Banking

Bloomberg Australia’s big four banks rallied in Sydney trading as new capital requirements turned out to be less onerous than expected and the financial regulator signaled they may not get any higher. To ensure they are ‘unquestionably strong,’ Australia & New Zealand Banking Group Ltd., Commonwealth Bank of Australia, National Australia Bank Ltd. and Westpac Banking Corp. will need Tier-1 ...

Bloomberg When Bank of America Corp. (BoFA) and Goldman Sachs Group Inc. posted earnings, one had record income from lending while the other had better-than-expected trading. The surprise is which was which. Goldman Sachs, the vaunted trading house, pointed to growth in its effort to lend to wealthy people as a bright spot. Bank of America, with 4,500 branches across ...

Bloomberg HDFC Bank Ltd is threatening to end Axis Bank Ltd’s decade-long reign as the largest arranger of rupee-denominated corporate bonds as sales climb to a record for a third straight year. India’s most valuable bank has managed Rs481.5 billion ($7.5 billion) of offerings so far this year, jumping 11 notches from 2014 to number two on Bloomberg’s league table. ...

Bloomberg Citigroup Inc. has chosen Frankfurt as its newest trading hub in the European Union and plans to present that option to its board of directors this week for approval, according to a person with knowledge of the decision. The choice to expand the bank’s existing broker-dealer in the German city means it will create between 150 and 250 new ...

Bloomberg BNP Paribas SA agreed to pay $246 million to settle Federal Reserve allegations that the bank failed to keep its currency traders from using electronic chatrooms to manipulate prices. The Fed ordered the Paris-based lender to improve its oversight and internal controls for foreign-exchange trading. BNP Paribas also agreed to $350 million settlement in May with the New York ...

Bloomberg The new chief executive officer of Piraeus Bank SA is trying to make up for lost time. CEO Christos Megalou must offload 4 billion euros ($4.6 billion) in bad loans by the end of the year under a restructuring plan worked out with the European Central Bank’s supervisory arm months before he took over at the largest Greek lender. ...

Bloomberg Wells Fargo & Co. exercised an option to buy the rest of Golden Capital Management, an ‘active quant’ investment firm that helps oversee $10 billion. The bank, which built up a 65 percent stake in Golden in 2011, said in a statement that it finished purchasing the rest at the start of this month. It didn’t disclose the terms. ...

Dubai / Emirates Business Following a period of economic uncertainty, Europe’s recovery has gathered speed over the last year and the outlook has improved considerably. In its recent edition of EMEA Perspectives, J.P. Morgan Private Bank’s Gabriele Zaninetti analyses the current investment landscape in Europe and shares his views on why Europe offers a rich source of attractive investment opportunities. ...

Bloomberg As global bonds reel under hawkish rhetoric by major central bankers, AllianceBernstein and Amundi Asset Management say emerging-market currencies will weather the storm better than 2013. Improvements in external balances, higher reserves and subdued inflation are among factors making developing-nation economies from India to Mexico appear less vulnerable to the risk of outflows when their advanced peers begin to ...

Bloomberg HSBC Holdings Plc has instructed about 6,000 employees of its global markets division to cease buying single-name securities on their personal accounts, according to people with knowledge of the matter. Purchases of single-name stocks, bonds and concentrated exchange-traded funds will be prohibited, Global Head of Markets Thibaut de Roux told staff in an email, said the people, who asked ...