Banking

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda said stable inflation was needed to trigger policy change at the central bank not yen weakness, in remarks that appeared aimed at cooling speculation of possible stimulus tweaks driven by the sliding currency and signs of heating prices. Speaking in parliament after the yen breached the 122 mark against the dollar ...

Bloomberg JPMorgan Chase & Co. said it will do a third-party audit of its $30 billion racial-equity commitment, following Citigroup Inc and BlackRock Inc in agreeing to such a review. The biggest US bank will hire a third party to perform the audit and publish a report on the results by the end of this year, according to a statement. ...

  Bloomberg Canada’s 10-year yield rises to the highest since 2018 as a top Bank of Canada official said household finances are in good shape and that monetary policymakers are prepared to “act forcefully” to quell inflation. Deputy Governor Sharon Kozicki reiterated the central bank’s “unwavering commitment” to wrestle inflation back to the 2% target and said more aggressive action ...

  Bloomberg Credit Suisse Group AG shareholders are pushing to exclude a vote at its annual general meeting that would let the directors and the executives off the hook for legal responsibility over the Greensill Capital scandal, the Financial Times has reported, citing people with knowledge of the discussions. Investors have expressed concerns to new chairman Axel Lehmann about the ...

  Bloomberg UBS Group AG will allow some of its US employees to work remotely full-time, offering flexibility to staff as it seeks to lure and retain talent. The Swiss bank expects about 10% of its workers in the US to go remote as the program is implemented in phases, starting at the wealth unit, Tom Naratil, president of UBS ...

  Bloomberg Barclays Plc plans to step up its financing of renewable energy as Russia’s war on Ukraine adds to the urgency of moving away from fossil fuels. “The appalling invasion of Ukraine has made it even more imperative to accelerate the energy transition,” Barclays Chairman Nigel Higgins said. Barclays expects that recent events will boost “demand for investment in ...

  Bloomberg Banco de Sabadell SA is pulling out of a credit facility for Trafigura Group, highlighting the growing nervousness about the commodity trading sector as soaring prices create a liquidity squeeze. While the Spanish bank is just one out of more than 100 institutions that fund Trafigura and is not a major lender to the trading house, its move ...

  Bloomberg Thailand’s banking system remains resilient with high levels of capital buffer to withstand future risks and uncertainties, the nation’s central bank said, a day after S&P Global Ratings downgraded the top lenders citing increased systemic risks. The capital adequacy ratio of Thai banking system stands at 20% and lenders have increased provisioning against bad loans by $12.8 billion ...

  Bloomberg Hungary resumed raising the effective interest rate after the central bank said that the war in neighbouring Ukraine will lead to a sharply deteriorating inflation outlook. The 30 basis-point increase brought the one-week deposit rate to 6.15%, matching the median estimate in a Bloomberg survey. But it disappointed currency traders after policy makers spoke of the need of ...

Bloomberg Switzerland’s central bank refrained from sounding the alarm about the exchange rate despite the first breach of parity with the euro since 2015, as it warned that the war in Ukraine could hurt economic growth. Reflecting a restrained reaction to gains in the currency since the Russian invasion of Ukraine, the Swiss National Bank (SNB) stuck with its description ...