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  • FRANKFURT/ RIGA, Feb 24- Latvia's ABLV Bank is failing or likely to fail and will be wound up as saving it is not in the public interest, the European Union's Single Resolution Board and the European Central Bank said separately on Saturday. Privately held ABLV, Latvia's third-biggest bank, has been in focus since U.S. authorities accused it of covering up money...

  • ATHENS, Feb 24- Greek banks need to do more to reduce their very high stock of non-performing loans, the European Central Bank's chief supervisor Daniele Nouy was reported as saying in an interview published by To Vima newspaper on Saturday. Banks have agreed with European Central Bank regulators to shrink NPEs by about 40 percent by end-2019.

  • BEIJING, Feb 24- China's banking regulator has introduced steps to cut the red tape for foreign banks, state media agency Xinhua said on Saturday, as part of the government's ongoing effort to promote investment in the country's fast-growing financial sector. The China Banking Regulatory Commission has revised its rules for foreign banks, scrapping approval...

  • BERLIN— The European Central Bank said Saturday it has determined that Latvia's crisis-struck ABLV Bank is failing or likely to fail, and the bank will be wound up under its home country's law. On Monday, Latvia's financial regulator ordered ABLV, Latvia's third-largest bank by assets, to cease all payments at the ECB's request amid U.S. accusations of money...

  • NEW YORK— Recently filed federal charges against President Donald Trump's ex-campaign chairman Paul Manafort could also pose legal and regulatory risks for the banks that loaned him millions of dollars against his New York real estate in recent years. Dubbed "Lender B" in court papers, Citizens Bank not only lent Manafort $3.4 million based off of fraudulent...

  • FRANKFURT/ RIGA, Feb 24- Latvian lender ABLV Bank is failing or likely to fail and will be wound up as saving it is not in the public interest, the European Union's Single Resolution Board and the European Central Bank said separately on Saturday. Latvia, a member of the euro zone and which borders Russia, has come under increasing scrutiny recently over allegations...

  • BUDAPEST- Hungarian Central Bank rate-setting meeting- 1300 GMT. SAO PAULO- Federal Reserve Bank of New York President William Dudley speaks on trade and globalization before an event organized by the Central Bank of Brazil- 1600 GMT. PRAGUE- European Central Bank Executive Board member Yves Mersch speaks at the KPMG Finance Forum 2018- 0800 GMT.

  • WINSTON-SALEM, N.C.— BB&T continued its work on Friday to restore all of its online banking services after an outage blamed on an equipment malfunction left some customers unable to access their accounts. "We are listening to our clients and we are committed to making this right," said Brian Davis, BB&T director of corporate communications. An outage map showed the...

  • NEW YORK/ LOS ANGELES, Feb 23- Federal Reserve policymakers are fretting that they could face the next U.S. recession with an arsenal of policies little different from that used in the last downturn but robbed of much of their punch because interest rates are still low. "The thing that keeps me up at night is that when that next recession happens, and hopefully not for...

  • LOS ANGELES, Feb 23- The Federal Reserve should raise U.S. interest rates three or four times this year, John Williams, president of the San Francisco Federal Reserve Bank, said on Friday, adding that the next rate hike should take place in "the near future." "A steady three to four rate increases this year is really the right path," Williams told reporters after a Town Hall...

  • NEW YORK, Feb 23- Federal Reserve policymakers fretted on Friday that they could face the next U.S. recession with virtually the same arsenal of policies used in the last downturn and, with interest rates still relatively low, those will not pack the same punch. We just don't want to be there, "Boston Fed President Eric Rosengren told a conference of economists and...

  • LOS ANGELES, Feb 23- San Francisco Federal Reserve Bank President John Williams on Friday stood by the U.S. central bank's guidance for gradual rate hikes ahead, saying that the economic outlook has not fundamentally changed from when that guidance was issued. Fed officials have said since late last year that they expect three rate hikes to be appropriate for...

  • NEW YORK, Feb 23- Federal Reserve policymakers fretted on Friday that they could face the next U.S. recession with virtually the same arsenal of policies used in the last downturn and, with interest rates still relatively low, those will not pack the same punch. We just don't want to be there, "Boston Fed President Eric Rosengren told a conference of economists and...

  • PARIS— The watchdog that monitors global and illicit misuse of funds cited North Korea as a top source of "ongoing and substantial" money laundering and terrorist financing in a report issued Friday, and urged countries to keep North Korea at arm's length and close its banks. The Financial Action Task Force said in the report issued after plenary session that...

  • *Bollywood star Priyanka Chopra cuts ties with Nirav Modi's brand Phartiyal. MUMBAI, Feb 23- India's central bank has told lenders to link their internal software with the SWIFT interbank messaging system by the end of April, and to alter a range of other protocols with immediate effect, as fallout from an alleged $1.77 billion fraud at Punjab National Bank...

  • Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland.

    Citigroup will issue $335 million to customers after failing to reduce interest charges on some 1.75 million credit card accounts.

  • Its ATMs and phone banking services were back online after a brief outage, said Brian Davis, a spokesman for the North Carolina- based lender.

  • RIGA, Feb 23- Latvia's central bank provided an emergency loan to troubled lender ABLV on Friday, offering it a potential lifeline as a European Central Bank deadline approaches for the bank to present a credible survival plan. Latvia, a member of the euro zone that borders Russia, has come under increasing scrutiny recently over allegations that it is a conduit...

  • WASHINGTON— The Federal Reserve says it expects that the ongoing strength of the U.S. economy will warrant gradual increases in interest rates this year, delivering the same steady-as-it-goes message under new leader Jerome Powell as it had provided under Janet Yellen. The Fed's projection on rate hikes came with the release Friday of its semi-annual...

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