Topic: Banking

Trans-Atlantic tension in JPMorgan Chase’s chief investment office in 2010 and 2011 contributed to the unit’s giant losing trades in 2012, current and former bankers said, The New York Times reports.

World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing a global economy increasingly threatened by Europe's debt crisis.

A federal investigation into JPMorgan Chase’s multibillion-dollar trading loss widened Friday as regulators pursued a new line of inquiry. The NYT reports.

Spanish bank bad loans rose in March to their highest in 18 years, figures from the Bank of Spain showed on Friday, underscoring the problems facing the government as it attempts to clean up the sector and get its economy back on track.

Quarterly profit of State Bank of India, the country's biggest lender, jumped nearly 20 times on the back of a sharp drop in provisions for bad loans and strong credit demand, sending its shares up 4 percent in a subdued market.

The euro zone is facing its darkest hour but will emerge more competitive than in the past, the chief executive of the London Stock Exchange told CNBC on Friday, though he noted that smaller businesses are very important to Europe’s recovery.

Average U.S. rates for 30-year and 15-year fixed mortgages fell to record lows for the third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify. The Christian Science Monitor reports.

If Greece goes: An exit is likely to shatter faith in the eurozone’s integrity for ever. The Financial Times reports.

Jim Rogers, the chairman of Rogers Holdings, says he expects more turmoil in the global financial markets after Asian stock markets on Friday fell close to four-month lows.

The unit at the centre of JPMorgan Chase’s $2 billion trading loss has built up positions totalling more than $100 billion in asset-backed securities and structured products – the complex, risky bonds at the centre of the financial crisis in 2008. The FT reports.

Spain's borrowing costs shot up at a bond auction on Thursday and Spanish banks suffered a double blow as 16 had their credit ratings cut by Moody's.

JPMorgan CEO Jamie Dimon was called before the Senate banking panel on Thursday to testify on the bank's recent trading losses.

Spain officially slipped in to recession in the first quarter, final figures confirmed on Thursday, leaving the country threatened with a prolonged slump as the turmoil-wracked euro zone struggles to balance austerity with growth.

A growth compact to sit alongside the existing fiscal compact is a certainty for the euro zone as it battles the flames of discontent fanned by the harsh austerity measures implemented in struggling economies, one expert told CNBC Thursday.