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  • James Bullard

    The nation's megabanks need to be split up like the old AT&T monopoly in order to foster innovation, St. Louis Fed President Jim Bullard tells CNBC.

  • TORONTO, Feb 25- Canada's main stock index fell on Thursday as energy stocks sagged with oil prices, offsetting a rise in financials stocks following decent bank earnings. Canadian Natural Resources declined 2 percent to C $26.78, while TransCanada Corp fell 4.1 percent to C $48.72 and Enbridge Inc lost 2 percent to C $42.32. At 10:00 a.m. EST, the Toronto Stock...

  • WASHINGTON, Feb 25- New regulations have made the financial system safer but have also strengthened the market position of the largest banks and may discourage innovation, St. Louis Fed President James Bullard said on Thursday. After helping craft plans as a Treasury Department official to save the big banks during the financial crisis, Kashkari now thinks...

  • TORONTO, Feb 24- Royal Bank of Canada reported a weaker-than-expected profit on Wednesday as crashing oil prices spurred the lender to set aside more money to cover potential bad loans, and the company's stock price tumbled about 3 percent. Canada's second-largest bank by assets, also hurt by weakness in its insurance and capital markets units, said both bad...

  • WASHINGTON, Feb 25- New regulations have made the financial system safer but have also strengthened the market position of the largest banks and may discourage innovation, St. Louis Fed President James Bullard said on Thursday. "What we have done is ensconce the biggest banks as if they are going to be around 50 or 100 years from now," Bullard said.

  • Haven't solved too big to fail: Fed's Bullard

    James Bullard, St. Louis Fed president, shares his thoughts on breaking up big banks. What we're doing is protecting their position in the economy, says Bullard.

  • MOSCOW, Feb 25- Russia's state-controlled lender VTB is likely to base its forecast for 2016 financial results on an oil price of $30- $35 per barrel, a senior official at the bank said. Oil remains Russia's chief export and with natural gas amounts to almost half its fiscal revenue, so depressed prices impact the whole economy and therefore the fortunes of the...

  • Feb 25- Russia's state-controlled lender VTB might base its forecast for 2016 financial results on an oil price of $30- $35 per barrel, a senior official at the bank said in comments cleared for publication on Thursday. "Most probably, the new forecast will be announced as part of our 2015... results release in early March," said Dmitry Pyanov, head of VTB's financial...

  • LONDON, Feb 25- Lloyds Banking Group rewarded investors with a surprise 2 billion pound payout on Thursday, underlying its intent to be the biggest dividend payer among Britain's banks and its recovery after a state bailout. Despite weaker-than-expected fourth quarter profits of 1.6 billion pounds, Lloyds said it would pay a special dividend of 0.5 pence and...

  • BEIJING, Feb 25- China has granted six large banks quotas to issue asset-backed securities with non-performing loans as underlying assets, adding a fresh way for lenders to manage troubled loans, two sources with direct knowledge of the issue told Reuters. Bad loans at China's commercial banks swelled to a decade-high 1.27 trillion yuan in 2015 as growth in the...

  • SYDNEY, Feb 25- The decision by Australia's major banks to quit the country's $35 billion a year remittance business is driving fund-transfers underground, a trend exposing the country as a weak link in the global fight against money laundering and financial crime. Australia is particularly vulnerable to such moves because its "Big Four"- Westpac, Commonwealth...

  • BEIJING, Feb 25- China has granted six large domestic banks quotas to issue asset-backed securities with non-performing loans as underlying assets, two sources with direct knowledge told Reuters. The six banks are Industrial and Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd, Bank of China Ltd, Bank of Communications...

  • LONDON, Feb 25- Gains in European equities helped to steady currency markets on Thursday as sterling edged up from lows and the dollar trod water, with traders looking to Federal Reserve speakers later in the day for fresh direction on the U.S. rates outlook. A 6 percent fall in Shanghai's stock market did not carry over into Europe, where shares rebounded in early...

  • DUBAI, Feb 25- The government of Oman is in talks with banks about a sovereign dollar bond issue, sources aware of the matter said on Thursday, as the Gulf nation looks to tap international bond markets to shore up state finances pressured by low energy prices. With smaller oil and gas reserves than its wealthy Gulf neighbours and a higher cost of production, Oman is...

  • *Pressures greatest in Bahrain, Oman, much less in UAE. *Lack of data in Bahrain adds to jitters. DUBAI, Feb 25- U.S. dollars are becoming more difficult and expensive to obtain in Gulf money markets since Standard& Poor's sharply downgraded the sovereign credit ratings of three of the region's oil exporters last week, bankers say.

  • Central bankers are in a bind: PineBridge head

    Steven Oh, global head of credit and fixed income at PineBridge, discusses market liquidity problems and the limits of monetary policy.

  • KAGOSHIMA, Japan, Feb 25- Bank of Japan board member Takahide Kiuchi said the central bank may have exhausted steps to spur inflation and warned that the adoption of negative rates could bring more risks than rewards, highlighting a growing rift within the BOJ's board over the conduct of monetary policy. His remarks contrast with BOJ Governor Haruhiko Kuroda's...

  • SHANGHAI, Feb 25- China's yuan was flat against the dollar on Thursday as traders grew cautious ahead of a G20 meeting in Shanghai which is expected to discuss volatile currency and equity markets and signs of economic weakness throughout the world. The People's Bank of China set the midpoint rate at 6.5318 per dollar prior to the market open, weakening it for a...

  • DUBAI, Feb 25- Bank Muscat, Oman's largest lender by market value, is opening a representative office in Iran, the bank said on Thursday, underlining rapid growth in business ties between the countries after the lifting of sanctions on Tehran. The announcement appears to make Bank Muscat one of the first foreign financial firms to establish a presence in Iran...

  • U.S. shares are still in a bull market, despite recent volatility, Alan Robinson, global portfolio manager at RBC Wealth Management, told CNBC.

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