Britain has been told to pay an extra €2.1 billion to the EU budget within weeks on account of its relative prosperity, Financial Times reports.» Read More
WASHINGTON, July 25- The U.S. House Financial Services Committee said on Friday that it will vote on a bill next week aimed at bringing more transparency to the Federal Reserve, including the controversial requirement of adopting a rules-based approach to its policy.
Alan C. Greenberg, the Wall Street legend behind Bear Stearns' during its rise and collapse during the recession, is dead at 86. NYT reports.
A Citigroup unit will pay $5 million to settle charges that one of its trading venues failed to protect clients' confidential trading data.
WASHINGTON, July 25- The U.S. Federal Reserve on Friday approved a resubmitted capital plan from Zions Bancorporation, part of an annual stress test of banks' financial robustness. In March, the Fed objected to the bank's 2014 capital plan because it did not meet the minimum 5 percent capital requirement in a simulated economic downturn.
FEDERAL RESERVE SAYS IT HAS NOT OBJECTED TO RESUBMITTED CAPITAL PLAN FROM ZIONS BANCORPORATION.
BEIJING, July 25- Chinese banks' bad loan ratio rose to 1.08 percent at the end of June from 1.04 percent in March, the banking regulator said on Friday, adding to concerns a slow economy and cooling property market could weigh on banks and brew up financial risks.
MOSCOW, July 25- Russia's central bank raised its key interest rate by 50 basis points on Friday in an unexpected move and said it could raise rates further, citing concerns about high inflation and geopolitical tensions- an apparent reference to Ukraine.
MOSCOW, July 25- Russia's central bank raised its key interest rate at a regular board meeting on Friday in an unexpected move, citing concerns about high inflation which remains well above the bank's target.
FRANKFURT, July 25- Lending to companies and individuals in Ireland fell at the fastest rate since October 2011 in June, data from the European Central Bank showed on Friday, highlighting one of the impediments to growth in the euro zone.
BEIJING, July 25- Chinese banks' non-performing loan ratio climbed to 1.08 percent at the end of June from 1.04 percent at the end of March, the China Banking Regulatory Commission said on Friday. In a statement reviewing the commission's work in the first half, it urged banks to control credit risks stemming from the property sector and local financing vehicles.
Britain's Lloyds Banking Group confirmed on Friday that it was close to agreeing a settlement over allegations of manipulating benchmark interest rates.
President Barack Obama said on Thursday the Federal Reserve was "properly focused" on unemployment given the relatively tame pace of inflation in the country, offering a broad endorsement of Fed Chair Janet Yellen's policy approach.
OTTAWA, July 24- Canada said on Thursday it will impose sanctions on "a broad range" of Russian companies and banks to punish Moscow for what it said was the illegal occupation of Crimea and "provocative military activity" in eastern Ukraine.
WASHINGTON/ FRANKFURT, July 23- After injecting trillions of dollars into the global financial system over the last six years, the world's central bankers now face a vexing question: why is so little of it showing up in workers' paychecks?
MOSCOW, July 24- Russia's state-controlled banks would have to turn to the state, domestic borrowers or new regions such as Asia if EU sanctions shut off investment, hurting their ability to lend to local businesses and further damaging the country's fragile economy.
The SEC said it had charged Morgan Stanley with misleading investors about two mortgage-backed securities it issued before the 2008 financial crisis.
WASHINGTON, July 24- Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed several hundred transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Thursday.
Barclays filed a motion to throw out the New York attorney general's lawsuit that alleged the bank lied to clients over its high-speed trading venue.
BRUSSELS, July 24- The European Union would target state-owned Russian banks vital to financing Moscow's faltering economy in the most serious sanctions so far over the Ukraine crisis under proposals considered by EU governments on Thursday.
WASHINGTON, July 24- Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Thursday.