Banking

Bloomberg Hungary’s central bank is about to take its $2.5 billion asset-purchase program to the next level as it prepares to buy the bonds of a company owned by one of its entities. The debt sale under the central bank’s plan, flagged in a corporate filing, may further blur what’s become a hazy boundary on what central banks around the ...

Bloomberg Thailand relaxed rules on capital outflows and will increase scrutiny of fund flows into bonds to help cool a currency rally that threatens its economic recovery from the pandemic. The Bank of Thailand (BOT) moved forward measures that were supposed to begin early next year, most of which will now take effect from end-November. The rules will make it ...

Bloomberg Nomura Holdings Inc plans to introduce flexible work on a permanent basis for its overseas staff, the latest global financial firm to consider such a move as the pandemic reshapes office life. While the planning is at an early stage, Nomura sees both an “appetite and ability to support an operating model in which 50% of our corporate workforce ...

Bloomberg Indonesia’s central bank cut its policy rate for the first time in four months, urging banks to lend more to help drive an economic recovery. Bank Indonesia cut its seven-day reverse repurchase rate by 25 basis points to 3.75%, the lowest since the benchmark was introduced in 2016, as predicted by 11 of 26 economists surveyed by Bloomberg. “I ...

Bloomberg China’s central bank remains on course to taper its emergency support even as a string of defaults by government-linked companies sends tremors through the credit markets. Officials have been preparing investors about the possibility of withdrawing some of that stimulus as the economic recovery picks up pace. While a surge in market interest rates following the defaults appears to ...

Bloomberg Absa Group Ltd said it’s unlikely to pay an ordinary dividend this year as the South African bank conserves cash to deal with the economic fallout from the coronavirus pandemic. Earnings before one-time items and accounting adjustments will probably decline more than 40% from a year earlier, Johannesburg-based Absa said. It’s withholding payouts despite having strong buffers and forecasting ...

Bloomberg Banco Santander SA plans to cut as many as 4,000 jobs in Spain, adding to a global wave of staff reductions across the financial industry. The lender told union leaders it will lay off as much as 13% of its Spanish workforce and close as many as 1,000 branches after the pandemic boosted a switch by customers to digital ...

Bloomberg Baoshang Bank, which was taken over by Chinese authorities last year, plans to fully write off a subordinated capital bond after it was deemed a non-viable entity by regulators. The People’s Bank of China and China Banking and Insurance Regulatory Commission determined that a “non-viability trigger event” had taken place at the lender, Baoshang Bank said in a company ...

Bloomberg Goldman Sachs Group Inc elevated its smallest class of new partners in more than two decades. The firm picked 60 employees in its biennial promotions that serve as a nod to the bank’s history as the last major private firm on Wall Street. That’s the fewest since 1998, a year before it went public, and almost half the number ...

Bloomberg Mexico’s central bank wants to better evaluate the recent increase in the country’s inflation rate before considering a further reduction to its benchmark interest rate, Governor Alejandro Diaz de Leon said. Banxico, as the central bank is known, surprised markets by pausing a record monetary easing cycle that has lent one of the few supports to an economy expected ...