Banking

Bloomberg Barclays Plc was the worst performer among 48 banks in Europe’s toughest stress test yet, underscoring the vulnerability of UK lenders to weak growth, credit losses and Brexit. Fellow British lender Lloyds Banking Group Plc didn’t fare much better in the test, with a key measure of financial health falling sharply in the most adverse scenario envisioned by supervisors. ...

Bloomberg One of the European Union’s most loyal members is voicing deep unease at the path Brexit negotiations are on. Denmark, which joined the EU the same year as Britain, is urging Brussels to work much faster to avoid the dysfunction that would ensue in the event of a so-called hard Brexit. A key concern is that the EU still ...

Bloomberg About one in 10 of China’s 4,000 banks received a fail rating in the central bank’s first review of the industry’s risks, highlighting challenges facing the nation’s $45 trillion financial system. Four hundred and twenty firms, all rural financial institutions, were deemed extremely risky after scoring eight or higher out of 10, according to the 2018 China Financial Stability ...

Bloomberg With India’s central bank emerging as the biggest buyer of government debt, some traders are calling time on a rout that’s lasted more than a year and sent benchmark yields soaring to a four-year high. The Reserve Bank of India bought 860 billion rupees ($11.8 billion) of bonds between May and October, and plans to inject 400 billion rupees ...

Bloomberg New Zealand banks have been ordered to take steps to reduce the risk of bad behaviour, including scrapping all incentives linked to sales. In a report on bank culture and conduct released on Monday by the Reserve Bank and the Financial Markets Authority, the regulators said they identified “significant weaknesses in the governance and management of conduct risks” that ...

Bloomberg British and European officials are playing down reports that a Brexit deal has been reached for banks that would provide access to the single market after the UK leaves the bloc. The pound pared gains. The European Union’s chief Brexit negotiator Michel Barnier said in a tweet that the bloc was “ready” to have “close regulatory dialogue” with the ...

Bloomberg If they really want to steer clear of geopolitical flare-ups, investors should set up bigger positions in the dollar and volatility indexes — and abandon favorite hideaways in the yen and gold, according to JPMorgan Chase & Co. Assets long thought to be havens don’t necessarily hold up as the safest stores of value amid newer threats shaking markets ...

Bloomberg Barclays Plc saw its key measure of financial health sink to the lowest level among 48 banks in a European stress test, which gauged how well lenders could withstand heavy credit losses and other Brexit-related fallout. Barclays’s fully loaded common equity Tier 1 ratio, a measure of its highest-quality capital, shrank to 6.37 percent in a so-called adverse scenario. ...

Bloomberg ING Group NV put a run of bad news behind it, with a third quarter profit that beat estimates and progress towards its cost targets. The shares jumped the most in 18 months. While net income plunged because of a 775 million-euro ($879 million) settlement for failing to monitor and prevent money laundering, the hit was less severe than ...

Bloomberg Credit Suisse Group AG’s turnaround is running out of steam just as the bank enters the final stretch of its overhaul. Revenue and net income missed estimates in the third quarter, and the Global Markets business — one of the most difficult challenges of Chief Executive Officer Tidjane Thiam’s three-year tenure — posted an unexpected loss. The bank is ...