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John Hourican, CEO of the Bank of Cyprus, says the banking issues in Portugal are "unfortunate" as it has come at a time when banks are trying to restore confidence in the sector.
Giovanni Sabatini, managing director of the Italian Banks Association, says Italian Banks are in "good shape" and have worked hard to prepare for the asset quality review.
SHANGHAI, July 11- China's yuan fell against the dollar on Friday, with traders saying there was little evidence of strong dollar supply even after Beijing posted a second month of trade surpluses in June. In comparison, the People's Bank of China fixed its official midpoint at 6.1469, down 0.04 percent from Thursday's fixing.
Ivan Tan, Director of Financial Institutions Ratings at Standard & Poor's, weighs the pros and cons of a possible merger between three of Malaysia's largest financial lenders.
SINGAPORE, July 11- Trade and Development Bank of Mongolia, or TDBM, pulled a planned U.S. dollar bond offering because of financial market turmoil triggered by a debt crisis at Portugal's Banco Espirito Santo, IFR reported, citing a banking source.
SHANGHAI, July 11- China's central bank is looking into allegations by a state broadcaster that Bank of China, the country's fourth largest lender, has been laundering money offshore for clients, the official Xinhua news agency said on Friday.
SYDNEY/ TOKYO, July 11- The yen was poised to end the week higher on Friday, having jumped to a five-month peak against the euro overnight as banking woes in Portugal drove global equities lower and lifted demand for the safe-haven currency.
Brian Waterhouse, Senior Analyst , Japan Banks at CLSA, explains why Japanese banks are mapping out long-term expansion plans in Southeast Asia.
Marty Mosby, Banking Analyst at Vining Sparks, outlines the factors that will help Wells Fargo see a pickup in its second quarter earnings.
LIMA, July 10- Peru's central bank surprised the market by lowering the benchmark interest rate a quarter percent to 3.75 percent on Thursday, citing sluggish growth and stressing that more cuts will not necessarily follow. The central bank sees Peru's potential growth rate, the pace at which GDP can rise without fanning inflation, at 6 percent.
James Lowell, CIO of Adviser Investments, expects markets to recoup losses once investors realize that fears over Portugal's banking sector are "individual and isolated."
Three of Malaysia's largest financial institutions are in talks to combine, which would create one of southeast Asia's biggest lenders by assets.
LIMA, July 10- Peru's central bank surprised the market by cutting the benchmark interest rate a quarter percent to 3.75 percent on Thursday, citing sluggish economic growth and saying it is not the start of a series of reductions.
LISBON, Portugal— The specter of Europe's financial crisis is back to haunt investors. The tensions center on Espirito Santo International, a holding company that is the largest shareholder in a group of Espirito Santo family companies, including the parent of Portugal's largest bank, Banco Espirito Santo.
Fed vice chair Stanley Fischer said it is unclear that breaking up the largest U.S. banks would help stabilize the country's financial system.
NEW YORK/ LONDON, July 10- Gold surged to 3-1/ 2 month highs on safe-haven buying on Thursday after questions raised about the health of Portugal's top-listed bank sparked worry that a new euro zone banking crisis might be in the offing.
CAMBRIDGE, Mass, July 10- The Federal Reserve's new vice chair all but dismissed the idea of breaking up the largest U.S. banks, saying on Thursday it is unclear that such a complex task would help stabilize the country's financial system.
Federal judge orders IRS to explain lost emails US stocks slide over European banking worries Mayor: Atlantic City shift from gambling painful Fed No. 2 Fischer says care needed to avert crisis Aereo presses case despite Supreme Court setback Portuguese bank fears rekindle euro market tension FTC sues Amazon over kids' app charges Agriculture industry seeks to create right to farm WellPoint CEO: Insurer readies for technology wave Oil rises for first time in 2 weeks, near $103
Stocks fell Thursday as worries about the soundness of a European bank spooked U.S. investors, prompting them to sell off stocks and snap up less risky assets like gold and governments bonds.
WASHINGTON— The Federal Reserve's new No. 2 official says regulators must continue to work to end the need for the government to bail out big banks in a crisis. Fischer, a former official of the International Monetary Fund and a head of the Bank of Israel, said regulators "need to be vigilant" in trying to prevent the next crisis— "and there will one."
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