Two of Japan's largest banks have stepped back from Russia in recent weeks, bankers and executives told the Financial Times.» Read More
The stress tests will provide clarity about the European banking environment and thus help the region's recovery says Lars Machenil, CFO at BNP Paribas.
*Q4 earnings fall 76 pct to 127 mln euros. PARIS, Feb 13- BNP Paribas, France's biggest listed bank, reported a 76 percent drop in quarterly profit on Thursday after booking a $1.1 billion litigation provision in case it faces fines for breach of U.S. sanctions. Credit Suisse and Deutsche Bank have both also announced hefty legal charges recently.
LONDON, Feb 13- State-backed Lloyds Banking Group paid 395 million pounds in bonuses last year, up 8 percent on the year before as it returned to profit for the first time since it was rescued by British taxpayers six years ago. Lloyds has more retail banking customers than any other bank in Britain, but needed a 20 billion pound bailout in the financial crisis.
French lender BNP Paribas reported net profit for 2013 that missed market expectations with two different charges for the bank hitting its figures for the year.
*No sign of heavy USD sales despite strong trade data. *Hot money inflows may have distorted trade data. SHANGHAI, Feb 13- China's yuan edged lower against the dollar on Thursday as traders reported lower-than-expected corporate dollar sales despite data showing an unexpectedly large trade surplus in January.
SEOUL, Feb 13- South Korea's central bank stood pat for a ninth straight month on Thursday, as expected, and a firming economic recovery supported the consensus market view that the bank would begin raising interest rates later this year.
SYDNEY, Feb 13- The euro nursed losses early on Thursday, having suffered a setback on dovish comments from a top European Central Bank official, while a surprisingly upbeat economic outlook from the Bank of England gave sterling a shot in the arm. The euro slipped to $1.3595 and 139.35 yen, pulling further away from highs of $1.3684 and 140.31.
The U.S. Senate Banking Committee said on Wednesday that it postponed Thursday's hearing with Federal Reserve Chair Janet Yellen.
Fleming, the head of Morgan Stanley's wealth and investment management businesses, is on the bank board's list of candidates who could potentially succeed Chief Executive James Gorman, according to sources with direct knowledge of the situation. But colleagues and recruiters say he is also a flight risk for Morgan Stanley.
WASHINGTON, Feb 12- The U.S. Senate Banking Committee said on Wednesday that it postponed Thursday's hearing with Federal Reserve Chair Janet Yellen. The Washington area is expecting a significant snowstorm that could conflict with Yellen's testimony.
"When a bank is truly failing we have to let it fail," says Former Wells Fargo CEO Dick Kovacevich, with Anat Admati, Stanford University professor of finance and economics, discussing the banking system and "too big to fail" banks. Admati warns banks are still a risk
New York's financial regulator said the explosive growth of non-bank mortgage servicers is a "troubling trend" that must be confronted.
NEW YORK, Feb 12- New York's financial regulator on Wednesday said the explosive growth of non-bank mortgage servicers is a "troubling trend" that must be confronted "before more homeowners get hurt."
Feb 12- Shares of Talmer Bancorp Inc, backed by billionaire investor Wilbur Ross, rose as much as 7 percent in their market debut, valuing the U.S. bank holding company at about $971 million. Talmer's initial public offering raised about $203 million after its Class A shares were priced at $13 per share, near the lower end of its $12.50- $14.50 expected range.
*FTSEurofirst 300 and Euro STOXX 50 up 1 pct. PARIS, Feb 12- European stocks climbed on Wednesday, extending their brisk week-long rally, with banking stocks leading the gainers after robust results and on hopes of rising dividends in the sector. The euro zone's blue-chip Euro STOXX 50 index was up 1 percent at 3,108.24 points.
Calling too-big-to-fail banks "the most critical issue facing our financial system," a top Federal Reserve official urged new laws to address the problem.
Thomas Lee, JPMorgan chief U.S. equity strategist, explains why now is a good time to take advantage of the recent pullback in the markets. Companies in the U.S. that have emerging markets exposure trade at nearly the largest discount in ten years, says Lee.
LONDON, Feb 12- Emerging stocks rose 1 percent on Wednesday to three-week highs, lifted by solid Chinese trade data and the new Federal Reserve boss who testified that there were no plans to speed up the pace of stimulus withdrawal. Most stock markets rose, with Moscow and Istanbul up 1 percent.
LONDON, Feb 12- German two-year yields held near 2014 lows on Wednesday as a sale of new bonds offering wafer-thin returns met solid demand from investors who expect the European Central Bank to ease monetary policy further.
Thomas Lee, Chief U.S. Equity Strategist at JPMorgan, says stocks are now in a position to run higher. Investors should be owning stocks right now, says Lee. I am still very optimistic this is going to be a double-digit year for the S&P, says Lee.
Get the best of CNBC in your inbox