The logo of National Australia Bank adorns their headquarters building in central Sydney, Australia June 22, 2017. REUTERS/David Gray A second Australian state on Friday said it was open to charging its own bank tax, raising fears the federal government has op... More »
A combination file photo shows international banks Morgan Stanley, Barclays, Goldman Sachs, JPMorgan, Credit Suisse, Citigroup and Bank of America Merrill Lynch from Reuters archive. REUTERS/File photos The 34 largest U.S. banks have all cleared the first stag... More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Wall Street banks on Tuesday cheered U.S. President Donald Trump’s plans to loosen the leash put on them ... More »
FILE PHOTO: People walk past a UniCredit bank in downtown Rome, May 10, 2016. REUTERS/Tony Gentile/File Photo The chief executive of UniCredit (CRDI.MI), Italy’s biggest bank by assets, said on Sunday he was confident a solution for the country’s two ailing Ve... More »
The Swift bank logo is pictured in this photo illustration taken April 26, 2016. REUTERS/Carlo Allegri/File Photo Dealing with cyber hacks on banks ate into profit last year at the SWIFT messaging system, which financial institutions use to move trillions of d... More »
Flags fly over the Federal Reserve Headquarters on a windy day in Washington, U.S., May 26, 2017. REUTERS/Kevin Lamarque The U.S. Federal Reserve on Wednesday gave extensions of up to five years to Deutsche Bank, SVB Financial Group, and UBS Group on complying... More »
FILE PHOTO – People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. REUTERS/Mike Segar/File Photo Big U.S. banks revealed more evidence of a slowdown in loan growth in their earnings reports on Thu... More »
China’s banking regulator on Wednesday published a notice ordering lending institutions to effectively identify and control risks, the latest in a series of moves by the government to shore-up supervision of its financial system. More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake The federal government has ordered Wells Fargo (WFC.N) to reinstate a former bank manager who lost his job after reporting suspected fraudulent behavior at t... More »
FILE PHOTO: A woman walks at the Bund in front of the financial district of Pudong in Shanghai March 5, 2015. REUTERS/Aly Song As China’s banks prepare for a rigorous quarterly inspection of their books by the central bank, the ructions in money markets and an... More »
FILE PHOTO: The logo of Veneto Banca bank is seen in Venice, Italy, January 31 2016. REUTERS/Alessandro Bianchi/File Photo Italy’s plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Pas... More »
A hotel employee clears a table after Vodafone Group and Idea Cellular news conference in Mumbai, India March 20, 2017. REUTERS/Danish Siddiqui Investment banking business in India should be enjoying bumper fees after a record year of dealmaking. It’s not, and... More »
Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., March 21, 2017. REUTERS/Lucas Jackson Shares in U.S. banks tumbled on Tuesday as investors shrunk back from a post-election rally on worries that ... More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Wall Street bonuses may climb as much as 15 percent this year in their first meaningful uptick since 2009... More »
North Korean leader Kim Il-sung is seen on this 5000 North Korea won banknote in this photo illustration taken in Shanghai May 23, 2013. REUTERS/Carlos Barria SWIFT, the inter-bank messaging network which is the backbone of international finance, said it plann... More »
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2017. REUTERS/Brendan McDermid Bayliss More »
Russia’s Deputy Central Bank Governor Vasily Pozdyshev speaks during an interview with Reuters in Moscow, Russia, September 20, 2016. Picture taken September 20, 2016. REUTERS/Sergei Karpukhin Russia plans to extend a review of bank licenses for another two ye... More »
Traders work on the floor of the New York Stock Exchange, May 12, 2015. REUTERS/Brendan McDermid Bond trading revenue at the world’s top banks rose last year for the first time since 2012, thanks to increased activity after Britons’ voted to leave the European... More »
The offices of international finance companies are seen in the financial district of Canary Wharf in London, Britain, January 26, 2017. REUTERS/Eddie Keogh Commodities-related revenue at the 12 biggest investment banks fell by 7 percent last year, mainly due t... More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Wall Street is pushing back against a proposed rule to force U.S. banks like Goldman Sachs Group Inc to h... More »
