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…
Spain’s High Court annuls $100 million in fines for four big Spanish banks
MADRID (Reuters) – Spain’s High Court has annulled 91 million euros ($100 million) of fines imposed on four Spanish banks, including Santander and BBVA, for selling interest rate derivatives to customers above…
Renault banks on new models, Megane price cut to fight off Tesla in France
By Gilles Guillaume PARIS (Reuters) – Renault is banking on new models and a price cut for its Megane model to help in its battle against U.S. rival Tesla Inc on its…
Cen banks to intervene more in bond markets; regulation needs review – ICMA study
(Reuters) – Central banks will have to intervene more frequently in government bond markets and policymakers should review prudential regulation to make the market more resilient, a provisional study by trade body…
Banks should increase use of ‘discount window’ to prevent crises -expert group
(Reuters) – Commercial banks should prepare to borrow more readily from central banks to limit contagion in times of stress and discourage runs by depositors, an expert regulatory panel said on Tuesday…
Big US banks to headline corporate bond calendar after earnings
By Matt Tracy (Reuters) – U.S. banks are expected to dominate corporate bond issuance following several major players’ earnings on Friday and early next week, according to bond investors and analysts. January…
Argentina government talks peso debt risk with banks as repayments loom
BUENOS AIRES (Reuters) – Argentina’s Economy Minister Luis Caputo discussed with representatives of banks the country’s economic program, including liability management, but no official debt swap proposals have been made, a ministry…
Turkish banks trim deposit rates as margins pressured -sources
By Ebru Tuncay ISTANBUL (Reuters) – Some Turkish banks have begun to cut their lira deposit rates to ease pressure on margins, banking sources said, after rising interest rates during the central…
Exclusive-China’s state banks act to stem yuan slide onshore and offshore -sources
SHANGHAI/BEIJING (Reuters) – China’s major state-owned banks were active in onshore and offshore foreign exchange markets this week trying to contain the yuan’s slide, four people with direct knowledge of the matter…
Wall Street banks push back expected end of Fed balance sheet drawdown
By Michael S. Derby NEW YORK (Reuters) – Wall Street’s biggest banks shifted ahead of last month’s Federal Reserve meeting toward predicting the U.S. central bank would end its balance sheet reduction…
Exclusive-China’s top banks tighten exposure to smaller peers to curb credit risk, sources say
(Reuters) – Some of China’s top banks have sharpened scrutiny of smaller peers’ asset quality and have tightened standards for interbank lending, three sources said, in an effort to curb credit risk…
US banks’ NIM to remain under pressure despite expected Fed rate cuts – S&P
(Reuters) – U.S. banks whose net interest margins (NIM) have been compressed due to higher funding costs are unlikely to see relief before the end of 2024 even if the Federal Reserve…
Japan banks scramble to beef up asset management business amid govt reform push
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -The Japanese government’s reform push for the country’s $5 trillion asset management industry has sparked a series of action plans from top Japanese banking…
South Korea banks pledge $1.5 billion for small businesses amid push to share profits
SEOUL (Reuters) – South Korea’s commercial banks will provide 2 trillion won ($1.53 billion) to support small businesses, the organisation representing the lenders said on Thursday, amid political and regulatory pressure to…
China banks step up sales of bad loans as consumer defaults rise
SHANGHAI/SINGAPORE (Reuters) – Chinese banks are putting bad loans up for sale at a record pace, as regulators push for faster disposal of sour debts amid rising consumer defaults during an ailing…
BofA’s former head of wealth, private bank Keith Banks to retire
By Lananh Nguyen NEW YORK (Reuters) – Bank of America executive Keith Banks, who ran several of its major businesses, will retire at the end of February after more than four decades…
Argentina new central bank chief to meet banks on Wednesday – sources
By Jorgelina do Rosario BUENOS AIRES (Reuters) – Argentina’s new central bank president Santiago Bausili has invited bank representatives in the country for a meeting at 9 a.m. (1200 GMT) on Wednesday,…
Marketmind: Rate prospects at risk as central banks meet
A look at the day ahead in European and global markets from Wayne Cole It’s set to be a pivotal week as the Federal Reserve leads a quintet of rich-world central bank…
Column-Prep for churn as central banks leave runway unlit: Mike Dolan
By Mike Dolan LONDON (Reuters) – Hold on to your hats. Central banks appear in no mind to rehabilitate the forward policy guidance prevalent before the pandemic and that’s forcing investors to…
Factbox-Global investment banks see yuan recovery in second half of 2024
SHANGHAI (Reuters) – Global investment banks see the yuan facing continued downside pressure in the first half of 2024 before turning around over the following six months on views that the U.S.…
Banks mask lending to polluters with PR greenwash, ECB blog says
FRANKFURT (Reuters) – Euro zone banks talking the most about climate change are the biggest lenders to polluting industries and use public relations noise to mask their support, a blog post by…
World Bank’s Banga calls for record replenishment of fund for poorest countries
By David Lawder (Reuters) – World Bank President Ajay Banga on Wednesday called on member countries to make the next replenishment of the lender’s fund for the world’s poorest countries the largest…
As Japan emerges from deflation, banks get wake-up call on interest rate swing
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – After decades of deflation, Japan’s economy looks poised to finally turn a corner. For its biggest banks, however, there’s a hitch: a generation…
Brazil central bank chief says bank’s autonomy challenges were overcome
BRASILIA (Reuters) – Brazil’s central bank chief, Roberto Campos Neto, said on Monday that the bank successfully overcame some challenges to its autonomy posed by the new administration of President Luiz Inacio…
Canadian banks prepare for shaky economy, more bad loans
By Nivedita Balu and Arasu Kannagi Basil TORONTO (Reuters) – Canadian banks had a mixed fourth quarter but a common theme underlining all the reports was the rise in bad loan provisions,…
Central banks ‘not out of the woods’ in inflation battle – BIS
By Marc Jones LONDON (Reuters) – Global central bank umbrella body, the BIS, eased its hardline stance on inflation on Monday, calling recent progress encouraging, but stressed that central banks were not…
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