Banking

Bloomberg China’s smaller banks started the New Year with a double whammy from regulators and investors, and more pain may be looming. Bank of Tianjin Co. tumbled by as much as 12 percent in the first two trading days, the biggest two-day decline since its Hong Kong listing in March 2016, after rallying at the end of last year. Bank ...

Bloomberg China’s central bank will make modest increases in money-market rates in 2018 as it aims to keep up the pressure on deleveraging and prevent too much divergence with US policy, according to a Bloomberg survey. The People’s Bank of China is seen raising interest rates on reverse-repurchase agreements by five basis points three times this year, starting in the ...

Bloomberg After seven years of preparation, $2 billion in compliance costs and one false start, the biggest shake-up to European regulation in a decade is finally here. With so much at stake, investors are likely to sit on their hands for now. Trading volumes slumped ahead of the changes, according to two brokers with knowledge of the matter, with client ...

Bloomberg It may be the trickiest job to fill in central banking. And as the Federal Reserve Bank of New York search committee casts a wide net to find a replacement for its outgoing president, William Dudley, the wish list is getting long. Interviews with 10 members of the Fed’s advisory boards, which the committee is consulting, suggest they want ...

Bloomberg European bonds slipped on the first day of 2018 trading, led by longer-dated securities after European Central Bank policy maker Benoit Coeure said its current extension of stimulus may be the last. German 30-year bunds led the drop in the euro-area’s debt, followed by the Netherlands and France, while UK gilts also slid. Coeure said that given the region’s ...

Bloomberg While volatility in many financial markets has been rising over recent weeks, one notoriously unpredictable currency has been dead in the water. The trading range for Indonesia’s rupiah shrank to the least in two decades last year and volatility all but vanished as the central bank made maintaining the currency’s stability its chief mission. All this in a year ...

Bloomberg An ex-UBS Group AG trader banned from the finance industry over allegations that he manipulated Libor rates told a London court that his actions were “mandated” and “sanctioned” by the bank. Arif Hussein, a former head of UBS’s sterling rates desk, is challenging a decision by the Financial Conduct Authority to ban him at a London court hearing on ...

Bloomberg For bond investors, Africa was a happy hunting ground last year. Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover from the commodity bust of three years ago. But risks abound, among them policy tightening in advanced economies, local and global politics, weakening ...

Bloomberg A provision in the new tax law, intended to prevent American companies from shifting profits abroad to benefit from a lower overseas rate, might also hit the largest foreign banks with significant US operations. Under the Base Erosion and Anti-Abuse Tax, commonly called BEAT, payments made by US businesses to related companies abroad must be counted when calculating global ...

Bloomberg The last day of a bitter year for China’s non-bank borrowers proved to be especially painful: they’re now paying a record premium for short-term funds. As interbank lending rates climbed due to banks hoar-ding cash for year-end regulatory checks, the increase was especially significant for non-bank financial institutions, such as securities and insurance companies. A measure of what they’re ...