Every day, trillion of dollars are tied up due to our out-of-date banking system. CNBC's Steve Liesman discusses how the Fed has planned to address the problem and move to real-time payment.» Read More
SHANGHAI, March 13- China's yuan rose against the dollar on Thursday as the central bank set a slightly stronger midpoint for the first time in four days, a move traders said that shows the government is keeping the currency stable.
March 12- The Federal Reserve Bank of New York looked at whether a key foreign-exchange benchmark was subject to manipulation in 2012 but did not pursue any public action, the Wall Street Journal reported, citing people familiar with the matter.
Treasury Secretary Jack Lew testifies on the White House fiscal 2015 budget proposal before the House Budget Committee- 1400 GMT.
*State-controlled Sberbank postpones investment conference. MOSCOW, March 12- Russia's largest bank Sberbank has postponed one of the country's highest profile investment conferences due to volatility stemming from the situation in Ukraine, the bank said on Wednesday.
*U.S. Senate panel holds confirmation hearing on Thursday. SAN FRANCISCO/ NEW YORK, March 12- Stanley Fischer, U.S. The former chief of the Bank of Israel was chosen to be Fed Chair Janet Yellen's second-in-command in part for his crisis-management credentials, especially during a seven-year stint as the No. 2 official at the International Monetary Fund.
BRUSSELS, March 12- Europe appeared far away from making good its crisis pledge to tackle weak banks as lawmakers and country representatives failed on Wednesday to bridge differences over how to close down troubled lenders.
MOSCOW, March 12- Russia's largest bank Sberbank has postponed a business conference until the autumn due to uncertainty about Ukraine and the country's economy, the bank said on Wednesday.
The U.S. Senate approved Federal Reserve Governor Sarah Bloom Raskin to be the No. 2 official at the Treasury Department.
*U.S. central bankers stressing "gradual" approach. SAN FRANCISCO/ NEW YORK, March 12- Janet Yellen has a message to markets: the Federal Reserve will keep interest rates low for a while yet and, when it does begin to tighten monetary policy, it will do so only slowly.
*Italy no longer cause for alarm among foreign investors. Italy's largest bank by assets UniCredit and troubled lender Monte dei Paschi di Siena this week announced the write-downs- of 13.7 billion and 2.75 billion euros respectively- as they prepare for an industry-wide health check that European lenders are undergoing this year.
MOSCOW, March 12- President Vladimir Putin's engagement in Ukraine threatens to divert Russia's central bank from its goals of inflation-targeting and freeing up the rouble currency, undermining the credibility it has built up.
MOSCOW, March 12- Russia's central bank will probably keep key policy rates on hold at its regular meeting on Friday, economists say, but any escalation of tensions over Ukraine could prompt a further tightening in monetary policy.
SHANGHAI, March 12- China's yuan fell slightly on Wednesday as corporate dollar demand appeared to exceed supply, with the recent central bank-engineered yuan devaluation translating into genuinely bearish market sentiment, traders said.
*PBOC may cut bank reserves if GDP growth below 7.5 pct- sources. BEIJING, March 12- China's central bank is prepared to take its strongest action since 2012 to loosen monetary policy if economic growth slows further, by cutting the amount of cash that banks must keep as reserves, sources involved in internal policy discussions say.
*Germany's Schaeuble points to differences. BRUSSELS, March 11- European ministers agreed on Tuesday to strengthen a scheme to tackle troubled banks, seeking to win the blessing of EU lawmakers for a reform to fortify the euro zone against crises. It could even fall to European Union leaders, who meet in Brussels on March 20-21, to decide.
March 11- As a symbol of Britain's ill-advised romance with banking and dubious foreign money, a new prime London property investment fund is hard to beat.
*Fannie Mae, Freddie Mac would be liquidated under plan. WASHINGTON, March 11- The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take years to resolve.
FRANKFURT, March 11- The European Central Bank will press euro zone banks to revalue their assets and take a more realistic view on likely losses when it probes their balance sheets in the coming months, signalling a new, more aggressive era of banking supervision.
FRANKFURT, March 11- The European Central Bank will press banks to revalue their assets and take a more realistic view on likely losses when it probes their balance sheets in coming months, signalling a new, more aggressive era of banking supervision in the bloc.
March 11- Among the most crucial elements of the European Central Bank guidelines released on Tuesday for this year' asset quality review of euro zone lenders is how the results will flow through to the way banks present themselves to markets and investors.