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  • *Lenders in Spain and France better than expected. FRANKFURT, Oct 26- After putting the euro zone's top 130 banks through their paces, the European Central Bank will face a test of its own on Sunday- will its landmark health check succeed in convincing investors the region's lenders are safe? As well as the number of failures, Reuters has already reported details of...

  • Regulators close small Illinois bank Friday, 24 Oct 2014 | 6:30 PM ET

    The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago. State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank's assets and assume all of National Republic Bank's deposits. National Republic Bank is the fifth FDIC- insured institution to fail in...

  • *BASF retreats after cutting 2015 earnings forecast. *Luxury goods group Kering falls after lower Gucci sales. LONDON, Oct 24- European shares pared early losses on Friday as investors bet the fallout for the banking sector from stress test results due on Sunday should be contained, and took a more measured view of New York's first case of Ebola.

  • SHANGHAI/ HONG KONG, Oct 23- Squeezed between cut-throat competition from online financing firms and rising funding costs, China's midsize banks are falling out of investors' favor as they increasingly lag behind the country's top five lenders. China's five biggest banks are Industrial and Commercial Bank of China Ltd, China Construction Bank Corp,...

  • 'We need more Europe': Nobel laureate     Friday, 24 Oct 2014 | 3:30 AM ET

    Jean Tirole, 2014 economics Nobel Prize laureate and professor at the Toulouse School of Economics, says he is a "big fan" of the EU's banking union plans, which will make the sector more competitive.

  • Russia's Sberbank to challenge sanctions in court Friday, 24 Oct 2014 | 3:08 AM ET
    A man walks past a branch of Sberbank Rossii on March 7, 2014 in Simferopol, Ukraine.

    Russia's top bank Sberbank said it had launched a legal challenge in the European Court of Justice over Western sanctions imposed on the bank.

  • Why the ECB stress tests are credible     Friday, 24 Oct 2014 | 2:30 AM ET

    Roberto Henriques, head of financials credit research at JPMorgan, discusses why the upcoming European bank stress tests are more credible than previous iterations.

  • SHANGHAI, Oct 24- China's yuan inched lower against the dollar on Friday, pushed down by corporate dollar demand and a slightly lower central bank midpoint, traders said. The People's Bank of China fixed its midpoint at 6.1467, down 0.01 percent from Thursday's fix. It has been buoyed by China's strong trade surpluses every month since May, which have increased...

  • WASHINGTON, Oct 24- After months of focus on slack in U.S. labor markets, the Federal Reserve faces a new challenge: the possibility that weak inflation may be so firmly entrenched it upends the return to normal monetary policy. The Fed is expected to take note of recent market turmoil and worsened world conditions at its Oct 28-29 meeting even as it ends the...

  • Tracking the outlook for China's banks     Thursday, 23 Oct 2014 | 11:23 PM ET

    David Marshall, Senior Analyst for Asia-Pacific Financials at CreditSights, expects Chinese lenders to see rising non-performing loans and provision charges as the slowdown affects credit quality.

  • DIARY - Top economic Events to Nov 5 Thursday, 23 Oct 2014 | 8:01 PM ET

    MILAN, Italy- ECB Executive Board member Peter Praet speaks at the International Banking Conference "Structural changes in the banking sector" organized by Bocconi University- 0820 GMT. FRANKFURT- Deutsche Bundesbank Board Member Andreas Dombret to give press conference at the Bundesbank in Frankfurt- 1200 GMT. LONDON- Bank of England Deputy Governor...

  • Speculation over whether the UBS will stay in Stamford has swirled for years as the Swiss bank reorganizes and cuts staff, the Stamford Advocate reported. The Advocate said the building was "officially on the market, further signaling the Swiss banking giant is preparing to pack its bags and leave Stamford in the near future." However Jay Hruska, vice chairman of...

  • MEXICO CITY, Oct 23- Grupo Financiero Banorte, Mexico's fourth-largest bank by assets, said on Thursday its third-quarter net profit rose 15 percent from the same period last year, mostly as a result of its increased stake in a pensions and insurance unit. This largely reflected Banorte's buyout last year of Italian insurer Assicurazioni Generali's 49 percent...

  • EU tells Britain to pay extra €2.1 billion Thursday, 23 Oct 2014 | 3:25 PM ET
    British Prime Minister David Cameron

    Britain has been told to pay an extra €2.1 billion to the EU budget within weeks on account of its relative prosperity, Financial Times reports.

  • Fed Governor Daniel Tarullo, who oversees bank regulation, invited CEOs from a group of banks with between roughly $50 billion and roughly $150 billion of assets, the sources said this week. Under the 2010 Dodd-Frank regulatory reform law, banks that have more than $50 billion of assets must show how they would fare in stressful situations before they can...

  • FORT LAUDERDALE, Fla., Oct 23- A key witness in the federal tax evasion trial of a top Swiss bank executive took the stand on Thursday to testify against his former boss, Raoul Weil, who is accused of conspiring to conceal up to $20 billion in U.S. taxpayers' assets in secret offshore accounts. The former head of the wealth management division for the Americas at UBS,...

  • INSIGHT-Mario Draghi's German problem Thursday, 23 Oct 2014 | 11:01 AM ET

    *Berlin criticism of ECB course reaches new heights. BERLIN/ FRANKFURT/ PARIS, Oct 23- In early October, European Central Bank board member Benoit Coeure paid a discreet visit to the Chancellery in Berlin to express concerns about rising criticism of the bank from German politicians. The Frenchman, one of ECB President Mario Draghi's closest allies in Frankfurt,...

  • 'Massive' switch to new credit cards ahead Thursday, 23 Oct 2014 | 10:00 AM ET

    Bank customers can expect a flurry of thick mail as credit companies rush to get chip cards into their hands ahead of the holiday season.

  • *Expectations for a "big bang" style revamp not high in Europe. *Market expects a handful of failures from Europe's stress tests. But expectations for a "big bang"- style restructuring of the banking sector are low, given the political sensitivities at play, and instead the market is factoring in just a handful of failures out of the 130 banks set to be tested, with a few...

  • LONDON, Oct 23- Top managers of a failed bank would be replaced immediately and creditors told within two days the losses they will bear, the Bank of England said on Thursday in its blueprint for avoiding taxpayer bailouts in future financial crises. Had it been in place in 2008 when Royal Bank of Scotland failed, taxpayers would not have had to funnel 45 billion...

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