Bloomberg The Bank of Korea (BOK) will provide $12 billion to banks in its first round of dollar injections using a currency swap line with the Federal Reserve. The auction will be held on Tuesday at 10 am Seoul time, and banks may apply for seven-days debt of up to $300 million, and 84-days debt of up to $1.5 billion, ...

Bloomberg The two-decade run of record profits at China’s biggest banks, which even survived the financial crisis, is facing its biggest test. Banks such as Industrial & Commercial Bank of China Ltd., the world’s largest by assets, are caught in a vise as their operations are hammered by the outbreak of the deadly coronavirus. At the same time, they are ...

Bloomberg South African banks are being criticised by labour unions and small business owners for not doing enough to help struggling customers as the coronavirus lockdown looms. “The response is quite underwhelming,” said Matthew Parks, a parliamentary coordinator for the Congress of South African Trade Unions. “There are too many ifs and buts. It’s hitting too few people. It’s just ...