Banking

Bloomberg Citigroup Global Markets says Treasury yields are set to rise, and there’s a way to screen out one of the main risk factors that may push them lower by betting against the yuan. The US brokerage recommends its clients position for higher US rates and also use options to wager against any strength in China’s currency. The rationale is ...

Bloomberg Lloyds Banking Group Plc could buy 50,000 UK homes in the next decade as it looks to become a major player in the country’s rental market. An internal job advertisement seen by the Financial Times for the bank’s newly launched Citra Living unit details ambitions for Lloyds to purchase 10,000 houses by the end of 2025 and 50,000 by ...

Bloomberg European bankers will soon have to show they’re contributing to a cleaner environment, a better society and good governance — or face a smaller pay package. In the latest sign that ESG is reshaping finance, most of the 20 major European banks surveyed by Bloomberg said they were either working on, or already had, a model that links staff ...

Bloomberg Four of the top five Canadian banks are taking a stricter stance with their return-to-office policies, requiring that workers be fully vaccinated against Covid-19 before coming back to company buildings, while the fifth is moving in the same direction. Toronto-Dominion Bank (TD), Canadian Imperial Bank of Commerce (CIBC) and Bank of Montreal joined other major financial firms in requiring ...

Bloomberg Standard Bank Group Ltd is aiming to grow its customer base by at least 10 million across the 20 African countries it operates in over the next four years. Africa’s biggest lender is looking to add more digitally engaged customers, forge alliances with distribution partners and expand its product offering as it plots a recovery from the Covid-19 pandemic. ...

Bloomberg New Zealand’s central bank refrained from raising interest rates during a coronavirus outbreak and nationwide lockdown but left little doubt it intends to start lifting them soon. The Reserve Bank’s Monetary Policy Committee kept the official cash rate (OCR) at 0.25%, but Governor Adrian Orr said the decision was made in light of the lockdown and that policy was ...

Bloomberg The Philippine central bank will stop accepting applications for digital banking licenses from September 1, Governor Benjamin Diokno said. Bangko Sentral ng Pilipinas will close the application window for three years to allow the regulator “to better monitor” the performance of the industry, Diokno said in a briefing. Submissions on or before end-August will be processed on a first-come, ...

Bloomberg Goldman Sachs Group Inc’s Petershill unit, which specialises in buying stakes in alternative asset managers, is considering listing a permanent capital vehicle in London as soon as this year, people familiar with the matter said. Petershill is working with advisers on the potential initial public offering (IPO), the people said, asking not to be identified because the information is ...

Bloomberg Indonesia’s central bank left its benchmark interest rate at a record low to protect the currency, and said it had formulated a plan to deal with eventual US policy tightening. Bank Indonesia kept the seven-day reverse repurchase rate at 3.5%, as expected by all 28 analysts in a Bloomberg survey. Interest rates have been on hold since February’s 25-basis ...

Bloomberg The Chinese central bank’s branch in Shenzhen ordered almost a dozen companies operating in the technology hub to rectify illegal activities related to cryptocurrencies, signalling an intensifying crackdown on digital assets. The People’s Bank of China’s (PBOC) Shenzhen branch started a “rectification project” targeting illegal trading of virtual currencies and “cleaned up” 11 firms allegedly involved in illegal activities ...