There were only 20 banks that caused the crisis, and "they're all gone," former Wells Fargo CEO Dick Kovacevich told CNBC.» Read More
British Prime Minister David Cameron is facing criticisms of leaving the UK isolated after he said he would not agree to a new European Union treaty.
China Construction Bank is in talks to buy a bank in Brazil amid plans to open a subsidiary in Latin America’s biggest economy, according to officials and people familiar with the matter. The FT reports.
A third of the price that Sir Richard Branson’s Virgin Money is paying to buy Northern Rock will be funded from the state-owned bank’s current capital base, the Financial Times has discovered.
As most retail customers move online to bank, branches are regrouping by aggressively going after accounts with small-business owners, who tend to need a lot more face time than other types of customers.
Austrian bank Erste announced on Friday that it had drastically reduced its credit default swaps (CDS) portfolio and that it would close it by the end of the year, after valuing it based on what it would be worth in the market - known as marking to market - earlier in the month.
Shares of China's "big four" banks rose sharply on Tuesday after a unit of the country's $400 billion sovereign wealth fund — Central Huijin Investment — increased its stake in the lenders. However, three analysts tell CNBC that while the intervention to boost investor confidence in China's financial system is encouraging, the move will not change market sentiment.
The Nordic country of 5 million people may decide to leave the single European currency and return to its markka if it is forced to cough up funds to support weaker euro zone members, Matthew Lynn, an analyst with Strategy Economics, wrote in a research note on Thursday.
Billionaire investor George Soros and 95 prominent politicians, business leaders and academics urged euro zone leaders to take swift action to resolve the crisis plaguing the region, calling for the creation of a euro zone treasury and stressing that the euro can only be saved if all 17 countries that share the currency act in unison.
The crisis plaguing the euro zone has reached a "systemic dimension", outgoing European Central Bank President Jean Claude Trichet said on Tuesday, warning that the risk of economic shocks spreading further across the financial sector has increased.
Since August the market has been very volatile. Huge market swings for stocks added to a sense of crisis as investors fretted over Greek default, the global banking system and a slowdown in the US economy.
Europe has too many broken banks and the time has come to fix them. With Dexia's problems laid bare, it must now be apparent to even the most myopic politician that the European Banking Authority's 2011 stress tests were a complete failure, writes CNBC's Guy Johnson.
As the French and Belgian governments race towards a second rescue for stricken financial group Dexia, fears that the Franco-Belgian group is just the first of many banks in need of aid are intensifying.
Deutsche Bank scrapped its profit target for this year, announced 500 job cuts and said that it would take further impairment charges on its holdings of Greek sovereign debt, sending its shares down on Tuesday.
With only two countries apart from Slovakia left to approve the extension of the euro zone's bailout fund, all eyes are on the Eastern European nation of around 5 million people who are not keen on helping richer Greece.
Slovakia's parliament may vote on the expansion of the euro zone's bailout fund as soon as mid October, but the risk of a Greek default is still possible, Slovak Prime Minister Iveta Radicova told CNBC in an interview in Bratislava.
Hungary's decision to help its citizens pay back the foreign exchange loans they took at the height of the economic boom a few years back has sparked outrage among banks and spooked foreign investors.
UBS’s $2 billion rogue trading loss highlights the need for a pan-bank risk management body, Don Tapscott, author of ‘Wikinomics: how mass collaboration changes everything’ and chairman of nGenera Insight think tank, told CNBC.
The CEO of BNY Mellon, the nation's sixth-largest bank, is stepping down due to disagreements over how to run the company. The current president was named as the new CEO.
"There might be some traders out there who might go into these banks¿ or take this opportunity to trade Greek bonds," Michael Mewes, head of fixed income, JP Morgan Asset Management, told CNBC. But he added that JP Morgan Asset Management was on the sidelines.
Greek banks EFG Eurobank and Alpha Bank announced they merged to create southeast Europe's largest lender. Nicholas Nanopoulos, CEO of EFG Eurobank, talks to CNBC about the merger.