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  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said high equity valuations could pose potential dangers but that stability risks across the U.S. financial system remained in check. "I would highlight that equity market valuations at this point generally are quite high," Yellen said. Yellen's view on the run-up in stocks was an answer to...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer, in a warning to the banking industry and non-bank lenders. In prepared remarks at the " Finance and Society" conference held at the International Monetary Fund, Yellen outlined the contributions of the...

  • Yellen says bank regulators making progress in reforms Wednesday, 6 May 2015 | 9:16 AM ET

    WASHINGTON— Federal Reserve Chair Janet Yellen said Wednesday that the Fed and other banking regulators have made significant progress in correcting flaws in the financial system that triggered the worst banking crisis in seven decades. Banking regulators are remaining "watchful" for any areas where further reforms may be needed, she said in remarks at a...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer. In prepared remarks at the International Monetary Fund, Yellen outlined the contributions of the banking system to society and the economy. But Yellen quickly turned her speech to the distorted system...

  • YELLEN SAYS RAPID GROWTH OF SHADOW BANKING LEFT SIGNIFICANT GAPS IN REGULATION.

  • ECB set to decide on increasing Greek bank lifeline Wednesday, 6 May 2015 | 5:09 AM ET

    FRANKFURT, May 6- The European Central Bank's Governing Council on Wednesday may nudge up the amount of Emergency Liquidity Assistance teetering Greek banks can borrow, as Athens struggles to avert a potentially catastrophic funding crunch. On Wednesday, Athens sells 875 million euros of six-month Treasury bills to refinance a maturing issue and a 200...

  • SYDNEY, May 6- A golden era of record profits and lush dividends is coming to an end for Australia's major banks, with disappointing results this week revealing a new normal of more modest earnings growth due to tougher capital requirements and a sluggish economy. Having doubled annual profits over the past five years, Australia's banks are now set to post low...

  • Australian banks' golden run over as growth plateaus Wednesday, 6 May 2015 | 1:10 AM ET

    SYDNEY, May 6- A golden era of record profits and lush dividends is coming to an end for Australia's major banks, with disappointing results this week revealing a new normal of more modest earnings growth due to tougher capital requirements and a sluggish economy. Having doubled annual profits over the past five years, Australia's banks are now set to post low...

  • DIARY- Top Economic Events to May 18 Tuesday, 5 May 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Chair Janet Yellen and International Monetary Fund Managing Director Christine Lagarde participate in " Finance and Society" conversation before the Institute for New Economic Thinking Conference on Finance and Society hosted by the IMF- 1315 GMT. WASHINGTON- Federal Reserve Bank of Kansas City President Esther George...

  • May 5- CoBank, the largest cooperative bank within the U.S. government-backed Farm Credit System, on Tuesday reported first-quarter net income that was flat compared with a year ago but said loan demand had risen 5 percent. Denver- based CoBank said net income for the quarter ended March 31 was $232.2 million, compared with $231.3 million in the year-ago quarter.

  • NEW YORK, May 5- Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said on Tuesday that he believes the U.S. Federal Reserve will probably not raise interest rates this year, in part because of a lack of wage inflation. Gundlach, an influential bond investor, was speaking at DoubleLine's annual investor event at the New York Yacht Club.

  • LOS ANGELES— Wells Fargo Bank employees driven by strict sales pressure issued unwanted credit cards and opened unauthorized accounts that charged customers fees and damaged their credit, according to a lawsuit filed by the city of Los Angeles. "In its push for growth, Wells Fargo often elevated its profits over the legal rights of its customers," Feuer said.

  • MONTREAL, May 5- Some exchange-traded funds and mutual funds might face liquidity problems if a large number of investors were to run for the exits at the same time, Bank of Canada Senior Deputy Governor Carolyn Wilkins warned on Tuesday. Among changes the Bank of Canada is proposing, Wilkins listed:. -Reducing the amount of benchmark government bonds the Bank of...

  • Invest in US-centric stocks?   Tuesday, 5 May 2015 | 12:07 PM ET
    Invest in US-centric stocks?

    The FMHR crew weighs in on whether now's the time to seek returns overseas. And Rich Pzena, Pzena Investment Management, shares his play on bank stocks as interest rates rise.

  • Banks lead Britain's FTSE lower, focus on election Tuesday, 5 May 2015 | 11:59 AM ET

    LONDON, May 5- Britain's top share index ended lower on Tuesday tracking sharp losses in the U.S. market, with HSBC leading the banking sector down after saying a bank levy was hampering its ability to pay a higher dividend. After trading higher in the first, the blue-chip FTSE 100 index gave up gains and finished 0.8 percent weaker at 6,927.58 points, dragged down by...

  • NAIROBI, May 5- Kenya's shilling weakened against the dollar on Tuesday, hitting a fresh three and a half year low and breaking the technical support level of 95.00. At the 1300 GMT close of trade, commercial banks quoted the shilling at 95.05/ 15 to the dollar, its lowest since November 2011, and down from 94.80/ 90 at Monday's close. "It looks like we've been flirting...

  • Los Angeles sues Wells Fargo for unlawful conduct Tuesday, 5 May 2015 | 10:36 AM ET
    Wells Fargo

    The lawsuit alleges that employees misused customers' confidential information, according to the paper.

  • LONDON, May 5- Rising expectations that Norway's central bank will cut interest rates this week pushed the Norwegian crown further away from six-month highs against the euro on Tuesday. Norges Bank kept its benchmark rate at 1.25 percent at its last meeting on March 19, surprising many in the market and sending the crown soaring. Traders said the Reserve Bank of...

  • LONDON, May 5- Gold edged higher on Tuesday as the dollar paused ahead of U.S. non-farm payroll data later in the week that could give clues as to when the Federal Reserve will raise interest rates. Gold fell to a six-week low of $1,170 on Friday after the Federal Reserve indicated it saw a slowdown in the U.S. economy as transitory and did not rule out a rate rise this...

  • LONDON, May 5- HSBC warned on Tuesday that Britain's bank tax was preventing it from raising dividend payouts and that was a key concern of investors as the bank assesses whether to move back to Hong Kong from London. Europe's largest bank has ordered a review of whether it should shift its headquarters because of the cost of operating from London and said it would...

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