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  • DIARY - Top economic events to Dec 4 Thursday, 20 Nov 2014 | 7:01 PM ET

    WASHINGTON- Federal Reserve Board Governor Daniel Tarullo testifies on " Physical Commodities" before the Senate Homeland Security& Governmental Affairs permanent subcommittee on investigations in Washington- 1430 GMT. WASHINGTON- New York Federal Reserve Bank President William Dudley testifies to Senate Banking subcommittee on Financial...

  • Fed to review its oversight of big banks Thursday, 20 Nov 2014 | 7:00 PM ET

    The Fed's announcement came a day before a Senate subcommittee is scheduled to hold a hearing on whether Fed examiners— particularly in the Fed's New York operation— have become too cozy with the big banks they oversee. The bailout of Wall Street banks during the 2008 financial crisis brought the issue forward. William Dudley, the president of the New York Fed,...

  • NEW YORK, Nov 20- U.S. banks are taking on "incredible" risk in corporate and commercial lending, offering interest rates and terms that do not reflect potential losses, BB&T Corp Chairman and Chief Executive Kelly King said on Thursday. U.S. commercial banks had $1.74 trillion worth of commercial and industrial loans as of October on a seasonally adjusted basis,...

  • MEXICO CITY, Nov 20- The leaders of Mexico's fourth largest bank Banorte resigned on Wednesday after a power struggle, and the board named a new chairman who analysts believe could push through a merger with a smaller Mexican bank. Grupo Financiero Banorte said on Thursday that its chairman and chief executive had resigned. "The changes determined by the board...

  • Separate studies to be undertaken by the Fed's Washington- based Board of Governors and its Office of Inspector General are meant to ensure that "divergent views" about the state of large banks are adequately aired. The issue will be the focus of a Senate Banking committee hearing on Friday that features New York Fed President William Dudley as the chief witness.

  • WASHINGTON, Nov 20- New York Federal Reserve President William Dudley defended the system for supervising major banks, saying it has been dramatically improved and made safer since the 2007-2009 financial crisis. In testimony prepared for a Senate Banking Committee hearing on Friday but released on Thursday, Dudley said "it is undeniable that banking...

  • U.S. Fed launches review of supervision of major banks Thursday, 20 Nov 2014 | 4:15 PM ET

    WASHINGTON, Nov 20- The U.S. Federal Reserve has launched a review of how it oversees major banks, calling on its inspector general to help with the probe after a series of critical reports. Separate studies to be carried about by the Fed's Washington- based Board of Governors and its Office of Inspector General are meant to ensure that "divergent views" about the...

  • BRUSSELS/ LONDON, Nov 20- Britain suffered an embarrassing defeat in its attempt to block the European Union's new limits on bank bonuses on Thursday, withdrawing its legal challenge after an adviser to the bloc's top court made clear it was unlikely to succeed. Britain, home to the City of London where most of the bankers hit by the cap are based, said the law would...

  • WASHINGTON, Nov 20- Goldman Sachs Group Inc on Thursday took the lead in rejecting allegations by a powerful U.S. Senate subcommittee that Wall Street banks were exploiting physical commodity markets to manipulate prices and gain unfair trading advantages. The public airing of concerns about banks' ownership of physical commodities and assets from...

  • Despite furore, bankers' earnings keep climbing Thursday, 20 Nov 2014 | 11:45 AM ET

    LONDON, Nov 20- At a time when scandal-hit bank traders are under fire from regulators, prosecutors and the public, there is no sign that the backlash is curbing their earning power. The median annual compensation package for director-level employees on trading floors in London, such as senior and chief dealers, is growing at least 10 times faster than that of the...

  • Nov 20- Goldman Sachs Group Inc said it fired a junior employee and a supervisor over the leaking of confidential information from the Federal Reserve Bank of New York. The confidential information provided Goldman a window into the New York Fed's private insights, including details about at least one of the bank's clients, the New York Times reported, citing...

  • Goldman Sachs ties to NY Fed backfire     Thursday, 20 Nov 2014 | 10:19 AM ET

    CNBC's Mary Thompson provides an update on the investigation into the tapes released by a former New York Fed employee regarding Goldman Sachs.

  • Banking culture promotes cheating: Research Thursday, 20 Nov 2014 | 7:48 AM ET

    The business culture in the banking industry weakens the will to be honest, according to a new study by a university in Switzerland.

  • BRUSSELS/ LONDON, Nov 20- Britain's relations with the European Union took another knock on Thursday when its legal challenge to a limit on bankers' bonuses was rejected by an adviser to the bloc's top court. Britain, home to the City of London where most of the bankers hit by the cap are based, said the law would push up fixed pay and goes beyond the EU's powers, a...

  • Role of 3 big banks in commodities risky: Report Thursday, 20 Nov 2014 | 7:44 AM ET

    Three big banks that have owned commodities exposed themselves to risk and in some cases manipulated prices, a Senate investigation has found.

  • *Ukraine losses in Q3 at 14.4 bln rbls. MOSCOW, Nov 20- Russia's second-largest bank VTB expects a tough end to the year after posting a 98 percent slide in third-quarter profit because of higher provisions for bad loans, an economic slowdown and losses over Ukraine. The state-controlled bank, which was sanctioned by the United States and European Union over...

  • Wells Fargo to cut rates for some student loans Thursday, 20 Nov 2014 | 6:54 AM ET
    A Wells Fargo bank branch in New York City.

    Wells Fargo is launching a new loan modification program that includes an option to lower the interest rate for certain qualified borrowers.

  • BRUSSELS/ LONDON, Nov 20- Britain's relations with the European Union took another knock on Thursday when its legal challenge to a limit on bankers' bonuses was rejected by an adviser to the bloc's top court. Britain, home of Europe's largest financial centre, said the law will push up fixed pay and goes beyond the EU's treaty powers, a sensitive subject at a time of...

  • MOSCOW, Nov 20- VTB, Russia's second largest bank, expects a small net profit for 2014 after being hit by provisions for loan impairment, its Chief Financial Officer Herbert Moos told a conference call on Thursday. Earlier on Thursday, VTB reported a nine-month net profit of 5.4 billion roubles. It had 157.8 billion roubles in provision charges.

  • EU Court adviser backs cap on bank bonuses Thursday, 20 Nov 2014 | 5:00 AM ET

    BRUSSELS— A key adviser to the European Union's highest court is siding against Britain and wants the EU cap on bankers' bonuses to be maintained. Britain says the rules will lead to an increase in bankers' fixed pay, drive away talent and weaken Europe's financial industry, the heart of which is in London's City. The issue of whether the EU should make decisions...

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