Banking

Bloomberg China’s central bank injected liquidity into the financial system for a ninth day in the longest run since December as it sought to meet a surge in seasonal demand for cash. The People’s Bank of China (PBOC) pumped in 100 billion yuan ($15.5 billion) of cash with 14-day reverse repurchase agreements, resulting in a net injection of 40 billion ...

Bloomberg UK consumers have just one year left to spend about $32 billion of paper 20- and 50-pound notes as the Bank of England (BOE) withdraws them from circulation. The notes, which have been superseded by polymer equivalents featuring artist JMW Turner and mathematician Alan Turing, will no longer be accepted in shops after September 30, 2022, the BOE said ...

Bloomberg Thailand’s central bank held its key interest rate unchanged amid optimism that an economic rebound will hold, as Southeast Asia’s second largest economy loosens growth-stifling restrictions and virus cases ease. The Bank of Thailand voted unanimously on Wednesday to hold one-day repurchase rate at a record-low 0.5% for an 11th straight meeting, as predicted by 19 of 22 economists ...

Bloomberg JPMorgan Chase & Co invested in 10 banks with diverse leadership, acquiring stakes with a total value of more than $60 million, and is giving their customers free access to thousands of ATMs as part of its effort to help address the racial wealth gap. The “investments and commitments” JPMorgan has made in minority deposit institutions, known as MDIs, ...

Bloomberg Deutsche Bank AG plans to return 5,000 workers to New York City over the next six months. Many of the returning staff will still have the option of more flexible working arrangements, Christiana Riley, chief executive officer of Deutsche Bank Americas, said in an interview from the Frankfurt-based company’s new US headquarters. “The demise of New York is vastly ...

Bloomberg Bank of Nova Scotia is set to become Canada’s first bank to sell a junior bond known as limited recourse capital notes in a currency other than loonies. Toronto-based Scotiabank is reaching out to US dollar-based investors before deciding to go ahead with the deal. In June, the bank sold LRCNs in the Canadian dollar corporate bond market. Canadian ...

Bloomberg Brazil’s central bank assessed the costs and benefits of bigger interest rate hikes but concluded that its current pace of monetary tightening would be sufficient to bring inflation back to target. The current adjustment has already left interest rates in a restrictive level and uncertainties related to the pandemic justify “accumulating more information about the state of the economy ...

Bloomberg Global monetary policy looks set to stay super easy well into 2022 even as central banks edge closer to dialing back their emergency support in the face of mounting inflation pressures. In the last week, the US Federal Reserve signaled it will start paring its massive bond-buying as soon as November and the Bank of England hinted for the ...

Bloomberg Siam Commercial Bank Pcl will maintain banking staff levels as Thailand’s biggest lender restructures its business spinning off some units into a new company. There will be no job losses at the banking operations, Chief Executive Officer Arthid Nanthawithaya said in Bloomberg Television interview on Monday. Siam Commercial will focus on profitability, fintech investments and other growth opportunities in ...

Bloomberg The Polish Supreme Court’s inability to provide guidance in Swiss franc-mortgage lawsuits gives local banks an opportunity to resolve their multi-billion zloty disputes directly with borrowers, according to the country’s financial markets regulator. The cases against about a dozen of Polish financial institutions, including PKO Bank Polski SA and Commerzbank AG’s unit MBank SA, have surged in recent months ...