Banking

Bloomberg People’s Bank of China (PBOC) Governor Zhou Xiaochuan made a fresh call to open up the nation’s financial sector, and warned that reform will become more difficult if the window of opportunity is missed. In an interview with the Chinese financial magazine Caijing, the nation’s longest-serving central bank chief defined a “troika” of three drivers needed to further open ...

Bloomberg Indonesia will investigate whether citizens linked to the transfer of $1.4 billion of Standard Chartered Plc private bank client assets complied with tax amnesty requirements. The country’s Finance Ministry received data on the fund transfer for tax compliance purposes and found it involved 81 private citizens, without any military, police, law enforcement or civil servants involved, Ken Dwijugiasteadi, director-general ...

Bloomberg The pound rose as UK data was seen supporting the case for a November rate increase from the Bank of England (BOE). Sterling’s rally took this week’s gains to around 1 percent, as manufacturing and construction output beat forecasts. The data still showed a mixed picture for the U.K. economy as the nation’s trade deficit increased to the most ...

Bloomberg Chief Executive Officer John Cryan is losing the support of some investors just seven months into Deutsche Bank AG’s latest turnaround plan. Three of the 10 largest stakeholders in the bank, speaking on condition of anonymity, said they want to see a turnaround in the next few quarters, particularly in the trading business, to continue to back the 56-year-old ...

DUBAI / Reuters Warba Bank, a Kuwaiti sharia-compliant lender, is syndicating a $250 million debt facility, its first in the syndicated loan market, sources familiar with the matter said on Tuesday. The financing is Warba’s latest fund-raising exercise after its issue in March of $250 million of Tier 1 sukuk, as the lender seeks to boost its capital ratios and ...

Bloomberg President Donald Trump’s pledges to overhaul taxes, trade, infrastructure and health care may thrill some corporate leaders, but it’s causing many to delay expansions. That’s bad for banks. Lending growth probably decelerated for a fourth straight quarter in the three months ended Sept. 30 across more than a dozen of the biggest US banks, according to Royal Bank of ...

Bloomberg Deutsche Boerse AG’s clearinghouse plans to start a revenue-sharing plan with its biggest members in a bid to lure business from London after Brexit. The Eurex Clearing partnership program will reward its 10 most active participants with a share of revenue, and give board seats at the clearinghouse to the five largest. Deutsche Boerse has already received interest from ...

Bloomberg Ignazio Visco might be just days away from pulling off the second coup of his unexpected tenure at the helm of Italy’s central bank — by staying on. The Bank of Italy governor, selected out of the blue by then-premier Silvio Berlusconi in 2011 after weeks of speculation that hadn’t mentioned him, may be about to benefit from a ...

Bloomberg China’s central bank could adjust monetary policy again in the coming months, in response to changes in the economy or the shifting agendas of top political leaders following the 19th Party Congress, according to Goldman Sachs Group Inc. For hints on how monetary policy will evolve, investors should piece together a range of abstract and irregular signals ranging from ...

Bloomberg HSBC Holdings Plc selected John Flint, head of retail banking and wealth management, to be the new chief executive officer and has asked the Bank of England for permission to make the appointment, the Sunday Times reported, citing people it didn’t identify. The London-based bank’s board approved 49-year-old Flint’s appointment after the arrival of new Chairman Mark Tucker last ...