CIT Group is buying regional bank OneWest Bank in a $3.4 billion cash-and-stock deal.» Read More
*Godwin Emefiele delivers first MPC decision as governor. ABUJA, July 22- Nigeria's new central bank governor said on Tuesday he favored a gradual reduction in interest rates over the next five years, but inflation risk meant there was no room to ease policy immediately.
*No significant likelihood of another bank deal- CEO John Thain. July 22- U.S. small-business lender CIT Group Inc said it would buy California bank OneWest Bank NA for $3.4 billion in cash and stock, a deal that will give CIT a more reliable source of funding.
*Governor writes letter to parliament. SOFIA, July 22- Bulgaria's Central Bank Governor Ivan Iskrov told parliament on Tuesday he was ready to step down if it can agree on a successor first.
July 22- U.S. small-business lender CIT Group Inc said it would buy regional lender OneWest Bank NA for $3.4 billion in cash and stock, its second deal in two months to boost its middle-market lending operations.
NEW YORK— CIT Group will buy privately owned OneWest Bank in a $3.4 billion cash-and-stock deal. IMB shareholders will receive $2 billion in cash and 31.3 million CIT Group shares that are currently valued at $1.4 billion. OneWest will merge with CIT Group's banking subsidiary CIT Bank, and all locations will operate under the CIT Bank sign.
NEW YORK, July 21- There are many reasons to be optimistic about the recent drop in long-term unemployment, Federal Reserve economists said in a paper published on Monday, the latest evidence helping to put to rest a debate that gripped the U.S. central bank earlier in the year.
SAN FRANCISCO, July 21- New college graduates have seen their wages rise more slowly than the rest of the U.S. workforce since the Great Recession, new research from the San Francisco Federal Reserve Bank shows, a trend that reflects continued weakness in the economy.
NEW YORK, July 21- BNP Paribas SA's $9 billion settlement with U.S. authorities, aided by internal whistleblowers, has spurred calls for federal banking regulators to protect and reward individuals who report wrongdoing by banks.
*Gulf banks reducing loan fees, easing terms. *Eager to deploy cash supplies amid high oil prices. DUBAI, July 21- Cash-rich Gulf banks are grabbing a growing share of the region's loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending.
Trading firms raised concerns about traders at Barclays' "dark pool" months before the U.S. accused the bank of favoring its trading clients.
One of the biggest private equity investors in the banking sector has warned that regulation has depressed profitability, the FT reports.
Stephen Roach, Senior Fellow at Yale University, explains why he disagrees with Christopher Flowers who warned that increased regulation is making the banking sector vulnerable to another crisis.
PANAMA CITY, July 18- Panamanian banking supervisors said on Friday they had taken control of ES Bank SA, a small unit of Portugal's Espirito Santo, which is facing intense scrutiny from investors and regulators over revelations of irregularities at related companies.
The Federal Deposit Insurance Corp. said Friday that it has taken over Eastside Commercial Bank, based in Conyers, Georgia. The FDIC says Macon, Georgia- based State Bank and Trust Company will also buy $42.6 million of Eastside Commercial Bank's loans. The failure of Eastside Commercial Bank is expected to cost the deposit insurance fund $33.9 million.
Portugal's Espirito Santo International, holding company of Banco Espirito Santo, said it has filed for creditor protection.
BRASILIA, July 18- The market is getting ahead of itself if it thinks Brazil's central bank could start cutting interest rates again to rescue a weakening economy, a member of the government's economic team told Reuters.
"People are starting to increase inventory to build for a better economy and a better outlook in quarters three and four," Richard Davis, chief executive of U.S. Bancorp, said after the bank reported earnings on Wednesday. U.S. Bancorp reported a 12.4 percent rise in commercial loans by volume for the quarter.
*Angola central bank says BES's Angola unit needs capital increase. LISBON, July 18- Financial problems at Portugal's Espirito Santo business empire spilled further across national borders on Friday, with Angola's central bank saying the local division of Banco Espirito Santo would need a capital increase to deal with bad loans.
LONDON, July 18- The world's top trading houses appear to be quickly turning into commodity finance banks, by lending billions of dollars to clients as a decades-long dominance of French banks shrinks.
LISBON, July 18- Banco Espirito Santo should be able to tap private investors if it needs to boost its defences against losses, Portugal's central bank governor said on Friday, reiterating that the lender had sufficient capital reserves.
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