FILE PHOTO: Offices in the financial district of Canary Wharf in London, Britain, January 19, 2017. REUTERS/Kevin Coombs/File Photo Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with... More »
FILE PHOTO: The Canary Wharf business district is seen reflected in windows at dusk in London, Britain December 11, 2016. REUTERS/Toby Melville/File Photo Market trading is booming at U.S. and European banks thanks to Donald Trump and Brexit, and yet the glory... More »
FILE PHOTO: The European Central Bank (ECB) headquarters is pictured in Frankfurt, Germany, January 21, 2015. REUTERS/Kai Pfaffenbach/File Photo The European Central Bank can set binding requirements if it thinks a bank is not cutting its pile of unpaid loans ... More »
Reporters raise their hands for a question during a news conference by Toshiba Corp CEO Satoshi Tsunakawa and other senior sompany officials at the company’s headquarters in Tokyo, Japan February 14, 2017. REUTERS/Toru Hanai Japan’s Toshiba Corp on Wednesday a... More »
As another battle over financial reform brews in Washington, a broad coalition of U.S. lenders and card networks is seizing the opportunity to try to recover billions of dollars in annual revenue they lost last time around. More »
A combination of photographs shows people using automated teller machines (ATMs) at Australia’s ”Big Four” banks – Australia and New Zealand Banking Group Ltd (bottom R), Commonwealth Bank of Australia (top R), National Australia Bank Ltd (bottom L) and Westpa... More »
DAY 8 / JANUARY 27: Trump’s order to restrict people from seven Muslim-majority countries from entering the United States sparked confusion and anger after immigrants and refugees were kept off flights and left stranded in airports. REUTERS/Carlos Barria Presi... More »
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration Including funds that banks set aside to cover potential losses, known as capital buffers, in the annual stress tests that U.S. r... More »
U.S. President Donald Trump talks to journalists members of the travel pool on board the Air Force One during his trip to Palm Beach, Florida while flying over South Carolina, U.S., February 3, 2017. REUTERS/Carlos Barria The U.S. Labor Department is looking i... More »
U.S. President Donald Trump signs an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington February 3, 2017. REUTERS/Kevin Lamarque With a swipe of his pen, U.S. President Donald Trump on F... More »
After signing, U.S. President Donald Trump holds up an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington, U.S. February 3, 2017. REUTERS/Kevin Lamarque The Dodd–Frank Wall Street Reform... More »
President Donald Trump on Friday will call on the U.S. Labor Department to delay for 180 days the implementation of its fiduciary duty rule requiring brokers offering retirement investment advice to put their clients’ interest first, according to a draft memo ... More »
A computer screen showing stock graphs is reflected on glasses in this illustration photo taken in Bordeaux, France, March 30, 2016. REUTERS/Regis Duvignau With investment firms cutting costs and portfolio managers combating a barrage of information, financial... More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Executives of big U.S. banks expressed optimism on Friday about the outlook for 2017 in their first publi... More »
The main entrance of the Monte dei Paschi bank headquarters is seen in Siena, Italy March 13, 2012. REUTERS/Max Rossi/File Photo On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train towards the medieva... More »
The main entrance of the Monte dei Paschi bank headquarters is seen in Siena, Italy March 13, 2012. REUTERS/Max Rossi/File Photo The European Central Bank has rejected a request by Italy’s Monte dei Paschi di Siena (BMPS.MI) for more time to raise capital, a s... More »
Elke Koenig, Chair of the Single Resolution Board, speaks during an interview with Reuters in Brussels, Belgium, August 10, 2016. REUTERS/Francois Lenoir The head of the euro zone banking watchdog, the Single Resolution Board (SRB), said on Monday that Italian... More »
A Toronto-Dominion Bank (TD) sign is seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie Traffic lights don’t just work for drivers, some bank customers obey them on their smartphones too. More »
A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo Monte dei Paschi di Siena (BMPS.MI) said Italian market regulator Consob had approved its debt-to-equity conversion offer whi... More »
The headquarters of the European Central Bank (ECB) are illuminated with a giant euro sign at the start of the ”Luminale, light and building” event in Frankfurt, Germany, March 12, 2016. EUTERS/Kai Pfaffenbach/File Photo The European Central Bank is talking to... More »
