Banking

  Bloomberg Brookfield Asset Management Inc. is in talks with State Bank of India, the country’s largest lender, about forming a joint venture to invest in stressed Indian assets, people with knowledge of the matter said. Brookfield, Canada’s largest alternative asset manager, has discussed investing about 70 billion rupees (US$1 billion) in the venture while SBI and its associate banks ...

  Bloomberg The Bank of England allotted less to banks in the second of its extra liquidity operations being held to assure sufficient funding around Britain’s referendum on European Union membership. Banks sought just 370 million pounds (US$546 million), compared with 2.46 billion pounds at the previous extra indexed long-term repo operation on June 14, according to the central bank. ...

  Bloomberg On Friday morning London time — when the result of a UK referendum will show whether the nation has chosen to leave the European Union — the Bank of Japan and the Swiss National Bank’s Singapore desk could already be selling yen and francs. They and their peers are also primed to pump liquidity into banks fearful of ...

  Bloomberg It’s not quite Brexit. But just two days before the UK goes to the polls, a throng of German academics, politicians and ordinary citizens are pinning their hopes on a different breakaway. Germany’s highest court will deliver judgments today in five separate cases seeking to stop the country from participating in a controversial bond-buying plan that underpinned European ...

  Bloomberg Pent-up demand for dollars may push Nigeria’s naira at least 20 percent weaker when the central bank allows the currency of Africa’s biggest economy to float freely, said analysts including Renaissance Capital Ltd. and the head of Ecobank Transnational Inc. Demand for foreign currency has built up to about US$3 billion since capital controls were imposed 15 months ...

  Bloomberg Denmark’s government and regulator are looking into tougher laws including the option of imposing harsher penalties on banks after repeated breaches by Nordea Bank AB suggested the existing framework is too weak. Business Minister Troels Lund Poulsen met with the head of the Financial Supervisory Authority, Jesper Berg, discuss measures that could be enforced. The talks followed news ...

  Bloomberg As if Brexit wasn’t enough to worry about, India investors now need to cope with central bank Governor Raghuram Rajan’s impending departure. The rupee, Asia’s worst performing currency this year, slumped to its lowest level in four weeks, following Rajan’s weekend announcement that he plans to return to academia when his term ends in September. Volatility in the ...

  Bloomberg German Finance Minister Wolfgang Schaeuble said European Union policy makers have safeguards in place to avoid “chaotic developments” should Britons vote to leave the bloc. “Ultimately you have to wait for Britons to decide and then you have to respect the decision,” Schaeuble told reporters after a speech at the Institute for the World Economy in Kiel, Germany. ...

  Bloomberg Bank of England Governor Mark Carney said that it plans to launch a financial technology accelerator programme to tap the expertise of startups as a flurry of innovations reshapes finance. This may be the first time a central bank has employed this approach to research and development, a practice long used in Silicon Valley as a way to ...

  Bloomberg Bank of Canada Senior Deputy Governor Carolyn Wilkins wants to help companies develop new technologies such as digital currencies and ensure they meet tough standards to protect consumers and avoid market crashes. “Authorities should support innovation, but the bar will be high, especially for core financial services,” Wilkins said in Calgary. “I worry that players not covered currently ...