Banking

  Bloomberg Sri Lanka kept its benchmark interest rate unchanged for a fourth straight meeting as Asia’s fastest inflation showed signs of cooling while bankrupt economy seeks to turn the corner pending a crucial bailout. The central bank of Sri Lanka held the standing lending facility rate at 15.5% on Wednesday, a move predicted by all five economists in a ...

  Bloomberg BNP Paribas SA’s Frankfurt offices were raided by German prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has swept up Wall Street’s biggest banks. A spokesperson for the bank confirmed the search and said it’s cooperating. A Cologne prosecutors’ spokesman said that the agency raiding a bank in Frankfurt since January 24 without ...

  Bloomberg The Philippine central bank will likely end its monetary tightening with one or two more rate increases this quarter that will bring the key rate to around 6%, according to its governor. “The most likely scenario is that the last increase is the March meeting,” Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said in an interview in his ...

  Bloomberg Debt sales in Europe have broken through €240 billion ($260 billion), beating a previous record for January set in 2020. Offerings from the UK and European Union on Tuesday pushed marketwide sales this month to at least €244 billion, with the final tally set to move even higher once final terms are set on Tuesday’s eight offerings, according ...

Bloomberg The rupiah is enjoying its best performance in more than two years as foreign inflows turbocharge its catch-up with emerging market peers. The Indonesian currency climbed 1.2% against the greenback to 14,895 per dollar on Tuesday, its strongest in four months. It has surged about 4.7% over the last month, Asia’s second-best performer. The return of overseas bond investors ...

  Bloomberg Nigeria’s central bank will allow citizens to swap old naira notes for redesigned bills to boost adoption and circulation of the new currency before the old bills cease to be legal tender at the end of the month. The central bank of Nigeria in October 2022 announced plans to redesign its highest-value banknotes in a bid to mop ...

  Bloomberg The European Central Bank (ECB) wouldn’t object to a dividend payment if Greek banks prove they can fulfill all supervisory demands even under an adverse scenario, said Andrea Enria, head of the ECB’s Supervisory Board. If the banks “are able to remain above all our supervisory tripwires, let’s say, requirements and buffers, including a payment of some distributions, ...

  Bloomberg Binance Holdings Ltd., the world’s largest crypto platform, acknowledged that it mistakenly keeps collateral for some of the tokens it issues in the same wallet as exchange customer funds. Reserves for almost half of the 94 coins that Binance issues, known as Binance-peg tokens or “B-Tokens” are currently stored in a single wallet called “Binance 8” which also ...

  Bloomberg JPMorgan Chase & Co. has received approval from India’s central bank to name Prabdev Singh as the lender’s chief executive officer (CEO) in the country. The Reserve Bank of India (RBI) last week approved a three-year term for Singh, a JPMorgan spokeswoman said in an emailed reply to Bloomberg on Tuesday. An email to the RBI wasn’t answered. Singh ...

  Bloomberg JPMorgan Chase & Co. gained full control of its China mutual fund joint venture, joining rival Manulife Financial Corp. in buying out local partners to secure full ownership of a business in the 26 trillion yuan ($3.8 trillion) market. The China Securities Regulatory Commission (CSRC) approved the US bank’s acquisition of a 49% stake in China International Fund ...