One of the vivid lessons of the 2007-2009 recession and financial crisis is that in the modern economy, one can’t just think about the financial sector as made up ... Read More
Treasury Committee chairman Andrew Tyrie is to question banks over allegations that they may be under-reporting instances of bank fraud because they don’t want to frighten people. Tyrie made ... Read More
Deutsche Bank AG (DBK)’s examination of how employees handled deals with the world’s oldest lender is preventing Michele Foresti from starting his new job at Bank of America Corp. (BAC), ... Read More
How do you fix a superpower with exploding levels of debt, that has a rapidly aging population, that consumes far more wealth than it produces, and that has scores ... Read More
The World Bank said it plans to cut 500 jobs over the next three years as part of a broad restructuring meant to make it more efficient but that ... Read More
The world’s biggest banks have agreed to change rules that govern the $700 trillion derivatives market, the Financial Times reported. Eighteen banks, ranging from Credit Suisse Group AG (CSGN.VX) ... Read More
Banks and regulators have still not found a way to be sure of stopping traders from manipulating Libor, foreign exchange and other benchmarks, top watchdog Martin Wheatley said yesterday. ... Read More
Since the market collapse of 2008, scrutiny has intensified on the way large banks and securities firms treat their brokerage customers, particularly when it comes to steering them into ... Read More
The U.S. Federal Reserve will accelerate its search for a substitute to the Libor benchmark interest rate to stave off what would be “a horrible mess” if the current ... Read More
Banks are sounding the alarm about a proposed global rule aimed at forcing them to fund themselves more safely, warning that it could have “severe” knock-on effects on short ... Read More
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