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
Wells Fargo has banned its employees from loaning their own money on peer-to-peer lending platforms. CNBC's Kayla Tausche explains the risks involved with the lending strategy.
CNBC's Kayla Tausche reports on how advance deposit works for 4 big banks including Wells Fargo. Also, how peer-to-peer lending rules changed at Wells Fargo.
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ABUJA, Jan 21- Nigeria's central bank lifted the cash reserve requirement on public sector deposits held by banks on Tuesday, seeking to stabilise the naira and reflecting its concern about loose fiscal policy ahead of elections next year.
Some traders attributed those worries stemming from an article in The Wall Street Journal that said the U.S. central bank will likely reduce its monthly purchases of Treasuries and mortgage-backed securities by $10 billion to $65 billion.
IMF'S BLANCHARD SAYS DOESN'T EXPECT U.S.
*Platinum below 2-1/ 2 month high on strike notices. LONDON, Jan 21- Gold fell one percent on Tuesday, dragged down by firmer equities and a stronger dollar after renewed talk that the U.S. A report in the Wall Street Journal said the central bank was on track to pare the programme for the second time in six weeks by another $10 billion a month to $65 billion.
LONDON, Jan 21- The dollar strengthened on Tuesday in tandem with U.S. In contrast, expectations are growing that the Bank of Canada may loosen its policy stance on Wednesday in the face of weakening economic data. The euro fell to a low against the dollar of $1.3525 after Germany's ZEW economic sentiment indicator for January came in below forecasts.
Monsignor Nunzio Scarano, now on trial for an alleged plot to smuggle 20 million euros, was charged with laundering millions through the Vatican bank.
*Platinum below 2-1/ 2 month high on strike notices. LONDON, Jan 21- Gold fell on Tuesday, dragged down by firmer equities and a stronger dollar after renewed talk that the U.S. A report in the Wall Street Journal said the central bank was on track to pare the programme for the second time in six weeks by another $10 billion a month to $65 billion.
ISTANBUL, Jan 21- Turkey's central bank finds itself caught between economic reality and political pressure as it meets to decide on interest rates on Tuesday, with most economists expecting it to shy away from the decisive rate hike investors are crying out for.
SHANGHAI, Jan 21- China's central bank moved to head off another destabilising cash squeeze on Tuesday with a big injection of cash- flagged in advance in a surprising act of transparency to relieve anxious markets.
*ECB expected to inject 105 bln euros in one-week loans. LONDON, Jan 21- German two-year bond yields hovered around six-week lows on Tuesday before a European Central Bank offering of short-term loans to banks that could intensify speculation of further policy easing.
LONDON, Jan 21- The dollar gained against the yen on Tuesday, helped by U.S. A better-than-expected number could nudge the euro higher, but rallies will be sold into given widespread expectations that the European Central Bank will keep policy accommodative and may even cut rates if money market conditions tighten.
HONG KONG, Jan 21- China shares rebounded from a six-month low on Tuesday, lifting Hong Kong markets, as cash rates eased in the mainland after the Chinese central bank offered emergency funds to ease the latest cash squeeze. The CSI300 of the largest Shanghai and Shenzhen A-share listings, which closed on Monday at its lowest since July 9, rose 0.7 percent.
SHANGHAI, Jan 21- China's money market rates fell sharply on Tuesday after the central bank dumped more than 255 billion yuan into the financial system, easing concerns another credit crunch was underway less than a month after a late December squeeze.
HONG KONG, Jan 21- China shares listed in Hong Kong rebounded more than 2 percent from a 4-1/ 2- month low early on Tuesday as mainland money rates fell after the Chinese central bank offered emergency funds to ease the latest cash squeeze.
SYDNEY, Jan 21- Asian markets crept higher on Tuesday as Japanese stocks rebounded and Chinese money rates eased, while the U.S. dollar got a fillip from a report the Federal Reserve would again trim its bond buying next week.
China's push to reform shadow banking is set for its first big test as a high-yield trust investment product appears set to default.
*About 2.3 bln euros wiped off Deutsche Bank's market cap. PARIS, Jan 20- European stocks inched lower in thin trade on Monday, slipping from 5-1/ 2 year highs as Deutsche Bank's surprise quarterly loss prompted investors to cash in recent sharp gains on banking stocks.