China's shadow banking sector is growing rapidly despite tightened rules, taking advantage of a regulatory anomaly to prosper.» Read More
WASHINGTON, Aug 7- A quarter of U.S. families feel they are under economic stress due to the aftershock of the Great Recession and most do not expect their wages to increase in the next year, according to a new Federal Reserve study released on Thursday.
*Ukraine/ Russia sanctions keep stock markets on back foot. LONDON, Aug 7- Concerns about Portugal's banking system and tensions between Western powers and Russia pulled down European stock markets on Thursday.
Aug 7- U.S. banking regulators have ordered Deutsche Bank AG to improve its compliance systems and risk controls, the Wall Street Journal reported, citing people familiar with the matter.
Gildas Surry, banks analyst at BNP Paribas, discusses Commerzbank and the overall European banking sector.
HONG KONG, Aug 7- Banks are being penalised too harshly for lapses in anti-money laundering efforts, Standard Chartered Plc's head of Asia operations said- the second senior bank executive this week to voice frustration over what many in the industry see as overzealous regulation. Standard Chartered later distanced itself from his comments.
*Decision follows European sanctions against Moscow. FRANKFURT, Aug 7- The European Central Bank is tightening the leash on euro zone subsidiaries of major Russian banks by taking control over how much they can borrow from it following European sanctions against Moscow.
*Ukraine/ Russia sanctions keep stock markets on back foot. LONDON, Aug 7- Concerns about Portugal's banking system hit the Lisbon market on Thursday and weighed on European shares, which were also kept in check by tensions between Western powers and Russia.
Bank of America's potential settlement with the DOJ has focused the spotlight on Justice Department official Tony West. CNBC's Kate Kelly provides insight on his bank oversight history.
ISTANBUL, Aug 7- The future of Turkey's Bank Asya looked dim on Thursday after the authorities canceled its tax collection and social security payment deals- a sign according to observers the government may be a step closer to winding down the controversial lender.
Bank of America directors are supportive of its proposed $16 billion to $17 billion mortgage-securities settlement, according to someone familiar with the matter.
JOHANNESBURG, Aug 7- Investors fled African Bank Investments on Thursday, sending its shares tumbling to a near-20 year low as the South African lender looked unable to plug a $790 million hole in its finances from a tide of unsecured loans that have gone bad.
Goldman said it was being investigated for its U.S. alternative trading system and for the potential misuse and circulation of non-public information.
*Draghi expected to flag risks from Ukraine. FRANKFURT, Aug 7- The European Central Bank held borrowing rates on Thursday as it pinned its hopes on lending measures to bolster a struggling euro zone economy facing further damage from the Ukraine conflict. "The euro zone is at a crossroads and the economy can go either way," said James Knightley, an economist with ING.
FRANKFURT, Aug 7- The European Central Bank left interest rates unchanged on Thursday, holding off fresh policy action as it prepares to launch fresh funding for banks next month that it hopes will lift inflation from rock-bottom levels. The first such loans will be available on Sept. 18.
CNBC's Kate Kelly reports the Bank of America is close to a settlement with the government over mortgage bonds.
*Concerns over Portuguese banks hits Lisbon market. LONDON, Aug 7- Concerns about Portugal's banking system hit the Lisbon stock market on Thursday and weighed on European equities, which were also kept in check by tensions between Western powers and Russia.
HONG KONG, Aug 7- Banks are being penalized too harshly for lapses in anti-money laundering efforts, Standard Chartered Plc's head of Asia operations said- the second senior bank executive this week to voice frustration over what many in the industry see as overzealous regulation.
According to sources, Bank of America is nearing a settlement deal with the Department of Justice. Nothing is final yet, reports CNBC's Kate Kelly.
WASHINGTON, Aug 6- Atlanta Federal Reserve Bank President Dennis Lockhart said on Wednesday that despite recent strong U.S. economic growth he still feels the Fed should not raise interest rates until likely the second half of next year.
Atlanta Federal Reserve President Dennis Lockhart, says monetary policy can "deal with the expansion of the pie," but "can't do much" about the distribution of the pie, in discussing trends in income distribution.
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