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…
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 gear, including UBS and Deutsche Bank, a…
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 bank lobby warned on Monday. Europe’s largest…
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 in the Russian or Belarusian rouble over…
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 in a warning on Friday about potential…
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 instant payment system, underscoring mounting risks from…
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 two interrelated conspiracies to suppress competition in…
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 as Russia’s invasion of Ukraine and the…
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 change. On Wednesday, the U.S. Federal Deposit…
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 sheets if the economy turns south or…
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 on lenders needs to be watched, the…
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 Tuesday in a warning sign bond investors…
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 introduced last week at a yield of…
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 purpose vehicles. The withdrawals are for sanction-related…
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 new fossil fuel projects, according to a…
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 onset of the coronavirus pandemic, the ECB…
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 other international banks since Moscow’s invasion of…
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 10,000 hryvnias ($341.88) to Polish zloty starting…
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 task of unwinding their businesses there. Some…
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 careful and sceptical approach for fear of…
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 obligations to anxious clients and staff while…
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 Wall Street banks after the Federal Reserve…
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 estimates, as sanctions on Russia give a…
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 Act robbery and multiple armed bank robberies.…
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 began a monetary tightening cycle in a…
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 to banking licenses in Russia for the…
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