The U.K. authorities have announced plans to hit misbehaving bankers where it hurts, potentially demanding the repayment of seven-year-old bonuses.» Read More
LONDON/ MILAN, April 9- The European Central Bank has dismissed the latest appeal by the region's biggest lenders for concessions, including easier deadlines, to make rigorous health checks of their industry less logistically onerous, sources told Reuters.
That caused colossal losses for banks and tarnished securitisation, which has yet to recover in Europe with Nomura estimating the market now to be 650- 700 billion euros, half its pre-crisis size.
The U.S. banking industry has almost completely recovered from the global financial crisis, but Europe's banks are lagging, JPM's Jamie Dimon says.
Goldman Sachs Group Inc. is mulling the idea of shutting down its private stock-trading venue, Sigma X, according to the Wall Street Journal.
DUBAI, April 9- The second-in-line to the Saudi Arabian throne has denounced banks in the kingdom, saying they are contributing too little to society compared to what they take, Saudi media reported on Wednesday.
With Ukrainian and Western banks closing, Crimea's 2 million people have been forced to deal with a cash economy since Russia annexed the Black Sea peninsula last month- an illustration of the economic obstacles that might lie ahead for a contested region.
SHANGHAI, April 9- China shares ended at a new 7- week high on Wednesday, as certain tech stocks outperformed but profit-taking in banking shares weighed on index performance. Industrial Bank Co Ltd slid 0.6 percent, while China Minsheng Banking Corp Ltd and Ping An Bank Co Ltd shed 1.1 percent and 0.8 percent, respectively.
Dick Bove, Vice President of Equity Research at Rafferty Capital, describes three negative consequences that may arise after U.S. regulators voted for tougher rules on banks.
NEW YORK, April 8- A lawsuit has been unsealed accusing OneWest Bank FSB, a lender once known as IndyMac Bancorp Inc, of causing the U.S. government to improperly pay out $206 million under a federal program to help struggling homeowners avoid foreclosure.
The eight biggest U.S. banks must boost capital levels by a total of about $68 billion under new rules, U.S. regulators said on Tuesday.
ROCHESTER, Minn./ PHILADELPHIA, April 8- The Federal Reserve needs to be more specific about what economic conditions would prompt it to raise interest rates from current rock-bottom levels, a pair of top Fed officials normally at loggerheads on policy said on Tuesday.
WASHINGTON, April 8- The eight biggest U.S. banks must boost capital levels by a total of about $68 billion under new rules, U.S. regulators said on Tuesday, prompting industry complaints that less-stringent global standards will give overseas competitors an advantage.
CNBC's Kayla Tausche reports on stricter requirements for U.S. banks, including a five percent minimum equity against assets.
WASHINGTON, April 8- The U.S. Federal Reserve voted on Tuesday to adopt tougher leverage requirements for the eight biggest U.S. banks.
US FEDERAL RESERVE JOINS OTHER REGULATORY AGENCIES IN ADOPTING TOUGHER LEVERAGE REQUIREMENTS FOR BIGGEST US BANKS.
ROCHESTER, Minn., April 8- The Federal Reserve should do more to boost both inflation and jobs, a top Fed official said on Tuesday, including possibly pushing its main interest rate even lower or cutting the rate it pays banks on excess reserves kept at the U.S. central bank.
WASHINGTON, April 8- The eight biggest U.S. banks must raise a total of about $68 billion in capital by 2018 to comply with a new rule designed to prevent another financial crisis, prompting industry complaints that international standards are less restrictive and give their global competitors an advantage.
The Fed gave banks two more years to shed risky loans, a move that does nothing to prevent another crisis, bank analyst Dick Bove tells CNBC.
CNBC's Kayla Tausche reports regulators have issued final rules that would increase leverage exposure for 8 of the biggest banks.
RAMALLAH, West Bank, April 8- The Palestinian Authority said on Tuesday it plans to issue bonds to banks as part of a restructuring of its sizeable debts, in what will be the first sale of government bonds in the territory's 20- year history. Jihad Al Wazir, head of the Palestinian Monetary Authority, said around $200 million of debt would be converted to bonds.
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