Banking

Bloomberg The UK’s largest lenders face tougher capital demands in this year’s stress test, as the Bank of England steps up efforts to avert a repeat of the financial crisis. Banks will be held to a single capital standard that includes their minimum capital requirements as well as any buffers they must have to account for their importance to the ...

Bloomberg Mario Draghi said the European Central Bank will avoid surprising investors with sudden changes to its stimulus plans, stressing that inflation is still too low and US trade policies and a stronger euro are concerns. “Adjustments to our policy will remain predictable, and they will proceed at a measured pace,” the institution’s president said in his opening speech at ...

Bloomberg Traders can add one more reason to sell the Indian rupee. Stung by a $2 billion bank fraud, the Reserve Bank of India banned a key import finance tool, a move that may push up short-term dollar demand. The central bank barred lenders from issuing guarantees in the form of letters of undertaking to overseas banks as it clamped ...

Bloomberg The world’s financial leaders will call on international standard-setting bodies on March 20 for stronger monitoring of crypto-assets and to assess the need for a multilateral response as such assets could at some point threaten financial stability. The call appears in a draft communique prepared for the meeting of finance ministers and central bank governors of the world’s 20 ...

Bloomberg Industrial & Commercial Bank of China (ICBC) Ltd., the world’s biggest lender, has been ordered by the Federal Reserve to bolster its protections against money laundering. The Fed found “significant deficiencies” in safeguards at the Chinese bank’s New York branch, the US regulator said in an enforcement order. The company agreed to submit plans to fix its compliance programs within ...

Bloomberg With so many central banks failing to hit their inflation targets, some are considering changes to the tool kits they use to steer their economies. Norway’s decision to lower its price target is just the latest example, and follows more or less official adjustments in Sweden, Argentina and the euro area. Even in New Zealand, the birthplace of inflation ...

Bloomberg China is giving its central bank the power to write the rules for the financial sector, as part of a swee-ping overhaul aimed at closing regulatory loopholes and curbing risk in the $43 trillion banking and insurance industries. The China Banking Regulatory Commission and the China Insurance Regulatory Commission will be mer-ged in the biggest industry overhaul since 2003. ...

Bloomberg India’s HDFC Bank Ltd., the world’s most-expensive lender, has appointed arrangers including Bank of America Corp, Morgan Stanley and Credit Suisse Group AG for a 155 billion rupee ($2.38 billion) planned share sale, people with knowledge of the matter said. The lender has also appointed JPMorgan Chase & Co., Edelweiss Financial Services Ltd., IIFL Holdings Ltd. and JM Financial ...

Bloomberg Ghana’s Energy Commercial Bank Ltd plans to raise about 330 million cedis ($75 million) through an initial public offering as the lender prepares to meet the regulator’s new threshold for capital requirements. The share sale will start next month, with IC Securities Ltd acting as the transaction adviser for the rights issue, Charles Nixon Yeboah, a spokesman for the ...

Bloomberg Digital currencies are a revolutionary tool that central banks should consider, but they remain far too risky to be used as legal tender any time soon, according to the Bank for International Settlements. The BIS — the club of the world’s largest central banks — said in a report that the new form of money could one day be ...