Banking

  Bloomberg The appetite of China’s wealthy to diversify from a weakening yuan is helping European finance companies boost capital to prepare for the next financial crisis. Global fund managers are urging caution. Since Aug. 1, seven issuers opened order books for their Basel III bond sales in Asian hours, raising $11.9 billion selling instruments that count as capital under ...

  Dubai / Reuters Qatar’s central bank is offering 3 billion riyals ($824 million) of government bonds in its second domestic bond sale this year, according to a circular seen by Reuters. The central bank only issued its first domestic bonds this year in August when it sold 4.6 billion riyals of conventional and Islamic government bonds. Bids for the ...

Bloomberg Danske Bank A/S named Jesper Nielsen its head of personal banking, as Denmark’s largest lender reshuffles its management after creating a $200 billion wealth management unit. Nielsen, 47, will be responsible for all of Danske’s personal customer business in the Nordic region from Oct. 1 , the Copenhagen-based bank said in a statement on Monday. Nielsen, who will also ...

  Bloomberg Deutsche Bank AG extended losses as analysts signaled that the German lender’s capital position will be eroded by mounting legal costs such as charges for a U.S. penalty tied to faulty securities. The shares fell as much as 2.6 percent in Frankfurt trading and were 0.9 percent lower as of 11:44 a.m., pushing the loss for this year ...

  Bloomberg Africa’s major economies are taking diverging approaches to monetary policy as they struggle to cope with volatile currencies, slumping growth and political meddling. Ghana, Kenya, Nigeria and South Africa are set to announce interest-rate decisions this week in an environment marked by accelerating price growth and an economic slump in some countries and attempts by politicians to prescribe ...

  Frankfurt / AFP The European Central Bank (ECB) must not allow low interest rates and monetary stimulus to last indefinitely, the head of Germany’s Bundesbank (central bank) said on Monday. “Under no circumstances can interest rates remain so low for longer than is absolutely necessary with regard to price stability,” Bundesbank president Jens Weidmann told a group of European ...

  Bloomberg Financial markets have coped well with Brexit and other potentially disruptive political developments recently but asset prices may be running too high and the potential risks to market stability are growing, a report warned on Sunday. In its Quarterly Review, the usually guarded Bank for International Settlements didn’t explicitly say that stock and bond markets are bubbles waiting ...

  Reuters Royal Bank of Scotland (RBS) shares fell after U.S. authorities demanded $14 billion from Deutsche Bank to settle mis-selling claims, raising fears about how much RBS might have to pay for similar misconduct. The British state-backed lender has waited many months to hear how U.S. authorities including the Department of Justice (DoJ) and Federal Housing Finance Agency intend ...

  Bloomberg Many Latvians got a shock this summer when they were informed their bank accounts risked being blocked if they didn’t hand over details of their citizenship, financial plans and any ties to high-level politics. Demands to fill out online questionnaires were dispatched by lenders at the behest of financial regulators, who’ve been battling the Baltic nation’s reputation as ...

  Bloomberg A warning indicator for banking stress rose to a record in China in the first quarter, underscoring risks to the nation and the world from a rapid build-up of Chinese corporate debt. China’s credit-to-gross domestic product “gap” stood at 30.1 percent, the highest for the nation in data stretching back to 1995, according to the Basel-based Bank for ...