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Rescued China bank suspends payments on dollar securities

Bloomberg A regional Chinese lender under the spotlight for liquidity strains plans to suspend dividend payments on its offshore preference shares, sending indicated prices on those securities tumbling. Bank of Jinzhou Co, which was the subject of a government-orchestrated rescue in July, said that it’s seeking shareholder approval to halt dividends for the year through October 26. That’s after its ...

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Swiss lender held off currency interventions

Bloomberg Swiss National Bank sight deposits fell for the first time in seven weeks, suggesting the central bank has scaled back interventions to weaken the franc. Sight deposits, considered an early indicator of SNB market activity, declined 154 million francs ($155 billion). They had risen by 2.5 billion francs the previous week, and 3.8 billion francs the period before that. ...

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Banker pay restrictions to stay: Ireland

Bloomberg Ireland won’t change its restrictions on banker pay, its junior finance minister signalled, in the clearest sign yet that the rules will remain in place. “I’m of the view the decision is made,” Michael D’Arcy said in a Bloomberg TV interview in Hong Kong. “The bankers in those institutions are well paid. The threshold is 500,000 euros and that’s ...

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