JPMorgan Chase has a $22 billion capital hole under new rules proposed by the Federal Reserve on Tuesday, a blow to a bank. The Financial Times reports.» Read More
"If people think this is just to raise the flag, it's not going to last long," said Christopher Flensborg, Head of Sustainable Products and Product Development for Skandinaviska Enskilda Banken AB, the Swedish bank that's the world's largest underwriter of green bonds. Green bonds used to come exclusively from AAA-rated organizations like the World Bank; the...
LONDON, Nov 17- London's benchmark foreign exchange "fixings" will move to a five-minute calculation window, from one minute currently, as of 2200 GMT on Sunday, Dec. 14, the WM Company said in a memo sent to banks on Monday. The move by WM, a unit of State Street Corp, follows the levying of the first fines on banks in a row over alleged manipulation of foreign exchange...
With some 40 percent of the $5.3 trillion a day global market in currencies running through London, the 4 pm " London fix" is the single most-used set of those. The London or "WM/Reuters" fix relates to several exchange rates and is compiled using data on actual transactions from Thomson Reuters, ICAP- owned EBS and others. The rates are calculated by WM, a unit of State...
Nov 10- State Street Corp said on Monday it was responding to subpoenas from the U.S. Department of Justice and the Securities and Exchange Commission for information regarding its solicitation of asset servicing business of public retirement plans. Separately, the SEC said it would increase its enforcement actions in the municipal market, encouraged by its...
Nov 7- U.S. regulators plan to allow investment management firm Eaton Vance Corp to launch a new breed of actively managed exchange-traded funds that can keep their holdings secret for months at a time, boosting Eaton Vance shares by 22 percent on Friday. In a notice published late Thursday night, the U.S. Securities and Exchange Commission said it intends to...
*New rules mapped out after Libor rate-rigging scandal. LONDON, Nov 7- Only months into an overhaul of financial benchmarks at the centre of market manipulation allegations, traders and investors have raised concerns over whether new rules will work and big banks will have too much influence. In the $5 trillion- a-day currency market, regulators plan to extend...
U.S. stock index futures are pointing to a lower open on Wall St on Friday after the first Ebola case is confirmed in New York.
LONDON, Sept 30- The one minute window for setting a widely used currency market benchmark should be extended to 5 minutes to make it harder to manipulate prices, the Group of Twenty's regulatory task force said on Tuesday.
Goldman Sachs has laid the groundwork to launch actively managed exchange-traded funds, the latest Wall Street bank to set its sights on the market.
NEW YORK, Sept 22- Goldman Sachs Group Inc has laid the groundwork to launch actively managed exchange-traded funds, becoming the latest Wall Street bank to set its sights on the fast-growing market.
LONDON, Aug 13- The world's top banks have backed the bulk of recommendations from regulators to reform the setting of the leading global currency benchmark following allegations of market rigging, making changes inevitable.
WASHINGTON, Aug 5- U.S. regulators on Tuesday told banks to come up with better living wills, inching a step closer to taking action if these plans to avoid taxpayer bailouts during a future crisis were still deficient next year.
So-called living wills submitted by big banks are "not credible" and have to be revised by next July, federal regulators said on Tuesday.
Even as traders monitor the world's hot spots, corporate earnings news could be a positive for stocks in the week ahead.
The planned transformation of EBS, owned by the world's largest interdealer broker ICAP, comes as the sector faces greater regulatory scrutiny after alleged manipulation of foreign exchange benchmarks used to price trillions of dollars of investments and company deals.
*Report backs reform of existing ECB and 4 p.m. London fixes. At the center of the investigations is activity around the 4 p.m. currency fix in London, a 60- second window where key exchange rates are set. The Financial Stability Board, based in Basel in Switzerland, said it had no access to any evidence or knowledge of any details of the investigations.
*Report backs reform of existing ECB and 4 p.m. London fix. LONDON, July 15- The G20's global financial regulator on Tuesday urged deep-rooted change to how currency benchmarks are set, a response to allegations that dealers at major banks colluded and manipulated rates.
Cramer rarely likes to play piggyback and follow another investor into a stock. But this is an exception.
July 9- State Street Corp has reached $70 million in settlements to end three lawsuits claiming it inflated its share price by overcharging clients on foreign exchange services and falsely representing that its investments in mortgage-backed securities were safe.
July 9- State Street Corp has reached a $60 million settlement of a shareholder lawsuit that accused it of overcharging clients for foreign exchange services, and falsely stating it invested only in "high quality" assets, according to a court filing.