Banking

Bloomberg Bofa Securities Inc. is predicting more gains for the Indian rupee in the near term, joining Citigroup Inc., as the narrowest trade deficit in a year augurs well for the nation’s external finances. “The recent correction in rupee valuation and near-term improvement in current-account and capital flows tilt the risk-reward in favour of rupee appreciation,” Abhay Gupta, a strategist ...

  Bloomberg One of India’s biggest state-backed lenders is willing to consider lending additional money to the beleaguered Adani group including for a project to remodel a slum that is among the world’s largest. Bank of Baroda will extend loans to the conglomerate if it meets the lender’s underwriting standards, said Sanjiv Chadha, chief executive officer and managing director, adding ...

  Bloomberg Deutsche Bank AG’s top supervisors are critical of how the lender handled an internal investigation into mis-selling of derivatives, raising questions about its findings. The European Central Bank (ECB) and German regulator BaFin have told Germany’s largest bank that the probe, known as Project Teal, took too long and wasn’t wide enough in their view, according to people ...

  Bloomberg Bank of Japan (BOJ) watchers are flagging the outside risk that Governor Haruhiko Kuroda may surprise international markets one last time next month with adjustments to smooth the transition process for his nominated successor Kazuo Ueda. The central bank’s yield curve control program already presents a complicated challenge for Ueda. As soon as he takes the BOJ’s helm, ...

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) agreed to pay Cerberus Capital Management LP $770 million to settle a lawsuit with origins in the 2008 financial crisis. The settlement amount is $85 million less than CIBC had set aside in a pretax provision in its fiscal first quarter to cover damages and prejudgment interest after a court ruled against ...

  Bloomberg South Africa’s government and state-owned companies will find it harder to borrow money, while banking and asset-management fees may increase if the country is added to a global watchdog’s list of nations with shortcomings in tackling illicit financial flows. The Financial Action Task Force, which polices compliance with anti-money laundering and terror-financing measures, will decide whether to include ...

  Bloomberg Crypto giant Binance Holdings Ltd is considering ending relationships with US business partners as regulators turn up the heat. The company, which operates the world’s largest crypto exchange, is weighing the retreat after its relationships with a key banking partner and stablecoin issuer ran into trouble amid intense scrutiny from authorities, according to a person familiar with the ...

  Bloomberg China plans to adopt more differentiated risk weighting measures to limit banks’ lending to toxic investments that are exposed to higher default threats, including those to problematic house developers. The China Banking and Insurance Regulatory Commission proposed to align its banking prudential regulations to global standards in a draft amendment, and said it would classify all its commercial ...

Bloomberg One of the European Central Bank’s (ECB) most senior officials said that investors risk underestimating the persistence of inflation, and the response needed to bring it under control. “We are still far away from claiming victory,” Executive Board member Isabel Schnabel said in an interview with Bloomberg, citing the strength of underlying price pressures and faster wage increases. The ...

  Bloomberg Who will lead the People’s Bank of China’s (PBOC) is back in focus as a leadership reshuffle at government agencies and major financial regulators nears. Two officials previously tipped as favourites by analysts are fading out of the picture, with one just starting a new job while the other is reportedly taking on a new role. Central bank ...