Banking

Bloomberg Irish banks are set to face mounting pressure from regulators to write off bad loans, a person familiar with the matter said. European authorities that now oversee the biggest Irish lenders have consistently pushed bankers to deal with the legacy of non-performing assets left over from the nation’s financial crash through measures such as loan sales. Regulators are beginning ...

Bloomberg Bitcoin needs “Downtown” Josh Brown more than he needs bitcoin. Brown, the chief executive officer of Ritholtz Wealth Management and author of a popular finance blog, has long been skeptical of the digital currency. He finally bought some, he said, “because the goddamn thing won’t go away.” Still, Brown, who helps manage half a billion dollars, isn’t really a ...

Bloomberg Denmark’s five biggest banks face as much as $15 billion in new capital requirements under proposed changes to global banking rules, according to an expert panel created by the government. Danske Bank A/S the country’s biggest financial group, and others will together see their capital requirements rise 27-39 percent, equivalent to 64-92 billion kroner ($15 billion), the panel said. ...

Bloomberg A pushback against the populist movements that have threatened to destabilise the European Union will help bolster the euro for years, according to Andrew Sheets, chief cross-asset strategist at Morgan Stanley. The US investment bank raised its forecasts for the shared currency on Thursday, projecting it would reach $1.25 early next year, and trade one-for-one against the pound for ...

Bloomberg A handful of Democratic lawmakers have renewed their effort to get a powerful House Republican to investigate Deutsche Bank AG’s loans to President Donald Trump and the bank’s role in helping Russians move billions of dollars from Moscow to the West. In a letter to Jeb Hensarling of Texas, chairman of the House Financial Services Committee, Representative Maxine Waters ...

Bloomberg China’s central bank said it will step up coordinated oversight of systemically important financial institutions, another step toward defusing risk before a gathering of the country’s top leaders later this year. The People’s Bank of China also said it will limit the flow of credit to speculative housing purchases and monitor how global markets are affecting funding in the ...

Bloomberg The Bank of England will strengthen its conflict-of-interest checks as part of its response to the controversy surrounding the resignation of former Deputy Governor Charlotte Hogg after just weeks in the role. Clarity about conflict-approval processes will be improved after a review found ambiguities in BOE policies as well as shortcomings in its systems that heightened the risk of ...

Bloomberg UBS Group AG has brought David Chin out of retirement to run its investment bank in Asia, as it seeks to stem a wave of defections of China-focused bankers. Chin will become UBS’s head of corporate client solutions for the Asia-Pacific region, replacing Sam Kendall, who will relocate to New York as head of global equity capital markets, according ...

DUBAI / Reuters HSBC is planning to add staff to its Saudi Arabian operations as the kingdom embarks on one of the biggest economic transformations attempted by any country, the bank’s regional chief Georges Elhedery told Reuters. Opportunities for investment banks have increased tremendously due to Vision 2030, the reform programme launched by Crown Prince Mohammed bin Salman to diversify ...

Bloomberg A decade ago, the European Central Bank took its first step to becoming the euro area’s firefighter-in-chief. Its $112 billion emergency loan to banks on Aug. 9, 2007, was the initial response to a financial crisis that would force the Frankfurt-based institution to expand its balance sheet by trillions of euros. The ECB — together with international peers such ...