Banking

  Bloomberg Bank of England policy maker Kristin Forbes said there’s no need to hurry to add stimulus after the UK’S vote to exit the European Union, citing a moderation of the immediate market turmoil, calm consumers and “quite solid” growth before the referendum. “Given the substantial uncertainty and likelihood that growth slows, there is a valid case to ease ...

  Bloomberg Denmark’s biggest bank said profit slipped 1 percent in the second quarter, missing analyst estimates, as income all but stagnated. Danske Bank A/S reported net income of 4.26 billion kroner (US$631 million), missing the 4.32 billion-krone average estimate of analysts. Net interest income was broadly unchanged at 5.49 billion kroner, according to the Copenhagen-based lender. The bank said ...

  BLOOMBERG An increasing number of officials at the Bank of Japan are concerned about the sustainability of the current framework for massive monetary stimulus, according to people familiar with the discussions. Some current and former BOJ officials, including dissenting board member Takahide Kiuchi, have for some time publicly said that the central bank’s unprecedented scale of bond purchases and ...

  Bloomberg Indonesia’s central bank left its benchmark interest rate on hold after four reductions this year, while signaling there’s room for more easing to bolster growth in Southeast Asia’s biggest economy. Governor Agus Martowardojo and his board kept the reference rate at 6.5 percent on Thursday, as forecast by 10 of 26 economists surveyed by Bloomberg. The rest had ...

  Bloomberg Federal agents surprised an HSBC Holdings Plc executive as he prepared to fly out of New York’s Kennedy airport, arresting him for an alleged front-running scheme involving a US$3.5 billion currency transaction in 2011. Mark Johnson, HSBC’s global head of foreign exchange cash trading in London, appeared in court on Wednesday after being held in a Brooklyn jail ...

  AFP Brazil’s central bank left unchanged Wednesday its benchmark interest rate as Latin America’s largest economy remains mired in recession and high inflation. The central bank, as expected, kept the key Selic rate at 14.25 percent, where it has been pegged for a year to support the flailing economy. The meeting of the Central Bank Monetary Policy Committee (Copom) ...

  Bloomberg European banks need to sell hundreds of billions of euros in loss-absorbing liabilities over the next few years to meet European Union rules designed to protect taxpayers from the cost of bank failures. The European Banking Authority estimates as much as 470 billion euros (US$517 billion) of financing is needed under the most conservative assumptions for what qualifies ...

  Bloomberg Nordea Bank AB expects pressure on its lending income to abate as Chief Executive Officer Casper von Koskull predicts the rest of the year will show an improvement in the bank’s results. “Despite low growth and turbulent financial markets, revenues are holding up well,” Chief Executive Officer Casper von Koskull said in the statement. “Margin pressure in net ...

  BLOOMBERG Deutsche Bank AG expects the UK to lose its ‘passporting’ rights, which allows banks to sell their services in the European Union, after the country voted to leave the trade bloc, Business Insider reported, citing an internal document. In the confidential note prepared for a July 5 board meeting, Deutsche Bank sees a “first-mover advantage” because a “synchronised ...

  Bloomberg Skye Bank Plc, whose top management was replaced by regulators this month, surged for a second day following a report that a major debtor reached an agreement that may help it repay the Nigerian lender. The stock closed up 9.1 percent to 72 kobo in Lagos, the best performer on the 171-member Nigerian Stock Exchange All-Share Index. Almost ...