Banking

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 ...

Bloomberg India’s banks need to raise funds from markets for their growth rather than depend on the government for recapitalisation, Finance Minister Nirmala Sitharaman said. “Banks are today less burdened because books are cleaner,” Sitharaman said at the annual general meeting of the Indian Banks’ Association. “As a result they will able to go and raise money from markets. I ...

Bloomberg The biggest US banks appear to be sidestepping any fallout from the crisis at indebted developer China Evergrande Group that sparked a widespread selloff in stocks this week. Citigroup Inc has no direct lending exposure to Evergrande, a spokeswoman said. JPMorgan Chase & Co and Bank of America Corp also have no such links. Bank of America has no ...

Bloomberg Pressure is building for the municipal-bond market after a selloff in US Treasuries this week, according to Barclays Plc. Rates market volatility is one of the challenges facing state and local debt performance in the near-term, according to a September 24 note by strategists Mikhail Foux, Clare Pickering and Mayur Patel. Municipal bonds have posted losses this week but ...

Bloomberg The Italian government and UniCredit SpA are making progress in talks on a deal for the takeover of troubled lender Banca Monte dei Paschi di Siena SpA and could sign a preliminary accord by the end of the year. The Rome-based Finance Ministry is working to meet UniCredit’s demands in a deal that may cost the state more than ...