Argentine banks are expected to offer to buy debt owned by holdout investors suing country in a bid to avert default, a banking executive said.» Read More
LONDON, July 30- Miscreant bankers face having their bonuses clawed back for up to seven years after their award under measures set out on Wednesday by the Bank of England, as it tightens its regulatory clampdown on wrongdoing in the financial sector.
WASHINGTON, July 30- The U.S. House of Representatives Financial Services Committee narrowly approved a bill on Wednesday that would require the Federal Reserve to set a specific rule to follow when implementing monetary policy. Even if it were approved by the Republican-led House, there is no sign the Democrat-controlled Senate would take it up.
BUENOS AIRES, July 30- A consortium of Argentine banks is set to offer to buy out the country's debt held by holdout investors suing Argentina, in an eleventh-hour deal aimed at averting a default, a senior banking executive familiar with the offer told Reuters on Wednesday.
*UK Bank Rate seen at 1.25 pct end-2015, 2.25 pct end-2016. LONDON, July 30- It could be as soon as next week that the first member of the Bank of England's Monetary Policy Committee votes to increase interest rates but it will be early 2015 before a majority agrees, a Reuters poll found on Wednesday.
July 30- Banks are likely to take up three-quarters of the 400 billion euros of cheap loans on offer from the European Central Bank in coming months, a Reuters poll found, although few expect an ensuing surge in bank lending to companies any time soon. We are less convinced, "wrote Paul Mortimer-Lee, global head of market economics at BNP Paribas.
*Mobile money faces obstacles to growth outside Kenya,. DAKAR, July 30- IT technician Mansour Diagne is one of the lucky few in Senegal to have a bank account, but when he needs to pay some bills or transfer cash to his sisters on the other side of the crowded capital Dakar, he reaches for his mobile phone.
ARGENTINE BANKS TO OFFER TO BUY DEBT OWNED BY HOLDOUT INVESTORS SUING COUNTRY IN BID TO AVERT DEFAULT- BANKING EXECUTIVE.
LONDON, July 30- Britain's Serious Fraud Office is examining material that might trigger a criminal investigation into former and current staff at Lloyds Banking Group, the partly state-owned bank, sources said on Wednesday. The SFO simply said it worked closely with UK and overseas agencies.
DUBLIN— Ireland's second-largest bank, Allied Irish Banks, has returned to profit for the first time since a 2008 property crash pushed the nation to the brink of bankruptcy. Ireland pumped 20 billion euros into Allied Irish to keep it afloat from 2009 onward, eventually acquiring 99.8 percent of its shares.
*VTB says ready to borrow in other currencies, markets. MOSCOW, July 30- VTB, Russia's second-largest bank by assets, said it is ready to borrow in other currencies and markets after sanctions imposed by the United States thwarted its ability to access dollar financing, a move it called "politically motivated" and "unjust".
July 30- Mortgage servicers in the United States are evolving into the next big lenders, sidestepping regulatory scrutiny to win business in a gap left by the retreat of big banks from the home-loan market.
MOSCOW, July 30- The Russian Central Bank said on Wednesday it was ready to provide banks hit by Western sanctions with liquidity through existing instruments if they face additional risks.
*European shares slip as Total hurt by Russia. LONDON, July 30- The euro hit an eight-month trough against the dollar on Wednesday and German bond yields were near record lows ahead of inflation data expected to boost the case for further policy easing by the European Central Bank.
RUSSIA'S CENTRAL BANK SAYS BANKS HIT BY WESTERN SANCTIONS CAN COPE WITH ANY PROBLEMS, HAVE SUFFICIENT CAPITAL.
RUSSIA'S CENTRAL BANK SAYS WILL PROVIDE BANKS WITH LIQUIDITY THROUGH EXISTING INSTRUMENTS IF ADDITIONAL RISKS EMERGE DUE TO WESTERN SANCTIONS.
FRANKFURT, July 30- Euro zone banks have loosened their lending terms for businesses for the first time since the start of the financial crisis, the European Central Bank said on Wednesday, reducing one of the chief obstacles to an economic rebound.
MOSCOW, July 30- Russia's second-largest bank, VTB, said on Wednesday it was ready to borrow on financial markets outside the European Union and United States after it was included in new Western sanctions over the Ukraine crisis.
LONDON, July 30- Bankers who break rules on their conduct may have to hand back bonuses up to seven years after being awarded them, the Bank of England said on Wednesday as it unveiled some of the world's toughest curbs on the sector.
MOSCOW, July 30- VTB, Russia's second-largest bank by assets, called sanctions imposed by the United States "politically motivated" and "unjust" on Wednesday but said it was confident it could raise capital if needed.
TIRANA, Albania— Albania's central bank says 713 million leke has been stolen from its reserve storage building. Authorities arrested two bank employees last week. The Bank of Albania, which is in charge of the country's price stability and manages 16 private banks, said Wednesday that the cash was stolen over time.
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