Topic: Banking

To the frustration of Mario Draghi the European Central Bank is once again being eyed as a possible saviour of Europe’s monetary union. The FT reports.

State Street Chairman Jay Hooley has sent a not-so-subtle message to European banks: He's ready to buy their custody and trust operations.

European leaders meet in Brussels this evening for an informal dinner being billed as a showdown between German Chancellor Angela Merkel and French President Francois Hollande over the tricky issue of Eurobonds—bonds issued by the EU and backed by euro zone members collectively.

When Lehman Brothers declared bankruptcy in September 2008, investors rushed to buy gold. When the eurozone crisis erupted in 2010, they bought more.' But this year the buying has fizzled out, reports the Financial Times.

The head of the SEC told lawmakers on Tuesday that her agency is probing JPMorgan's financial reporting and emphasized that big banks are required to publicly disclose changes to the models they use to measure risk.

JPMorgan Chase is one of the best banks in the U.S., with some of the best managers in the industry, and one trading error will not change that, Richard Bove, vice president of equity research, financial sector, at Rochdale Securities, told CNBC’s “Worldwide Exchange.”

The markets have been oversold amid intense pessimism and a relief rally will be on its way within the next month, David Murrin, chief investment officer at alternative investment firm Emergent Asset Management, told CNBC’s “Worldwide Exchange”.

There has been no official announcement. No terms or conditions have been disclosed. But Greece’s banking system is being propped up by an estimated €100 billion or so of emergency liquidity provided by the country’s central bank – approved secretly by the European Central Bank in Frankfurt. The FT reports.

South Korea’s President Lee Myung-bak says Greece needs to accept the terms of a $130 billion international bailout agreed in March and there will be no disbursement of money from the International Monetary Fund (IMF), unless the country does so.

Following JPMorgan's multi-billion dollar trading loss, CEO Brian Moynihan says he is "very confident" with the composition of Bank of America's investment portfolio.

JPMorgan Chase is suspending its share buybacks as it licks its wounds from the aftermath of its $2 billion hedging loss, CEO Jamie Dimon said Monday.

Lowe's, the world's second-largest home improvement chain, cut its fiscal-year earnings outlook on Monday and said demand had slowed toward the end of the traditionally strong first quarter, sending its shares down more than 3 percent.

Britain's Barclays said it is to sell all of its $6.1 billion stake in U.S. asset manager BlackRock which it has held for almost three years.

The Institute of Directors has endorsed a radical proposal that recommends replacing part of the UK tax system with a single income tax rate of 30 percent and reducing the government’s share of the national economy to one-third, the Financial Times reports.

The Securities and Exchange Commission has been getting tougher on insider trading on Wall Street, but its potential target may be too wide, The New York Times reports.