Banking

  Bloomberg Turkey’s central bank is holding an extraordinary meeting with bank executives to discuss ways to minimize the market impact of the coup attempt, the Haberturk newspaper reported. The bank convened members of the Banks Association of Turkey, the Istanbul-based newspaper said, without saying where it got its information about the meeting. Turkey’s lira plunged the most against the ...

  Bloomberg Negative yields are spreading to more areas of the fixed-income market by the day. Data from Barclays Plc highlight the staggering pace of change as this week Deutsche Bahn AG became the first non-financial company to sell negative-yielding bonds, and the German government auctioned 10-year debt with a sub-zero yield for the first time. To get a sense ...

  BLOOMBERG Efforts by regulators to level the playing field among European banks is putting Swedish lenders at a disadvantage, according to the chief executive officer of SEB AB, one of the Nordic country’s four big banks. Regulators from Stockholm to Basel are pushing to shrink differences in how banks estimate potential losses, an undertaking designed to ensure that lenders ...

  Bloomberg Forgot your bank card at home? No worries. Many ATMs will soon dispense cash with help from a smartphone and banking app. A growing number of banks are letting consumers arrange withdrawals via their mobile app and pick up the cash at a nearby automated teller machine. Customers authenticate the transaction by scanning a QR code with their ...

  Bloomberg Citigroup Inc and Wells Fargo & Co reported second-quarter profit dropped from a year earlier as persistently low interest rates continued to squeeze lending margins. Citigroup reduced its forecast for net interest margin, the difference between what a bank charges for loans and pays depositors, while Wells Fargo said the UK’s vote to leave the European Union will ...

  Bloomberg A leading US banking regulator wants lenders to do more to manage their exposure to commercial real estate. As property lending accelerates, the Office of the Comptroller of the Currency — which oversees American banks alongside the Federal Reserve Board and the Federal Deposit Insurance Corp — is actively monitoring banks’ stress tests and risk-management practices, Comptroller Thomas ...

  Bloomberg South Korea’s won rose to a two-month high after Bank of Korea Governor Lee Ju Yeol kept interest rates at a record low and said the government’s stimulus will boost growth by about 0.2 percentage point. Policy makers voted unanimously to leave the seven-day repurchase rate at 1.25 percent, as expected by all 20 economists surveyed. While South ...

  Bloomberg Fullerton Financial Holdings Pte, an arm of Singapore state investment company Temasek Holdings Pte, has hired Yeo Hong Ping for a senior management role. Yeo is joining from JPMorgan Chase & Co, where he has worked since 2000, most recently as head of Singapore investment banking, according to a person with knowledge of the matter. Yeo will start ...

  Bloomberg Not since 1998 has Russia’s central bank booked a loss, but that may be about to change. The bottomline will suffer because the Bank of Russia is becoming a net borrower from lenders for the first time since 2011 as deficit spending by the government sends rubles cascading through the system, according to VTB Capital and Renaissance Capital. ...

  Bloomberg The Bank of England left its key interest rate at a record low and signaled it’s readying stimulus for August as the economy reels from Britain’s decision to quit the European Union. The nine-member Monetary Policy Committee, led by Governor Mark Carney, voted 8-1 to keep the benchmark at 0.5 percent, with only Gertjan Vlieghe saying the outlook ...