Frederic Neumann, MD & Co-Head of Asian Economics Research at HSBC, says mainland banks have "very profitable lending operations" that will insulate them from the impact of a rate cut.» Read More
The big danger for Europe's banks in the second half of the year remains over-regulation, says Chris Tinker, founder of Libra Investment Services.
LONDON, July 4- Banks in the European Union should refrain from offering customer accounts in virtual currencies like bitcoins until regulatory safeguards are in place, the bloc's banking watchdog said on Friday. The EU's executive European Commission responded by saying it was imperative to look quickly at possible regulation.
Erste dropped by 14 percent after the bank, which is the third-biggest lender in emerging Europe, warned that fresh hits from Romania and Hungary would drive it to a record 2014 loss.
*Bank cites higher risk provisions in Romania, Hungary. VIENNA, July 4- Investors wiped more than 1 billion euros off Erste Group Bank's stock market value on Friday after emerging Europe's third-biggest lender warned it would post a record loss due to fresh hits from Romania and Hungary.
Funding Circle and other alternative finance companies have differing criteria when lending, said Samir Desai, CEO of Funding Circle.
SOFIA, July 4- One worker at Bulgaria's Corporate Commercial Bank knew panic was setting in when she spotted colleagues among the anxious depositors lined up to withdraw cash from the troubled bank. Within days, the Central Bank had seized control of the bank, the fourth-biggest lender in Bulgaria, and suspended its operations for three months.
EUROPEAN BANKING AUTHORITY ADVISES BANKS IN EU NOT TO BUY, HOLD OR SELL VIRTUAL CURRENCIES LIKE BITCOIN UNTIL NEW RULES IN PLACE.
LONDON, July 4- Banks in the European Union should stop offering customer accounts in virtual currencies like bitcoins until regulatory safeguards are in place, the bloc's banking watchdog said on Friday. Virtual currencies, which unlike conventional money are not backed by a central bank or government, have come under scrutiny after Tokyo- based exchange Mt.
Barclays, trying to restore its reputation after a series of scandals, has created a Compliance Career Academy to improve staff training.
SHANGHAI, July 4- China's yuan strengthened against the dollar on Friday as heavy corporate dollar sales offset a weaker central bank midpoint, traders said. To dampen speculation that the yuan may resume its appreciation, the People's Bank of China set its official midpoint weaker for the third day on Friday, at 6.1642, down 0.10 percent from Thursday.
Piyush Gupta, CEO of DBS, says a slow consumption demand and weak first quarter growth indicate that the macro prospects of the U.S. economy isn't as positive as market expectations.
Jeffrey Halley, Senior Manager, FX Trading at Saxo Capital Markets, discusses the details announced by the central bank regarding its long-term refinancing operations (LTROs).
WASHINGTON, July 3- The U.S. Export-Import Bank is considering financing a massive coal-fired power plant in India despite the fact the Obama administration has called on domestic and global public lenders to stop funding coal-plants in his climate change strategy.
WASHINGTON, July 3- President Barack Obama's recent comments on the need for more bank regulation were intended to underscore the need to keep close watch over market risks rather than to signal a new policy initiative, a White House spokesman said on Thursday.
SunTrust will pay as much as $320 million to resolve a criminal probe into its mortgage unit's mismanagement of a federal program.
A timeline of events from 1886 leading to the Dow's 17,000 historic high on July 3, 2014.
Kai Ryssdal, APM's Marketplace host, discusses his interview with President Obama about the state of bank reform.
SAN FRANCISCO, July 3- The evolving debate at the Federal Reserve over the best approach to financial stability crosses the usual policymaker divide, with some hawks skeptical of raising interest rates to fight bubbles, and some doves warming to the idea.
PARIS, July 3- Euro zone finance ministers will discuss on Monday ways to bolster the use of the euro in international trade in the aftermath of BNP's record U.S. fine, France's finance minister said, adding that other banks could face the same fate as BNP.
*June measures expected to lift inflation, support lending. *ECB prepared to countenance QE if necessary. FRANKFURT, July 3- A raft of policy measures introduced last month will help lift inflation and support bank lending but the European Central Bank stands ready to create money in future if required, President Mario Draghi said on Thursday.