Banking

Bloomberg UBS Group AG and Credit Suisse Group AG are “on track” to meet Switzerland’s tougher capital rules for the two systemically important banks after improving their capacity to absorb losses, Swiss National Bank (SNB) said. UBS and Credit Suisse already fully comply with going-concern requirements in terms of risk-weighted assets but still have to improve their loss-absorbing capacity as ...

Bloomberg HSBC Holdings Plc’s investment bank chief Samir Assaf said a hard Brexit is now unlikely after the UK election, and that could mean more jobs staying in London. A softer Brexit would be “very good news for us, because it will be less hassle and we would be able to do much more things from London,” Assaf said at ...

Bloomberg Despite half a decade of negative interest rates, Denmark’s banks are making more money than ever before. But the central bank in Copenhagen now says the industry is at risk of missing several warning signs that may be pointing toward another crisis, especially should interest rates suddenly rise. “There is every reason to watch out for speed blindness,” the ...

Bloomberg Japan’s biggest bank is set to undergo the most dramatic reduction in headcount since it was formed after the nation’s banking crisis shook the industry almost 20 years ago. Mitsubishi UFJ Financial Group Inc. is considering eliminating about 10,000 positions — about 7 percent of its workforce — over a decade as low interest rates and intensifying competition squeeze ...

Bloomberg China’s smaller banks, caught between a seasonal cash squeeze and an official deleveraging drive, are stomaching record high borrowing costs to raise funds. Issuance of negotiable certificates of deposit jumped to 758 billion yuan ($111.5 billion) this week, the most since the securities were introduced in 2013 as a lifeline for smaller banks. The yield on one-month AAA rated ...

Bloomberg A potential share sale of Banco Patagonia SA was delayed after majority holder Banco do Brasil SA prevented a shareholder meeting of the Argentine lender. Banco do Brasil hasn’t decided whether it will sell its 59 percent stake in Patagonia or offer new shares, according to two people familiar with the matter who asked not to be named because ...

Bloomberg Russia’s ruble pared a third weekly drop while bonds fell as the central bank slowed the pace of easing with a 25 basis-point cut in its main interest rate amid an escalation of tensions with the U.S. and a drop in oil. The currency traded 0.4 percent higher at 57.67 per dollar in Moscow, paring a weekly drop to ...

Bloomberg Bank of England (BOE) policy maker Kristin Forbes warned that the move in the pound may have a more persistent effect on inflation and a monetary policy response is needed. Forbes, one of three BOE officials to vote for an interest-rate increase this month, said it’s acceptable to look through inflation shocks if they create deviations from trend rather ...

Bloomberg Canada’s department of finance proposed new rules limiting government support for potential bailouts of the nation’s banks, extending a so-called “bail-in regime” promised last year. The government introduced in its April 2016 budget a plan to implement a bail-in regime for Canada’s “systemically important banks,” which would allow authorities to convert securities of a failing lender into common shares ...

Bloomberg Barclays Plc plans to plead guilty to UK charges that it failed to make proper disclosures about a multi-billion-pound capital raising from Qatar during the financial crisis, according to a person with knowledge of the process. The bank is braced for a fine, which would likely range from 100 million pounds ($128 million) to 200 million pounds, said the ...