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…
Wall Street banks’ staff churn to double this year after bonus payouts – experts
By Elizabeth Dilts Marshall NEW YORK – Staff turnover on Wall Street is set to surge in coming weeks as investment bankers who held off job-hunting during the pandemic cash in their…
Swiss gov’t proposes public liquidity backstop for big banks
ZURICH – The Swiss government wants to set up a new backstop allowing the provision of state-guaranteed cash should one of the country’s big banks fail, it said on Friday, as it…
U.S. ethanol industry banks on carbon capture to solve emissions problem
By Leah Douglas – U.S. ethanol producers are betting heavily on carbon capture and storage (CCS) technology to lower their greenhouse gas emissions and secure a place for the corn-based fuel in…
Factbox-U.S. banks in Russia by the numbers
NEW YORK – Major U.S. banks have started announcing plans to wind down operations in Russia in the wake of its invasion of Ukraine and retaliatory sanctions. On Thursday, Goldman Sachs Group…
Central banks rush to stimulus exit as inflation jumps, wary of Ukraine fallout
LONDON – The European Central Bank’s announcement on Thursday that it plans to end stimulus in the third quarter of 2022 shows that policymakers across the developed world remain laser-focused on inflation,…
Explainer-The extent of global banks’ Russian exposure
By Valentina Za MILAN – European bank stocks have lost a fifth of their value over the past month amid the Ukraine crisis. Western sanctions against Russia following its invasion of Ukraine…
EU imposes sanctions on more Russians, adds Belarus banks to list
BRUSSELS – The European Union said on Wednesday it was stepping up sanctions over Russia’s invasion of Ukraine, including targeting more Russian individuals and adding banks in Moscow’s ally Belarus. The 27-nation…
Banks in talks with distressed buyers on Russian assets – sources
By Davide Barbuscia and Yoruk Bahceli NEW YORK/LONDON – Banks are having conversations with potential buyers on how to get rid of their exposure to Russian corporate loans, but sanctions fears and…
Explainer-The extent of global banks’ Russian exposure
By Valentina Za MILAN – European bank stocks have lost a fifth of their value since Russia invaded Ukraine last month. Western sanctions against Moscow have upended the financial sector, but the…
At the top of Europe’s banks, it’s still a man’s world
By Brenna Hughes Neghaiwi and Tom Sims ZURICH/FRANKFURT – Women remain rare visitors to the highest echelons of European banks. The 25 biggest banks by assets have seen 22 changes in chief…
Governments urged to give banks more detail on Russian sanctions
By Huw Jones LONDON – Banks need to be given more guidance on how to sever ties with Russia because they have never before had to process sanctions on a country so…
Russian banks rush to switch to Chinese card system
– Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator’s system coupled with Russia’s own Mir network, after Visa and MasterCard said they…
Analysis-Global banks face costly, arduous process to exit Russia
By Matt Scuffham and Megan Davies NEW YORK – Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions…
War in Ukraine puts pressure on East European banks to prop up sinking currencies
By Gergely Szakacs and Alan Charlish BUDAPEST/WARSAW -Russia’s invasion of Ukraine is putting pressure on central banks along the European Union’s eastern flank to prop up their weakening currencies, forcing Czech and…
Explainer-Which international banks are exposed to Russia?
By Valentina Za MILAN – The latest wave of sanctions on Russia over its invasion of Ukraine has thrown the global banking industry deeper into turmoil, as Western countries try to squeeze…
Explainer-Russian banks isolated, UK cuts insurance ties with Moscow
By Huw Jones and Tommy Wilkes LONDON – Britain will ban Russian companies from London’s multi-billion dollar aviation and space insurance market, the latest restrictions Western allies are imposing to isolate Russia…
EU considering SWIFT exclusion for Belarus banks – official
BRUSSELS – The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has already done for seven Russian banks, an…
Analysis-Chinese banks scramble for ‘workarounds’ as Russia sanctions impinge
By Engen Tham and Julie Zhu – Top Chinese banks are rushing to ensure they can maintain business ties with Russian clients without running afoul of a barrage of Western sanctions, people…
Russian central bank to hold daily auctions to help banks manage liquidity
MOSCOW – Russia’s central bank said on Wednesday that it would hold daily 3 trillion rouble ($28.31 billion) repo and deposit auctions to help lending institutions manage their liquidity and keep overnight…
Explainer-Russian banks out in the cold as EU unveils SWIFT sanctions
By Tommy Wilkes and Huw Jones LONDON – The European Union is excluding seven Russian banks from the SWIFT messaging system that underpins global payment transactions as the West ratchets up sanctions…
Global banks eschew risk as they navigate Russia sanctions quagmire
By Michelle Price and Sumeet Chatterjee WASHINGTON/HONG KONG – Faced with an unprecedented level of sanctions on Russia, global banks are taking a dim view of business with all Russian entities and…
Bank of Italy says it is ending COVID-related relief measures for banks
MILAN – The Bank of Italy said on Tuesday it would remove a number of relief measures on banking requirements that had been introduced to help lenders through the COVID-19 crisis. The…
U.S. banks’ Russia exposure unclear; risk of long-term impacts – analysts
By Elizabeth Dilts Marshall NEW YORK – U.S. banks’ exposures to Russia may not be fully understood by investors due to a lack of transparency in disclosures made so far, and banks…
Banks talking with government for clarity on sanctions -Dimon
NEW YORK – Major banks are talking with government officials to be clear on how sanctions against Russia should work, JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Monday.…
Russians queue for cash as West targets banks over Ukraine
MOSCOW/LONDON – Russians waited in long queues outside ATMs on Sunday, worried that new Western sanctions over Moscow’s invasion of Ukraine will trigger cash shortages and disrupt payments. Moves to block some…
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