Search Results for: banks
European Central Banks reports on Euro banknote counterfeiting
February 2nd, 2017
353,000 counterfeit euro banknotes were withdrawn from circulation in the second half of 2016 Around 80% of the counterfeits were €20 and €50 banknotes All euro banknotes can be verified using the “feel, look and tilt” method Euro banknotes ...
7 Major European Banks Form Blockchain Platform ‘Digital Trade Chain’
January 16th, 2017
A group of seven large European banks has signed a memorandum of understanding (MoU) to develop a blockchain-powered cross-border trade finance platform for small and medium-sized companies in Europe. The participating banks are UK-based banking giant HSBC, Dutch institution ...
Italy creates $20 billion fund to back troubled banks
December 24th, 2016
Italy’s government has set up a backstop fund to shore up troubled banks, setting the stage for the rescue of troubled Italian lender Banca Monte dei Paschi di Siena SpA. At a cabinet meeting in the early hours of ...
COMCO fines banks for participating in the EURIBOR cartel
December 21st, 2016
The Competition Commission (COMCO) has closed its investigation against certain banks related to interest rate derivatives in euro with an amicable settlement and imposes total fines of approximately CHF 45.3 million. COMCO reached the conclusion that between September 2005 ...
Banks can continue to rally as rates rise, experts say
December 15th, 2016
Experts believe bank stocks still have a lot to gain, even though the sector has already rallied 21 percent in the last three months. The key sector ETF initially spiked 1 percent after the Federal Reserve announced on Wednesday ...
European shares move towards 11-month high on stronger banks
December 15th, 2016
STOXX Europe 600 index up 0.2 pct Banks advance on Fed’s move, hints Precious metals miners among top fallers European shares rose on Thursday, helped by gains in global banks following the U.S. Federal Reserve’s interest rate hike overnight, ...
Three major Banks fined €485 million for Euribor fix cartel
December 7th, 2016
The European Commission has fined Crédit Agricole, HSBC and JPMorgan Chase, a total of € 485 million for participating in a cartel in euro interest rate derivatives. The banks colluded on euro interest rate derivative pricing elements, and exchanged ...
Singapore imposed millions penalty to foreign banks branches
December 5th, 2016
The Monetary Authority of Singapore (MAS) announced today that it has imposed financial penalties of S$5.2 million and S$2.4 million respectively on Standard Chartered Bank, Singapore Branch (SCB) and Coutts & Co Ltd, Singapore Branch (Coutts) for breaches of ...
Apple Wins Battle With Australia Banks Over Mobile Payments
November 29th, 2016
Apple Inc. won the first round of a battle with Australia’s largest banks, which have been trying to force the tech company to offer them access to its Apple Pay technology that allows smartphones and tablets to communicate with ...
42 Banks Join New Japanese Blockchain Consortium
November 2nd, 2016
42 banks are joining a newly-created Japanese blockchain consortium to enhance the cross-border payment industry. The consortium will focus on research and development, and will cover domestic and foreign exchange services by utilizing blockchain technology. The Japanese blockchain organization ...
