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  • WASHINGTON, July 24- Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed several hundred transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Thursday.

  • BRUSSELS, July 24- The European Union would target state-owned Russian banks vital to financing Moscow's faltering economy in the most serious sanctions so far over the Ukraine crisis under proposals considered by EU governments on Thursday.

  • WASHINGTON, July 24- Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Thursday.

  • LONDON, July 24- When Sam Molinaro took on the job of shifting unwanted assets for UBS- all 430 billion Swiss francs worth of them- his phone began to ring ceaselessly and his meetings diary filled up fast with potential buyers. "They thought,' you're going to be getting rid of these assets, this is great'," recalled Molinaro, former finance chief at U.S. bank Bear Sterns.

  • EU targets state-owned Russia banks in sanctions draft Thursday, 24 Jul 2014 | 7:15 AM ET

    *EU patience with Russia running out. BRUSSELS, July 24- The European Union would target state-owned Russian banks and their ability to finance Moscow's faltering economy in its most serious sanctions so far over the Ukraine crisis under proposals considered by EU governments on Thursday, diplomats said.

  • Fraud investigators quiz top Portuguese banker Thursday, 24 Jul 2014 | 6:21 AM ET

    LISBON, Portugal— Portugal's attorney general's office says prosecutors investigating a suspected tax fraud and money-laundering conspiracy have detained the former head of the country's largest bank.

  • LONDON, July 24- Euro zone money market rates edged higher on Thursday and were expected to rise further in coming days, potentially driving up short-term government bond yields, after a drop in excess cash in the bloc's banking system.

  • European Central Bank hit by data theft Thursday, 24 Jul 2014 | 4:27 AM ET

    BERLIN— The European Central Bank said Thursday that email addresses and other contact information have been stolen from a database that serves its public website, though it stressed that no internal systems or market-sensitive data were compromised.

  • NEW YORK, July 24- U.S. authorities' $8.9 billion settlement last month with French bank BNP Paribas for sanctions busting will pay for New York cops to get live computer feeds of street crime and for new carpets in the offices of prosecutors, among many other things. In some places- particularly New York state- that is leading to ugly wrangling over how to spend it.

  • WELLINGTON, July 24- New Zealand's central bank lifted its official cash rate by 25 basis points to 3.50 percent as expected on Thursday, but then suspended its rapid-fire run of interest rate rises to study their impact on the economy.

  • WELLINGTON, July 24- New Zealand's central bank lifted its official cash rate by 25 basis points to 3.50 percent as expected on Thursday, but then suspended its rapid-fire run of interest rate rises to study their impact on the economy.

  • WELLINGTON, July 24- New Zealand's central bank raised interest rates to the highest level in more than 5 years on Thursday but said it would now take a breather as it looked at the impact of its tightening and watched inflation in the economy.

  • Argentina, bondholder settlement talk rescheduled Wednesday, 23 Jul 2014 | 12:06 PM ET
    US court appointed mediator in the Argentine debt crisis Daniel Pollack leaves the US Federal Courthouse July 22, 2014 in New York. The judge urged Argentine officials and holdout bondholders to reach an agreement.

    Settlement talks between Argentina and bondholders not part of the nation's past debt restructuring were pushed back one day, the mediator said.

  • PANAMA CITY, July 18- Panamanian banking supervisors said on Friday they had taken control of ES Bank SA, a small unit of Espirito Santo Financial Group.

  • *Says Deutsche Bank made no progress fixing problems. FRANKFURT, July 23- The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG's U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, people close to the matter told Reuters.

  • How big banks are courting the 'unbanked' Wednesday, 23 Jul 2014 | 8:47 AM ET

    For banks working on their post-financial crisis image, catering to poor clients may lead to good will from regulators, the NYT reports.

  • LONDON, July 23- Bank of England officials discussed in July whether there was a case for an early rate rise to cool Britain's economy, but were held back in part by strikingly low wage growth and signs of weakness abroad.

  • JPMorgan nears sale of half its private equity biz Wednesday, 23 Jul 2014 | 6:44 AM ET
    JPMorgan & Chase Co. signage outside of the company's headquarters in New York.

    JPMorgan Chase is close to a deal to sell half its private equity business, the Wall Street Journal reported, citing people familiar with the matter.

  • SEC poised to 'break the buck' for some money funds Wednesday, 23 Jul 2014 | 6:30 AM ET

    Regulators are expected to vote to end the fixed $1 share price for money-market mutual funds - at least for some money funds used by big investors.

  • *Deutsche Bank to come under closer Fed scrutiny from 2016. FRANKFURT, July 23- The Federal Reserve Bank of New York has found serious problems in Deutsche Bank's U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, a person close to the matter told Reuters.

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