Comerica forecasts weak interest income as deposit costs rise, loan growth slows
(Reuters) – Comerica on Friday forecast an 11% drop in its net interest income (NII) in 2024, as it pays more interest on deposits to keep customers from moving to other options,…
Citigroup expects ECB to take deposit rate to 4% by July this year
(Reuters) – Citigroup expects the European Central Bank to hike rates by 50 basis points each in March and May to push its policy rates to about 4% by July. Economists led…
Citi’s high deposit betas to squeeze interest margins – Moody’s
By Mehnaz Yasmin (Reuters) – Citigroup Inc may see more net interest margin (NIM) pressure than the other four big U.S. banks this year due to its high deposit betas, or the…
Biden Admin Blocks Mining Of ‘World’s Largest Undeveloped’ Ore Deposit As It Pushes Copper-Heavy EVs, Wind Turbines
Biden Admin Blocks Mining Of ‘World’s Largest Undeveloped’ Ore Deposit As It Pushes Copper-Heavy EVs, Wind Turbines Bronson Winslow on January 31, 2023 The Biden Administration’s Environmental Protection Agency (EPA) issued a final…
Turkey extends FX-protected lira deposit scheme for a year
ISTANBUL (Reuters) – Turkey extended by a year a scheme that had it adopted in the throes of a 2021 currency crisis which protects lira deposits from depreciation versus hard currencies. A…
ECB to raise deposit rate by 50 bps on Dec 15 as bloc enters winter recession: Reuters Poll
By Jonathan Cable LONDON (Reuters) – The European Central Bank will take its deposit rate up by 50 basis points next week to 2.00%, despite the euro zone economy almost certainly being…
Bank deposit rates lag changes in Fed policy rate, NY Fed analysts say
NEW YORK (Reuters) – U.S. savers are being left behind by the Federal Reserve’s aggressive campaign of interest rate rises, and that’s unlikely to change soon. New research from the New York…
ECB set to raise deposit rate 50 bps as euro zone enters recession -economists: Reuters poll
By Jonathan Cable LONDON (Reuters) – The European Central Bank will press on with policy tightening, adding 50 basis points to its deposit rate next month as it worries rapid price growth…
Biden taps Federal Deposit Insurance Corporation chair
WASHINGTON (Reuters) – U.S. President Joe Biden has tapped Martin Gruenberg to serve as chairman of the board of directors of the Federal Deposit Insurance Corporation, the White House said on Monday.…
Qatar central bank raises deposit rate to 4.5%
(Reuters) – Qatar’s central bank said on Wednesday it will increase its interest rates by between 50 and 75 basis points, following the U.S. Federal Reserve’s latest rate hike. The Central Bank…
ECB raises deposit rate to 1.5%, highest since 2009
FRANKFURT (Reuters) – European Central Bank raised interest rates for the third meeting in a row on Thursday and signalled an intention to start mopping up cash from the banking system to…
Private firms, foundations to deposit $1 billion at minority, community lenders-Treasury
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury will announce on Tuesday that a coalition of private firms and foundations will deposit $1 billion into minority-owned and community development financial institutions…
China’s smaller banks cut deposit rates to ease margin pressure
BEIJING/SHANGHAI (Reuters) – A string of small and mid-sized Chinese banks are following their larger peers and cutting deposit interest rates in the first broad-based move since 2015 to ease pressure on…
Changes to India’s Standing Deposit Facility Rate since April 2022
MUMBAI – The Reserve Bank of India’s key policy repo rate was raised by 50 basis points on Friday, the third increase in the current cycle to cool stubbornly high inflation that…
World Bank accuses Lebanese politicians of cruelty over deposit promises
BEIRUT -The World Bank accused Lebanese politicians of being cruel by asserting that deposits in the country’s collapsed banking sector are sacred, saying such slogans “flagrantly contradict the reality” in a report…
FDIC urges banks to police misleading crypto claims on deposit insurance
WASHINGTON – A U.S. banking regulator is urging banks dealing with cryptocurrency companies that they need to make sure customers know which of their funds will be insured by the government in…
New York Man Admits Scheme to Deposit Over $550,000 in Altered Checks Stolen from Mail
NEWARK, N.J.– A New York man today admitted his role in a scheme to alter and deposit hundreds of checks stolen from mailboxes across New Jersey, U.S. Attorney Philip R. Sellinger announced.…
ECB to hike deposit rate 25 bps in July, ditch negative rates by end-September: Reuters poll
By Swathi Nair BENGALURU – The European Central Bank is expected to raise the deposit rate for the first time in over a decade in July and bring it out of negative…
Some Chinese state banks will cut deposit rates on Monday – sources
SHANGHAI – Some Chinese state banks, such as Bank of China and Bank of Communications, will cut deposit rate ceilings on Monday, joining smaller lenders, sources told Reuters. The planned cuts come…
Lira deposit scheme payouts loom as Turkey juggles finances
By Orhan Coskun and Nevzat Devranoglu ANKARA – A scheme that protects the value of lira deposits has helped Turkey prop up the ailing currency, but payouts from it look set to…
Russian central bank raises 1.4 trln roubles at 1-day deposit auction
– Russia’s central bank on Monday said it had raised 1.4 trillion roubles ($12.44 billion) at one-day “fine-tuning” deposit auction. The bank earlier on Monday provided banks with 2.1 trillion roubles at…
Hungary central bank raises one-week deposit rate by 30 bps to 4.6%
BUDAPEST – Hungary’s central bank raised its one-week deposit rate by 30 basis points to 4.6% at a weekly tender on Thursday, as expected, two days after it raised its base rate…
ECB to raise deposit rate to -0.25% by year-end- Reuters poll
By Shrutee Sarkar BENGALURU – The European Central Bank will raise its deposit rate in the second half of this year, and not wait until 2023 as previously expected, according to a…
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