LONDON, Dec 14- Although the main banks have stepped up preparations for a potential no-deal Brexit, UK- based payment firms used by European Union customers are not ready, the bloc's banking watchdog said on Friday. The impasse has increased the possibility of Britain crashing out of the bloc with no transition arrangements. Being in an EU member state, payments...
gift@ NEW YORK, Dec 14- Investors are eager for a touch of Christmas cheer from the U.S. Federal Reserve next week, hoping for signs the central bank may ease up on interest rate hikes next year and spark a Santa Claus rally. "It's imperative a dovish statement and an accommodative Q&A session," said Bucky Hellwig, senior vice president at BB&T Wealth Management in...
While accounts that promise as much as 3 percent interest might catch your eye, you need to be careful about how your money is protected.
BERLIN, Dec 14- German Finance Minister Olaf Scholz on Friday lauded positive developments in the German banking sector in recent months, and said his ministry was not overly concerned about the future of Deutsche Bank, Germany's largest bank. Scholz said Germany needed strong and successful banks to work with the many German firms active around the world.
SIPC President and CEO Stephen Harbeck tells CNBC he has serious concerns about the plan, and contacted the Securities and Exchange Commission's trading and markets division about it.
Adam Richmond, head of U.S. credit strategy for Morgan Stanley, joins CNBC's "Squawk Box" to take a look at the odds of a Fed rate hike.
MOSCOW, Dec 14- The Russian central bank raised its key interest rate to 7.75 percent on Friday, responding to rising inflation and pressure on the rouble that is set to grow after the bank announced it would resume purchases of foreign currency for state reserves. In a Reuters poll, the majority of experts had said they expected the central bank to keep the rate...
BUDAPEST/ PRAGUE, Dec 14- The Czech crown held onto earlier gains, bucking weakness in eastern Europe on Friday, after a central bank board member earlier this week flagged the possibility of raising interest rates again soon. Czech central bank board member Vojtech Benda told Reuters on Wednesday that a weaker-than-expected crown was a reason to debate...
BUDAPEST/ PRAGUE, Dec 14- The Czech crown held onto earlier gains, bucking weakness in eastern Europe on Friday, after a central bank board member earlier this week flagged the possibility of raising interest rates again soon. Czech central bank board member Vojtech Benda told Reuters on Wednesday that a weaker-than-expected crown was a reason to debate...
FRANKFURT, Dec 14- The European Central Bank will begin to supervise Barclays Bank Ireland and the Irish subsidiary of Bank of America Merrill Lynch from next year as they are expected to grow in size following Brexit, the ECB said on Friday.
MOSCOW, Dec 14- The Russian rouble weakened in early trade on Friday ahead of a central bank rate-setting meeting and its decision on whether to resume regular foreign currency buying on the market. "In our baseline scenario, we expect the rouble to show limited reaction to the event," analysts at VTB Capital said in a note. The central bank's rate decision is due at...
SHANGHAI, Dec 14- China's central bank lent 286 billion yuan to financial institutions via its one-year medium-term lending facility on Friday, rolling over the same amount of such loans that were maturing, it said in a statement. The interest rate for the one-year MLF was 3.30 percent, the People's Bank of China said, unchanged from the previous such operation.
Jim Cramer tells investors not to wait around for a bounce in the oil and bank stocks when there are more profitable near-term plays.
**ZAGREB- Croatia central bank Governor Boris Vujcic and his aides will hold a traditional end-year briefing for journalists about economic situation assessment and policy plans for 2019- 1100 GMT. WARSAW- National Bank of Poland holds Monetary Policy Council Meeting RABAT- Bank of Morocco holds monetary policy meeting. BUDAPEST- Hungarian Central Bank holds...
SAO PAULO, Dec 13- JPMorgan Chase& Co named Lucianna Lorenzo as its new head of debt capital markets in Brazil, replacing Ricardo Leoni, the bank said in an internal statement on Thursday. Lorenzo has been working for JPMorgan for 17 years, dealing with sales for financial institutions. Leoni was named head of corporate banking for Latin America earlier this year.
TORONTO, Dec 13- Canada's biggest banks are tightening their grip over the country's C $1.5 trillion mortgage market as new rules designed to cut out risky lending make it harder for borrowers to switch lenders, with some analysts betting on more gains for the country's biggest two banks. "B-20 has created higher renewal rates for the big banks, driving volumes...
People can find a more profitable place to store their savings.
Dec 13- Standard Chartered Plc has laid off over 200 employees in India in its retail banking division, as more customers move to digital services, a person familiar with the matter told Reuters on Thursday. The layoffs would not result in any branch closures in the country, according to the source. Reuters last week reported similar job cuts at the bank's...
FRANKFURT, Dec 13- Shareholders and a major union expressed skepticism on Thursday about speculation of a merger between Deutsche Bank and Commerzbank. Talk of a possible merger between Germany's two largest banks has heated up in the past few weeks as both lenders are still struggling to revitalize their performance a decade on from the financial crisis.
FRANKFURT, Dec 13- Shareholders and a major union expressed scepticism on Thursday about speculation of a merger between Deutsche Bank and Commerzbank. Talk of a possible merger between Germany's two largest banks has heated up in the past few weeks as both lenders are still struggling to revitalise their performance a decade on from the financial crisis.
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