Banking

Bloomberg Roiled by India’s high-profile corporate defaults, the nation’s lenders are tightening the screws on borrowers with stricter debt covenants and greater enforcement as the battle to curb delinquent loans intensifies. Banks are asking for collateral that may amount to one-and-a-half times the value of the debt on new loans extended and are insisting on contracts that allow loans to ...

Bloomberg Bank of England official Silvana Tenreyro said two more interest-rate increases will probably be needed to get inflation back to target, but Brexit will be the real determinant of where policy goes next. Less than a month after the first rate hike in a decade, Tenreyro’s comments reinforce the view of other Monetary Policy Committee members that the path ...

Bloomberg Colombia’s central bank is following Chile’s example and reducing the frequency of its policy meetings to eight a year, from twelve, to give board members more time to weigh key data. The change follows “best international practices” with the policy meeting months decided in accordance with the publication of important economic statistics, central bank Governor Juan Jose Echavarria told ...

Bloomberg The European Central Bank may be willing to show greater flexibility in how it supports its economy when bond-buying stops. When policy makers extended quantitative easing to at least Septe- mber, they stipulated that money from maturing debt would be reinvested in the same country for as long as the ECB keeps adding to its holdings. In limiting that ...

Bloomberg As Goldman Sachs Group Inc. lends more money to Main Street, one question won’t go away: How many borrowers will pay them back? Goldman’s fledgling online lender Marcus, named after the company’s founder, is targeting consumers at a time when many are bracing for a downturn after eight years of economic expansion. A recent example it gave suggests the ...

Bloomberg While the yuan has been having its best year since 2011 against the dollar, China’s banks continue stocking up on foreign currency in a sign that they are preparing for greater swings in the exchange rate. Depository corporations — a majority of which are lenders — boosted their holdings to 5.39 trillion yuan ($812 billion) in October, up 383 ...

Bloomberg Mozambique’s central bank, whose pension fund owns 80 percent of Moza Banco SA, is considering the sale of a minority stake after it injects further funds in the failed lender, according to four people familiar with the matter. European Central Bank policy maker Benoit Coeure said he expects policy makers to change their guidance on monetary policy next year, ...

Bloomberg Asia’s swelling ranks of mega-wealthy are proving to be a mixed blessing for Morgan Stanley. The firm’s Asian private banking unit has boosted assets under management and revenue this year, according to Vincent Chui, who oversees the business. But because top bankers keep getting poached by family offices set up by the richest people, a plan to increase headcount ...

Bloomberg UK politicians are fighting to get a deal early next year that will ease businesses’ panic about Brexit. For some industries, it’s probably too late. Barring some major breakthrough, global banks will implement their relocation plans early next year to guarantee they’re able to have new offices inside the European Union running by the time the UK exits, people ...

Bloomberg The European Central Bank is likely to make multiple small adjustments to its guidance on monetary policy next year rather than any major change in language as it ends quantitative easing, according to euro-area officials familiar with the thinking of policy makers. Incremental shifts in the wording used to describe the expected path of its policy would make sense ...