Banking

Bloomberg Yes Bank Ltd has picked Cantor Fitzgerald LP, IDFC Securities Ltd and Ambit Pvt to help the Indian lender raise as much as $2 billion for bolstering capital buffers, people with knowledge of the matter said. Yes Bank, staggering under the weight of soured loans, has been plagued by worries about its asset quality and uncertainty about efforts to ...

Bloomberg Central banks in Asia face increasing calls to cut interest rates as they jump into action against a spiralling coronavirus crisis that’s hammering tourism, travel and confidence across the region. The People’s Bank of China (PBOC) trimmed some interest rates and injected massive liquidity into the financial system to shore up slumping markets. Indonesia’s central bank said it was ...

Bloomberg The European Central Bank (ECB) needs an “understandable, forward-looking and realistic” inflation goal — but not necessarily a higher one, according to Bundesbank President Jens Weidmann. The German staked out his position on the most important part of the ECB’s strategy review for the first time since President Christine Lagarde launched the assessment last month. She was in the ...

Bloomberg Credit Suisse Group AG scrapped its annual Asia investment conference next month as the spread of the deadly coronavirus shows no sign of abating. The Zurich-based lender informed investors on Tuesday it will cancel the conference in Hong Kong, its biggest in the region. “In view of the continued health and safety risks caused by the coronavirus, we have ...

Bloomberg Citigroup Inc suspended its head of high-yield credit trading for Europe, the Middle East and Africa after he allegedly stole from the company’s cafeteria, according to a person familiar with the matter. Paras Shah, one of the bank’s highest-profile traders, left Citigroup last month over the issue, the person said, asking not to be named because the matter is ...

Bloomberg Bank of Japan Governor (BOJ) Haruhiko Kuroda signalled growing concern over coronavirus, now saying the bank won’t hesitate to take action to cope with the virus’s economic impact if it becomes necessary. Kuroda’s remarks in Japan’s parliament contrasted with comments last month when he said it was too early to assume the latest viral outbreak would pose as big ...

Bloomberg Visa Inc is planning the biggest changes in a decade to the rates US merchants pay to accept its cards, hoping to persuade more people to abandon checks and adjusting its fees for new businesses such as ride-hailing services. The company’s interchange rates — fees charged every time a consumer uses a card — will go up or down ...

Bloomberg The UK Treasury shortlisted two women and seven men to replace Mark Carney as governor of the Bank of England (BOE). Of the 23 applicants for the post, 21 were male, and both of the female candidates went through to the interview round, Chancellor Sajid Javid said in a December letter to Parliament’s Treasury Committee which was published on ...

Bloomberg China’s central bank took its first concrete steps to cushion the economy and plunging markets from the blow of a spreading new virus, providing short-term funding to banks and cutting the interest rate it charges for the money. The People’s Bank of China (PBOC) added a net 150 billion yuan ($21.4 billion) of funds on Monday using 7-day and ...

Bloomberg Indonesia’s central bank is taking “bold” steps to guard the nation’s currency and bonds as mounting concerns about the economic impact of the novel coronavirus epidemic trigger a selloff by foreign investors. Bank Indonesia is intervening in the bond, currency and non-deliverable forwards markets to protect the rupiah, Nanang Hendarsah, the central bank’s executive director for monetary management, said ...