Banking

  Bloomberg Deutsche Bank AG confirmed it faces a higher capital requirement as its main regulator pushes lenders to dial back the risks they face in the lucrative business of leveraged finance. The German lender must hold common equity Tier 1 capital equivalent to 10.55% of its risk-weighted assets this year, up from 10.43% at the end of September, it ...

  Bloomberg European Central Bank (ECB) Governing Council member Joachim Nagel said additional measures are needed to curb rising expectations of future prices and return inflation to the 2% goal. “Our monthly surveys of firms and households are showing a significant increase in long-term inflation expectations,” Nagel said in an interview with the Zeitschrift für das gesamte Kreditwesen. The ECB ...

  Bloomberg The Bank of Japan (BOJ) announced two additional rounds of unscheduled bond-purchase operations, fighting back against traders betting it will further relax its yield-curve control policy. The central bank offered to buy unlimited amounts of two- and five-year notes at a fixed yield, along with 600 billion yen ($4.5 billion) of one-to-10 year bonds. That was on top ...

  Bloomberg Goldman Sachs Group Inc is working on a fresh round of job cuts that will be unveiled in a matter of weeks, Chief Executive Officer David Solomon said in his traditional year-end message to staff. “We are conducting a careful review and while discussions are still ongoing, we anticipate our headcount reduction will take place in the first ...

  Bloomberg Multiple stress points are emerging in credit markets after years of excess, from banks stuck with piles of buyout debt, a pension blow-up in the UK and real-estate troubles in China and South Korea. With cheap money becoming a thing of the past, those may just be the start. Distressed debt in the US alone jumped more than ...

  Bloomberg An Argentine economist drafting recommendations for a more business-friendly government that could emerge from 2023 elections has a message for foreign investors eyeing potential regime change. “We’re not interested in hot money in Argentina,” Carlos Melconian, head of think tank Ieral, said. “Capital inflows that create quick profits and get confounded with the element of confidence don’t interest ...

  Bloomberg A sharp slump in the kwacha that’s placing upward pressure on inflation may prompt monetary policymakers to raise interest rates for the first time in more than a year when they meet in early 2023. Consumer prices rose an annual 9.9% this month, compared with 9.8% in November, interim Statistician-General Mulenga Musepa told reporters in the capital, Lusaka. ...

  Bloomberg The asset management arm of BNP Paribas SA said using a different interpretation of “sustainable investment” than some of its peers has allowed it to keep the European Union’s top ESG tag attached to about $20 billion worth of funds. Firms including BlackRock Inc, Amundi SA and Axa Investment Managers have reclassified more than $140 billion of so-called ...

Bloomberg Japan will make it easier for cryptocurrency exchanges to list tokens, pressing ahead with plans to liberalise the industry even after the epic failure of Sam Bankman-Fried’s digital empire. The body that governs crypto exchanges informed member companies of the new rule which takes effect immediately, enabling them to list coins without going through a lengthy pre-screening unless the ...

Bloomberg Malick Diop felt something shifting on Wall Street. He’d joined Morgan Stanley in the grim days of 2009, when big banks were trying to pay back taxpayer bailouts and deflect public fury. But four years later, the ire was fading and ambition was the order of the day. “It really felt like, for the first time, the job and ...