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…
Marketmind: Banks lob earnings into giddy markets
A look at the day ahead in U.S. and global markets from Mike Dolan Flush with hope that impressive disinflation will allow the Federal Reserve to end its rate-hike campaign this month,…
Australian banks say low unemployment is buffering home loans
By Byron Kaye SYDNEY (Reuters) – The CEOs of Australia’s two biggest banks said on Thursday a tight labour market was keeping late home loan repayments below historic levels even after a…
Jim Banks To Grill Military Academy Heads On Race-Based Admissions
Jim Banks To Grill Military Academy Heads On Race-Based Admissions Micaela Burrow on July 12, 2023 House lawmakers plan to grill leaders of the military service academies on their use of race-based…
Banks can manage outflow risk in Fed’s new payment service system, Mester says
By Michael S. Derby NEW YORK (Reuters) – Cleveland Federal Reserve President Loretta Mester said on Wednesday that the U.S. central bank’s new real-time money moving system is being designed in a…
G20 finance chiefs set to discuss reforms to development banks, crypto, debt
NEW DELHI (Reuters) – Finance ministers and central bank governors of the G20 member nations are set to meet and discuss reforms to multilateral development banks, a framework for crypto assets and…
Canada regulator proposes banks hold more capital to tackle mortgage risks
(Reuters) -Canada’s banking regulator on Tuesday proposed changes to capital adequacy guidelines that would require lenders and mortgage insurers to hold more funds to better manage risks from a sharp rise in…
S.Korea state-run banks join liquidity support effort for credit union
By Jihoon Lee SEOUL (Reuters) -South Korean state-run banks are providing at least two trillion won ($1.54 billion) of liquidity support to a credit union hit by customer withdrawals, joining commercial banks…
Collapsed Bank’s Former Owner Sues Federal Regulator For $2 Billion After Massive Bailout
Collapsed Bank’s Former Owner Sues Federal Regulator For $2 Billion After Massive Bailout Jason Cohen on July 10, 2023 California tech lender Silicon Valley Bank’s (SVB) parent company sued the Federal Deposit…
Analysis-China’s banks bear brunt of concerns around growth and debt
SHANGHAI/SINGAPORE (Reuters) – Chinese banks are facing increasing risks from rising non-performing loans (NPLs) and diminishing returns, making them a lightning rod for investors’ worries about the world’s second-largest economy. Concerns about…
Goldman’s China banks downgrade based on ‘pessimistic assumptions’ -state media
BEIJING (Reuters) – Goldman Sachs’ downgrade of some major Chinese lenders to “Sell” ratings is based on “pessimistic assumptions,” state-backed Securities Times said in an editorial on Friday, as worries over the…
Fed lending to banks eases a bit in latest week
NEW YORK (Reuters) – Federal Reserve lending to banks ebbed in the latest week, central bank data released Thursday said. Lending via the central bank’s discount window stood at $3.4 billion on…
ECB backs draft EU rules for winding down smaller banks
FRANKFURT (Reuters) – The European Central Bank on Thursday backed proposed new EU rules for closing down smaller banks when they fail, but said they should be more ambitious and apply across…
EMFX will hold gains into 2024 provided central banks hold rates: Reuters poll
By Vuyani Ndaba JOHANNESBURG (Reuters) – Emerging market currencies will hold on to gains into next year provided their respective central banks hold or only moderately prune already-high interest rates that have…
Britain’s banks seek government roadmap to tokenise stocks and bonds
By Huw Jones LONDON (Reuters) – Britain’s role as a leading financial centre is at stake unless it comes up with a roadmap for digital representations of stocks, bonds, loans and real…
Australian watchdog urges banks to move Indigenous clients into low-fee accounts
(Reuters) -Australia’s corporate regulator on Wednesday asked the country’s banks to disclose data on fees charged to Indigenous consumers after a review found they were not meeting targets for moving First Nations…
UK banks should not close accounts over customers’ politics, minister says
By Huw Jones and David Milliken LONDON (Reuters) – British banks should have to serve a customer even if they disagree with his or her lawful political views, and should apply anti-money…
Shein in talks with banks and exchanges about U.S. IPO-sources
By Echo Wang and Anirban Sen NEW YORK (Reuters) – China-founded online retailer Shein is working with at least three investment banks about a potential U.S. initial public offering, and has been…
UK’s Hunt backs regulator to ensure banks pass on better rates to savers
LONDON (Reuters) – British finance minister Jeremy Hunt gave his backing to the country’s financial regulator FCA to ensure banks are passing on better savings rates to consumers. “Increased interest rates must…
China’s PBOC asks foreign banks about dollar deposit rates amid weak yuan – sources
SHANGHAI/BEIJING (Reuters) – China’s central bank has surveyed some foreign banks in the past week about the interest rates they offer to their clients for dollar deposits, people familiar with the matter…
Global markets in H1: Banks vs the machines
By Marc Jones LONDON (Reuters) – The first six months of 2023 have been eventful for financial markets – from an artificial intelligence (AI) inspired tech stock surge, commodity market capitulations, cryptocurrency…
Analysis-Macro hedge funds down at half-year point, pin recovery hopes on central banks
By Carolina Mandl and Nell Mackenzie NEW YORK/LONDON (Reuters) – Many macro hedge funds that bet on global economic trends are ending the first half of 2023 with losses, but uncertainty around…
Fed’s lending to banks shrinks in latest week
(Reuters) – Federal Reserve lending to banks shrunk modestly in the latest week, central bank data released Thursday showed. The Fed lent banks $3.2 billion via its discount window as of Wednesday,…
Factbox-Big banks stand strong against Fed’s commercial real estate gloom
By Michelle Price WASHINGTON (Reuters) – Big U.S. banks’ commercial real estate portfolios put in a surprisingly good performance during the Federal Reserve’s annual health checks, with losses declining slightly on last…
Global central banks post losses on reserves in 2022; no quick recovery seen -survey
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Global central banks experienced losses managing their reserves last year amid bond-heavy allocations that took a major hit in 2022 following aggressive monetary policy tightening…
ECB’s Enria wants euro zone banks out of Russia faster
(Reuters) – The European Central Bank wants lenders to speed up their exit from Russia given the increased reputational, legal and financial risk of doing business there, supervisory chief Andrea Enria said…
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