The drama at Portuguese lender Banco Espirito Santo (BES) resumed on Thursday with a former CEO of the bank being held by police in Lisbon.» Read More
The Financial Services Authority's agreement with banks that they will pay compensation for mis-selling interest rate hedging products is not a guarantee that more regulation for banks isn't on the way, Martin Wheatley, head of financial conduct at the FSA, told CNBC.
Authorities in the U.S. and Europe need to get involved together with the UK authorities to make sure rigging of interest rates by banks cannot happen again, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee told CNBC.
The UK is unlikely to join a banking union as the one proposed for banks in the euro zone, Jean-Claude Juncker, president of the Eurogroup group of finance ministers in the euro zone, told CNBC.
Criminal sanctions can be applied in the U.S. for manipulating Libor but not in the UK and the UK government is looking into changing that, Mark Hoban, UK Financial Secretary, told CNBC.
The absence of an Asian name in the list of financial institutions, which saw their credit ratings cut by Moody’s on Thursday, highlights the strength of the region’s banking sector, says one analyst.
"The concern of course is that we continue to see deposits leaking. We could see more deposits leaving¿ in the worst case next week," David Owen, chief European economist, Jefferies International, told CNBC.
"We need a huge purge of insolvency of the banking sector, financial sector right across the European Union," Declan Ganley, Libertas chairman, told CNBC. "We need to let capitalism work once again. For the freedom to succeed in the European Union in business you have to allow and guarantee the freedom to fail."
Spain is going through "critical times" and the lack of a clear plan to sort out the crisis is "not good news," Antonio Garcia Pascual, chief southern European economist at Barclays told CNBC.
Spanish banks are likely to need more money from the government to make sure they are well capitalized, Moritz Kraemer, head of European Sovereign ratings at S&P, told CNBC on Wednesday.
Banks' countries of origin have become important again and Deutsche Bank will continue its expansion in its home market, as well as in emerging markets and the U.S., Anshu Jain, head of the corporate and investment bank at Deutsche Bank, told CNBC in an interview.
Spanish banking stocks saw some relief early on Tuesday after heavy continued losses on Monday on concern about the banks' property losses.
JPMorgan’s biggest worry in the wake of the "London Whale" $2 billion trading loss should be losing the trust of Congress, analyst Jim Bianco of Bianco Research told CNBC Tuesday.
A "ring of defense" has to be built around eastern European neighbors Romania, Bulgaria and Serbia to help them cope with the fallout from a possible Greek exit from the euro zone, bankers said on Friday.
Banks around the world have been tapping investors for new funds as they struggle with slumping share prices and waning profits. But Chinese firms have maintained that their profit growth is strong and their balance sheets are solid, raising red flags among some analysts about the banks’ persistent capital needs. The NYT reports.
The Consumer Bankers Association will announced today a standardized lending “template” for working with franchisees that should speed up, and strengthen, the relationship between banks and franchisees.
Spanish banks' borrowing from the European Central Bank almost doubled in March from February to 316.3 billion euros ($415.9 billion). The question whether Spanish banks need to be recapitalized hangs over the sector like the sword of Damocles.
Breaking up China's biggest banks would be the "most aggressive reform measures" seen in post-1978 China, a Beijing-based economist told CNBC on Wednesday, adding that it was badly needed if growth in the world's second-biggest economy was to be sustained.
Shares of DBS Group Holdings fell almost 4 percent Tuesday after it said that it will buy Indonesia's Bank Danamon for $7.2 billion, prompting markets to question whether it is paying too much to become the country’s fifth biggest lender.
DBS's acquisition of Indonesia's Bank Danamon is transformational, the Chairman of the Singapore-based lender told CNBC on Monday.
A new wave of scandals involving Chinese companies listed overseas could hit New York and Hong Kong in the coming weeks as the annual results season get under way with auditors on high alert for fraud. The FT reports.