Banking

  Bloomberg C6 Bank, the Brazilian digital lender backed by JPMorgan Chase & Co, is planning to double its loan portfolio to midsize firms as it diversifies beyond retail clients. By the end of next year, C6 hopes to increase its loan book to such companies to more than 3.5 billion reais ($675 million) from about 1.8 billion reais now, ...

Bloomberg Brazilian President Jair Bolsonaro signed into law the country’s first framework for cryptocurrency, with ground rules for brokerages that offer crypto as well as the assets’ day-to-day use. Though a formal designation is needed, the central bank is likely to be responsible for regulating and overseeing the new structure, according to the bill’s rapporteurs — the lawmakers who make ...

  Bloomberg Japan’s biggest bank sees value in further share buybacks as its $7.5 billion deal to sell a US regional lender adds to a growing cash pile. “We are always looking for growth investment opportunities,” Hironori Kamezawa, chief executive officer of Mitsubishi UFJ Financial Group Inc, said in an interview, adding that the lender will consider acquisitions in Asia ...

  Bloomberg Credit Suisse Group AG has filed a criminal complaint against a Zurich financial blog, ratcheting up a legal attack begun over readers’ comments attached to a series of stories it ran about the Swiss bank earlier this year. The complaint, which the blog Inside Paradeplatz confirmed, follows a 265-page civil lawsuit filed over comments that the bank said ...

  Bloomberg Nigeria’s currency is poised for its eighth straight day of losses and on track for its longest losing streak since 2020, less than two months before a presidential election. The naira traded at 453.16 to the dollar in the spot market. The currency has dropped 6.3% this year in the official market, where the rate is tightly controlled ...

  Bloomberg Global private banks are rushing to hire advisers for India’s rich, as China’s slowdown and a gloomier global outlook turn the nation into a bright spot for wealth management. UBS Group AG, Deutsche Bank AG, and Julius Baer Group Ltd are among firms hiring private bankers to serve clients from the world’s fifth-biggest economy, which has an estimated ...

  Bloomberg The Bank of Japan (BOJ) responded to market pressure this week by unexpectedly increasing its band for the 10-year bond yield. The new ceiling is already coming under threat. The benchmark yield jumped to as high as 0.48%, the day after the BOJ doubled the top of its allowable range to 0.5%. Similar-maturity swap rates have increased to ...

  Bloomberg Nigeria is seeking lawmakers’ approval to take on an additional loan from the central bank that would increase the government’s obligation to $52 billion, putting further pressure on public finances. The administration also asked that senators allow for the restructuring of the so-called ways and means borrowing from the Central Bank of Nigeria, converting the debt to 40-year ...

  Bloomberg Indonesia’s central bank slowed the pace of its monetary tightening, in a move seen to support growth as inflationary pressures ease. Bank Indonesia (BI) opted to raise the key rate by a quarter-point to 5.5%, marking a shift to “more measured” moves after three successive half-point actions to tame inflation. As the outlook for the global economy deteriorates ...

Bloomberg European Central Bank (ECB) Vice President Luis de Guindos said interest-rate hikes like half-point move seen at this month’s meeting may become the standard as officials maintain their fight with soaring inflation. Despite forecasts for a winter recession in the 19-nation euro zone, monetary-policy tightening must continue, Guindos told France’s Le Monde in an interview published on the ECB’s ...