Carl Weinberg, chief economist at High Frequency Economics, says there will be no "happy ending" in Europe unless the banking sector is made stronger.» Read More
WASHINGTON, Dec 13- U.S. regulators on Friday said that as long as banks issue sound loans, their strategies for complying with new rules for mortgage lending would not raise supervisory concerns.
LONDON, Dec 13- Gold rose 1 percent on Friday, helped by some buying after a sharp plunge in the previous session, but remained vulnerable to downside pressure as the market parsed U.S. economic headlines ahead of a central bank meeting next week. Spot gold climbed 1.2 percent to a session high of $1,238.50 and was still up 1 percent at $1,236.10 an ounce by 1547 GMT.
*EBA to allow exclusions from cap in "justified cases". LONDON, Dec 13- Bankers in the European Union earning more than 500,000 euros a year may be excluded from a cap on their bonuses if they are not major risk takers, according to a revised rule from the EU's banking watchdog on Friday.
*Qualcomm says COO Steve Mollenkopf to become CEO in March. NEW YORK, Dec 13- U.S. stocks were modestly higher on Friday, bouncing back after a three-day drop, though market participants remained cautious ahead of a Federal Reserve policy meeting next week.
U.S. House passes bill for $633 bln in defense spending. NEW YORK, Dec 13- Wall Street was set for a higher open on Friday, poised to bounce back after a three-day decline, though market participants remained cautious ahead of a Federal Reserve policy meeting next week. Federal Reserve could decide to start scaling back stimulus at its policy meeting on Dec. 16-17.
BRUSSELS, Dec 13- Europe's banks face a moment of truth next year when health checks will spell out the repairs they need. On the other side of the coin, states such as Italy and Spain increasingly lean on their banks by selling them debt. "This is a vicious circle," said Andreas Dombret, board member of Germany's central bank, the Bundesbank.
*U.S. House passes bill for $633 bln in defense spending. NEW YORK, Dec 13- U.S. stock index futures edged higher on Friday, rebounding after a three-day decline on Wall Street, though market participants remained cautious ahead of a Federal Reserve policy meeting next week.
LONDON, Dec 13- Bankers in the European Union earning over 500,000 euros a year could be excluded from a cap on their bonuses if they are not major risk takers, according to a revised rule from the bloc's banking watchdog on Friday.
*Bank repayments to ECB rise to 22.65 bln euros. FRANKFURT, Dec 13- Banks will return a massive 22.65 billion euros of crisis loans early to the European Central Bank next week, the ECB said on Friday, putting pressure on money-market rates and on the ECB to ease its policy.
FRANKFURT, Dec 13- Banks will return a blockbuster 22.65 billion euros of crisis loans early to the European Central Bank next week, the ECB said on Friday, as they get into shape for an upcoming balance sheet review.
*Basel sticks with punitive 1,250 pct risk weighting. LONDON, Dec 13- Banks will have to hold more capital to cover investments in some "shadow banks", such as hedge funds and private equity, from January 2017, global regulators said on Friday.
MOSCOW, Dec 13- Sberbank, Russia's largest bank, sees no threat to its business from the political upheaval in Ukraine for now and will be able to absorb losses there thanks to its strong capital base, Chief Executive German Gref told Reuters.
HONG KONG, Dec 13- Hong Kong shares trimmed weekly losses on Friday, with the Chinese banking sector leading a tepid rebound after it was hit this week by worries Beijing would lower 2014 growth targets and signs of quicker interest rate liberalisation. The Hang Seng Index, which closed on Thursday at its lowest since Nov. 18, ended up 0.1 percent at 23,246 points.
LONDON, Dec 13- People using Bitcoins are on their own when it comes to losses, the European Union's banking watchdog said on Friday in a formal warning to consumers on the risks of using unregulated online currencies.
TORONTO, Dec 12- Bank of Nova Scotia's new chief executive, Brian Porter, said the lender will not follow the lead of competitors that have sought to expand their retail banks through U.S. acquisitions, but will instead push to grow within its current Canadian, Latin American and Asian footprint. "Are we going to make a acquisition on the retail side?
MONTREAL, Dec 12- The Bank of Canada is more worried about the downside risks to inflation than the upside ones, Bank of Canada Governor Stephen Poloz said on Thursday, but gave no indication what the next move on interest rates would be. The central bank has held its key overnight rate at a near-record low of 1 percent since September 2010.
*Market pricing in less than 15 pct risk of senior bail-in. *Contagion effects hugely underestimated- analysts. LONDON, Dec 12- European Union plans to force bond investors take their share of losses in failing banks by 2016 could risk undermining appetite for bank debt and make it more difficult for weaker lenders to fund themselves, credit market experts said.
REYKJAVIK, Dec 12- An Icelandic court sentenced four former Kaupthing bankers to jail on Thursday for market abuses related to a large stake taken in the bank by a Qatari sheikh just before it went under in late 2008..
*Hilton Worldwide shares open 6.5 pct above IPO price. NEW YORK, Dec 12- U.S. stocks fell for a third day on Thursday amid uncertainty over how soon the Federal Reserve will trim its market-friendly stimulus program.
BELGRADE, Dec 12- Charging banks for depositing money is one potential tool the European Central Bank could use to encourage banks to put their money to more productive use, ECB Executive Board member Joerg Asmussen said on Thursday. The central bank should be cautious before embarking on that course, he said.