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
The U.S. Senate approved Federal Reserve Governor Sarah Bloom Raskin to be the No. 2 official at the Treasury Department.
*U.S. central bankers stressing "gradual" approach. SAN FRANCISCO/ NEW YORK, March 12- Janet Yellen has a message to markets: the Federal Reserve will keep interest rates low for a while yet and, when it does begin to tighten monetary policy, it will do so only slowly.
*Italy no longer cause for alarm among foreign investors. Italy's largest bank by assets UniCredit and troubled lender Monte dei Paschi di Siena this week announced the write-downs- of 13.7 billion and 2.75 billion euros respectively- as they prepare for an industry-wide health check that European lenders are undergoing this year.
MOSCOW, March 12- President Vladimir Putin's engagement in Ukraine threatens to divert Russia's central bank from its goals of inflation-targeting and freeing up the rouble currency, undermining the credibility it has built up.
Every day, trillion of dollars are tied up due to our out-of-date banking system. CNBC's Steve Liesman discusses how the Fed has planned to address the problem and move to real-time payment.
Simon Maughan, head of product specialist group at OTAS Technologies, says the European Central Bank's asset quality review has "more credibility" than anything before.
MOSCOW, March 12- Russia's central bank will probably keep key policy rates on hold at its regular meeting on Friday, economists say, but any escalation of tensions over Ukraine could prompt a further tightening in monetary policy.
SHANGHAI, March 12- China's yuan fell slightly on Wednesday as corporate dollar demand appeared to exceed supply, with the recent central bank-engineered yuan devaluation translating into genuinely bearish market sentiment, traders said.
A liberalization of interest rates and a rise in credit risks could prove damaging for Chinese lenders, thus it's important to maintain systemic stability, says Ken Peng, Asia Investment Strategist at Citi Private Bank.
*PBOC may cut bank reserves if GDP growth below 7.5 pct- sources. BEIJING, March 12- China's central bank is prepared to take its strongest action since 2012 to loosen monetary policy if economic growth slows further, by cutting the amount of cash that banks must keep as reserves, sources involved in internal policy discussions say.
*Germany's Schaeuble points to differences. BRUSSELS, March 11- European ministers agreed on Tuesday to strengthen a scheme to tackle troubled banks, seeking to win the blessing of EU lawmakers for a reform to fortify the euro zone against crises. It could even fall to European Union leaders, who meet in Brussels on March 20-21, to decide.
March 11- As a symbol of Britain's ill-advised romance with banking and dubious foreign money, a new prime London property investment fund is hard to beat.
*Fannie Mae, Freddie Mac would be liquidated under plan. WASHINGTON, March 11- The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take years to resolve.
FRANKFURT, March 11- The European Central Bank will press euro zone banks to revalue their assets and take a more realistic view on likely losses when it probes their balance sheets in the coming months, signalling a new, more aggressive era of banking supervision.
FRANKFURT, March 11- The European Central Bank will press banks to revalue their assets and take a more realistic view on likely losses when it probes their balance sheets in coming months, signalling a new, more aggressive era of banking supervision in the bloc.
March 11- Among the most crucial elements of the European Central Bank guidelines released on Tuesday for this year' asset quality review of euro zone lenders is how the results will flow through to the way banks present themselves to markets and investors.
March 11- The European Central Bank on Tuesday released the guidelines for its review of balance sheets at the euro zone's 128 largest banks, which it plans to complete in October. The exercise will cover 3.72 trillion euros of risk-weighted assets.
The CEO of UniCredit has told CNBC the bank will focus on "growth and profitability" after reporting a record annual net loss of $19.4 billion.
LONDON, March 11- British oil company BP said none of its currency traders had engaged in inappropriate trading activity, after a media report alleged one of them had received information from a dealer at Lloyds Banking Group.
WASHINGTON, March 11- The leaders of the U.S. Senate Banking Committee on Tuesday outlined plans for legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac that they said would continue to provide access to long-term, fixed-rate mortgages.