Banking

Bloomberg The Federal Reserve is facing calls within its ranks to consider activating an obscure capital buffer meant to bolster big banks against coming storms when economic conditions are sunny. But for now, those pushing to weigh the demand for billions of dollars in new capital haven’t persuaded the key agency staffers who are reviewing the decision, according to people ...

Bloomberg Clients looking for investment advice at the biggest Nordic bank have recently been introduced to a robot. Nora, the robo-adviser that Nordea Bank AB launched last month, has already been asked to start investment processes equivalent to 4 percent of the roughly 500,000 people who get savings advice from the bank each year. Nordea wants to use Nora to ...

Bloomberg Jens Weidmann signalled he’s open to succeeding Mario Draghi as president of the European Central Bank, the Bundesbank chief’s strongest hint so far that he wants the job. “I believe that every member of the Governing Council should have the willingness to contribute to monetary policy also in a different role,” the German told Funke Mediengruppe in an interview. ...

Bloomberg Lloyd Blankfein will probably step down as Goldman Sachs Group Inc.’s chief executive officer in December, the New York Times reported, citing people familiar with the firm’s plans. David M. Solomon, who was named president in March, will take the top spot, the newspaper said. While Blankfein is likely to depart around the time of the bank’s annual dinner ...

Bloomberg Investors are punishing markets where policy makers haven’t done enough to stem deteriorating current-account balances, ballooning inflation and a run on their currencies. They became unforgiving as rising Treasury yields and a stronger dollar put the case for riskier investments in the balance. Money is no longer cheap or plentiful, and low-quality investments burdened by policy baggage are being ...

Bloomberg Emerging-market central banks are going on the defensive. A surging dollar and the highest 10-year US Treasury yields since 2011 are fuelling bets that policy makers in key developing nations from India to Mexico will raise interest rates faster than economists previously anticipated. The turnaround is led by concern that a failure to tighten monetary policy risks the possibility ...

Bloomberg Slower-than-expected UK growth this year won’t stop the Bank of England from at least one interest-rate increase, according to a Bloomberg survey of economists. Output will stutter to 1.4 percent from 1.8 percent in 2017, the median forecast showed, slightly lower than the 1.5 percent previously forecast. Nearly 60 percent of economists see a hike at the August meeting. ...

Bloomberg The Bank of Spain is debating how to handle an in-house study of wealth and income disparities which risks landing the institution in the middle of a political storm, according to two people familiar with the matter. Rather than publish the analysis in its signature annual report, which carries the stamp of the governor and sets out the official ...

Bloomberg JPMorgan Chase & Co. plans to offer sophisticated investments to a much broader clientele. The bank is slashing requirements to participate in certain alternative investments that its asset management arm once offered mainly to institutions or the ultra rich. That will allow it to accommodate more allocations made through registered investment advisers. The new minimum buy-in will be $100,000, ...

Bloomberg A tense scene unfolded inside Deutsche Bank AG’s Manhattan tower just hours before news began leaking that the firm was looking for a new chief executive officer. US regulators on that day in late March gave senior executives a stern warning that remains in effect: Europe’s biggest investment bank, they said, must act more urgently to fix lapses described ...