Banking Archives

Singapore “Censures” Erring Banks For Attempted Manipulation of Local Benchmark Interest Rates

International Finance DeskJune 18, 2013

by International Finance DeskJune 18, 2013

Singapore’s Central Bank has censured a record 20 banks on Friday after it found that 133 traders in the city tried to rig key borrowing and currency rates. June 18,2013 : Singapore’s Central Bank has rapped 20 banks for allowing 133 traders to attempt to manipulate interest rates and foreign exchange benchmarks for a period of...

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Andrew Bailey at the Society of Business Economists

International Finance DeskJune 17, 2013

by International Finance DeskJune 17, 2013

Andrew Bailey, Deputy Governor, Prudential Regulation and Chief Executive Office, Prudential Regulation Authority. June 17,2013 : The financial crisis has provided hard lessons on what happens when the stability of the financial system is found wanting. It has reminded us how much we depend upon the supply of critical services from banks, insurers, investment firms, asset managers and...

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‘Central Counterparties – what are they, why do they matter and how does the Bank supervise them?’

International Finance DeskJune 17, 2013

by International Finance DeskJune 17, 2013

Financial market infrastructures play a crucial role in helping the economy and financial markets to function. June 17,2013 :Financial market infrastructures lie at the heart of the financial system. They settle transactions and, by stepping in between buyers and sellers, ensure that financial obligations are met. Central counterparties (CCPs) – also known as clearing houses –...

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Japan’s economy builds momentum, gives Prime Minister Shinzo Abe’s policies a boost

International Finance DeskJune 12, 2013

by International Finance DeskJune 12, 2013

Japan’s Central Bank ended a two day policy meeting on Tuesday and pledged to persist with its aggressive monetary easing policies aimed at ending deflation. June 12,2013 : The Bank of Japan, has raised its assessment of the Japanese economy for the sixth straight month, due to a surge in exports and continued resilience in private...

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HSBC is “Numero Uno” among European Banks

International Finance DeskJune 11, 2013

by International Finance DeskJune 11, 2013

HSBC has gone past France and Germany’s largest lenders to take the top spot on a league table of Europe’s biggest banks as its assets grew to more than 2 trillion Euros ( £ 1.7 trillion). June 11, 2013 : International Finance Magazine, reports on the rise of the bank, its rapid growth and its role...

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Premier League Revenue Rises to £ 3 Billion Pounds for First Time

International Finance DeskJune 10, 2013

by International Finance DeskJune 10, 2013

English Premier League clubs will enjoy a revenue boost of almost 25 percent next season due to new television deals. June 10, 2013 : The combined revenue of the 92 clubs of England’s top four division’s football is estimated to be more than 3 billion pounds ($ 4.6 million) for the first time next season. According...

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RBA leaves rate unchanged at 2.5%

International Finance DeskJune 10, 2013

by International Finance DeskJune 10, 2013

RBA chief Glenn Stevens has rightly configured the monetary policy to foster sustainable growth in demand and contain inflation, reports TEAM IFM Sydney, June 10: The Australian central bank has kept its key rate unchanged at 2.5 percent for the 10th straight month as a mining investment slowdown has impacted growth resulting in the need for...

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RBI takes steps to spur bank lending

International Finance DeskJune 10, 2013

by International Finance DeskJune 10, 2013

Indian central bank’s pragmatic moves will help the new government stick to prudent fiscal management and usher in broader reforms, reports Team IFM New Delhi, June 10: India’s central bank chief Raghuram Rajan Tuesday eased credit rules and indicated he would ease monetary policy further if inflation slowed faster than anticipated, leaving interest rates unchanged...

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Bank of America’s 8.5 Billion Settlement Heads for Court Showdown

International Finance DeskJune 7, 2013

by International Finance DeskJune 7, 2013

American International Group Inc. and others have objected to this settlement, saying the settlement made to them is a fraction of the money they lost. June 07, 2013: Court proceedings have begun on an 8.5 billion settlement between Bank of America and investors in mortgage securities that turned bad during the financial crisis in 2008. Bank...

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IMF tells France to Speed up Reforms and Contain Public Spending

International Finance DeskJune 7, 2013

by International Finance DeskJune 7, 2013

In its report on France, the fund has trimmed its forecast to see the economy contract by 0.2 percent this year from a previous – 0.1 percent. June 07,2013: The International Monetary Fund (IMF) has advised France to focus on removing obstacles to growth, liberalize its economy and lower labor costs to get back to growth...