Banking

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 ...

Bloomberg The Irish government’s selldown in lender Allied Irish Banks (AIB) had enough demand for the entire 3.8 billion euros ($4.3 billion) worth of stock on offer on the first full day of the sale, an update on the deal showed. Shares in the bank are being offered at between 3.90 euros and 4.90 euros each in the initial public ...

Bloomberg India’s banks have been ordered to use the country’s courts to resolve bad loans totaling about 2 trillion rupees ($31 billion) issued to 12 large debtors. The Reserve Bank of India told the banks to use insolvency laws to find a solution for the debtors, which account for a quarter of the country’s total bad loans, before moving on ...

Bloomberg Reserve Bank of New Zealand (RNBZ) chief Graeme Wheeler complained to the head of one of the nation’s largest banks about an economic commentary written by its research department. In a letter to Bank of New Zealand (BNZ) Chief Executive Officer Anthony Healy dated May 11, Wheeler said the BNZ’s Markets Outlook note of May 8 “appeared to bring ...

Bloomberg The Czech central bank stepped up efforts to cool the mortgage market, warning that rising house prices may spiral out of control and hurt lenders in a country with one of Europe’s lowest levels of housing loans. As record-low interest rates helped fuel a credit expansion in the ex-communist European Union member, policy makers in Prague are pushing for ...

Bloomberg Brad Demong and Leander Christofides, senior private-credit investors who left JPMorgan Chase & Co. last year, rejoined the bank to run a newly formed global special situations group in its asset management division. As the team’s co-chief investment officers, the pair will report to Anton Pil and Chris Hayward, co-managing partners of JPMorgan’s global alternatives unit, according to a ...

Bloomberg Asia’s central banks are stacking the sandbags. Foreign-exchange reserves are being rebuilt as monetary authorities brace for the Federal Reserve’s third rate hike in six months. While the expected move has been well telegraphed, prolonged periods of Fed tightening can cause jitters for emerging markets. Asia was slammed in 2013 when then-Fed Chairman Ben Bernanke’s hint of an end ...

Bloomberg Credit Agricole SA is considering selling part of its 31 percent stake in Saudi Arabian lender Banque Saudi Fransi, reversing earlier plans to completely exit the business, according to people familiar with the matter. France’s second-largest lender has discussed the partial sale of its Saudi operations with the country’s central bank, and has started talking to potential buyers, the ...

Bloomberg Deutsche Bank AG Chairman Paul Achleitner has offered a good news-bad news deal to former management board members: We’ll pay the unvested portion of your bonuses if you give up claims to payments withheld by the lender. The proposal is meeting resistance from some ex-board members with a larger share of the suspended bonus payments, said three people with ...