Bank of America agreed to pay $16.65 billion to end investigations into mortgage securities that it sold in the run-up to the financial crisis.» Read More
European regulators unveiled more details of the hotly-anticipated stress tests, in an effort to strengthen the region's banks.
LONDON— The Bank of England's consensus on maintaining record-low interest rates has crumbled after more than three years, with two members of the central bank's monetary policy committee voting to increase borrowing costs this month.
TOKYO, Aug 20- Citigroup Inc is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on Wednesday, as it waves the white flag on a venture plagued by regulatory troubles and anaemic lending.
SYDNEY, Aug 20- It is not often the biggest bear on a currency is its own central bank, yet the Reserve Bank of Australia has been warning for months that the Aussie dollar will slide to match the falling prices of the country's key commodity exports.
Paul Dowling, Principal Analyst at East and Partners, expects the Bank of China and ICBC to outperform its peers in terms of earnings, but warns of risks from bad debt provisioning.
TOKYO, Aug 20- Citigroup Inc is considering the sale of its Japanese retail unit and has approached about 10 banks, a source with direct knowledge of the matter said on Wednesday, as the U.S. banking company struggles to turn around its Japanese operations.
Citigroup told the US appeals court that Argentina's banking license may be at risk as a result of the standoff between the country and hedge funds.
ALBANY, N.Y.— Standard Chartered Bank reached an agreement with New York regulators to pay a $300 million penalty and suspend dollar exchanges through its New York branch for high-risk retail business clients at its SCB Hong Kong subsidiary.
Standard Chartered's Hong Kong and UAE businesses both had a "significant amount of the potentially high-risk transactions."
NEW YORK, Aug 19- Citigroup has told the U.S. appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff. Citi expects to receive about $5 million from Argentina ahead of its next coupon payment deadline of Sept. 30.
Aug 19- Citigroup Inc is considering the sale of its retail-banking business in Japan, the Wall Street Journal said on Wednesday, citing people familiar with the matter. Citigroup is considering a possible auction for the sale, the Journal reported.
SOFIA, Aug 19- Hundreds of angry depositors at Bulgaria's Corporate Commercial Bank staged protests in Sofia and several other cities on Tuesday, demanding access to their accounts that have been frozen since the bank was shut down in June.
LONDON, Aug 19- Europe's banks have done the heavy-lifting in the toughest ever test of their financial strength, but an intensive quality assurance process and decisions still to be taken by supervisors means they can't work out how they've fared.
WASHINGTON, Aug 19- U.S. consumer prices barely rose in July as declining energy costs partially offset increases in food and rents, which could give the Federal Reserve ammunition to keep interest rates low for a while. The Labor Department said on Tuesday its Consumer Price Index edged up 0.1 percent last month after increasing 0.3 percent in June.
Ahead of the release of second quarter earnings on Tuesday, John Caparusso, Global Head of Banks, Standard Chartered Bank, discusses his expectations for Bank of China.
TOKYO, Aug 19- The dollar steadied on Tuesday after Monday's gains on upbeat U.S. housing data and a rise in U.S. bond yields, but traders are waiting for hints on Federal Reserve policy intentions before they test major resistance levels.
SYDNEY- Reserve Bank of Australia will release the minutes of its August policy board meeting- 2340 GMT. SALZBURG, Germany- Federal Reserve Bank of New York Deputy General Counsel and Senior Vice President Joyce Hansen, Austrian National Bank Deputy Governor Andreas Ittner and Bundesbank Board member Andreas Dombret speak at Salzburg Global Seminar.
David Marshall, Senior Analyst, Asia-Pacific Financials at CreditSights, says the continued rise in loans will support earnings growth in major Chinese lenders.
A former Rabobank employee pled guilty to participating in a plot to manipulate the Yen Libor rate, the second employee of the Dutch lender to do so.
Anat Admati, Stanford Business School and author of "The Bankers New Clothes," outlines ways to fix the banking system.
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