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…
Banks’ solvency key to ECB opinion on proposed Spanish tax
By Jesús Aguado MADRID (Reuters) – The European Central Bank could issue a non-binding opinion on the proposed tax on Spanish banks in the coming days or weeks after assessing its impact…
Big Chinese banks pledge enhanced support for economy as Xi sounds call for growth
BEIJING (Reuters) – China’s six largest state-owned banks vowed they will enhance support to the slowing economy, in response to President Xi Jinping’s call for a high-quality economic growth at the opening…
Fed solicits feedback on potential new requirements for large regional banks
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve announced on Friday it was soliciting feedback on potentially imposing new requirements on how to resolve large regional banks should they falter,…
IMF urges most Asian central banks to tighten policy further
By Leika Kihara WASHINGTON (Reuters) – Most Asian central banks must tighten monetary policy further as rising commodity prices and their currencies’ depreciation, driven by steady U.S. interest rate hikes, push inflation…
Banks should manage heightened risks from crypto firm deposits –Fed’s Barr
By Hannah Lang (Reuters) -Banks that accept deposits from cryptocurrency companies should be aware of increased liquidity risks, particularly if firms are highly interconnected with other digital asset businesses, said Michael Barr,…
Rate hikes to have limited impact on Indian banks’ profits – Moody’s
BENGALURU (Reuters) – The Reserve Bank of India’s slew of rate hikes this year to combat surging inflation will help lift banks’ net interest margins, but the increase will be limited as…
Philippines central bank’s policy settings remain accommodative, says governor
MANILA (Reuters) – The Philippines central bank’s monetary policy settings remain accommodative, its governor said on Wednesday. Bangko Sentral ng Pilipinas Governor Felipe Medalla also told a banking forum bringing inflation back…
Central banks still U.S. bond buyers – but FX campaigns may jar: McGeever
By Jamie McGeever ORLANDO, Fla. (Reuters) -An apparent rundown of global foreign exchange reserves this year is just a mirage related to U.S. dollar strength – but the real thing may yet…
Swiss National Bank’s Jordan says central bank independence vital to fight inflation
ZURICH (Reuters) – Central banks need to resist political pressure to slow monetary policy tightening as they hike interest rates to fight resurgent inflation, Swiss National Bank Chairman Thomas Jordan said on…
World Bank’s Malpass, IMF’s Georgieva see rising risks of global recession
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession…
EU takes step to ease proposed curbs on foreign banks, document shows
By Huw Jones LONDON (Reuters) – Foreign bank branches in the European Union would not automatically become a costlier subsidiary if their business reached a certain “systemic” size, the Czech EU presidency…
Swiss National Bank’s Maechler says further rate hikes ‘quite possible’
ZURICH (Reuters) – The Swiss National Bank is prepared to raise interest rates further to tackle inflation after its recent 75-basis-point hike, SNB Governing Board member Andrea Maechler said on Wednesday. “It…
Rate hike bonanza among major central banks hits two decade peak in September
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – Major developed central banks delivered in September rate hikes at a pace and scale not seen in at least two decades, ramping up…
U.S. pension rebalancing could boost bonds, international stocks, banks say
By David Randall NEW YORK (Reuters) – U.S. fixed income and international equities could benefit from quarter-end rebalancing as pension funds square their books after a brutal three months for most asset…
China’s smaller banks cut deposit rates to ease margin pressure
BEIJING/SHANGHAI (Reuters) – A string of small and mid-sized Chinese banks are following their larger peers and cutting deposit interest rates in the first broad-based move since 2015 to ease pressure on…
Exclusive-China’s state banks told to stock up for yuan intervention-sources
By Julie Zhu HONG KONG (Reuters) -China’s central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts…
Sweden and other central banks to test digital currency payments
OSLO (Reuters) – The Swedish, Norwegian and Israeli central banks have launched a project with the Bank for International Settlements to test international retail and remittance payments with central bank digital currencies,…
Saudi Arabia’s wealth fund hires banks for debut green bonds
By Yousef Saba DUBAI (Reuters) -Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche U.S. dollar-denominated green…
Banks in the euro zone will have to raise provisions to cope with economic slowdown
MADRID (Reuters) – Banks in the euro zone will have to raise provisions to cope with the consequences of the economic slowdown due to the fallout from Russia’s war in Ukraine, ECB…
Market split on Colombia central bank’s next rate decision
By Nelson Bocanegra BOGOTA (Reuters) – Analysts are split between those who expect Colombia’s central bank to moderately raise its benchmark interest rate next week and others who foresee a hike in…
Russian banks lost around $25 billion from Ukraine conflict – central bank official
(Reuters) – Russia’s banks have lost an estimated 1.5 trillion roubles ($25.5 billion) as a result of the fallout from the conflict in Ukraine, a central bank official said on Friday. Maxim…
Gulf central banks raise rates after Fed’s third big hike in a row
DUBAI (Reuters) – Gulf central banks raised their key interest rates on Wednesday after the U.S. Federal Reserve delivered its third consecutive three-quarter percentage point hike, with Brent dropping below $90 immediately…
Lebanon banks remains shut after spree of holdups
BEIRUT (Reuters) – Lebanon’s banks will remain shut indefinitely, the country’s banking association said in a statement on Wednesday, citing ongoing “risks” to employees following a spree of bank stick-ups last week.…
African banks face ‘very difficult’ 12-18 months, Fitch official says
ACCRA (Reuters) – The next 12 to 18 months will be “very difficult” for African banks as widespread inflation, currency devaluations and interest rate hikes sweep the region, a senior director of…
U.S. expects more banks will cut off Russian payment system Mir – senior official
WASHINGTON (Reuters) – Steps that Turkish lenders Isbank and Denizbank took to suspend the use of Russian payment system Mir make a lot of sense, a senior U.S. administration official said on…
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