Keith Pogson, Senior Partner, Asia Pacific Financial Services at EY, outlines the hurdles ahead for major banks in complying with the new rules, which could cost them millions.» Read More
DUBAI, Aug 27- Iran's new central bank governor, Valiollah Seif, took office on Tuesday amid expectations he may hike rates in an effort pull down rampant inflation and attract more money into bank deposits.
Henry M. Paulson Jr. on bonuses during the 2008 financial crisis: “There was such a total lack of awareness from the firms that paid big bonuses during this extraordinary time.”
Beat Wittmann, CEO of TCMG Asset Management, explains that the euro zone banks' valuations are bottoming out and have significant upside and selects his top picks.
The warning by China's Vice Finance Minister Zhu Guangyao and central bank Vice Governor Yi Gang came as economies from Brazil to Indonesia struggle to cope with capital flight as U.S. interest rates rise ahead of an expected tapering off in the Federal Reserve's bond buying programme that unleashed liquidity across the world.
*U.S. durables fall 7.3 percent in July, pressure dollar. NEW YORK, Aug 26- The dollar edged higher on Monday, recouping losses against the euro as dismal data on U.S. durable goods orders did little to change expectations that the Federal Reserve will wind down its stimulus program next month.
Aug 26- A JPMorgan Chase& Co lawyer responsible for litigation and government investigations is leaving the lawsuit-laden bank.
A top litigation lawyer for JPMorgan Chase is leaving the bank as it faces mounting regulatory headaches, lawsuits and investigations, sources tell The Wall Street Journal.
Closely watched financial analyst Dick Bove cut his rating on JPMorgan Chase on Monday, citing an atmosphere of regulatory "McCarthyism" surrounding the company.
DUBAI, Aug 26- A consortium of central banks from Asia, the Middle East and Africa has taken a first step towards developing a cross-border market in Islamic financial instruments by issuing a $490 million sukuk. The three-month Islamic bonds, denominated in U.S. dollars, were issued by the Malaysia- based International Islamic Liquidity Management Corp.
*Positive data expected from Japan and China. LONDON, Aug 25- More bricks in the global recovery wall are likely to slot into place in a week that could also yield more clues as to when the Federal Reserve will start unwinding its exceptional monetary stimulus.
*Risk of crisis takes center stage at Jackson Hole. When the Federal Reserve was ramping up its asset purchases to support a flagging U.S. economy, many officials overseas criticized the United States for putting undue upward pressure on their currencies.
LONDON, Aug 25- Leaders of the world's top economies meet on Sept. 5-6 to endorse the final piece of their financial crisis regulatory reforms: rules for the $60 trillion "shadow banking" sector. *Money market funds: The United States has already proposed tighter rules to avoid repeat of "runs" seen in the financial crisis.
*G20 to endorse shadow banking package Sept 5-6. LONDON, Aug 25- World leaders are expected to take a softly-softly approach to regulating the so-called shadow banking sector when they meet in Russia next month to avoid damaging the flow of finance to the global economy.
JACKSON HOLE, Wyo., Aug 24- Global financial stability is at risk as central banks draw back from ultra-easy policies that have flooded the world with cash, because emerging markets lack defenses to prevent potentially huge capital outflows, top officials were warned on Saturday.
JACKSON HOLE, Wyo., Aug 24- Central banks should coordinate to avoid unwanted side effects as they exit from ultra-easy monetary policies that have left the world awash in cheap money, top policymakers were told on Saturday.
Central banks in Europe, the United States and Japan have no need to rush to exit the ultra-easy monetary policies they have put in place to spur growth, IMF Managing Director Christine Lagarde said.
JACKSON HOLE, Wyo., Aug 23- Central banks in Europe, the United States and Japan have no need to rush to exit the ultra-easy monetary policies they have put in place to spur growth, IMF Managing Director Christine Lagarde said on Friday.
JACKSON HOLE, Wyo., Aug 23- Central banks in rich countries cannot ignore the international effects of their policies, and conducting monetary policy in a vacuum could spark another financial crisis, Mexico Central Bank Governor Agustin Carstens said on Friday.
CNBC's Scott Cohn and Kayla Tausche discuss the Commodity Futures Trading Commission's possible moves in the wake of the Nasdaq shutdown.
*Gap between 2- year US/ Japan bond yield at 1-1/ 2- year high. NEW YORK, Aug 23- The dollar fell against a basket of currencies on Friday, falling from a three-week peak against the yen, as a steep drop in U.S. new home sales raised doubts that the Federal Reserve will actually reduce its asset-buying program next month.