platform
LONDON (Reuters) – Nine global banks have invested a total of $45 million in a new platform to help scale up transactions of voluntary carbon credits and make it easier for their…
Italy’s CDP sounds out banks, funds on rival bid for TIM grid, sources say
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) – Italian state lender CDP is sounding out banks that could help finance its offer for Telecom Italia’s landline grid while also speaking to…
Post-QE bond losses rising reality for central banks – BIS
By Marc Jones LONDON (Reuters) – Central banks face mounting losses on the trillions of dollars of bonds they bought in the past 15 years of rolling crises, a paper from the…
South Korea, Australia central banks renew currency swap agreement
SEOUL (Reuters) – South Korea’s central bank said it renewed on Monday a currency swap agreement with its Australian counterpart, valued at 9.6 trillion won or A$12 billion, for five years until…
Brazil currency firms, rate cut bets pushed back by central bank’s hawkish outlook
By Marcela Ayres BRASILIA (Reuters) – Brazil’s currency firmed and interest rate futures jumped on Thursday as a more hawkish outlook from the central bank led economists to push back forecasts for…
Russians’ deposits with foreign banks jumped to almost $82 billion in Jan-Nov
MOSCOW (Reuters) – Russians’ deposits with non-resident banks increased by around 2.5 times between January and November last year to almost 5 trillion roubles, around $82 billion according to the exchange rate…
Large Brazilian banks may set aside around $890 million for Americanas losses in Q4
By Aluisio Alves SAO PAULO (Reuters) – Brazilian banks may start setting aside provisions for losses with retailer Americanas already in the fourth quarter of 2022, analysts say. Banks such as BTG…
Global investment banks project jump in yuan in 2023
SHANGHAI (Reuters) – Global investment banks have raised their forecasts for the Chinese yuan this year on expectations the country’s economic reopening and Beijing’s decision to relax property sector curbs will trigger…
Body found on banks of Newark Bay near apartment complex
BAYONNE, NJ – A body was found on the banks of Newark Bay on Friday. Police responded to the scene along the shoreline behind the Thomas W. Zito Bayside Apartment complex in…
EU tests banks’ ability to withstand ‘high-for-long’ interest rates
By Huw Jones LONDON (Reuters) – European Union banking regulators on Tuesday launched a stress test to check how banks could cope with a long period of high inflation and interest rates…
Cash is king in Lebanon as banks atrophy
By Maya Gebeily CHTAURA, Lebanon (Reuters) – The money exchange shop in Lebanon’s Bekaa Valley was buzzing with business. Cellphones pinged endlessly and employees shouted out various rates as customers flocked in…
Police investigating after body of man found on banks of Delaware River
BURLINGTON TOWNSHIP, NJ – Police are investigating after the body of a 38-year-old Burlington Township man was found along the banks of the Delaware River Thursday afternoon. Police were notified of the…
India’s top banks say Adani exposure within RBI limits but remain watchful
By Nupur Anand and Siddhi Nayak MUMBAI (Reuters) – Some of India’s leading public sector banks said on Friday their exposure to the Adani Group was within the limits prescribed by the…
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