Senior Fed officials seem to have slipped back into their pre-2008 ways, says Simon Johnson, a professor at MIT's Sloan school.» Read More
BERLIN— A group of German professors has filed a complaint to the country's highest court against the European Union's plans to create a so-called banking union, a central part of the effort to make the continent's financial system more resilient.
LONDON— Lloyds Banking Group is paying $369 million to U.S. and British authorities to settle allegations it manipulated a key global interest rate.
CFTC CHARGES LLOYDS BANKING GROUP, LLOYDS BANK WITH MANIPULATION, ATTEMPTED MANIPULATION, AND FALSE REPORTING OF LIBOR.
Kian Abouhossein, banking analyst at JP Morgan, discusses the decline in fixed income revenues for big banks and discusses how they are adjusting their models.
HONG KONG, July 28- Hong Kong's benchmark index finished at its highest level in more than three years on Monday, as Chinese banks jumped after a Reuters report said the country's fifth-biggest bank by assets planned to seek more private investors.
Banks may have repaired their balance sheets but we're still waiting for any notable shift in their culture, according to a market commentator.
Philippe Bodereau, global head of financial research at PIMCO, says the problems associated with Banco Espirito Santo do not threaten the financial stability of euro zone banks.
HONG KONG, July 28- China shares closed at their highest since December on Monday, with gains led by the banking sector after a Reuters report said the country's fifth-biggest bank by assets planned to seek more private investors.
Chris Skinner, CEO of Balatro and director of the Financial Services Club, says bad banking culture has changed but there is still "a long way" to go.
Alex Brummer, author of "Bad Banks: Greed, Incompetence and the Next Global Crisis", says the much-needed change of culture in the banking sector hasn't happened.
David Ellis, Head of Australian Banking Research at Morningstar Australasia, discusses the bank's decision to offload a $1.2 billion portfolio of distressed British loans.
BERLIN, July 27- The European Central Bank supports Germany's Bundesbank in its appeals for higher wage deals in Germany, Der Spiegel magazine quoted ECB Chief Economist Peter Praet as saying on Sunday.
ZURICH, July 26- About 80 of the 106 Swiss banks that signed up for a deal with U.S. tax authorities could be fined less than they had feared for their role in helping wealthy Americans cheat on their taxes, but must widen their cooperation, a Swiss newspaper reported.
Brazil is freeing up more than $20 billion in its banking system as its economy struggles to escape "stagflation". The FT reports.
The bank, which operated three branches, had about $72.9 million in assets and $71 million in deposits as of March 31. The FDIC said that Providence Bank also agreed to buy roughly $67.7 million of GreenChoice Bank's assets. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession.
WASHINGTON, July 25- The U.S. House Financial Services Committee said on Friday that it will vote on a bill next week aimed at bringing more transparency to the Federal Reserve, including the controversial requirement of adopting a rules-based approach to its policy.
Alan C. Greenberg, the Wall Street legend behind Bear Stearns' during its rise and collapse during the recession, is dead at 86. NYT reports.
A Citigroup unit will pay $5 million to settle charges that one of its trading venues failed to protect clients' confidential trading data.
WASHINGTON, July 25- The U.S. Federal Reserve on Friday approved a resubmitted capital plan from Zions Bancorporation, part of an annual stress test of banks' financial robustness. In March, the Fed objected to the bank's 2014 capital plan because it did not meet the minimum 5 percent capital requirement in a simulated economic downturn.
FEDERAL RESERVE SAYS IT HAS NOT OBJECTED TO RESUBMITTED CAPITAL PLAN FROM ZIONS BANCORPORATION.
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