The Fed should "explicitly" say it will keep rates near zero until the economy is within a year of reaching Fed goals, a policymaker said.» Read More
LONDON, Jan 29- One in three senior bank executives believes their institution has poor anti-money laundering controls at a time when the threat of vast regulatory fines and criminal prosecutions is increasing, according to a KPMG survey.
NEW YORK, Jan 29 (Reuters)- A federal appeals court upheld the dismissal of a lawsuit by former American International Group Inc Chief Executive Maurice "Hank" Greenberg accusing the Federal Reserve Bank of New York of unlawfully bailing out the insurer at the height of the 2008 financial crisis.
NEW YORK, Jan 29- A federal appeals court has upheld the dismissal of former American International Group Inc Chief Executive Maurice "Hank" Greenberg's lawsuit accusing the Federal Reserve Bank of New York of unlawfully bailing out the insurer at the height of the 2008 financial crisis.
SAO PAULO/ SANTIAGO, Jan 29- Brazil's Itaú Unibanco Holding SA, Latin America's largest bank by market value, took a key step in its overseas expansion plan on Wednesday with a deal to take control of Chilean lender CorpBanca SA.
*Barclays dismisses reports it will unveil significant reduction. LONDON, Jan 29- Barclays will close bank branches in Britain "over time" due to changes in technology and customer behaviour, but has no plans for significant closures or a target for how much of its network will shut, it said on Wednesday.
LONDON, Jan 29- Gold turned higher on Wednesday as stock markets surrendered gains ahead of a policy statement from the Federal Reserve, with traders awaiting news on whether the U.S. central bank will further trim its bond-buying programme. Spot gold was up 0.4 percent at $1,261.80 an ounce at 1316 GMT, off an early low of $1,249.04.
With the exception of Wall Street's biggest banks, the financial sector appears to be getting ready to add workers to payrolls.
*Stocks, Lira, Rand falter as Turkey rate hike relief falters. LONDON, Jan 29- Turkey's lira and other emerging market currencies were back under pressure on Wednesday as expectations the Federal Reserve will press on with stimulus cuts later in the day reheated doubts over developing markets' appeal for investors.
FRANKFURT, Jan 29- The reputational risks surrounding Deutsche Bank have grown and it still has some way to go to win back public trust and prove it can overhaul its corporate culture, the bank's two chief executives said on Wednesday.
The European Commission has outlined plans to crack down on banks' risky trading activities in an effort to put an end to lenders deemed "too big to fail."
*Germany and France oppose any break up of big groups. BRUSSELS, Jan 29- Europe unveiled a blueprint to isolate some risky trading at big banks on Wednesday, which critics dismissed as a limp challenge to their dominance. On Wednesday, the European Commission outlined its proposals for a new law to reform the way big banks take risks when trading.
LONDON, Jan 29- Barclays is planning to shut 400 UK branches, or a quarter of its network, as part of the bank's plan to cut costs, the Financial Times said on Wednesday. Barclays and other UK banks such as Lloyds and RBS are expected to pare their branch networks as customers increasingly use internet and mobile platforms and lenders try to raise profitability.
DUBAI, Jan 29- Dubai Islamic Bank, the largest sharia-compliant lender in the emirate, posted a 66.2 percent jump in fourth-quarter net profit, according to Reuters calculations, on the back of lower financing costs and impairment charges.
Dirk Becker, deputy head of German research at Kepler Cheuvreux, says Deutsche Bank is "managing alright" considering all it has to do and says it can make 2014 "the last bad year."
Reint Gropp, professor and Dekabank endowed chair of sustainable banking and finance at the House of Finance at Goethe University Frankfurt, says the ECB's asset quality review could reveal "secrets" in the German banking sector.
China's move to prevent an investment product's default may spur concerns over shadow-banking reform, but some analysts say the moment just wasn't right.
*Turkey's main interest rates all hiked in surprise move. *PM Erdogan had been opposed to a rate increase. ISTANBUL, Jan 29- Turkey's central bank hiked all of its key interest rates in dramatic fashion at an emergency midnight policy meeting, ignoring opposition from Prime Minister Tayyip Erdogan as it battles to defend the country's crumbling lira currency.
*Turkey raises interest rates 425 bps to 12 pct, boosts lira. Turkey followed India by tightening policy at a midnight meeting of its central bank, with the stunning hike in the overnight lending rate of 425 basis points taking rates all the way to 12 percent.
ISTANBUL, Jan 29- Turkey's central bank hiked all of its main interest rates in dramatic fashion at an emergency policy meeting, ignoring opposition from Prime Minister Tayyip Erdogan as it battles to defend a crumbling lira.
TURKISH LIRA STRENGTHENS TO 2.20 FROM 2.2530 AFTER TURKEY'S CENTRAL BANK RAISED BENCHMARK INTEREST RATE TO 12 PCT FROM 7.75 PCT AFTER EMERGENCY MEETING.
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