Marty Mosby, Banking Analyst at Guggenheim Partners, tells CNBC's Cash Flow that the Volcker Rule has already been priced into banking stocks and interest rates.» Read More
But in a new report released on Monday, the World Bank warns that while some services, like low-fee accounts, clearly benefit the poor and small firms, others- such as microcredit, microinsurance, and debt relief- can do more harm than good.
Amid Libor probes big banks are considering banning traders from online chat rooms seen by regulators as venues for collusion and market manipulation.
KHARTOUM, Nov 11- Sudan's central bank has devalued the Sudanese pound by 22.6 percent against the dollar, the second such move in little over a year as the African country struggles with hard currency shortages. Sudan's economy has been in turmoil since South Sudan's secession in 2011 took away of three-quarters of oil production.
CNBC's Kate Kelly reports Wall Street is cracking down on the use of instant messaging and chat rooms on the trading floor.
KHARTOUM, Nov 11- Sudan's central bank has devalued the Sudanese pound by around 30 percent against the dollar, the second such move in little over a year as the African country struggles with hard currency shortages. Sudan's economy has been in turmoil since South Sudan's secession in 2011 took away of three-quarters of oil production.
In both the Libor-rigging scandal and the unfolding foreign exchange-fixing investigations, traders’ use of chat rooms seems to have played a key role.
*Prices hits lowest level since Oct. 17. LONDON, Nov 11- Gold hit three-and-a-half week lows on Monday after a surprise surge in U.S. jobs growth reignited speculation the Federal Reserve could soon start scaling back its monetary stimulus, denting bullion's appeal.
SHANGHAI, Nov 11- China's yuan barely moved against the dollar on Monday after the central bank set a slightly weaker official midpoint and state-owned banks continued buying dollars to curb appreciation pressure, traders said.
SYDNEY/ SINGAPORE, Nov 11- The dollar held near a two-month high against a basket of major currencies on Monday, having staged a broad rally after upbeat U.S. jobs data bolstered the case for the Federal Reserve to scale back stimulus as early as next month.
SYDNEY, Nov 11- The U.S. dollar held near two-month highs against a basket of major currencies early in Asia on Monday, having staged a broad rally after upbeat U.S. jobs data bolstered the case for the Federal Reserve to scale back stimulus as early as next month.
*Central banks increasingly rely on surprise tactics. LONDON, Nov 10- After slashing interest rates to almost nothing and printing trillions of dollars, central banks are becoming increasingly reliant on another policy weapon: sucker punching markets.
Nominated by President Barack Obama to succeed Fed Chairman Ben Bernanke when his term expires in January, Yellen will have to endure plenty of heated anti-Fed rhetoric from Republicans on Thursday, when she appears before the Senate Banking Committee.
Angela Merkel's conservatives and the Social Democrats have struck a deal on the contours of a European banking union.
FRANKFURT, Nov 9- The European Central Bank will house new banking supervision staff in its existing Eurotower building as there is no space for them at its new headquarters, it said on Saturday.
PARIS, Nov 9- The European Central Bank can trim interest rates further and provide the banking system with liquidity, ECB Executive Board member Benoit Coeure said on Saturday after last week's rate cut to a record low.
NEW YORK, Nov 8- The U.S. stock market's rally could be put to the test next week if comments from Federal Reserve officials including Janet Yellen add to views the central bank could be scaling back its stimulus plan sooner rather than later.
WASHINGTON, Nov 8- Bank of America Corp asked a federal court on Friday to throw out two U.S. government lawsuits accusing the nation's second-largest bank of defrauding investors during the financial crisis.
LOS ANGELES, Nov 8- A top Federal Reserve official who earlier this year predicted the Fed would likely be done with bond-buying by the end of this year said on Friday he would not "get into" commenting on the timing of any decision to taper.
Bank of America asks federal court to drop two government suits accusing it of defrauding investors during the financial crisis.
RSA Insurance said on Friday it had suspended the top executives of its Irish business while it investigates certain issues.