GO
Loading...

Banks

More

  • WASHINGTON, Nov 21- New York Federal Reserve Bank President William Dudley came under fire on Friday from Democratic senators who blasted the bank for lax oversight of major financial institutions. I think the evidence suggests that there is, "said Massachusetts Democrat Elizabeth Warren, a frequent critic of the big banks who is seen as a possible 2016...

  • WASHINGTON, Nov 21- Several Democratic senators on Friday criticized the New York Federal Reserve Bank as too close to the mammoth financial institutions it regulates, taking particular aim at the hiring of Fed alumni at firms like Goldman Sachs- and vice versa. that ties between the Fed and the banking industry are perceived as cozy, and arguably contributed to...

  • *Shares soar on China rate cut, Draghi stimulus hopes. NEW YORK, Nov 21- World stock markets and oil prices rallied Friday, fueled by hopes for global growth following a surprise rate cut by China and as the European Central Bank indicated it would step up its asset purchases to boost the euro zone economy. "To the extent that you dueling positive monetary policy...

  • SAO PAULO/ BRASILIA, Nov 21- Respected Brazilian banking executive Joaquim Levy is among three finalists to become the country's next finance minister, and President Dilma Rousseff could announce her pick later on Friday, a government official said. Levy is chief executive officer of Bradesco Asset Management, an arm of Banco Bradesco SA, the nation's...

  • WASHINGTON, Nov 21- A top Democratic senator said on Friday he remains concerned about slack oversight of the largest U.S. banks, and that the New York Fed in particular remains too close to the institutions it regulates. "Troubling reports suggest that it is back to business as usual at the Federal Reserve Bank of New York," Ohio Democrat Sherrod Brown said as he...

  • "We are conducting a careful and thorough assessment of the costs and benefits of financial holding company engagement in these activities," Fed Governor Daniel Tarullo said in prepared remarks ahead of a Senate subcommittee hearing on the issue of banks' involvement with physical commodities. Goldman Sachs Group Inc, Morgan Stanley and J.P. Morgan built huge...

  • ECB drops Citi from FX contact group Friday, 21 Nov 2014 | 9:46 AM ET

    FRANKFURT, Nov 21- The European Central Bank has dropped Citigroup from its experts' working group on foreign exchange, days after the U.S. bank was fined by U.S. and UK regulators for failing to stop traders from trying to manipulate the currency market. A spokesman for Citi in London declined to comment. Citi's fines last week totaled $1.018 billion, made up of $358...

  • PARIS, Nov 21- European stocks rallied on Friday, with a benchmark regional index hitting a two-month high, propelled by dovish comments from European Central Bank President Mario Draghi and a surprise interest rate cut from China's central bank. Regional mining shares, highly sensitive to China's economic growth, featured among the top gainers, with Rio Tinto...

  • WASHINGTON, Nov 21- The Federal Reserve will issue in the first quarter of next year a formal notice of rules it has been reviewing for financial holding companies and their activities in the physical commodities markets, a top official with the U.S. central bank said on Friday. "We are conducting a careful and thorough assessment of the costs and benefits of...

  • NEW YORK, Nov 21- Wall Street was poised to open higher on Friday, setting major stock indexes up for a fifth week of gains, after China's central bank cut its benchmark interest rate for the first time in more than two years to boost its cooling economy. China's move came after European Central Bank head Mario Draghi said "excessively low" inflation had to be raised...

  • French investigate HSBC over possible tax dodging Friday, 21 Nov 2014 | 7:38 AM ET

    PARIS— HSBC bank was placed under formal investigation in France over services it offered to clients required to pay taxes in France, just days after the private banking branch was charged in Belgium with organized fiscal fraud. Switzerland- based HSBC Private Bank said Friday that French investigators demanded a 50 million euro bond. HSBC said the...

  • ECB launches program to buy asset-backed securities Friday, 21 Nov 2014 | 8:39 AM ET

    FRANKFURT, Nov 21- The European Central Bank has started buying asset-backed securities, it said on Friday, in a move to encourage banks to lend and revive the economy. The program is one plank in a strategy which ECB chief Mario Draghi hopes will increase its balance sheet by up to 1 trillion euros. If it falls short of this overall 1 trillion euro mark and fails to...

  • LONDON, Nov 21- Commercial banks' lacklustre appetite for its almost free money could leave the European Central Bank struggling to prime the fragile euro zone economy with another trillion euros as planned. Draghi has set a target of returning the ECB's balance sheet to its level of March 2012-- around 3 trillion euros, compared with the current 2 trillion.

  • NEW YORK, Nov 21- U.S. stock index futures rose on Friday, setting major indexes up for a fifth week of gains, after China's central bank cut its benchmark interest rate for the first time in more than two years to boost its cooling economy. *The People's Bank of China said it was cutting one-year benchmark lending rates by 40 basis points to 5.6 percent.

  • Nov 21- The People's Bank of China said on Friday it will lower its one-year benchmark lending rate by 40 basis points to 5.6 percent and cut its one-year benchmark deposit rate by 25 basis points, effective Nov. 22. It also said it would raise the ceiling for deposit rates to 1.2 times the benchmark level from the previous 1.1 times. VINCENZO LONGO, STRATEGIST AT IG.

  • China unexpectedly cuts rates to support economy Friday, 21 Nov 2014 | 5:52 AM ET

    BEIJING— China's central bank unexpectedly slashed interest rates on Friday to re-energize the world's No. 2 economy, joining a growing list of major economies that are trying to encourage growth in the face of a global slowdown. Meanwhile, the president of the European Central Bank said Friday he was ready to step up stimulus for the 18- country eurozone...

  • BEIJING, Nov 21- China cut its benchmark interest rates for the first time in more than two years on Friday to lower borrowing costs and lift a cooling economy that is on track for its slackest annual growth in 24 years. The People's Bank of China said it was cutting one-year benchmark lending rates by 40 basis points to 5.6 percent. At the same time, the central bank...

  • BEIJING— China's official news agency says central bank cuts interest rate.

  • ECB head willing to step up stimulus Friday, 21 Nov 2014 | 4:08 AM ET

    FRANKFURT, Germany— European Central Bank head Mario Draghi says the eurozone's chief monetary authority is willing to "step up the pressure" and increase its efforts to stimulate the struggling economy. Draghi said Friday at a banking congress in Frankfurt, Germany that if current efforts do not achieve the desired effect the ECB could "broaden even more the...

  • Stimulus merits in focus as ECB weighs action Friday, 21 Nov 2014 | 1:11 AM ET

    FRANKFURT, Germany— Japan's return to recession has renewed questions about the effectiveness of its recent monetary stimulus— and how anything similar would help Europe's struggling economy. The European Central Bank is edging toward the same kind of large-scale bond purchases that the Bank of Japan has used. Yet Japan's recession underlines the limits of...

Contact Banks

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More