CNBC's Mary Thompson reports Bank of America, Citi Group, and JPMorgan Chase are among 16 big banks being sued by FDIC for manipulating the LIBOR benchmark interest rate.» Read More
MEXICO CITY, Oct 15- Unconventional monetary policy poses a small risk to central bank independence but a far larger threat comes from fiscal authorities if they insist on policies that harm the economy, a senior U.S.
CNBC's Kayla Tausche reports the latest details on the banking giant's quarterly results.
*Germany throws cold water on direct aid for banks. LUXEMBOURG, Oct 15- EU finance ministers agreed on Tuesday to give the European Central Bank sweeping supervisory powers in the euro zone but Germany dug in its heels on how to deal with failing banks, the second stage in building a banking union.
LUXEMBOURG, Oct 15- Spain will probably bring an end to the programme of international aid for its banks on schedule this year, Economy Minister Luis de Guindos told a news conference in Luxembourg on Tuesday.
Citigroup reported a drop in profit after the Fed's decision to continue its bond-buying program longer than expected slowed trading by clients.
Hector Sants has had to take a leave of absence from his new job as head of compliance for Barclays because he is suffering from stress and exhaustion.
*Britain to wave through ECB supervision after EU reassurances. LUXEMBOURG, Oct 15- Britain dropped its objections to granting the European Central Bank sweeping powers of supervision in the euro zone, but EU governments remained divided on Tuesday over how to deal with failing banks ahead of a rapidly approaching December deadline.
Regulators and investors seem to disagree with recent calls for the ouster of the head of JPMorgan over the bank’s expensive legal troubles.
John Butters, senior earnings analyst at Factset, expects most U.S. banks' earnings to be on the low side except for Bank of America Merill Lynch and Morgan Stanley.
Osborne welcomes Chinese banks looking to expand in London, offering to break down regulatory barriers in a bid to reinforce itself as a renminbi hub.
WASHINGTON, Oct 14- Federal Reserve Chairman Ben Bernanke on Monday praised Mexico's central bank for reining in inflation and keeping financial crises at bay. "The improved monetary policy framework, together with other reforms, has thus far helped reduce Mexico's susceptibility to financial crises."
The euro zone debated over who should pay for a clean-up of bust banks, as Franco-German divisions cast clouds over efforts to seal a landmark reform.
If the Madoff trustee is successful in suing banks for ignoring warning signs, the liability of financial firms could be enormous in future cases.
Gerard Cassidy, RBC Capital Markets analyst, weighs in on what he is expecting to see in the financial sector this week as refinancing activity weakens and interest rates rise.
A British court will this week consider whether attempted manipulation of the benchmark interest rate Libor can invalidate loans and other deals.
WASHINGTON, Oct 12- Central banks of advanced economies must try to limit collateral damage to emerging markets when the time comes to tighten monetary policy, the International Monetary Fund's steering panel said on Saturday.
WASHINGTON, Oct 12- Central banks in advanced economies must act carefully when the time comes to tighten monetary policy to avoid destabilizing emerging markets, the International Monetary Fund's steering panel said on Saturday.
WASHINGTON, Oct 11- A drawn-out selection process to choose the next head of the Federal Reserve may have hurt communication on monetary policy over the summer, a senior U.S. central banker said on Friday. President Barack Obama named Fed Vice Chair Yellen on Wednesday as his pick to replace Ben Bernanke at the central bank's helm when his term expires on Jan. 31.
Legal woes weighed on JPMorgan earnings, while mortgage concerns hit Wells Fargo. The "Fast Money" traders take their positions on bank earnings.
After reporting earnings, JPMorgan's CEO Jamie Dimon feels the government is being "unreasonable." Cathy Areu, Washington Post Magazine, and Alex Sanchez, Florida Bankers Association, weigh in.