Banking

  Bloomberg Deutsche Bank AG’s finances, weakened by low profitability and mounting legal costs, are raising concern among German politicians after the U.S. sought $14 billion to settle claims related to the sale of mortgage-backed securities. At a closed session of Social Democratic finance lawmakers this week, Deutsche Bank’s woes came up alongside a debate over Basel financial rules, according ...

  Bloomberg China’s central bank has approved trading of credit-default swaps by financial institutions in the nation’s interbank market, as it seeks to help investors tackle rising non-payment risks among the country’s borrowers, according to people familiar with the matter. The National Association of Financial Market Institutional Investors (NAFMII), a unit under the People’s Bank of China, will likely make ...

  Bloomberg Forecasts for what would be the first decline in total profits at China’s biggest banks in 10 years are raising concern in the bond market that lenders will need state help to clean up mounting bad debts. The yield premium for Industrial & Commercial Bank of China Ltd.’s 6 percent Additional Tier 1 securities, which count as capital ...

  Bloomberg The Bank of England will cut interest rates close to zero later this year as concern persists about the longer-term impact of the Brexit vote, according to a survey. Forecasts in the latest Bloomberg monthly poll show that recent signs of strength haven’t dissuaded economists from the view that there will be a sharp cooling in growth in ...

  Bloomberg ICICI Prudential Life Insurance Co. attracted strong demand for its initial public offering of as much as 60.6 billion rupees ($904 million), as the nation’s biggest such deal in six years drew orders of more than 6.5 times the amount of stock for sale. Institutional investors subscribed to about 7.82 times the number of shares reserved for them, ...

  Bloomberg The euro area’s biggest banks will face “indicative” requirements for loss-absorbing funds this year to avoid confusion as global and European regulators wrap up work on new standards, according to Elke Koenig, head of the Single Resolution Board. The Brussels-based SRB, the resolution authority for 142 banks including Deutsche Bank AG and BNP Paribas SA, will use the ...

  Bloomberg Canadian Imperial Bank of Commerce, National Australia Bank Ltd. and Bank Leumi Le-Israel Ltd. formed an alliance to develop technologies faster and cheaper amid an industrywide shift toward digital banking. The three lenders agreed to share information, co-develop products and services and swap employees in areas of payments, digital banking, cyber security and emerging financial technology, according to ...

  Tokyo / AFP Japan’s central bank on Wednesday unveiled a surprise overhaul of monetary policy, promising to redouble attempts to fuel inflation and kickstart the torpid economy. After a hotly anticipated meeting, the Bank of Japan said it would set a target for 10-year government bond yields to try to push them higher, while delaying a further cut in ...

  Hong Kong / AFP Postal Savings Bank of China (PSBC) is set to raise $7.4 billion in its Hong Kong initial public offering, which is expected to be the world’s biggest flotation this year, reports said Wednesday. The listing is also poised to be the biggest since Chinese internet giant Alibaba floated in New York in 2014, raising $25 billion. ...

Bloomberg New global banking rules are set to be “heavily watered down” to a level banks European can manage without major capital raising, according to HSBC Holdings Plc analysts. The revamp of the capital framework under discussion at the Basel Committee on Banking Supervision will probably boost capital requirements by less than 10 percent when implemented in Europe, allowing banks ...