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  • WASHINGTON/ NEW YORK, March 5- All 31 U.S. banks passed a test of how they would do in a next economic crisis, the Federal Reserve said on Thursday, but those with large trading books came out weak because of new elements in the check-up. But Wall Street banks such as Goldman Sachs, Morgan Stanley and JP Morgan Chase& Co were among the five banks with the lowest readings.

  • WASHINGTON— All of the nation's 31 largest banks are adequately fortified to withstand a severe U.S. and global recession and keep lending, the Federal Reserve said Thursday. "This week's tests are a more modest standard than what we will get next week," said Cayetano Carrasco-Gea, senior director at Moody's Analytics. The banks undergoing the stress tests...

  • U.S. banks all pass capital hurdle in Fed stress test Thursday, 5 Mar 2015 | 4:30 PM ET

    WASHINGTON, March 5- All 31 U.S. banks passed a 5 percent minimum hurdle for top-tier capital in an annual health check by the Federal Reserve, the central bank said on Thursday, as the industry continues to rebuild buffers after the crisis. Zions Bancorp came in at 5.1 percent in a model run of a severe crisis that included a 25 percent drop in home prices and a stock...

  • BANKS ALL STAY ABOVE 5 PERCENT MINIMUM CAPITAL HURDLE IN FEDERAL RESERVE STRESS TEST.

  • The Boston Consulting Group said last month mobile money transfers in sub-Saharan Africa alone could generate fees of up to $1.5 billion by 2019.. "If you take out air-time, you have a true view of mobile money, and it's not a good story, more than a decade on," says South Africa- based Johan de Lange, who works with banks and phone companies. In Afghanistan, for example,...

  • NEW YORK, March 5- The New York Federal Reserve's once-unparalleled authority to oversee Wall Street has been weakened by a series of supervisory missteps and by a consolidation of power at the U.S. central bank's Washington headquarters. Current and former New York Fed employees say its ability to independently regulate the country's largest banks began to...

  • WASHINGTON, March 5- A group of prominent U.S. economists, including former Federal Reserve chiefs, Alan Greenspan and Ben Bernanke, wrote to congressional leaders Thursday to support key trade legislation but warn against including currency rules in trade deals. The economists, all former chairs of the President's Council of Economic Advisers, said...

  • *ECB won't allow Greece to issue more short-term debt. NICOSIA/ ATHENS, March 5- The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday. The tough line, spelled out after the ECB's policymaking...

  • ZURICH, March 5- Switzerland's government will seek to coordinate more closely with the independent Swiss National Bank after the latter's shock decision to drop its cap on the Swiss franc, according to a confidential policy resolution seen by Reuters on Thursday. A government spokesman denied on Wednesday that Bern had asked the central bank to introduce a...

  • *Citi's sale of Akbank stake drags down banking stocks. ISTANBUL, March 5- Turkey's lira hit an all-time low on Thursday as meetings with investors in New York did little to allay concern over President Tayyip Erdogan's battle with the central bank or Ankara's economic management team. Efforts by Prime Minister Ahmet Davutoglu, Deputy Prime Minister Ali...

  • NICOSIA, Cyprus— Cyprus' central bank chief says the remaining restrictions on cash transfers out of the country will be eliminated by the end of this month. She was speaking Thursday at a news conference after a meeting of the European Central Bank. The move will end a painful chapter of Cyprus' rescue, which saw savers' deposits raided to support the ailing banks.

  • NICOSIA/ FRANKFURT, March 5- The European Central Bank will launch into quantitative easing next week having increased its economic growth forecasts for this year and next. President Mario Draghi said the first bond purchases with new money would take place on March 9. The euro zone's central bank has said it will buy 60 billion euros a month until Sept. 2016 or...

  • NICOSIA, March 5- European Central Bank President Mario Draghi said on Thursday the amount of emergency lending available to Greek banks had been increased. "We have raised the ELA today," he told a news conference in Cyprus following an ECB policy meeting. Draghi said Greek banks were solvent and had capital levels well above minimum requirements.

  • LONDON, March 5- Fraudsters are slick and smooth when they request new bank accounts or credit cards-- a characteristic an Israeli company wants to use against them. Banks and other financial firms are coming under sustained attacks from increasingly sophisticated cyber criminals, forcing them to spend more money and resources trying to fight hackers.

  • 'Spocking' $5 Canadian bills legal, but illogical Thursday, 5 Mar 2015 | 8:52 AM ET

    Canada's central bank urges citizens to cease defacing $5 notes as tribute to the late actor Leonard Nimoy. USA Today reports.

  • NICOSIA, Cyprus— European Central Bank raises its eurozone growth forecast for 2015 to 1.5 pct from 1 pct.

  • NICOSIA, Cyprus— European Central Bank says it will start its bond-buying stimulus program on March 9.

  • *ECB releases details of bond-buying scheme at 1330 GMT. LONDON, March 5- Gold steadied above $1,200 an ounce on Thursday, with investors cautious ahead of a European Central Bank news conference set to give details on its bond-buying programme and as the market awaited key U.S. economic data. The ECB held interest rates unchanged at record lows and is expected to...

  • Fed shifts regulatory power away from New York -WSJ Thursday, 5 Mar 2015 | 8:17 AM ET

    WASHINGTON, March 5- The regulatory power of the Federal Reserve Bank of New York has shifted to a committee in Washington established in a previously undisclosed paper written in 2010, the Wall Street Journal reported on Thursday. The change, which the newspaper said had been enacted slowly during the past five years, moves the center of banking oversight to...

  • *Lack of deal in Iran nuclear talks support crude oil. LONDON, March 5- The euro hit an 11 1/ 2- year low against the dollar and European stocks nudged higher on Thursday, as the European Central Bank prepared to lay out the details of its impending 1 trillion-euro stimulus plan. The common currency fell as low as $1.1026, its lowest since September 2003, and the region's...

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