Harvey Pitt, Kalorama Partners CEO and former SEC chairman, discusses the "toughened" version of the Volcker Rule and what can be expected from the new regulation. Pitt thinks there will be more restrictions across the board.» Read More
NEW YORK, Oct 29- The dollar rose for a third straight session against major counterparts on Tuesday as traders bought back the currency on a view that markets already priced in expectations the Federal Reserve will maintain its bond-buying program in coming months.
The proposed $13 billion settlement between the Justice Department and JPMorgan Chase & Co is at risk of collapse, the Wall Street Journal reported.
LONDON, Oct 29- Spanish bond yields hit their lowest in nearly six months on Tuesday on investor expectations the Federal Reserve will keep its current level of monetary stimulus until early next year.
*Deutsche Bank, Lloyds profits hit by legal provisions. AMSTERDAM/ ZURICH, Oct 29- Four European banks paid a heavy price on Tuesday in a clean-up of the financial industry, with Rabobank fined $1 billion and three other major lenders preparing for possibly huge legal costs after a string of scandals.
NEW YORK, Oct 29- The dollar climbed for a third straight session against a basket of the world's most actively traded currencies on Tuesday as investors, convinced the Federal Reserve will keep U.S. monetary policy ultra-loose well into next year, trimmed bearish bets.
MEXICO CITY, Oct 29- Mexico's decision to cut interest rates last week is not enough to guarantee strong growth, a central bank board member was quoted as saying on Tuesday as he urged the government to carry out reforms to support the economy.
*Inventory financing growing 10-20 pct a year- Deutsche Bank. LONDON, Oct 29- Booming commodity trade financing in Asia is a rare bright spot for Western banks, forced to withdraw from other areas of commodities due to tougher regulation and capital constraints.
Oct 29- Here is a look at major fines imposed on banks after Dutch lender Rabobank was fined $1.07 billion by U.S. and European regulators. GUIDE TO MAJOR BANKING SCANDALS: Libor- The suspected rigging of the London interbank offered rate, an interest rate used in contracts worth trillions of dollars globally.
NEW YORK, Oct 29- The dollar climbed for a third straight session against a basket of major currencies on Tuesday as investors, convinced the Federal Reserve will keep U.S. monetary policy ultra-loose well into next year, trimmed bearish bets against it.
*Jordan expected to meets 3 to 3.5 pct growth forecast but Syrian impact prevents higher growth. AMMAN, Oct 29- The cost of accommodating hundreds of thousands of Syrian refugees in Jordan is hampering the economy's ability to grow substantially beyond a three to 3.5 percent IMF annual growth target for the next two years, the central bank governor said.
TOKYO, Oct 29- Japan's banking regulator said on Friday that it has ordered the Tokyo branch of Dutch lender Rabobank NV to bolster its compliance after finding that a trader had tried to manipulate the setting of yen Libor rates between May 2006 and August 2010.
We are the best capitalized bank in the world, says Tom Naratil, UBS, CFO, discussing his company's earnings and providing an outlook on the challenges facing the banking giant, despite pending litigation risk.
Small business borrowing rose last month, an index that tracks lending showed on Tuesday, signaling moderate growth ahead for the economy.
U.S. and European regulators ordered Dutch lender Rabobank to pay $1.07 billion to settle allegations it aided a scheme to rig Libor.
*Deutsche Bank earnings hit by 1.2 bln euro legal provisions. ZURICH/ FRANKFURT, Oct 29- Three of Europe's biggest banks suffered third quarter hits on Tuesday as the relentless rise in the cost of an industry clean up after a string of scandals shows no signs of abating.
*Moves in dollar seen driven by position adjustment. LONDON, Oct 29- The dollar rose against a basket of currencies on Tuesday as investors, already persuaded the Federal Reserve will keep policy ultra-loose in the near term, trimmed bets against it. However, it held close to Friday's 78.998, its lowest since Feb. 1.
*Fed to start two-day meeting later on Tuesday. LONDON, Oct 29- German Bund futures hit two-month highs on Tuesday on investor expectations the Federal Reserve will maintain its current level of monetary stimulus until early next year.
Morgan Stanley plans to seek Federal Reserve approval to widen the $500 million share buyback plan, The Wall Street Journal reported.
TOKYO, Oct 29- Japan's financial regulator will widen a probe next week into whether all three of the country's big banks, including top lender Mitsubishi UFJ Financial Group, conducted transactions with Japanese gangsters, known as the yakuza.
BEIJING, Oct 29- China's central bank sought to reassure money market traders that a spike in short-term interest rates does not signal a dramatic tightening of liquidity, sources said, in an apparent move to avoid a repeat of a credit panic that roiled markets in June.