FRANKFURT, June 28 (Reuters) – Euro zone countries should not cut bank capital buffers and some should even increase them given record profits in the sector and clouds on the horizon, the European Central Bank said on Friday. Lending has all but come to a halt in the euro zone for the past year as […]
LONDON, June 27 (Reuters) – Lloyds Banking Group (LLOY.L), opens new tab is set to make an extra 300 million pounds ($380 million) a year in revenue by 2026 from its business banking unit, CEO Charlie Nunn said on Thursday, as corporate confidence picks up in Britain despite challenges. The British bank’s Business and Commercial Banking (BCB) […]
WASHINGTON—Big U.S. banks passed their latest annual stress test, with the Federal Reserve finding they would be able to continue lending to households and businesses in a severe recession, even while suffering steeper losses than last year’s tests. This year’s exercise measured the 31 biggest banks’ ability to maintain strong capital levels in a hypothetical […]
JPMorgan Chase said late Wednesday that the Federal Reserve overestimated a key measure of income in the giant bank’s recent stress test, and that its losses under the exam should actually be higher than what the regulator found. The bank took the unusual step of issuing a press release minutes before midnight ET to disclose its response to the Fed’s findings. […]
LONDON, June 27 (Reuters) – Risk management in the private equity sector needs improving, particularly as the period of low interest rates leads to higher financing costs in the highly leveraged industry, the Bank of England said on Thursday. The BoE said in its twice-yearly Financial Stability Report that the an investigation of the sector […]
MUMBAI, June 27 (Reuters) – Indian banks’ capital position remains robust, supported by high profits, and their asset quality should further improve through March next year, a report released by the central bank on Thursday showed. Banks’ bad loans, or gross non-performing asset ratio, slipped to a multi-year low of 2.8% in March 2024 from […]
LONDON, June 26 (Reuters) – British investment trusts Alliance Trust (ATST.L), opens new tab and Witan (WTAN.L), opens new tab have agreed to merge to create a company managing 5 billion pounds ($6.33 billion) of assets, in the latest example of consolidation in the fund management sector. The newly formed Alliance Witan is expected to be eligible to join […]
Crossover Markets, a superfast execution-only trading platform for cryptocurrencies, has raised a $12 million Series A led by Illuminate Financial and DRW Venture Capital. Crypto trading is evolving such that it can cater to both those players who want the simplicity of a vertically integrated model, as well as those institutions further up the ladder […]
LONDON, June 26 (Reuters) – British investment trusts Alliance Trust (ATST.L), opens new tab and Witan (WTAN.L), opens new tab have agreed to merge to create a company managing 5 billion pounds ($6.33 billion) of assets, in the latest example of consolidation in the fund management sector. The newly formed Alliance Witan is expected to be eligible to join […]
LONDON, June 26 (Reuters) – European stock markets were higher on Wednesday as the market braced for a French election and a key U.S. inflation reading, while the yen lurked just shy of 160 per dollar level, keeping traders on alert for possible intervention. Risk sentiment in Europe was broadly positive after a rebound in […]