Alan C. Greenberg, the Wall Street legend behind Bear Stearns' during its rise and collapse during the recession, is dead at 86. NYT reports.» Read More
Under Basel, banks can determine how much debt they can take on by using their own models and computer systems to calculate how risky their assets are, among other methods. In other words, the Basel rules give banks a chance to monkey with their risk models to boost profit.
France warned of potential consequences for transatlantic trade talks if the US went ahead with a $10 billion-plus fine for BNP Paribas.
Star banker Paul Taubman is no longer a solo practitioner in providing advice to corporations, CNBC's David Faber reports.
June 3- Richard Fisher, a top U.S. Federal Reserve official, said on Tuesday he would favor ending the Fed's massive bond-buying program in October, but he does not expect the central bank to start raising interest rates until next year.
Christopher Whalen, Kroll Bond Rating Agency senior managing director, weighs in on Bank of America's latest error where they accidentally inflated the size of its private trading platform. Whalen says much like Citigroup, it's time for a change in governance at BofA.
Just weeks after Bank of America revealed it made a mistake on its capital plan, the bank admits it accidentally inflated the size of its private trading platform, reports CNBC's Kayla Tausche.
Lloyds, along with Deutsche Bank, HSBC and Bank of China was a mandated lead arranger on the loan to finance BP's purchase of crude oil and refined products from Rosneft.
FMHR trader Mike Murphy explains why he likes Bank of America. FMHR trader Pete Najarian likes Citigroup.
ANKARA, June 3- Turkish Prime Minister Tayyip Erdogan said on Tuesday he hoped the central bank would cut interest rates further, criticising its stance and raising further concerns about political interference in monetary policy.
Facing the prospect of a guilty plea in the U.S., the giant French bank BNP Paribas has enlisted the support of its own government, including the president. The NYT reports.
Goldman Sachs is planning to increase the size of its commercial bank and wealth management division as part of a quest for growth.
*India keeps policy repo rate at 8 pct. MUMBAI, June 3- India's central bank governor Raghuram Rajan on Tuesday eased rules to spur bank lending and toned down his inflation rhetoric in moves set to be welcomed by a new pro-business government determined to revive economic growth.
HONG KONG, June 3- Hong Kong shares reached their highest close in five months, lifted by Chinese manufacturing surveys which reinforced hopes that China's economy may be improving after a few rough months. Agricultural Bank of China climbed 3.8 percent, while Industrial and Commercial Bank of China added 2.0 percent.
Banking CEOs received an average pay rise of 10 percent last year as U.S. banks paid their heads more than their European rivals, the FT reports.
*India keeps policy repo rate at 8 pct. MUMBAI, June 3- India's central bank kept its key policy rate on hold on Tuesday, but eased rules to spur bank lending in a move set to be welcomed by the new pro-business government as it seeks to revive economic growth.
SYDNEY, June 3- Australia's central bank kept its cash rate steady for a ninth straight policy meeting on Tuesday, a day before the economy's latest report card is expected to show the fastest pace of growth in almost two years.
SHANGHAI, June 3- China's yuan firmed marginally against the dollar on Tuesday despite the central bank setting a weaker mid-point, as major banks sold dollars as China's markets reopened after a holiday on Monday.
BERNE, June 2- Credit Suisse has lost a limited amount of business as a result of pleading guilty to charges that it helped wealthy Americans to evade taxes, the head of its private bank said on Monday.
NEW YORK, June 2- The U.S. dollar rose on Monday, aided by subdued German inflation figures and slower-than-expected manufacturing growth in the euro zone, both of which piled pressure on the European Central Bank to aggressively ease monetary policy this week.
LONDON, June 2- The European Central Bank has been given the lead role in work to strengthen codes of conduct for currency markets, expected to be one of the main areas highlighted in a report from global regulators due within weeks.
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