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WASHINGTON, Aug 5- U.S. regulators on Tuesday told banks to come up with better living wills, inching a step closer to taking action if these plans to avoid taxpayer bailouts during a future crisis were still deficient next year.
CNBC's Mary Thompson reports regulators have told banks their "living wills" need improvement and ask banks to address the shortcomings.
So-called living wills submitted by big banks are "not credible" and have to be revised by next July, federal regulators said on Tuesday.
WASHINGTON, Aug 5- U.S. regulators on Tuesday told banks to come up with better plans to avoid taxpayer bailouts during a future crisis, inching a step closer to taking action if they still found the so-called living wills deficient next year.
FRANKFURT, Aug 5- Deutsche Bank named U.S.-Swiss lawyer Nadine Faruque to lead a reform of its regulatory compliance practices, as it battles to cut a long and expensive list of investigations and potential settlements that have dogged it since the financial crisis.
Vidyo provides the technology behind Google's video chat "Google Hangouts." Ofer Shapiro, Vidyo CEO, launches a new banking application designed to aid consumers without going to a bank.
*Bank takes 708 mln hit from Banco Espirito Santo exposure. PARIS, Aug 5- France's Credit Agricole took a 708 million euro hit from its stake in troubled Portuguese lender Banco Espirito Santo, nearly wiping out its second-quarter net profit.
INVESTMENTS TO BE IN CONSTRUCTION, CLEAN ENERGY, BANKING, INFORMATION TECHNOLOGY SECTORS- WHITE HOUSE OFFICIAL.
Credit Agricole said it took a $950 million hit related to its stake in Espirito Santo that nearly wiped out the bank's second-quarter net profit.
NEW YORK, Aug 4- Wall Street banks have found a U.S. review of their junk-rated loans to have yielded similar results to last year, easing some concern among bankers about a crackdown on one of their most lucrative businesses.
Bill Fitzpatrick, Senior Global Equity Analyst at Manulife, says Monday's earnings statement indicates that HSBC is "frustrated" with the lack of continuity among global regulators.
Treasury Secretary Jack Lew gives brief remarks before the Inaugural U.S.-Africa Business Forum in Washington- 1420 GMT. LONDON- Bank of England holds Monetary Policy Committee meeting. Defense Secretary Chuck Hagel visits India.
MUMBAI, Aug 5- India's central bank is expected to keep interest rates steady while adopting tougher rhetoric on inflation at a policy review on Tuesday due to growing concerns that disappointing monsoon rains will lead to a surge in food prices.
*Recent surge in Angola bad loans due to economy slowdown. JOHANNESBURG, Aug 4- Angola appointed administrators to manage the indebted local unit of Portugal's troubled lender Banco Espirito Santo on Monday and said a sovereign guarantee for most of its loans would be revoked.
*HSBC set to benefit from higher interest rates. LONDON, Aug 4- Europe's largest bank HSBC warned that regulators' zeal to punish wrongdoing was putting its staff off taking reasonable business risks, as it reported a 12 percent drop in first-half profit.
NEW YORK, Aug 4- Bond prices rallied and European bank stocks rose on Monday after Portugal devised a plan to prevent the collapse of one of its biggest lenders.
The $6.6 billion bailout of Portugal’s largest bank poses a warning on exposure to “fragile” emerging markets, analysts have cautioned.
NEW YORK, Aug 4- Bank shares helped Wall Street rebound on Monday from a sharp weekly, following a rescue deal for Portugal's largest listed lender and supported also by earnings from companies such as Berkshire Hathaway.
LONDON- Europe's largest bank HSBC warns that regulators' zeal to punish wrongdoing is putting its staff off taking reasonable business risks, as it reports a 12 percent drop in first-half profit. Portugal in $6.6 bln rescue of Banco Espirito Santo.
*Gold stabilises after falling 1.1 pct last week. LONDON, Aug 4- Gold edged lower on Monday as a rise in banking stocks lifted European shares, but losses were limited after Friday's surprisingly weak U.S. payrolls data dampened speculation the Federal Reserve will raise interest rates soon.
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