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Congress Financial Reform

  • WASHINGTON, June 21- The 35 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. Although the banks, including household names like JPMorgan Chase& Co, Citigroup Inc and Bank of America Corp,...

  • WASHINGTON, June 21- The 35 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. Although the banks, including household names like JPMorgan Chase& Co, Citigroup Inc and Bank of America Corp,...

  • WASHINGTON, June 14- A top U.S. banking regulator who bought financial stocks in the months before he became a regulator for the industry told lawmakers on Thursday that those investments were allowable and proper. "I was in constant communication with the Treasury Department ethics department through this entire process," Otting told the Senate Banking...

  • WASHINGTON, June 14- A top U.S. banking regulator who bought financial stocks in the months before he became a regulator for the industry told lawmakers on Thursday that those investments were allowable and proper. Speaking before the Senate Banking Committee, Otting said he had sold off his financial investments and that ethics officials had never told him to...

  • NEW YORK, June 14- The New York Department of Financial Services said on Thursday it had granted a virtual currency license to global financial services company Xapo to offer a digital wallet and vault service. DFS also approved New York- based global cryptocurrency exchange itBit's application to trade and offer custody services to four additional virtual...

  • ABU DHABI, June 11- The Central Bank of the United Arab Emirates said on Monday it has restricted the operations of seven currency exchange houses for violating anti-money laundering and other regulations. The UAE's huge expatriate workforce and growing business and tourism sectors have made it a global centre for exchanging foreign currencies and...

  • LONDON, June 8- The European Banking Authority has opened a formal investigation into "shortcomings" over how Malta's Financial Intelligence Analysis Unit enforced anti-money laundering rules at Pilatus bank. Malta's regulators imposed a freeze on the business of Pilatus Bank in March after its chairman, Ali Sadr Hashemi Nejad, was accused in an indictment...

  • WASHINGTON, June 7- A U.S. bank regulator said on Thursday that an industry-wide review prompted by Wells Fargo& Co's sales practices scandal had uncovered some instances of phony accounts at other lenders but little evidence of a "systemic" problem. The Office of the Comptroller of the Currency reviewed more than 40 large and midsize banks after Wells Fargo's...

  • LONDON, June 7- Britain's financial regulators should have a formal objective to keep London's banking and insurance sectors globally competitive after Brexit, a senior lawmaker said on Thursday. This remit was not included in objectives of its two successor bodies, the Financial Conduct Authority, and the Prudential Regulation Authority at the Bank of...

  • People queue outside a PrivatBank branch in Ukraine.

    Lawmakers Ukraine's parliament will vote Thursday on the creation of an anti-corruption court, a key condition of unlocking the country's $17.5 billion IMF bailout.

  • LONDON, June 6- Britain's markets regulator has fined the UK division of India's Canara Bank 896,100 pounds and blocked it from accepting new deposits for around five months for systemic anti-money laundering failures. The Financial Conduct Authority said on Wednesday that the control failures at the UK division of Canara Bank, India's fifth largest...

  • HONG KONG, June 5- Australia's anti-cartel laws have come to global attention with the country's competition watchdog lodging criminal charges for alleged cartel behavior against two global investment banks, in a move one expert called "almost unique." Banking expert Andrew Grant at the University of Sydney Business School said the move was "almost unique" in...

  • June 5- Australia's competition regulator on Tuesday said criminal charges had been laid against Australia and New Zealand Banking Group Ltd, a local unit of Citigroup and Deutsche Bank AG relating to cartel offences over a $2.3 billion share issue. Criminal charges have also been laid against several senior executives, including ANZ Treasurer Rick Moscati...

  • HONG KONG, June 5- Australia's anti-cartel laws have come to global attention after the country's competition watchdog said it would lodge criminal charges for alleged cartel behavior against two global investment banks, in a move one expert called "almost unique." Banking expert Andrew Grant at the University of Sydney Business School said the move was "...

  • AMSTERDAM, June 4- British financial technology startup Revolut plans to apply for a banking license in the United States, Chief Executive Officer Nikolay Storonsky said on Monday. It plans to launch services in the United States this summer with a banking partner, Storonsky said. Other financial technology companies seeking banking licenses in the United...

  • SYDNEY, June 1- Australia and New Zealand Banking Group Ltd will be slapped with criminal cartel charges over a $2.3 billion share issue, Australia's consumer watchdog said on Friday, in the latest blow to the country's scandal-ridden financial sector. The allegations involve Australia's third-largest bank, its treasurer, Rick Moscati, two other companies...

  • FRANKFURT, May 31- The United States Federal Reserve last year designated Deutsche Bank AG's U.S. operations to be in "troubled condition," The Wall Street Journal reported, citing people familiar with the matter. The Fed downgrade caused the U.S. Federal Deposit Insurance Corporation to put Deutsche Bank Trust Company Americas, on its list of "Problem Banks," it...

  • SYDNEY/ WELLINGTON, May 30- A review of New Zealand's banking sector has found no evidence of systemic problems to warrant an inquiry like one that has rocked the industry in neighboring Australia, financial regulators said on Wednesday. The heads of the Reserve Bank of New Zealand and the Financial Markets Authority told lawmakers their review of the industry...

  • SHANGHAI, May 30- China's banking regulator is carrying out nationwide inspections on financial institutions such as trusts to check on their shadow banking and interbank activities, the China Securities Journal reported on Wednesday citing industry sources. The move was in line with a notice issued by the China Banking Regulatory Commission in January...

  • ATHENS, May 29- Greece's largest lender Piraeus Bank said on Tuesday it had agreed to sell a 1.45 billion euro portfolio of secured, non-performing business loans to Bain Capital Credit as part of moves to reduce its bad debts. Piraeus said the deal, subject to approval by regulators and Greece's HFSF bank rescue fund, which owns 26.2 percent of the lender, would...