Commercial banks in the Gulf could lose their ability to have dollar trades cleared through the U.S. banking system, increasing risks for them, the United Arab Emirates’ central bank governor warned on Monday. More »
The headquarters of the European Central Bank (ECB) are pictured in Frankfurt, Germany, September 8, 2016. REUTERS/Ralph Orlowski/File Photo A European Central Bank push to iron out differences in how banks calculate capital requirements will inadvertently hel... More »
People sit outside the New York Stock Exchange (NYSE) during the morning commute in New York City, U.S., September 15, 2016. REUTERS/Brendan McDermid – RTSNWHN Just as memories of the financial crisis are fading and tough new banking regulations are beginning ... More »
By the end of December some U.S. bank customers may begin to notice features of the new Zelle instant payments network appearing on their mobile phone and online banking apps as the financial industry tries to catch up to technology company rivals, such as Ven... More »
The logo of Australia’s Commonwealth Bank adorns an automatic teller machine (ATM) in central Sydney, Australia, October 18, 2016. REUTERS/David Gray The first cross-border transaction between banks using multiple blockchain applications has taken place, Commo... More »
Storm clouds are seen above the Canary Wharf financial district in London, Britain, August 3, 2010. REUTERS/Greg Bos/File Photo Britain needs to focus its efforts on the banking sector when negotiating new financial trading terms with the European Union as the... More »
A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files JPMorgan Chase (JPM.N) and Citigroup (C.N) trounced third-quarter estimates on Friday on a sharp rebound in trading revenues whil... More »
Morrie Low, a 27-year-old Seattle cocktail server, has found an unlikely new source of pleasure: credit card companies. More »
Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem gestures during a European Union finance ministers meeting in Brussels, Belgium, July 12, 2016. REUTERS/Francois Lenoir A reform of global banking rules should focus on lenders’ internal models... More »
A red traffic light is pictured in front of the Deutsche Bank headquarters in Frankfurt, Germany, September 30, 2016. REUTERS/Kai Pfaffenbach While possibly Europe’s biggest “pain trade”, fund managers are under pressure to buy banking stocks despite the deep ... More »
A man walks on a logo of the Monte Dei Paschi Di Siena bank in Rome, Italy September 24, 2013. REUTERS/Alessandro Bianchi/File Photo European regulators expect Italian bank Monte dei Paschi di Siena will have to turn to the government for support, three euro z... More »
The logo of Dow Jones Industrial Average stock market index listed company JPMorgan Chase (JPM) is seen in Los Angeles, California, United States, in this October 12, 2010 file photo. REUTERS/Lucy Nicholson/File Photo JPMorgan retained its place at the top of ... More »
Banks in the central Chinese province of Henan have pledged to extend more than 450 billion yuan ($67.47 billion) in new loans to “key sectors” this year to aid their restructuring efforts, the local regulator said in a notice published on Sunday. More »
A cashier counts Indian rupee currency notes inside a bank in Mumbai August 5, 2013. REUTERS/Danish Siddiqui Eleven of India’s banks will likely be in danger of breaching capital triggers with the coming increases in minimum requirements under new global banki... More »
A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo – RTX2ORXD The European Central Bank has given a preliminary nod to the possible appointment of Marco Morelli, head of Bank o... More »
A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo Italian bank Monte dei Paschi plans to appoint a new chief executive in the next few days to lead a 5 billion-euro ($5.6 bill... More »
The Bank of America building is shown in Los Angeles, California October 29, 2014. REUTERS/Mike Blake/File Photo – RTSIJL2 Years of stubbornly low interest rates and expectations they will remain low for years to come have prompted U.S. banks to shift their ba... More »
Switzerland’s banks shed just over 1,000 jobs last year with the pace of staff cuts accelerating in the first half of 2016, although the outlook for the rest of the year was “stable”, the country’s banking lobby said on Thursday. More »
Over the past two years, a growing number of U.S. banks has capped their directors’ earnings, but the ceilings are so high that they primarily serve to fend off potential shareholder litigation rather than control the pace of pay increases. More »
