Banking

Bloomberg Poland’s prime minister ordered an investigation into the regulator of the country’s financial industry after a newspaper reported that its chairman made an improper offer to the owner of a troubled bank. The Financial Supervision Authority rejected as “untrue” a report in Gazeta Wyborcza that Marek Chrzanowski suggested to Leszek Czarnecki, the owner of Getin Noble Bank SA, how ...

Bloomberg Danish lawmakers want to find out whether the Estonian unit at the center of a massive money laundering scandal was used for illicit trades before it was bought by Danske Bank A/S more than a decade ago. Danske took over the banking assets of Sampo Oyj in 2007. That purchase, which included a tiny Estonian unit, left Denmark’s biggest ...

Bloomberg The European Central Bank’s vice president warned asset managers that they’ll face tighter scrutiny as regulators try to steer against future financial crises. The ECB has grown increasingly vocal about the risks stemming from a rapid expansion of entities such as investment funds, which are taking on more bank-like tasks such as providing liquidity but which are regulated more ...

Bloomberg Some Chinese banks are struggling to comply with unprecedented regulatory targets for credit to private companies because they aren’t sure who to lend to, a sign that authorities’ urgency to reverse an economic slowdown is muddying policy. The confusion stems from China Banking and Insurance Regulatory Commission chief Guo Shuqing’s statement that at least a third of new loans ...

Bloomberg Steve Ashley, charged with turning around a slump at Nomura Holdings Inc.’s investment bank, faces one of his biggest challenges thousands of miles away from Japan. Britain’s exit from the European Union threatens to create “two centers” for financial products on the continent, Ashley, head of wholesale and global markets at Nomura, said on Monday in an interview with ...

Bloomberg Wells Fargo & Co has fired two community-lending and investment employees in connection with a US probe into the bank’s negotiation and procurement of low-income housing tax credits, according to people familiar with the matter. Rick Davis, a senior vice president, and Bob Klixbull, a vice president, were fired after being suspended earlier this year, the people said. The ...

Bloomberg India’s government is asking the central bank to hand over a part of its surplus reserves and loosen liquidity norms for lenders — demands that are likely to escalate a standoff with the monetary authority that’s fiercely protective of its independence. The matter is pending before the board of the Reserve Bank of India and may be taken up ...

Bloomberg It’s time to start loading up on “cheap” yen. Using options to bet on gains for Japan’s currency is a smart wager for 2019, according to Societe Generale. The yen reached its weakest since early October, before recovering as concern over China’s economy fuelled declines in global equities and eroded risk appetite. The yen traded at 113.85 per dollar ...

Bloomberg China’s biggest banks dragged down the stock market as investors took a dim view of the government’s unprecedented move to tell firms exactly how much they must lend to the country’s struggling private sector. At least a third of new loans should go to non-state companies, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said. Private ...

Bloomberg The man poised to become chairman of Danske Bank A/S is aware that the task ahead is huge. If elected to the post this month, Karsten Dybvad says he and the board will spend the “coming years” trying to “restore confidence in the bank.” The 62-year-old trained economist has been handpicked by Danske’s biggest shareholder, A.P. Moller Holding A/S. ...