Banking

Bloomberg Denmark’s central bank adjusted its toolbox to help it steer money market rates and ultimately the krone, which is pegged to the euro. The bank called the changes “technical” in nature, and “not intended to influence the level of the money market rates or the Danish krone,” according to a statement. The goal is to “ensure more stable money ...

Bloomberg The European Central Bank (ECB) pledged to ramp up buying government debt in coming months in a bid to a contain rising bond yields that threaten to derail the region’s economic recovery. Policy makers expect purchases in the next quarter “to be conducted at a significantly higher pace than during the first months of this year,” according to a ...

Bloomberg At next week’s policy review, the Bank of Japan (BOJ) is considering releasing an analysis of the potential impact of lowering its negative interest rate to show its determination to use this option if needed, according to people familiar with the matter. BOJ officials say the assessment would hint at the likely results of a lower negative rate on ...

Bloomberg Rising yields at India’s latest government bond auction are signalling the central bank may be reluctantly accepting higher borrowing costs amid a global rout. The Reserve Bank of India (RBI) sold some of 10-year debt at 6.22%, compared with about 6% in previous auctions. That’s after a spike in US Treasury yields and oil prices pushed borrowing costs higher ...

Bloomberg Deutsche Bank AG jacked up its investment banking bonus pool by almost half after a blowout year in the markets, a far cry from the lean years when traders called the annual pay announcement the “day of long faces.” A 46% jump in variable compensation for investment bankers, and a 29% increase across all units at Germany’s largest lender, ...

Bloomberg A group of asset managers for Revlon Inc. lenders urged a judge not to extend a freeze on more than $500 million that they accidentally received from Citigroup Inc. while the bank appeals a ruling that they don’t have to return it. Citibank sought the freeze because it’s upset that the lenders received a “lottery-like windfall,” the group said ...

Bloomberg Alta Global, one of Credito Valtellinese SpA’s biggest shareholders, is urging Credit Agricole SA to increase its all cash-offer for the Italian lender, boosting the camp of shareholders pushing back against the current bid. “At the current offer price, Alta Global will not adhere to the bid,” Viatcheslav Pivovarov, the founder and CEO of the investment firm previously called ...

Bloomberg More women than men have left British banks during the pandemic, undermining the sector’s pledges to become more diverse. The number of women at the UK’s five biggest lenders shrink by 3% during 2020, according to data compiled by Bloomberg News, while men saw a decline of about 2.1% as banks pushed ahead with long-planned cost cuts and adapted ...

Bloomberg Toronto-Dominion Bank (TDB) plans to give workers up to eight hours of paid time off for coronavirus vaccinations. Workers will receive as many as four hours of paid time off for the vaccine and as many as four additional hours if a second dose is required, according to a memo from Kenn Lalonde, executive vice president of human resources. ...

Bloomberg Credit Suisse Group AG plans to wind down a $10 billion group of supply chain finance funds linked to financier Lex Greensill that it suspended this week because of valuation concerns. The Swiss bank said it will make the first payments to investors — amounting to approximately 80% of the available cash and cash equivalents — for the Luxembourg-domiciled ...