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  • OTTAWA, March 4- The Bank of Canada held interest rates steady on Wednesday, in line with indications it sent out over the past two weeks, signaling it was satisfied with how markets and the economy have reacted to its surprise rate cut in January. "It suggests steady for now, maybe forever," said Royal Bank of Canada chief economist Craig Wright. Canadian Imperial Bank...

  • KIEV, March 4- A month ago, Natalia Sorokun, 40, went to a downtown Kiev branch of Delta Bank to ask if the bank was solid enough to continue keeping her safe deposit box of valuables there. Now, a day after Ukraine's central bank declared Ukraine's fourth largest bank insolvent, Sorokun and other Delta Bank customers could only knock on the bank's locked door in hope...

  • WASHINGTON/ NEW YORK, March 4- The Federal Reserve struggled with the message being sent by its role in bank bailouts and worried about the impact of a bond-buying program aimed at easing the 2007-2009 financial crisis, according to transcripts released by the U.S. central bank on Wednesday. In a prescient view of future policy, then-San Francisco Fed President...

  • UPDATE 2-Turkey's watchdog seizes Bank Asya stake Wednesday, 4 Mar 2015 | 12:43 PM ET

    ISTANBUL, March 4- Turkish banking regulators on Wednesday seized a small stake in the Islamic lender Bank Asya over an alleged illegal share sale, the latest round in a battle between Ankara and a U.S.-based Muslim cleric. The campaign has added to investor fears that political interventions are damaging Turkey's financial system. The banking watchdog said...

  • Transcripts reveal Fed confronting chaotic banking system Wednesday, 4 Mar 2015 | 12:04 PM ET

    During an emergency call on the morning of Jan. 16, 2009, after the government had announced a $20 billion bailout for Bank of America, then-Fed Chairman Ben Bernanke declared that he was unwilling to allow "the failure of a firm the size of Bank of America." The call underscored the chaotic situation facing the Fed and other government agencies as they confronted a...

  • OTTAWA, March 4- The Bank of Canada held interest rates steady on Wednesday, in line with signals it sent out over the past two weeks, saying it was satisfied with how markets and the economy reacted to its surprise rate cut in January. The central bank shocked traders by taking the aggressive step of easing its benchmark rate by 25 basis points in January in response...

  • WASHINGTON/ NEW YORK, March 4- The Federal Reserve struggled with the message being sent by its involvement in bank bailouts in 2009 and worried about its implementation of a bond-buying program aimed at easing the financial crisis, according to transcripts released by the U.S. central bank on Wednesday. "Until the reinforcements arrive, I don't think we have...

  • UPDATE 1-Fed's Evans wants no rate hikes until early 2016 Wednesday, 4 Mar 2015 | 11:15 AM ET

    *Evans does not rule out removing' patient' in March. LAKE FOREST, Ill., March 4- The Federal Reserve should wait until next year before raising interest rates or risk undermining the very recovery it has helped engineer, a top U.S. central banker said on Wednesday. "Given uncomfortably low inflation and an uncertain global environment, there are few benefits and...

  • *Higher fund flows coming from eastern Europe to Dubai. Swiss-based but Abu Dhabi- owned Falcon would be open to deals covering its core target markets of the Gulf, Eastern Europe, Africa and South East Asia, according to Erich Pfister, who took up the role in January. The last major acquisition by Falcon, which manages around 16 billion francs of assets, was the...

  • Federal Reserve took a swipe on Tuesday at unlawful and unethical behavior at banks, saying it raises questions over whether the values embedded on Wall Street have improved enough in recent years. While other Fed officials and bank regulators have complained about the ethics and culture on Wall Street, the stern comments from the country's top financial...

  • LONDON, March 4- Standard Chartered has no plans to tap shareholders for cash, it said on Wednesday, despite reporting a 25 percent drop in profits last year on the back of soaring bad loans. The Asia- focused bank said it would not take "knee-jerk actions" and vowed instead to cut costs and shrink its loan book in an effort to quell concerns about its capital strength,...

  • LUXEMBOURG— A European Union high court has handed Britain and its London financial hub a victory by ruling against a European Central Bank decision that would have forced financial institutions clearing trades in euros to be based in the eurozone. Britain is part of the EU but doesn't use the euro. London is Europe's predominant financial center and the ECB's...

  • According to two sources with direct knowledge of the matter and another who had been briefed by police, the police last month froze one account at Industrial and Commercial Bank of China and another at Bank of China, both held in Shanghai by Trafigura Private Limited, a Singapore unit. Trafigura will be anxious to avoid any disruption to its business in Shanghai,...

  • MUMBAI, March 4- India's central bank unexpectedly lowered its policy rate for the second time this year on Wednesday, backing a government that is pushing to revive economic growth as inflation cools. "Given low capacity utilisation and still-weak indicators of production and credit off-take, it is appropriate for the Reserve Bank to be pre-emptive in its...

  • NEW DELHI— India's central bank on Wednesday unexpectedly cut a key interest rate by a quarter percentage point, the second such reduction this year as the bank lends support to government efforts to boost economic growth. But India's inflation rate has fallen substantially in recent months as global oil prices have dropped sharply. India's Prime Minister...

  • SHANGHAI, March 4- China's central bank has cut the interest rate on its short-term lending facility for its local branches and nearly tripled the funds available under the programme, in its latest bid to bring down financing costs, sources told Reuters on Wednesday. The overall SLF quota will be increased by 220 billion yuan to 340 billion yuan, the sources added.

  • DIARY-Top Economic Events to March 17 Wednesday, 4 Mar 2015 | 12:01 AM ET

    LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and monetary policy before the Lake Forest-Lake Bluff Rotary Club 2015 Economic Breakfast- 1400 GMT. KANSAS CITY, United States- Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy at an event hosted by...

  • TOKYO, March 4- The dollar held firm near an 11- year high versus a basket of major currencies on Wednesday, as investors awaited U.S. economic data and a European Central Bank meeting later this week for fresh clues on policy direction. On Tuesday it had touched a high of 95.570, its strongest level since September 2003. Against the yen, the dollar held steady at...

  • *Bank of Canada seen holding policy steady. TOKYO, March 4- Asian shares and the dollar eased on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2...

  • WASHINGTON— The Federal Reserve has worked hard to correct the mistakes exposed by the 2008 financial crisis, Fed Chair Janet Yellen said Tuesday. Yellen's remarks came in a speech in New York to the Citizens Budget Commission. Copies of the speech were made available in Washington.

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