What is the DOJ planning to do with the money its getting from Bank of America's settlement? Tom Fitton, Judicial Watch President, says some of the money is going to liberal activist groups.» Read More
SOFIA, July 11- Bulgaria will strip Corporate Commercial Bank of its license and alert prosecutors to possible malpractice at the lender, the central bank said.
Portugal's bank woes raise concerns of another EU crisis, reports CNBC's Steve Sedgwick.
Portugal's banking sector has gone through a transformative intervention, making its risk to Europe's banking system small, Antonio Roldan Mones, Portugal analyst at Eurasia Group.
SOFIA, July 11- Bulgaria will strip Corporate Commercial Bank of its license, transfer its good assets and liabilities to a unit of the lender and alert prosecutors to possible malpractice at Corpbank, the central bank said.
LONDON, July 11- The Bank of England said on Friday that big British banks and lenders might need to set aside more capital than planned under global rules being drawn up to prevent a repeat of the financial crisis. Such a supplement would effectively cover the bulk of Britain's banks.
Alberto Gallo, head of European macro credit research at RBS, says Banco Espirito Santo has capital problems not solvency issues.
Pedro Santana Lopes, former Portuguese Prime Minister, says Banco Espirito Santo has a "good solvency situation" but the family behind the lender has questions to answer.
Pedro Santana Lopes, former Portuguese Prime Minister, says the government will not pay for Banco Espirito Santo.
Otto Dichtl, managing director at Stifel Nicolaus, says there are "question marks" around the amount of capital Banco Espirito Santo has, but the lender is unlikely to default.
Edward Hugh, an independent economist, says the euro zone debt crisis has not returned but the issues in Portugal are a "warning shot" that it might be back soon.
John Hourican, CEO of the Bank of Cyprus, says he hopes the lender is "not in the news" for failing the forthcoming asset quality review.
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.
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