A consortium of banks holding the majority of U.S. consumer accounts plans to launch its instant, person-to-person payments brand Zelle in the first half of 2017, a spokesman said on Thursday. More »
TOKYO Japan’s Ministry of Finance is negotiating with the country’s major banks to lend to the government at a zero interest rate in auctions beginning in October or November, a government official familiar with the procedure said on Monday. The government has... More »
NEW YORK International Business Machines Corp is in an unusual fix in telling big U.S. banks they can use its Watson software of Jeopardy-winning fame as a cost-saving solution: bankers say they like it, but cannot afford it. IBM is in a good company. Banks ar... More »
MILAN Italian bank Monte dei Paschi di Siena has secured underwriters to back a turnaround plan involving the sale of 9.2 billion euros ($10.3 billion) in bad loans and a 5 billion euros capital increase, the lender said in a statement on Friday. The country’s... More »
NEW YORK Big U.S. brokerages are redefining the term “wealthy” in their pursuit of ever-richer clients to prop up margins eroded by historically low interest rates and growing regulatory burdens. Brokerages owned by Morgan Stanley, Bank of America Corp and Wel... More »
NEW YORK Just as mortgage bankers were preparing for the end of a historic boom driven by low interest rates, borrowers have begun knocking at their doors again. In earnings reports last week, JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N) and Citigroup... More »
NEW YORK Big U.S. banks looking to wealth management to shore up their profits may have to wait for another year according to analysts, who expect market volatility to keep the business subdued throughout 2016. For years, wealth management has been banks’ crow... More »
LONDON Britain’s 2.2 million financial industry workers face years of uncertainty and the risk of thousands of job cuts after the country voted to quit the European Union, an upheaval that threatens London’s dominance of finance. The ‘Vote Leave’ campaign fron... More »
FRANKFURT The European Central Bank is planning to give euro zone banks non-binding guidance by the end of 2016 or early 2017 to cut their bad debt pile, raising the heat on lenders but not forcing their hand, sources said. The ECB, which supervises 129 of the... More »
TRENTO, Italy Excessive capital requirements can backfire, Italy’s economy minister said on Saturday, defending a joint French-Italian proposal to cap the amount of reserves that euro zone banks should have to wipe out before they can be rescued. Rules in forc... More »
LAGOS Nigeria’s central bank (CBN) and law enforcement agencies have launched an investigation into various banking deals after allegations of illegal transactions, it said on Tuesday, and authorities are questioning top executives at several banks. President ... More »
WASHINGTON The U.S. Treasury Department inched closer on Friday toward finalizing a rule requiring banks to identify the legal owners of shell companies, a move it hopes will help prevent illegal financial activities such as money laundering. The White House’s... More »
From his seat atop the Fed’s smallest bank, in a region known for fracking, farming and ranching, Neel Kashkari wants to make sure he’s heard well beyond the northern plains. Since becoming president of the Federal Reserve Bank of Minneapolis this year, the 42... More »
An obscure corner of the U.S. IPO market is getting a new lease on life as more Wall Street banks and institutional investors turn to blank-check acquisition vehicles, once the domain of only a few underwriters and hedge funds, for better fortunes. These speci... More »
MOSCOW Russian banks may use yuan to boost their capital, Mikhail Sukhov, a deputy governor with the Russian central bank, was quoted as saying by TASS news agency. RIA news agency quoted him as saying that a number of Chinese banks are interested in buying Ru... More »
NEW YORK Depositors at some of the largest U.S. banks are finally going to get the chance to do something quick and simple: send money to another person’s account instantaneously by mobile phone. The idea has been in the works for at least five years, and in t... More »
Activist investors are putting the U.S. banking sector in their crosshairs, betting that headwinds whipping through the industry will accelerate consolidation among lenders. While these activist hedge funds have already targeted some major financial companies,... More »
Wells Fargo & Co and Bank of America Corp are working to integrate mobile payment system Apple Pay into their ATMs, technology news website TechCrunch reported. The banks have deployed engineers to build the Apple Pay options, TechCrunch reported on Thursday, ... More »
