Banking

  Bloomberg Deutsche Bank AG’s control lapses keep haunting Christian Sewing. The Chief Executive Officer of Germany’s largest lender has spent his almost four years in the role trying to mend relations with regulators and restore a path to sustainable profitability. While he’s made progress on the latter, a slew of recent legal and regulatory headaches threaten to overshadow those ...

  Bloomberg The Federal Reserve, in a review of the massive losses banks incurred in the collapse of Archegos Capital Management, told lenders they must maintain sufficient margin when dealing with investment funds and are responsible for understanding their positions. The regulator is still reviewing specific firms’ weaknesses and may take further action, the Fed said in a letter to ...

  Bloomberg China’s central bank took further steps to limit the yuan’s strength, a day after policy makers made their most substantial move yet to rein in the currency’s surge against the dollar. The People’s Bank of China (PBOC) set its daily yuan fixing at the weakest relative to estimates since Bloomberg began publishing the forecasts in 2018. The fixing ...

Bloomberg JPMorgan Chase & Co. expects Asian companies to raise as much as $100 billion next year through environmental, social and governance (ESG) dollar-denominated bonds, with an increasing number of firms considering notes that can be converted into equity. ESG debt sales by Asian issuers total $74 billion so far in 2021, nearly triple the level in the same period ...

Bloomberg Hong Kong’s underperforming stocks will likely rebound in 2022, with a border reopening with mainland China to benefit gaming and retail shares while rising yields hold banks up, according to UBS Group AG. The city’s benchmark Hang Seng Index may gain as much as 13% next year, analysts led by Angus Chan wrote in a note, targeting a level ...

Bloomberg China’s central bank has signalled a limit to its tolerance for the yuan’s recent advance by setting its reference rate at a weaker-than-expected level. The gap between the daily fixing set by the People’s Bank of China (PBOC) and the forecast in a Bloomberg survey of analysts and traders was the largest since mid-October. That was when yuan gains ...

Bloomberg Nu Holdings Ltd, the Brazilian digital bank whose backers include Warren Buffett’s Berkshire Hathaway Inc, raised $2.6 billion in a US initial public offering priced at the top of a marketed range it had earlier lowered. The company, which does business as Nubank, sold 289 million shares for $9 each after offering them for $8 to $9, according to ...

Bloomberg Peru raised interest rates for a fifth straight month as the economy grows at the fastest pace in Latin America and inflation exceeds the upper limit of its target range. The central bank lifted its key interest rate by half a percentage point to 2.5%, in line with forecasts by all nine economists from Bloomberg. The move unwound all ...

Bloomberg Barclays Plc plans to make key hires in investment banking and wealth management across Asia next year as British lender plots its return to some of the world’s fastest growing economies after a 2016 restructuring. The bank — which is benefiting from a boom in deals and trading along with its Wall Street rivals — is seeking to rebuild ...

Bloomberg China cut the amount of cash most banks must hold in reserve, acting to counter the economic slowdown in a move that puts the central bank on a different policy path than many of its peers. The People’s Bank of China will reduce the reserve requirement ratio by 0.5 percentage point for most banks on December 15, releasing 1.2 ...