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  • DENVER— A Colorado credit union is hoping a federal judge will intervene to let the booming marijuana industry move its finances from cash-stuffed suitcases to the regulated banking system. Federal Reserve and the National Credit Union Administration to deny applications from Fourth Corner Credit Union. But many large banks considered the guidelines...

  • ATHENS, July 31- Greece's stock market will reopen on Monday after a five-week shutdown caused by capital controls, but local investors will face restrictions aimed at stemming capital flight, a bourse spokeswoman said on Friday. The Athens Stock Exchange has been shut since June 29, when the government closed banks and imposed strict limits on withdrawals and...

  • ATHENS, July 31- Greece will make it a priority to recapitalise the nation's banks by the end of this year, probably using a bail-out fund to plug capital shortfalls, a Greek central bank official told Reuters on Friday. "It is most likely that the recapitalisation will occur like the last one, through a bank bailout fund," he said, referring to a previous cash injection...

  • LONDON, July 31- New Bank of England policymaker Gertjan Vlieghe said on Friday that he would sever all links with his previous employer, one of the world's biggest hedge funds, to avoid "any mistaken impression" of a conflict of interest. Vlieghe had wanted to stay part of a long-term incentive plan at Brevan Howard, where he was a partner, after he joins the BoE's...

  • FRANKFURT, July 31- Deutsche Bank is freezing 2015 cash bonuses for current and former management board members while German regulator BaFin reviews the bank's role in an interest rate manipulation scandal, two people familiar with the matter said. Deutsche Bank has been hit with over 9 billion euros in fines and settlements in the past three years, including a...

  • LONDON, July 31- Steep falls in emerging market currencies have jolted central bankers across the developing world into action to try and stem the weakness. A JPMorgan index tracking 22 emerging market currencies traded at a record low 71.3 on Friday, and with the U.S. "Central bankers in emerging markets are finally waking up to the fact their currencies may test...

  • FRANKFURT, July 31- Deutsche Bank is freezing 2015 cash bonuses for its executive board as it examines whether some managers could have done a better job at avoiding problems that led to expensive litigation, a person familiar with the matter said. The bonus freeze hits all members of the management board except Deutsche Bank's new Chief Executive John Cryan,...

  • WARSAW, Poland— A Polish court is looking into the management of a popular credit union after an audit revealed it is in the red. The Constitutional Tribunal is analyzing whether regulations running the SKOK credit union ensure the security of deposits made by some 2 million of its members. Last week Finance Minister Mateusz Szczurek said that the entire SKOK is...

  • NEW YORK, July 31- As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market are not waiting around. Banks, money market mutual funds and other investors do not want to be stuck with low-yielding debt when the U.S. central...

  • BEIJING, July 31- China plans to set up a state-backed credit guarantee firm to offset some of the risks faced by banks and spur lending where it is needed in a cooling economy, the cabinet said on Friday. As in other countries, small businesses in China have a hard time getting loans from banks as they are deemed to be riskier borrowers than their bigger peers.

  • Who needs the Fed? The rate hike cometh on its own Friday, 31 Jul 2015 | 8:00 AM ET

    NEW YORK, July 31- As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market aren't waiting around. Banks, money market mutual funds and other investors want to avoid being stuck with low-yielding debt when the U.S....

  • Italian bank Intesa SanPaolo Q2 profits soar Friday, 31 Jul 2015 | 7:57 AM ET

    MILAN— Second-quarter earnings at Italian bank Intesa SanPaolo more than quadrupled thanks to lower provisions amid signs of economic recovery and an improved credit market. Italy's second-largest bank by assets reported Friday net income of 940 million euros for the quarter, up from 217 million euros in the same period last year. Intesa SanPaolo said it...

  • Russia's central bank cuts key interest rate Friday, 31 Jul 2015 | 7:09 AM ET

    MOSCOW— The Russian central bank cut its key interest rate by 0.5 percentage points to 11 percent on Friday, bowing to the pressure of businesses to make lending more accessible. Moscow- based investment bank Sberbank CIB said in a note to investors that Friday's 0.5 percentage cut is not as big as anticipated, indicating that the central bank wants to "play it safe"...

  • *BBVA posts solid Q2 results, helped by Spain rebound. MADRID, July 31- A combination of acquisitions in its home market and a strong performance in Mexico helped Spanish bank BBVA increase revenues and profits in the first half of the year, showing the benefits of a growth strategy many local rivals are now looking to emulate. Even BBVA, which like local rival...

  • BEIJING, July 31- Chinese commercial banks still have room to lower banking fees, the country's top economic planner said on Friday.

  • Lloyds bank first half net income up 15 percent Friday, 31 Jul 2015 | 4:35 AM ET

    LONDON— Lloyds Banking Group says first-half net income rose 18 percent to 677 million pounds as the government-backed bank accelerated its recovery from the financial crisis. The bank, bailed out by taxpayers in 2008, disclosed Friday that the government's stake had been reduced to just 15 percent from as much as 43 percent. CEO Antonio Horta-Osorio said in a...

  • LONDON, July 31- The dollar steadied near a one-week high against a basket of currencies on Friday and was on track for an almost 2 percent monthly rise, with the latest U.S. growth data supporting the case for the Federal Reserve to raise interest rates this year. "Expectations of a September rate hike were probably marginally firmed up on the growth data but it...

  • Swiss central bank reports hefty 2nd-quarter loss Friday, 31 Jul 2015 | 2:41 AM ET

    BERLIN— Switzerland's central bank is reporting a hefty loss for the second consecutive quarter after its decision to drop a cap on the franc's value against the euro sent the national currency soaring higher. The Swiss National Bank said Friday it lost 20 billion francs in the April-June period, nearly 18 billion francs of that on foreign-currency positions...

  • HONG KONG/ SHANGHAI, July 31- Agricultural Development Bank of China, one of China's main policy lenders, and other development banks will issue over 1 trillion yuan of new bonds in coming years to fund lending for infrastructure projects, three people with direct knowledge of the plans told Reuters. The bonds will be issued in multiple tranches, the first as soon...

  • For Singapore banks, will the rise in NIMS last? Friday, 31 Jul 2015 | 12:52 AM ET
    For Singapore banks, will the rise in NIMS last?

    Matthew Phan, analyst, Asia-Pacific Banks at Creditsights, explains why the boost in net interest margin securities (NIMS) among Singapore banks will be sustainable.

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