Brazil is freeing up more than $20 billion in its banking system as its economy struggles to escape "stagflation". The FT reports.» Read More
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.
NEW YORK- New York state's top banking regulator, Benjamin Lawsky, is asking BNP Paribas SA to fire some senior executives as part of a settlement of allegations that the French bank violated U.S. sanctions, two sources familiar with the matter say., moved, by Karen Freifeld, 930 words).
*Too early for UK to raise rates but getting closer. *India central banks meets for first time since Modi election. LONDON, June 1- The European Central Bank will eclipse all else in economic terms this week, following heavy hints that monetary policy will be loosened in a variety of ways.
LONDON/ FRANKFURT, June 1- It would be an insider trader's dream to know ahead of time which of Europe's banks will fail or need more capital, and all that data will be stored somewhere in cyberspace as the European Central Bank assesses the euro zone's top banks.
NEW YORK, June 1- New York state's top banking regulator, Benjamin Lawsky, is asking BNP Paribas SA to fire some senior executives as part of a settlement of allegations that the French bank violated U.S. sanctions, two sources familiar with the matter said on Saturday. BNP Paribas and Lawsky's office declined to comment.
PALO ALTO, Calif., May 30- A trio of Federal Reserve officials who disagree deeply with one another over the appropriate stance of monetary policy on Friday expressed a shared distrust for using interest rates to head off asset bubbles and other forms of financial instability.
PALO ALTO, Calif., May 30- The Federal Reserve should not use interest-rate policy to head off risks to financial stability if doing so would unmoor inflation expectations, two Fed officials said on Friday.
The City of Los Angeles has sued JPMorgan Chase, accusing the largest U.S. bank of engaging in discriminatory mortgage lending practices.
PALO ALTO, Calif., May 30- The Federal Reserve should provide more information on the likely future path of interest rates and explain its policy decisions in the context of those forecasts, a top Fed official said on Friday.
May 30- The City of Los Angeles has sued JPMorgan Chase& Co, accusing the largest U.S. bank of engaging in discriminatory mortgage lending practices that drove up foreclosures among minority borrowers.
WASHINGTON, May 30- Low financial market volatility has crept onto the list of concerns weighing on officials at the Federal Reserve. "Volatility in the markets right now is unusually low," New York Federal Reserve Bank President William Dudley said last week.
May 30- The City of Los Angeles sued JPMorgan Chase& Co on Friday, accusing the largest U.S. bank of engaging in discriminatory mortgage lending practices that drove up foreclosures among minority borrowers. Los Angeles in December filed similar lawsuits against Bank of America Corp, Citigroup Inc and Wells Fargo& Co, the next three largest U.S. banks.
The Alpine nation's bankers got a jolt last week after Credit Suisse agreed to plead guilty to helping wealthy Americans evade taxes and pay a fine of $2.6 billion, more than double the amount it had set aside for the purpose.
*UK banks and Moody's welcome plan, one investor skeptical. LONDON/ FRANKFURT, May 30- The European Central Bank and the Bank of England set out proposals on Friday to resurrect the European Union's market for asset-backed securities and help the flow of credit to smaller businesses.
*Fed funds market distorted by huge amount of excess reserves. NEW YORK, May 30- Don't count on the U.S. The Fed has flooded the financial system with $3.4 trillion, and $2.6 trillion of that has ended up back at the Fed as excess bank reserves.
*Negative deposit rate would impose cost on banks. By Paul Carrel and Laura Noonan. FRANKFURT/ LONDON, May 30- The European Central Bank is gearing up to charge banks for depositing with it, something that will require careful maneuvering if it is not to create the opposite result from that intended.
Kian Abouhossein, banking analyst at JP Morgan, says banks just want to preserve capital so any action by the ECB next week will not lead to additional lending
MUMBAI, May 30- Hailed as a troubleshooting "James Bond" of central bankers amid India's currency crisis last year, Raghuram Rajan was given a licence to kill inflation with higher interest rates and drive a programme of monetary policy reforms.
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