NEW YORK In the textbooks Zach Abrams studied to become a certified financial planner 10 years ago, there was talk of a curious strategy called ‘laddering CDs’. Yet since the 31-year-old has been a practicing financial adviser, it has not come up much. Parking... More »
BRUSSELS EU antitrust regulators have dropped charges against 13 banks including Citigroup and Deutsche Bank for blocking exchanges from derivatives markets, but will continue their case against data company Markit and trade body ISDA. The European Commission ... More »
ROME Italy will use a new system set up by its central bank to save four small savings banks from failure before stricter rules for winding down lenders come in next year, banking sources told Reuters. The rescue will be conducted by the Bank of Italy at a cos... More »
Banks’ exposure to junk-rated companies and the oil and gas sector remains high, according to an annual report on loan quality by U.S. bank regulators released Thursday. The regulators gave a negative classification to $372.6 billion out of $3.9 trillion in lo... More »
BRUSSELSThe euro zone may need to spend only 10 billion euros or less to help recapitalize Greek banks, a senior EU official said, after an ECB test showed the sector would need an extra 14.4 billion euros of capital if major risks materialized. Euro zone cred... More »
FRANKFURT Greece’s banks need to raise more than 14 billion euros (10 billion pounds) of extra capital to cover mounting unpaid loans, the European Central Bank said on Saturday as it announced the results of stress tests intended to rehabilitate Greek lenders... More »
BOSTON Some big U.S. retailers are stepping up efforts to use personal identification numbers, or PINs, with new credit cards embedded with computer chips in a bid to prevent counterfeit card fraud. But they are being resisted by the banking industry, which se... More »
NEW YORK Wall Street bankers and traders are likely to get smaller bonuses for 2015 as trading revenue plunges. Goldman Sachs said on Thursday that it set aside 16 percent less money for compensation in the third quarter compared with the same period in 2014. ... More »
NEW YORK The financial sector is expected to be a bright spot for U.S. earnings growth in the third quarter, but options traders are playing it safe by snapping up protection against any surprises. Market volatility tends to rise during earnings season, and wi... More »
BRUSSELS Greece is likely to qualify for recapitalization funds for its banks by a Nov. 15 deadline because the payment depends mainly on financial sector reforms that it can implement by then, euro zone officials said on Friday. The euro zone bailout fund has... More »
HELSINKI Earnings quality at Finland’s banks is at risk of being eroded by a struggling domestic economy and financial market together with low euro zone interest rates, the country’s financial watchdog said on Monday. With borrowing costs at historic lows, th... More »
FRANKFURT, Sept 28 The European Central Bank has found that a number of banks under its watch do not comply with international governance best practices, such as separating the audit and risk functions, an ECB executive board member said on Monday. “Our initia... More »
NEW YORK For U.S. banks’ bond trading desks, the Federal Reserve just made a bad quarter even worse, accentuating a longer-term decline in what was once their most lucrative business, executives, analysts and traders told Reuters. Bond trading volume is likely... More »
ATHENS Turned down for a 10,000 euro ($11,100) loan, George Sarris is one of hundreds of thousands of small business owners shunned by Greek banks. Pointing to the parliament building overlooking his small cafe in Athens’ Syntagma Square, the 35-year-old blame... More »
TORONTO/OTTAWA Canadian banks are expected to begin feeling the impact of an extended downturn in the energy sector as they exercise caution with new and existing loans to companies and individuals. Investors will this week be poring over the balance sheets an... More »
FRANKFURT Between 50 and 60 euro zone banks will be included in next year’s stress test of top EU lenders, fewer than half of the number in the 2014 exercise, a European Central Bank spokeswoman said on Friday. The ECB is the supervisor for top banks in the si... More »
The logo of Spanish bank Santander is seen outside a building in Madrid October 27, 2011. REUTERS/Andrea Comas Across Spain, the message is hard to miss in office windows showcasing offers: banks want to lend to small companies again. More »
