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…
UK finance minister Hunt says banks are slow to pass on rate hikes to savers
LONDON (Reuters) – Britain’s finance minister Jeremy Hunt said on Monday that banks are too slow to pass on increases in central bank interest rates to savers and this is a problem…
Factbox-Recent policy decisions from Latin America’s central banks
MEXICO CITY (Reuters) – A stubborn surge of inflation has led central banks worldwide to adapt monetary policy to protect people and businesses from price increases, with many raising interest rates in…
Big central banks are still hiking rates but eye the end
LONDON (Reuters) – Inflation is cooling, meaning major central banks can start to think about ending interest rate hikes even if most are not there just yet. The Bank of England, an…
Marketmind: Dogged central banks rein in risk
A look at the day ahead in U.S. and global markets from Mike Dolan Even if investors sense light at the end of the tunnel, Western central banks are clearly not finished…
US imposes sanctions on Myanmar’s defense ministry, two banks -Treasury website
WASHINGTON (Reuters) – The United States on Wednesday levelled sanctions against Myanmar’s Ministry of Defense and two banks used by the Southeast Asian country’s military to purchase arms and other goods in…
Paris finance summit to push development banks to take on more risk -draft
By John Irish PARIS (Reuters) -Leaders meeting this week at a summit in Paris are set to back a push for multilateral development banks like the World Bank to put more capital…
Marketmind: Markets lose steam, central banks not helping
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A deepening sense of caution descends over Asian markets as the trading…
Canada financial regulator lifts stability buffer for big six banks
By Nivedita Balu and David Ljunggren TORONTO (Reuters) -Canada’s financial regulator on Tuesday said it was raising the amount of capital the country’s biggest lenders must hold as a stability buffer by…
Deutsche Bank’s new retail boss primed for sector shake-up
By Tom Sims FRANKFURT (Reuters) – Deutsche Bank’s new retail boss wants to get cyber-savvy youth into bank branches and put the bank at the heart of communities, a bold vision in…
South Korea to gradually normalise regulations on banks from H2
SEOUL (Reuters) – South Korea will gradually unwind relaxed regulations on banks from the second half of this year, the country’s financial regulator said on Tuesday. In a statement, the Financial Services…
New Zealand to investigate profitability, competition at banks
SYDNEY (Reuters) – New Zealand said on Tuesday it would examine the profitability of the country’s banks and investigate whether competition in the sector was working well for consumers. The banking sector…
Saudi Central Bank may need to inject liquidity into banks – Capital Economics
DUBAI (Reuters) – The Saudi Central Bank, known as SAMA, may need to inject liquidity into the banking sector like it did last year as interbank rates sit at their highest since…
US banks have strengthened liquidity after spring turmoil but must remain vigilant -regulator
By Pete Schroeder WASHINGTON (Reuters) – A top U.S. bank regulator said on Wednesday that while banks have strengthened their liquidity after the spring banking crisis, firms must remain on guard for…
Global investment banks rush to cut yuan forecasts
SHANGHAI (Reuters) – Global investment houses have rushed to downgrade forecasts for the Chinese yuan after it weakened past the closely watched 7 per dollar level, pressured by widening yield differentials with…
World Bank’s new chief Banga to sharpen focus on projects with measurable impact
By David Lawder LIMA (Reuters) – World Bank President Ajay Banga wants the lender to focus on more “scalable, replicable” projects across Latin America and elsewhere for transport and infrastructure and digitization…
Central banks shelve guidance, in fits and starts, as inflation reigns
By Howard Schneider, Leika Kihara, Balazs Koranyi and William Schomberg (Reuters) – Central bankers, who once considered obscurity central to their craft, are trying to wean the world from the predictability they’ve…
US minority-owned banks withstand industry turmoil, executives say
By Nupur Anand NEW YORK (Reuters) – Minority-owned banks in the U.S. have stayed resilient during this year’s industry turmoil thanks in part to government and industry support, despite concerns that they…
Rep. Jim Banks Leaves Top Biden Administration Official Stammering Over Child Labor Crisis
Rep. Jim Banks Leaves Top Biden Administration Official Stammering Over Child Labor Crisis Arjun Singh on June 7, 2023 Acting Labor Secretary Julie Su, whose nomination to the position has been held…
World Bank’s new chief asks staff to ‘double down’ on development, climate efforts
By David Lawder WASHINGTON (Reuters) – The World Bank’s new president Ajay Banga on Friday asked the lender’s 16,000 staff to “double down” on development and climate efforts as he seeks to…
Banks stocks gain after US Congress averts historic debt default
(Reuters) – Shares of U.S. banks rose on Friday after the U.S. Senate on Thursday passed bipartisan legislation that lifted the government’s $31.4 trillion debt ceiling and averted a historic default. Shares…
Liz Warren, JD Vance Join Forces To Punish Execs Of Failed Banks
Liz Warren, JD Vance Join Forces To Punish Execs Of Failed Banks Mary Lou Masters on June 1, 2023 Democratic Massachusetts Sen. Elizabeth Warren and Republican Ohio Sen. J.D. Vance are uniting…
Fed emergency lending to banks ticks down in latest week
(Reuters) – Federal Reserve emergency lending to banks edged down in the latest week, driven by a decline in “other credit” to government wind-downs of failed banks, to $188.1 billion on Wednesday…
Pakistan central bank’s forex reserves fall $102 million to $4.09 billion in week ended May 26
KARACHI, Pakistan (Reuters) – Pakistan’s central bank foreign reserves decreased by $102 million to $4.09 billion due to external debt payments during the week ended May 26, the central bank said in…
Major central banks renew rate hike push in May
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The pace of interest rate hikes across major central banks showed little sign of slowing in May but the scale of the tightening…
Column-U.S. banks tighten lending standards to small business and consumers: Kemp
By John Kemp LONDON (Reuters) – U.S. domestic banks reported a widespread tightening of lending standards by the end of the first quarter of 2023 – even before the full impact of…
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