China's banks this week found themselves turning away would-be depositors as they scrambled to comply with new rules. The Financial Times reports.» Read More
DALLAS, May 19- The Federal Reserve does not need to shrink its $4 trillion- plus balance sheet by even "a dime" for it to normalize monetary policy when the time comes, former Fed Chair Ben Bernanke said on Monday. "The Fed has worked very carefully to figure out how to raise rates at the appropriate time," Bernanke told a monetary policy conference.
Deutsche Bank's plan to raise nearly $11 billion in new capital drew criticism on Wall Street, bedeviling the bank's shares.
LONDON, May 19- Asia- focused bank Standard Chartered has picked an executive from outside banking to be its new finance director, saying former Vodafone finance chief Andy Halford will take up the role in July. Halford could earn up to $6.3 million a year at Standard Chartered, plus other benefits.
*Russia courts cautious Asia, banks with franchises. LONDON, May 19- Most Western banks are shunning Russia's syndicated loan market as a result of the Ukraine crisis and could stay away for a year or more, despite the potential loss of more than $45 billion in business.
Credit Suisse guilty plea with U.S. authorities is likely to be announced after the market close on Monday, two sources said.
Mary Miller, U.S. Treasury Undersecretary, shares her thoughts on regulating asset managers and the three areas they are looking at that may pose risk.
Anshu Jain, co-CEO at Deutsche Bank, says the bank is very "focused" on its U.S. strategy and that it has a targeted plan to narrow the "competitive gap" there.
Deutsche Bank is taking steps to increase its capital reserves to take advantage of the "tectonic plate shift in European banking", Anshu Jain, co-CEO at Deutsche Bank told CNBC.
LONDON, May 19- Europe and Asia dragged world equity markets lower on Monday as concerns about slower growth in China prompted investors to cut their risks. Shanghai shares hit a three-week low as Beijing unveiled new regulations that tighten its grip on interbank lending to defuse risks among "shadow" non-bank financial firms that act like banks.
FRANKFURT, May 19- Deutsche Bank said a decision to seek 8 billion euros in new equity capital was driven by uncertainty about the cost of new regulations and the need for funds to expand its investment banking business. It plans to sell the new shares combined with at least 1.5 billion euros in hybrid debt by June 4.
HONG KONG, May 19- Shanghai shares plunged to a three-week low on Monday as financials and property stocks fell following stiffer regulations on interbank lending and more evidence of cooling in the property market. The CSI300 of the leading Shanghai and Shenzhen A-share listings lost 1.4 percent, reaching its lowest close since March 20.
FRANKFURT, May 19- Deutsche Bank aims to price and issue around 9.5 billion euros in both new equity and hybrid debt by June 4, the lender said on Monday. Germany's largest bank unveiled an 8 billion euro equity capital raising late on Sunday in a move to fortify its regulatory strength measures and put investor doubts to rest.
WASHINGTON, May 19- The two new nominees to the Federal Reserve's Board of Governors are expected to push for an expanded Fed role in managing the U.S. economy, working to replace the current raft of programs that resulted from the financial crisis with more permanent tools. The arrival of former Bank of Israel Governor Stanley Fischer and former U.S.
LONDON, May 18- Bank of England Governor Mark Carney gave his strongest warning to date about the risks of a housing bubble and said policymakers were looking at new measures to control mortgage lending.
NEW YORK, May 18- Interpreting Federal Reserve policy is hard enough, but the central bank may need to dust off its' How to' guide to explain the nuts and bolts of new tools it will use when it finally starts to raise interest rates. But managing that rate was easier when the banking system had about $800 billion in excess cash.
LONDON, May 16- Global plans to prevent taxpayers from having to pay for big bank failures are at risk because banking supervisors in Europe and Asia do not fully support some of the proposals aimed at drawing a line under the 2007-2008 financial crisis.
*Sale comes as Spain is attracting strong investor interest. MADRID, May 16- Spain will relaunch the sale of bailed-out lender Catalunya Banc next week after two failed auctions, sources close to the process said, and may include state support to spare the bank more losses and make it more attractive to investors.
NEW YORK, May 16- Two years ago, Denver- based oil and gas driller Bonanza Creek Energy wanted to spread its credit risk and hedge its production- and it called on some regional Main Street banks to help do it. Ohio- based KeyCorp led the lenders and was also among the banks providing hedging.
HONG KONG, May 16- China's yuan is set to record a small weekly loss against the dollar after posting its strongest week in more than two years last week, as the market awaits clearer signals on direction. The People's Bank of China set the official midpoint at 6.1628, up 0.02 percent from the previous day's 6.1640.
Credit Suisse Group AG is expected to plead guilty and pay more than $2.5 billion to U.S. authorities, sources said.
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