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  • TOKYO, March 31- Citigroup Inc has agreed to sell its credit card unit in Japan to Sumitomo Mitsui Trust Bank, the companies said on Tuesday, as the U.S. bank slims down globally to bolster its profitability. The transaction is expected to close by the end of the year, Citigroup and Sumitomo Mitsui Trust Holdings Inc said in separate statements.

  • BEIJING, March 31- China is set to start a maiden insurance system for bank deposits from May, two sources with knowledge of the matter said on Tuesday, a development considered by many analysts to be a crucial financial reform. The insurance system and a fund that banks will have to pay into to finance the protection of depositors will be managed by the central bank,...

  • SHANGHAI, March 31- As stock market investors cheer Beijing's latest bid to boost the country's ailing housing sector, Chinese bankers are gritting their teeth over the risks they face in further relaxing lending rules to home buyers. The hope is that by allowing buyers to get mortgages more easily, China can revive the housing market, which accounts for 15...

  • TOKYO— Japan is not planning to join the China-led Asian Infrastructure Investment Bank, its government spokesman said Tuesday, while Taiwan announced it would apply for membership, joining dozens of countries in signing up to an initiative opposed by Washington. "As of today, Japan will not join AIIB and a clear explanation has not been received from China," Suga...

  • BEIJING, March 30- China has agreed to delay implementing new bank technology restrictions that Washington has complained represent unfair regulatory pressure on foreign firms, a senior U.S. Treasury official said in Beijing on Monday. BSA The Software Alliance, whose members include Adobe Systems, Apple Inc, IBM, Microsoft Corp and Oracle Corp, and the...

  • Treasury Secretary Jacob Lew pressed Chinese leaders to suspend proposed curbs on foreign security technology and said a Beijing- led regional bank should work in partnership with existing institutions. The United States and Europe say Beijing is improperly blocking market access with the curbs in proposed anti-terrorism and banking security measures.

  • March 30- Canadian financial technology firm D+ H said on Monday it agreed to acquire global payment services provider Fundtech for $1.25 billion in cash, in a bid to expand its service offerings aimed at global financial institutions and large U.S. banks. The deal comes nearly two years after it acquired U.S. rival Harland Financial Solutions for about $1.2...

  • BEIJING, March 30- China has agreed to delay implementing new bank technology restrictions that Washington has complained represent unfair regulatory pressure on foreign firms, a senior U.S. Treasury official said in Beijing on Monday. BSA The Software Alliance, whose members include Adobe Systems, Apple Inc, IBM, Microsoft Corp and Oracle Corp, and the...

  • WASHINGTON— The University of Michigan, defense contractor Lockheed Martin Corp. and a foundation helping Appalachian children all own stakes in an overseas investment fund backing two major Chinese companies, which recently froze their stocks and missed financial reporting deadlines. The American organizations invested in the $1.4 billion fund—...

  • March 30- Ben Bernanke launched a blog on Monday, giving the former Federal Reserve chairman a new pulpit from which to make an old argument: why interest rates need to be so low. Bernanke, who handed the reins of the U.S. central bank to Janet Yellen last year, has been hitting the conference circuit more in recent months ahead of the planned publication of his book...

  • BEIJING, March 30- China has agreed to delay implementing new bank technology restrictions that Washington has complained represent unfair regulatory pressure on foreign firms, a senior U.S. China said this month work was ongoing on a draft anti-terrorism law that would require foreign companies to hand over encryption keys and otherwise facilitate...

  • SEC accuses financier Lynn Tilton of fraud Monday, 30 Mar 2015 | 10:19 AM ET
    Lynn Tilton

    U.S. regulators took aim at financier Lynn Tilton and her advisory business on Monday, saying she defrauded investors.

  • WASHINGTON, March 30- The U.S. Supreme Court on Monday left intact a ruling that prevents plaintiffs from suing banks that they say aided and abetted convicted fraudster Bernie Madoff. The high court declined to hear two separate appeals filed by investors in foreign investment vehicles that lost money when Madoff's the Ponzi scheme collapsed in 2008. They...

  • SHANGHAI/ BEIJING, March 30- China on Monday courted home buyers with a bigger tax break as it cut downpayment requirements for the second time in six months, stepping up a fight against sliding house prices that is imperiling the world's second-biggest economy. The People's Bank of China said on its website that commercial banks can now lower their minimum...

  • *Test puts HSBC, Standard Chartered in the spotlight. "By assessing the resilience of the UK banking system against a major external shock we will improve further our ability to identify vulnerabilities and we will ensure that banks have plans in place to address a wider range of possible stresses," BoE Governor Mark Carney said on Monday. That leaves six banks and...

  • TORONTO, March 30- The head of the Bank of Canada said a slump in oil prices is having an "atrocious" effect on the Canadian economy but a cheaper currency and incipient U.S. revival should help exports drive a recovery, the Financial Times reported on Monday. Governor Stephen Poloz said in an interview with the newspaper that the central bank still had many options...

  • SHANGHAI/ BEIJING, March 30- Chinese regulators eased lending and tax policies on real estate on Monday, as Beijing seeks to stop a slide in property prices that has put economic recovery at risk. The People's Bank of China, in a statement on its website, urged financial institutions to support home purchases using a combination of commercial lending and a housing...

  • LONDON, March 30- Gold fell one percent on Monday, down for a second straight session as the dollar climbed on increasing prospects that the Federal Reserve may start raising interest rates gradually this year. "It seems the market is once again focusing on the Fed raising rates," Deutsche Boerse's MNI senior analyst Tony Walters said. Gold, which does not pay any...

  • WASHINGTON— Ben Bernanke no longer leads the Federal Reserve, but he's hardly letting up in his defense of the ultra-low-rate policies he engineered— and his successor, Janet Yellen, has continued. Both criticisms, Bernanke wrote in " Ben Bernanke's Blog," reflect a misunderstanding of economic reality. After eight years as chairman, Bernanke stepped down from the...

  • PBOC: Investors looking for more stimulus   Monday, 30 Mar 2015 | 4:50 AM ET
    PBOC: Investors looking for more stimulus

    Josh Klaczek, head of Asia financials research at JPMorgan, talks about Asian stocks and the banking sector -- in particular China and the People's Bank of China.

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