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  • BEIJING, Feb 6- China's central bank reiterated that it will maintain a prudent monetary policy and guard against systemic financial risks in its fourth-quarter monetary policy report published on Saturday.

  • SAO PAULO, Feb 5- Itaú Unibanco Holding SA, Brazil's largest private-sector bank, has for years traded at a premium to rival Banco Bradesco SA but many investors are betting the gap will narrow amid sharply diverging outlooks from the lenders. With Brazil facing its longest recession in a century, the banks' share prices will depend on how they navigate a slew of...

  • The value of those loans will have to be written down even further, and bank profits are going to take a hit, the credit agency Moody's said in a report issued Friday. The loans on the balance sheets of the biggest banks on Wall Street— JPMorgan Chase, Goldman Sachs, Citigroup, Morgan Stanley, Wells Fargo and Bank of America— represent only a small percentage of these...

  • MILAN— Italian banking shares are getting battered this year as the government tries to bundle and dispose of billions of euros in bad loans while attempting to reform and consolidate the ailing sector. Since the start of the year, Italian banks have lost more than 35 billion euros in market capitalization as investors sold their shares amid concern about some...

  • WASHINGTON— Banking giant HSBC has reached a $470 million settlement with the federal government and nearly all states over mortgage lending and foreclosure abuses that officials say helped intensify the country's economic meltdown, the Justice Department announced Friday. The agreement requires the bank to pay $100 million and to provide an additional...

  • WASHINGTON, Feb 5- A lower U.S. unemployment rate in January and a rise in wages suggests the economy is resisting a global slowdown, but tighter credit conditions and slower hiring are seen reducing the chances of another Federal Reserve interest rate rise in March. While data on Friday supported the Fed's view that the labor market is near full strength,...

  • WASHINGTON, Feb 5- HSBC Holdings Plc will pay $470 million to settle parallel U.S. federal and state civil charges alleging the bank's mortgage servicing arm engaged in abusive foreclosure and loan origination practices, the New York Attorney General's office said on Friday. The mortgage settlement resolves claims brought against the London- based bank by...

  • MILAN— Italian bank Intesa Sanpaolo reported a 73 percent drop in fourth-quarter profits on lower net interest income and a drop in investment returns. Italy's second-largest bank by assets, Intesa Sanpaolo reported Friday fourth-quarter net income of 13 million euros, down from 48 million euros a year earlier. Fees and commission income rose 6 percent to 1.9...

  • EXCLUSIVE- VENEZUELA CENTRAL BANK IN TALKS WITH DEUTSCHE BANK ON GOLD SWAP-SOURCES.

  • *Jan exports seen at -1.9 pct y/y vs Dec's -1.4 pct. BEIJING, Feb 5- China's January exports may have fallen for a seventh month with factories still battling falling prices, but an expected jump in bank lending may underscore the government's bid to put a floor under the slowing economy. That may produce a trade surplus of $58.85 billion for January, compared with a...

  • BNP Paribas profit misses estimates Friday, 5 Feb 2016 | 1:15 AM ET
    BNP Paribas' results miss estimates

    Lars Machenil, CFO of BNP Paribas, discusses the French bank's Q4 results and its plans to improve and focus the company.

  • Feb 5- Activist investors are putting the U.S. banking sector in their crosshairs, betting that headwinds whipping through the industry will accelerate consolidation among lenders. Hedge funds such as Ancora Advisors, Clover Partners and Seidman& Associates are buying up stakes in lenders across the U.S., from community banks to large regional lenders.

  • SHANGHAI, Feb 5- In the weeks leading up to the traditional Lunar New Year liquidity squeeze, China's central bank has been busy testing its new "interest rate corridor", a tool that could help reduce the need for deeper monetary policy easing. The People's Bank of China late last year introduced a new band to guide interest rates on loans and deposits, abolishing...

  • SHANGHAI, Feb 5- China's yuan weakened on Friday as local dollar demand ahead of the Lunar New Year holiday offset a steep fall in the greenback in global markets and a stronger central bank midpoint, traders said. The Chinese foreign exchange market will be closed all next week for the Lunar New Year holiday, and corporates typically need dollars to cover...

  • China graft watchdog raps financial regulators Thursday, 4 Feb 2016 | 10:42 PM ET

    BEIJING, Feb 5- China's main ruling Communist Party anti-graft watchdog has criticised four financial regulators after its latest inspection, saying they had problems ranging from using public funds for holidays to lack of corruption risk controls. The four- the People's Bank of China, State Administration of Foreign Exchange, China Banking Regulatory...

  • DIARY-Top Economic Events to Feb 17 Thursday, 4 Feb 2016 | 7:00 PM ET

    LONDON- European Central Bank's Supervisory Council member Daniele Nouy to participate in panel discussion at European Banking Authority 5th Anniversary Conference- 1130 GMT. LONDON- Bank of England's Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority Andrew Bailey to participate in panel...

  • NEW YORK, Feb 4- Two former Julius Baer bankers pleaded guilty on Thursday to helping American clients dodge taxes, as U.S. prosecutors announced the settlement for $547 million of a criminal case against the Swiss bank itself. Daniela Casadei and Fabio Frazzetto, former Julius Baer client advisers, pleaded guilty to conspiracy charges in Manhattan federal...

  • NEW YORK— Swiss bank Julius Baer, facing a criminal charge, has agreed to pay $547 million and cooperate for three years with American authorities to shut down accounts that enabled wealthy Americans to evade taxes, authorities announced Thursday. "Bank Julius Baer not only turned a blind eye to tax avoiders but actually conspired with them to break the law," U.S.

  • The Bank of Japan joined the European Central Bank and others in instituting negative interest rate policy last week, and even the Federal Reserve is now modeling how banks would respond if it too took this particular plunge. Bank shares in Tokyo are down nearly 15 percent since rates went negative, and are down about 25 percent this year. Loans to energy and...

  • WASHINGTON, Feb 4- The U.S. House of Representatives passed legislation on Thursday that would curb a Justice Department initiative aimed at cutting off perpetrators of fraud from the banking system. The goal of the program, frequently called " Operation Choke Point," has been to hold banks accountable while sniffing out law breakers, according to the department.

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