Banking

Exit from EU would be disaster for UK, says Deutsche Bank

  Bloomberg Deutsche Bank AG Chairman Paul Achleitner has become the latest global banking leader to warn about the potential fallout if UK voters decide to leave the European Union. A yes vote next week on the so-called Brexit would be an “economic disaster for the UK and a political disaster for the EU,” Achleitner said at a dinner Wednesday ...

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Morgan to give Airbnb US$1bn debt facility

  Bloomberg Airbnb Inc secured a US$1 billion debt facility from some of the largest U.S. banks to help the home-sharing company develop new services and fund growth initiatives, people familiar with the matter said. The debt deal was led by JPMorgan Chase & Co, Citigroup Inc. and Bank of America Corp Morgan Stanley also participated, according to the people, ...

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Government approves merger of 5 associate banks with SBI

  Bloomberg State Bank of Bikaner & Jaipur and State Bank of Mysore shares surged for a second day as India approved the merger of the lenders with their parent, amid a government push to strengthen the nation’s fragmented banking industry. Bikaner Bank rose 18 percent in Mumbai to a five-month high, while SBM climbed 20 percent to the highest ...

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Japanese banks support central bank over BOJ’s negative rates

  Bloomberg Japan’s main bank lobby hinted that the central bank was right to keep monetary stimulus unchanged, saying that sending negative interest rates even lower would hurt the industry. “The impact on banks would be more severe if negative rates are expanded,” Japanese Bankers Association Chairman Takeshi Kunibe said at a briefing in Tokyo hours after the decision. Japanese ...

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BOJ faces unhappy banks amid policy move

  Bloomberg As well as a surging yen, non-existent inflation and a weak economy, Bank of Japan Governor Haruhiko Kuroda has something else to think about when deciding monetary policy this week— unhappy banks. Japan’s biggest lender, Bank of Tokyo-Mitsubishi UFJ Ltd, has led the way in voicing concerns about the negative interest-rate regime introduced by Kuroda earlier this year. ...

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PKO plan to bid for Raiffeisen’s Polish unit

  Bloomberg Poland’s largest lender PKO Bank Polski SA is planning to bid for Raiffeisen Bank International AG’s unit in the country, as the state-run company seeks to reinforce government efforts to boost domestic ownership of the financial industry, according to a person familiar with the process. Raiffeisen’s Polish assets, including its corporate banking unit, wouldn’t overlap much with PKO’s ...

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Nigeria delays bank capital rules to avoid recession

  Bloomberg Nigeria plans to delay new capital rules for banks as regulators in Africa’s biggest economy follow fellow oil producer Kazakhstan in trying to boost lending and avoid a recession. The Central Bank of Nigeria in 2014 ordered the country’s lenders it considered too big to fail to boost minimum capital adequacy ratios to 16 percent from 15 percent ...

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New rules choke Europe’s securitisation bankers

  Bloomberg Two decades ago Europe’s asset-backed securities (ABS) market was in its infancy. It has not aged gracefully. On a panel at the annual gathering of securitisation bankers in Barcelona, the industry’s old guard reminisced about how things were when they met for the very first time in Cork, Ireland in 1996. Securitisation, a technique for transforming groups of ...

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2 centuries on, Norway central bank has no map

  Bloomberg Two centuries after its creation, Norway’s central bank finds itself without any guide in history to help it tackle the challenges ahead. It has largely been forced to follow its bigger peers down a rabbit hole of ever lower interest rates to counter a ‘long-term’ global trend of slower growth, a global savings glut and weakening productivity, according ...

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Fed firms grip on US$2.5trn stack of Treasuries

  Bloomberg The Federal Reserve’s liftoff from near-zero interest rates in December sparked angst over how quickly the central bank would start whittling down its US$2.5 trillion hoard of Treasuries. It turns out that investors in the world’s biggest bond market had little cause for concern. The weaker-than-forecast labour report for May wiped out bets that policy makers would follow ...

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