BEIJING/ HONG KONG, June 8- Five Chinese banks are set to issue interbank certificates of deposit to foreign financial institutions inside the Shanghai Free Trade Zone, the latest step of the city's financial reforms, four sources with direct knowledge of the matter told Reuters. Three of China's "Big Four" state-owned lenders, China's Industrial and Commercial...» Read More
*U.S. Supreme Court allowed lawsuit to go forward. District Judge David Godbey in Dallas said on Wednesday the roughly 18,000 investors could pursue claims that Chadbourne& Parke and Proskauer Rose knew Stanford was selling fraudulent high-yielding certificates of deposit through his Antigua- based Stanford International Bank, and helped him obstruct a...
The Supreme Court ruled that the victims of former Texas tycoon R. Allen Stanford's massive Ponzi scheme can go forward with class-action lawsuits.
Portugal's top bankers have called on Europe's leaders to stop "playing with fire" and moderate their stance towards the euro zone periphery, or risk instilling alarm among bank depositors in future, the FT reports.