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…
Hungarian govt wants banks cap loan rates below central bank’s benchmark rate
BUDAPEST (Reuters) – Hungary’s government has asked banks to impose a voluntary cap on interest rates on new loans for households and companies from Oct. 9 to boost lending and support economic…
Top central banks’ rate hike push fizzles out in September, EM parts ways
By Karin Strohecker and Sumanta Sen LONDON (Reuters) – Central banks across major developed economies delivered what looked like a last gasp set of rate hikes in September, while economies in both…
US CFTC orders 3 major US banks to pay over $50 million for swap reporting failures
By Kanishka Singh WASHINGTON (Reuters) -The U.S. Commodity Futures Trading Commission on Friday ordered Goldman Sachs, Bank of America and JPMorgan to pay a total of over $50 million to settle charges…
Singapore’s central bank looking into banks’ role in $1.8 billion money laundering case
By Yantoultra Ngui SINGAPORE (Reuters) – Singapore’s central bank said on Tuesday it was looking into whether banks involved in a S$2.4 billion ($1.75 billion) money laundering scandal in the global wealth…
Banks in EU largely comply with ‘Basel Endgame’, says watchdog
By Huw Jones LONDON (Reuters) – European Union banks already largely meet tougher global capital rules to bolster defences against economic crises and now only need to find another 600 million euros…
Turkish central bank’s net reserves seen rising more than $6 billion as policy U-turn continues – bankers
By Nevzat Devranoglu ANKARA (Reuters) – The Turkish central bank’s net international reserves rose by more than $6 billion last week to about $24 billion, four bankers said on Tuesday, resuming an…
‘Quiet Crisis’: Food Banks Are Inundated With Requests For Aid As Inflation Bites
‘Quiet Crisis’: Food Banks Are Inundated With Requests For Aid As Inflation Bites Will Kessler on September 25, 2023 Food banks across the U.S. are reporting a massive uptick in demand as…
Larger Italian banks still seen paying one-off tax despite opt-out offer
By Valentina Za MILAN (Reuters) – Italy’s larger banks are still expected to pay a one-off banking tax despite the government at the weekend offering lenders a way out in return for…
Not much exciting about Aussie banks as high costs pressure earnings – Macquarie
(Reuters) – Rising wage costs and higher investment spending by Australian banks pose headwinds that could potentially impact the sector’s earnings by up to 10% in the near term, analysts at Macquarie…
EU watchdog scrutinises banks’ defences after SVB, Credit Suisse woes
By Huw Jones LONDON (Reuters) – Most leading euro zone banks have met a January 2024 target for issuing special debt to replenish capital in a crisis, but some need to do…
A tale of two central banks as Uruguay rises and Argentina slides
By Lucinda Elliott MONTEVIDEO (Reuters) – Diego Labat, Uruguay’s central bank chief, is sitting pretty. Inflation is at the lowest level in nearly two decades, the currency is one of the region’s…
Euro zone banks to repay 34 billion of ECB loans
FRANKFURT (Reuters) – Euro zone banks will repay early another 34.2 billion euros in multi-year loans from the European Central Bank, shedding central bank liquidity as borrowing costs rise, ECB data showed…
New Zealand banks to introduce new measures to prevent scams
By Lucy Craymer WELLINGTON (Reuters) – New Zealand banks on Friday said they would introduce new steps to counter scams targeted at its customers including establishing a national Anti-Scam centre, combining resources…
Turmoil showed top level failures at banks, global watchdog says
By Huw Jones LONDON (Reuters) – This year’s bank turmoil showed some boards and senior management failed in their most basic responsibilities and more regulatory guidance may be needed, a global watchdog…
China cuts banks’ reserve ratio for second time in 2023 to aid recovery
BEIJING (Reuters) -China’s central bank said on Thursday it would cut the amount of cash that banks must hold as reserves for the second time this year to boost liquidity and support…
Sri Lanka bondholders talks focus on state enterprise debt, domestic banks – sources
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – Talks between Sri Lanka and its international bondholders will seek common ground on how much of a hit should be incurred by…
Central banks still scooping up beaten-down Treasuries: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) -If you view global central banks’ and reserve managers’ appetite for U.S. Treasuries through a value-adjusted lens, official sector demand for U.S. government bonds still looks…
Exclusive-China asks big banks to stagger and adjust dollar purchases – sources
SHANGHAI (Reuters) -China’s central bank has asked some of the country’s biggest lenders to refrain from immediately squaring their foreign exchange positions in the market, and to run open positions for a…
UK watchdog to ‘ramp up’ checks on how banks assess risks
By Huw Jones LONDON (Reuters) – Britain’s financial watchdog told banks on Friday it would “ramp up” checks on whether they were properly assessing and managing risks from large customers to avoid…
North Jersey Scammer Defrauded Banks Out of $1 Million in Bogus Loans
NEWARK, N.J. – Cabral Simpson, a 46-year-old man from Orange, New Jersey, pleaded guilty to conspiring to commit wire fraud. U.S. Attorney Philip R. Sellinger announced the plea, which was made before…
Goldman, Morgan Stanley to shine amid struggle for large-cap banks – HSBC
By Aniruddha Ghosh (Reuters) – Goldman Sachs and Morgan Stanley are poised for stronger results next year compared to other large-cap U.S. banks as dealmaking on Wall Street picks up and asset…
Analysis-US banks hold $3.3 trillion cash amid banking crisis, slowdown worries
By Saeed Azhar and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) – U.S. lenders are holding onto large piles of cash as insurance against a slowing economy, continuing deposit outflows and looming tougher…
Credit Suisse collapse led balance sheet of Swiss banks to contract
(Reuters) – Credit Suisse clients withdrawing their money as the bank headed for collapse likely accounts for the first significant balance sheet contraction in a decade for all banks in Switzerland, a…
Hedge funds drop short trades on U.S. regional banks – Goldman
By Nell Mackenzie LONDON (Reuters) – Hedge funds ditched short bets against U.S. regional banks as of the end of August and turned bullish on the broader U.S. financial sector, according to…
Russia says it won’t let foreign banks leave easily
MOSCOW (Reuters) – Russian Deputy Finance Minister Alexei Moiseev said on Friday that the government would not allow foreign banks to leave Russia easily. “We have stated our position and it stands…
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