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  • OTTAWA/ TORONTO, Nov 20- The Bank of Canada will review its monetary policies and is open to changes such as dropping decades-old inflation targeting, a top official said on Tuesday, although some economists were skeptical about the central bank's ability to make major policy shifts. "It is time to conduct a thorough review of the alternatives," she said in a lecture...

  • WASHINGTON, Nov 20- The U.S. banking sector reported $62 billion in profits in the third quarter, up 29.3 percent from the same period a year ago, according to quarterly data from the Federal Deposit Insurance Corporation. The regulator said in a statement that profits were boosted by a lower effective tax rate and higher operating revenues.

  • *Hungary's central bank gives no signal on tightening. *Moody's may upgrade Hungary's credit rating on Friday. This means that it could keep domestic markets awash in money, and domestic bonds also benefited from a drop in bond yields in most of Europe except for Italy, and the strength of the forint, one Budapest- based fixed income trader said.

  • WARSAW, Nov 20- Poland's central bank has suspended reserve requirements for Idea Bank as shares in the small Polish lender fell further on Tuesday amid investor and customer concerns about the bank, which has been hit by a corruption scandal. Shares in Idea Bank have fallen by more than 40 percent since its owner, Polish billionaire Leszek Czarnecki, alleged...

  • LONDON, Nov 20- Bank of England Governor Mark Carney gave his backing to a Brexit deal struck by British Prime Minister Theresa May, saying the alternative of leaving the European Union with no transition could be akin to the 1970 s oil shock. May agreed with Brussels last week on a deal for Britain's withdrawal from the EU in little more than four months' time.

  • A general meeting of Deutsche Bank 

    Shares of Deutsche Bank hit fresh record lows Tuesday after the bank confirmed it was involved in processing payments worth $150 billion for scandal-ridden Danske Bank.

  • Earlier, cautious comments overnight by Federal Reserve officials about the global economic outlook, weak U.S. data and a selloff on Wall Street had knocked the dollar lower and supported the single currency. But the euro gave up is gains as European stocks fell, Italian bank shares hit a two-year low and Italian bonds sold off again amid an ongoing...

  • ZURICH, Nov 20- Swiss cooperative lender Raiffeisen on Tuesday named Heinz Huber its new chief executive as it seeks to turn the page on a series of scandals under previous management. "We're glad that, in Heinz Huber, we've won an accomplished leader as the new head of our executive management. His entrepreneurial thinking and strength in execution fully...

  • SINGAPORE, Nov 20- The dollar hit a near two-week low against its peers on Tuesday with sentiment soured by Federal Reserve caution on the global outlook and weak data at home, pointing to slower rate hikes. Last week, Fed Vice Chair Richard Clarida and Dallas Fed President Robert Kaplan raised concerns over a potential global slowdown that has seen markets...

  • BENGALURU, Nov 20- The Federal Reserve is still expected to raise interest rates again next month and three times next year, but a strong majority of economists polled by Reuters over the past week say the risk is it will slow that pace down. The probability of a U.S. recession in the next two years, while still low, also nudged up to a median 35 percent from 30 percent in...

  • LONDON, Nov 19- Federal Reserve Governor Randal Quarles is set to be appointed the new head of the Financial Stability Board in a bid to keep a skeptical United States engaged in the international body, two people with knowledge of the discussions said on Monday. Klaas Knot, president of the Dutch Central Bank, was also on the shortlist for chair and will become the...

  • NEW YORK, Nov 19- The dollar dropped to two-week lows on Monday, pressured by cautious comments about the U.S. economy from Federal Reserve officials suggesting the central bank may be nearing the end of its tightening cycle. Fed Vice Chair Richard Clarida and Dallas Fed President Robert Kaplan on Friday raised concerns over a potential global slowdown that has...

  • *SocGen agrees to pay $1.3 bln for sanction violations. PARIS/ WASHINGTON, Nov 19- French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.4 billion to resolve pending legal disputes. The bank agreed to pay $1.34 billion to settle investigations into its handling dollar transactions in violation of U.S. sanctions...

  • WASHINGTON, Nov 19- Federal Reserve governor Randal Quarles is to become the new head of the Financial Stability Board, the international body that helps monitor and safeguard financial stability globally, two people familiar with the process said. He will replace Mark Carney, the Bank of England governor whose term ends this year. Klaas Knot, president of the...

  • MUMBAI/ NEW DELHI, Nov 19- The board of India's central bank advised it to act to support small businesses and give banks more time to step up capital norms, following weeks of pressure from Prime Minister Narendra Modi's government to spur lending ahead of elections. After a nine-hour board meeting on Monday, the Reserve Bank of India said its board also decided to...

  • From 2003 to 2013, the bank executed billions of dollars in illegal transactions to parties in countries subject to embargoes or otherwise sanctioned by the United States, including Iran, Sudan, Cuba and Libya, the authorities said. The fines were issued by the Federal Reserve, U.S. Department of Justice, the U.S. Treasurys Office of Foreign Assets Control, the New...

  • Frederic Oudea, chief executive officer of Societe Generale SA.

    French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.4 billion to resolve pending legal disputes.

  • COPENHAGEN, Nov 19- The whistleblower who revealed alleged money laundering involving Danske Bank said on Monday that a major European bank helped process up to $150 billion in suspicious payments and two U.S. lenders were also involved. Howard Wilkinson, who was head of Danske Bank's trading unit in the Baltics from 2007 to 2014, did not name the banks, but...

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