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…
India banks’ exposure to Adani Group is limited – CLSA, Jefferies
MUMBAI (Reuters) – Indian banks’ exposure to the Adani Group is within manageable limits, said brokerage houses CLSA and Jefferies, as the group fend off an attack from well-known short-seller Hindenburg Research.…
Indonesian central bank’s expanded mandate won’t affect inflation framework – chief
JAKARTA (Reuters) – Indonesia’s central bank governor Perry Warjiyo said on Thursday the passage of a law last year that expanded Bank Indonesia’s (BI) mandate would not affect its framework to tackle…
Swiss National Bank’s Schlegel says too early to sound inflation all clear
ZURICH (Reuters) – Swiss National Bank Vice Chairman Martin Schlegel said on Tuesday it was too early to sound the ‘all-clear’ on inflation in Switzerland, despite an expected decline in the rate…
Banks demand deep changes to UK’s accountability rules -sources
By Iain Withers and Huw Jones LONDON (Reuters) – Banks are pushing the British government to relax core parts of post-financial crisis rules designed to hold bosses to account for misconduct on…
EU lawmakers to vote on tighter crypto, ESG rules for banks
By Huw Jones LONDON (Reuters) – Banks would have to set aside a punitive amount of capital to cover holdings of cryptoassets under a draft law due to be voted on by…
Big Banks Are Raising A Giant Red Flag For The US Economy
Big Banks Are Raising A Giant Red Flag For The US Economy Laurel Duggan on January 10, 2023 Some of the country’s largest banks are expected to see a 15% decline in…
Banks still need to learn lessons from 2022 crises – BoE says
By Iain Withers LONDON (Reuters) – Banks still need to improve their risk management and learn the lessons from various crises that rocked markets in 2022, regulators at the Bank of England…
Kentucky Becomes Latest State To Take On Woke Banks, Asset Managers
Kentucky Becomes Latest State To Take On Woke Banks, Asset Managers Jack McEvoy on January 4, 2023 UPDATE: This story has been updated to include a statement from JPMorgan Chase. The state…
Deutsche Bank’s rollercoaster ride towards more stability
(This Dec. 16 story has been refiled to correct currency unit to cents in paragraph 33) By Tom Sims and Marta Orosz FRANKFURT (Reuters) – In 2019, Deutsche Bank set out on…
Majority Of Big Banks Predict Significant Economic Downturn In 2023: POLL
Majority Of Big Banks Predict Significant Economic Downturn In 2023: POLL John Hugh DeMastri on January 2, 2023 Of 23 major financial institutions that work directly with the Federal Reserve, 16 anticipate…
Global central banks deliver historic rate hike blast in 2022
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – Major central banks ramped up interest rates at the fastest pace and biggest scale in at least two decades in 2022 as policy…
India’s RBI may hike repo rate to 6.75% in 2023 – IDBI Bank’s Arun Bansal
By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – The Reserve Bank of India could take the key policy rate to 6.75% next year, as core inflation stays elevated and the U.S.…
Credit Suisse clients are returning, CEO of bank’s Swiss business says
ZURICH (Reuters) – Credit Suisse’s client withdrawals have stabilised and reversed in some cases, Andre Helfenstein, the head of Credit Suisse’s Swiss business said in an interview with local newspaper NZZ. Last…
World Bank’s IFC sees ‘huge’ potential to boost investment in Africa
By Andrea Shalal WASHINGTON (Reuters) – The World Bank’s private investment arm sees huge potential to boost investment in Africa and help support entrepreneurship and digital transformation on the continent, top officials…
Investment banks ramp up peak rates forecasts after hawkish ECB
By Alun John LONDON (Reuters) – A flurry of investment banks raised their forecasts for where euro zone interest rates will peak, after the European Central Bank signalled on Thursday that hikes…
World Bank’s private arm launches $2 billion program to help Ukrainian businesses
By Andrea Shalal WASHINGTON (Reuters) – The World Bank’s private investment arm on Thursday said it had launched a $2 billion support package for Ukraine to help build the resilience of the…
Analysis-No turning back: Global central banks vow to stay the course on inflation
By Howard Schneider WASHINGTON (Reuters) – Central banks in Europe on Thursday followed the Federal Reserve in slowing the pace of interest rate increases but also offered a similar stark message that…
Central banks ramp up rates again but the pace slows
LONDON (Reuters) – Central banks in Britain, Norway, Switzerland, the euro zone and the United States have all raised interest rates this week. Many have slowed the pace of their hikes. But…
Greek banks to subsidise interest rate rises for vulnerable borrowers
ATHENS (Reuters) – Greek banks will subsidise part of the recent interest rate increases for vulnerable mortgage borrowers, officials said on Wednesday. About 30,000 vulnerable households that are servicing their mortgage loans…
Musk’s banks to book Twitter loan losses, avoid big hits -sources
By Lananh Nguyen, Saeed Azhar and Shankar Ramakrishnan NEW YORK (Reuters) -Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans…
Danske Bank Pleads Guilty To Fraud On U.S. Banks In Multi-Billion Dollar Scheme To Access The U.S. Financial System
Damian Williams, the United States Attorney for the Southern District of New York, Lisa O. Monaco, the Deputy Attorney General of the United States, Kenneth A. Polite Jr., the Assistant Attorney General…
UK has no plan to cut interest BoE pays to banks: Treasury official
LONDON (Reuters) – Britain’s finance ministry has no plan for the Bank of England to cut the amount of interest it pays to banks, the Treasury’s top official said on Monday, following…
ECB to raise scrutiny of banks’ credit risk, funding in 2023 as recession looms
FRANKFURT (Reuters) – The European Central Bank will increase scrutiny over how banks manage credit risk and diversify funding, it said on Monday while outlining its 2023 priorities as the euro zone…
Waning trust: China shadow banks pivot away from property to survive
By Engen Tham, Clare Jim and Julie Zhu SHANGHAI/HONG KONG (Reuters) – For more than a decade, Chinese developers’ debt-fuelled construction boom enriched the country’s shadow banks, who were eager to capitalise…
Turkish watchdog cuts banks’ forex to capital ratio limit
ISTANBUL (Reuters) – Turkey’s BDDK banking watchdog has set the foreign currency net position to standard capital ratio for banks at a maximum 5% according to a regulation published in the country’s…
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