Banking

Bloomberg Bank of England Governor Mark Carney warned against the “weaponisation” assets in the global financial system as central bank chiefs fretted about the impact of a trade war. Speaking at the Group of 30 conference in Bali, Indonesia on Sunday, Carney stressed the need for investment flows to remain open, alluding to previous warnings that US protectionism affects the ...

Bloomberg When interest rates tick higher, consumers carrying too much debt start to default. It’s the natural assumption, but Americans keep meeting their obligations. Three of the largest US banks — JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. — announced that their costs for bad loans are falling. The same strong economy pushing the Federal Reserve ...

Bloomberg US President Donald Trump is not alone in blaming the Federal Reserve for this week’s tumble in stocks, as many investors attribute the ebbing of easy money for spurring an outbreak of market turmoil. With Bloomberg Economics declaring October as the month the world’s major central banks together start running down their bond holdings, the withdrawal of liquidity is ...

Bloomberg Thailand’s economy is solid enough to handle an interest-rate increase and expectations of tightening this quarter are already partially reflected in the strength of the baht, according to the central bank. A quarter-point hike, or even a climb of 50 basis points, would have “some, but not much” impact on consumer and corporate borrowing, Bank of Thailand Senior Director ...

Bloomberg Egypt struck a deal to get $3.8 billion in new financing from an international consortium that includes Deutsche Bank AG and HSBC Bank Plc to boost its foreign-currency stockpile at a time when an emerging-market selloff is spooking investors. The accord replaces a one-year, $3.1 billion agreement that will expire next month, and aims at “extending the duration” of ...

Bloomberg If the Bank of Japan’s “stealth tapering” of its asset purchase program were to continue at the current pace, it would need to revise its monetary easing policy within the next two years, according to Goldman Sachs Group Inc. By the end of 2019, the pace of growth of the central bank’s bond purchases is on track to fall ...

Bloomberg A probe into the failure of VBS Mutual Bank found that at least 53 people and companies may have benefited from the looting of 1.9 billion rand ($130 million) from the South African lender before its collapse. Investigator Terry Motau, who was appointed by the central bank to lead the inquiry, is calling for arrests to be made and ...

Bloomberg President Donald Trump said the Federal Reserve is moving too fast with interest-rate increases and dismissed concerns about inflation, exte- nding his run of criticism that central bankers have largely disregarded as they push ahead with higher borrowing costs. “I don’t like it,” Trump said at the White House, referring to the Fed’s rate hikes, the most recent of ...

Bloomberg JPMorgan Chase & Co. won a decisive ruling at France’s top court in its bid to strike down an indictment that ordered the bank to stand trial for helping clients commit tax fraud more than a decade ago. France’s Cour de Cassation ruled last month that a lower court should have thrown out the 2016 indictment after finding that ...

Bloomberg HSBC Holdings Plc will pay $765 million to settle allegations that it sold defective residential mortgage-backed secur- ities, resolving one of the last remaining US investigations stemming from the mortgage melt- down a decade ago. The sum, announced by US Attorney Bob Troyer in Colorado, is substantially lower than the billions paid by other banks to resolve misconduct linked ...