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  • NEW YORK, March 26- The New York Federal Reserve officials tasked with prying interest rates off the floor have been meeting with bankers and traders to plot how best to do it, amid deep uncertainty over how much control they will really have over short-term lending markets. With the U.S. central bank expected to raise rates later this year, Simon Potter and his team...

  • BRASILIA, March 26- Brazil's central bank signaled on Thursday it will continue to raise interest rates as it expects inflation to remain too high next year despite a contracting economy. "Although we have seen some progress in the stabilization of inflation expectations for 2016, we still don't consider that to be enough," central bank director Luiz Awazu...

  • MADRID/ MILAN March 26- The euro zone credit cycle is a whisker away from turning positive but don't expect a rapid recovery. Bank lending to the private sector fell 0.1 percent in February, data from the European Central Bank showed on Thursday, dashing expectations for an increase but inching ever closer to positive growth after nearly three years of...

  • GENEVA, March 26- The United States is concerned about China's restrictions on the use of foreign information technology equipment by the banking sector, the United States said in a filing published by the World Trade Organization on Thursday. U.S. business groups have already complained about the regulations, and senior officials, including Secretary of...

  • DETROIT, March 26- The Federal Reserve should remain on track to raise interest rates later this year despite the U.S. economy's weak start to the year and a stock market sell-off this week, two Fed officials said on Thursday. In separate events in Frankfurt and Detroit, St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart said U.S....

  • ROME, March 26- Bond-buying by the European Central Bank will reinforce the euro zone's economic recovery, its president, Mario Draghi, said on Thursday, adding that there was already evidence that the scheme was taking effect. Draghi told lawmakers in Italy's parliament that recent data releases "are comforting about the contribution that monetary policy is...

  • Pressure rises on Greece as savers drain bank deposits Thursday, 26 Mar 2015 | 11:25 AM ET

    The central bank of Greece said Thursday that private and business deposits dropped to 140.5 billion euros by the end of February. Some feared the clash could push Greece to bankruptcy and even cause it to fall out of the euro, a move that would devastate the country's financial system in the short term. Greece has its back against a wall as it badly needs money— it...

  • March 26- The chief financial officer of Russia's Sberbank told a conference call:. *Doesn't promise record dividends on 2014 and 2015 results. *Bank has option to convert sub debt from c.bank to Tier 1 capital, boosting T1 capital ratio by around 1.2 percent.

  • DUBAI, March 26- Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009 to cover a record state budget deficit caused by the plunge in oil prices, data from the Saudi central bank indicated on Thursday. It was the first year-on-year drop since February 2010, when Saudi Arabia was affected by the global financial crisis.

  • VIENNA, March 26- The European Central Bank has asked euro zone lenders to detail their exposure to Austria and provisions they plan to make after the country halted debt repayments by a "bad bank" winding down defunct lender Hypo Alpe Adria, financial sources told Reuters. Austria- which like Germany and Britain has already adopted ahead of schedule the new...

  • EU signals further divergence from global banking rules Thursday, 26 Mar 2015 | 8:23 AM ET

    LONDON, March 26- The European Union will continue to diverge from global banking regulations where necessary to avoid overburdening smaller lenders, the bloc's financial services chief said on Thursday. Hill said he would "differentiate" from other Basel rules, too, in an effort to ensure that EU legislation is proportionate and takes into account different...

  • *ICBC, AgBank, BoC, BoCom book 4 Q rise in bad loans. SHANGHAI/ HONG KONG, March 26- Chinese banks are increasingly drawing on Western ways of selling off bad loans, after four of the largest five lenders reported a spike in defaults in an economy stuttering at its slowest growth rate in 25 years. The practice, though common in the West, was mostly unheard of in China just a...

  • MOSCOW, March 26- Russia will give sanctions-hit Rosselkhozbank 10 billion roubles of additional capital as part of the country's anti-crisis plan, Prime Minister Dmitry Medvedev said on Thursday. "Our banks' access to overseas markets of liquidity is essentially closed and our task is to minimise the influence of these problems on the banking system,"...

  • JERUSALEM, March 26- The Bank of Israel is studying expansionary steps taken by other central banks such as quantitative easing and will implement similar measures if needed, its governor said in an interview with the magazine of Israel's banking association. The Bank of Israel on Monday held its benchmark interest rate at 0.1 percent, citing a weaker shekel...

  • FRANKFURT, March 26- Now may be a good time to start normalising U.S. monetary policy, Federal Reserve policymaker James Bullard said on Thursday. In the text of comments delivered to an audience in Frankfurt, St. Louis Fed President Bullard said doing that would direct policy "so that it is set appropriately for an improving economy over the next two years."

  • HONG KONG/ SHANGHAI, March 26- Industrial and Commercial Bank of China Ltd said on Thursday net profit fell 3 percent in the fourth quarter of 2014, the first time its final quarter profit has fallen since 2008 as China's economic growth slows. In common with the other "big four" lenders- Agricultural Bank of China Ltd, Bank of Communications Co Ltd and China...

  • MOSCOW, March 26- Russia's top lender Sberbank reported on Thursday a 20 percent drop in profit for 2014, hurt by a jump in its funding costs and higher loan-loss provisions as an economic crisis and slide in the rouble weighed. Sberbank is one of several large Russian banks under Western sanctions over the Ukraine crisis, which drive up its cost of financing by...

  • Russia's Sberbank reports 20 pct drop in 2014 profit Thursday, 26 Mar 2015 | 4:17 AM ET

    MOSCOW, March 26- Russia's top lender Sberbank reported on Thursday a 20 percent drop in net profit for 2014, hurt by a jump in its funding costs and higher loan-loss provisions. The bank said it earned 290.3 billion roubles in 2014, beating analysts' forecasts for net profit of 275.8 billion roubles. Sberbank is one of several large Russian banks under Western...

  • DIARY- Top Economic Events to April 8 Wednesday, 25 Mar 2015 | 8:01 PM ET

    ROME- European Central Bank president Mario Draghi addresses the Italian parliament's finance and EU policy committees- 1200 GMT. LONDON- Bank of England to publish Financial Policy Committee statement- 0930 GMT. FRANKFURT- Federal Reserve Bank of St. Louis President James Bullard gives OMFIF Public Lecture on the economy and monetary policy- 0835 GMT.

  • SAN FRANCISCO, March 25- The former chief operating officer of a major Chinese-American bank in San Francisco was convicted on Wednesday of several criminal counts, including securities fraud, over allegations he concealed deteriorating loans at the height of the 2008 financial crisis. Prosecutors accused former United Commercial Bank executive Ebrahim...

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