Banking

  Bloomberg Mexico’s central bank should be prepared for a slowdown in its economy while growth in the U.S. accelerates, with potential implications to the path of benchmark interest rates in the coming months, the newest member of the central bank board Alejandro Diaz de Leon said. A series of rate increases by the central bank in the past year ...

  Bloomberg Royal Bank of Scotland Group Plc rose to a one-year high after the bank said it will scrap the planned sale of its Williams & Glyn consumer-banking unit. The shares gained as much as 6.4 percent and were up 11.2 pence to 254 pence as of 8:58 a.m., the highest among British banks in London trading on Monday. ...

  Bloomberg Chinese banks had more than 26 trillion yuan ($3.8 trillion) of wealth-management products held off their balance sheets at the end of December, a 30 percent increase from a year earlier, according to the central bank. The expansion of this form of shadow banking, with money eventually being diverted to quasi-loans and bonds, outpaced the 10 percent growth ...

  DUBAI / Reuters The private banking arm of Singapore’s second-biggest lender OCBC is targeting annual growth of assets of more than 20 percent from its new office in Dubai, which it aims to use to attract wealthy clients from the Middle East and Africa, its chief executive said. Bank of Singapore launched the office in the Dubai International Financial ...

  Bloomberg HSBC Holdings Plc investors will be looking for indications that the bank will follow through on its plan to return more capital when it announces fourth-quarter results this week, after a $2.5 billion stock buyback and a slumping pound lifted shares in 2016. The stock has surged 56 percent since the Brexit vote on June 23, the most ...

  Bloomberg The International Monetary Fund is backing Somalia’s plans to replace tattered currency notes that were printed before the Horn of Africa nation plunged into civil war almost three decades ago. The new Somali shilling notes may come into circulation this year, alongside the US dollar that’s been the main means of payment, and will replace fake or old ...

  Bloomberg The Reserve Bank of India’s (RBI) commitment to a stable rupee is having an unintended consequence: local companies are getting complacent about hedging their overseas borrowings. A gauge of expected rupee swings fell the most after Russia among 23 emerging markets over the last two years, thanks to the RBI’s regular interventions in currency markets and its success ...

  Bloomberg China will likely avoid a financial crisis and is on track to reach high income status by 2027, according to a new Morgan Stanley report on the nation’s longer-term prospects titled “Why we are bullish on China.” The sweeping outlook comes amid growing concern over China’s surging debt levels, slow pace of reforms and the impact of a ...

  Bloomberg A European Union bad bank would go a long way toward reducing the 1.2 trillion-euro ($1.3 trillion) mountain of soured loans on lenders’ books, but that relief may be a long time coming, according to the bloc’s bank regulator. Andrea Enria, chairman of the European Banking Authority (EBA), proposed setting up a bloc-wide asset-management company to take over ...

  Bloomberg Jim McCaughan, who oversees more than $390 billion at Principal Global Investors, cautioned against betting on European stocks, even after they trailed US equities for years. “I see this as a value trap,” McCaughan said in an interview on Bloomberg Television. “I don’t see where the growth is coming from in Europe, and I see lots of risk. ...