Banking

Bloomberg Credit Suisse Group AG is betting that the leveraged loan market can continue its explosive growth over recent years, as buyout firms sitting on unprecedented levels of capital look to maximise their firepower over the next few years. “There is over a trillion dollars of capital committed to private equity firms that has yet to be deployed,” David Miller, ...

Bloomberg Former Bank of England (BoE) policy maker Andrew Sentance said the UK shouldn’t look overseas for the institution’s next governor, criticising incumbent Mark Carney for not knowing enough about Britain. Sentance, a member of the Monetary Policy Committee from 2006 to 2011, told the Press Association that Carney’s “lack of confidence with raising interest rates has been due to ...

Bloomberg Don’t declare the end of easy money just yet. Major central banks took significant steps last week towards dismantling the emergency stimulus they’d used to lubricate financial markets and escape recession in the decade since the financial crisis. But most are clear that they’re not ready to get out of the business of supporting their economies. After raising interest ...

Bloomberg The gap between the Bank of Japan and its global peers widened. The BOJ maintained its aggressive asset-purchase and yield-curve targets less than 24 hours after the European Central Bank mapped out an exit from its crisis-era policies, and just days after the US Federal Reserve again raised interest rates. Underscoring the divide, the BOJ downgraded its assessment of ...

Bloomberg Russia extended its pause in monetary easing as the central bank struck a surprise hawkish tone and warned that it’s slowing a shift to looser policy because of fiscal plans unveiled by the government. Policy makers in Moscow kept their key interest rate at 7.25 percent, according to a statement. The central bank said the balance of risks has ...

Bloomberg Citigroup Inc. agreed to pay a combined $100 million to 42 US states to resolve a probe into fraudulent conduct tied to interest-rate manipulation that affected financial instruments worth trillions of dollars. The settlement was announced by several of the states, who alleged Citigroup misrepresented the integrity of the Libor benchmark to state and local governments, not-for-profit organisations and ...

Bloomberg BNP Paribas SA plans a major hiring spree in German wealth management, seeking to become a leader in one of Europe’s biggest markets. The Paris-based lender wants to add as many as 150 staff to its private-banking operations across German cities over the next three years, according to Vincent Lecomte, co-head of the bank’s wealth-management business. That will about ...

Bloomberg Kenya plans to repeal a law that caps commercial interest rates, after it crimped lending by banks in East Africa’s biggest economy, Treasury Secretary Henry Rotich said. The surprise proposal to repeal section 33B of the Banking Amendment Act will be welcomed by Kenyan banks that have complained the 400 basis-point ceiling on the cost of loans nullified their ...

Bloomberg US equities edged higher ahead of Wednesday’s Federal Reserve rate decision, while European stocks gained. The dollar slipped as benchmark Treasury yields held steady, and emerging-market currencies extended a drop. The S&P 500 Index rose tentatively in morning trading, with a surge in health-care stocks offsetting the telecom weakness brought on after the AT&T takeover of Time Warner won ...

Bloomberg Inflation picked up in India for a second straight month, giving ammunition to the central bank to further tighten monetary policy and squeezing returns for bond investors. Consumer prices rose 4.87 percent in May from a year earlier, the statistics ministry said in a statement in New Delhi. That was broadly in line with the 4.9 percent median estimate ...