Bloomberg Wall Street banks are being invited by one of their key watchdogs to offer guidance for how to revise the Volcker Rule, one of the industry’s least favourite regulations. The Office of the Comptroller of the Currency said that it is seeking public comment on the Dodd-Frank Act measure that restricts banks’ ability to place market bets with their ...

Bloomberg Commonwealth Bank of Australia (CBA) Chief Executive Officer Ian Narev has been stripped of his short-term bonus as the lender battles to contain the fallout from allegations it breached money-laundering and terrorist-financing laws more than 50,000 times. The board decided to scrap short-term bonuses for Narev and other senior executives after “consideration to risk and reputation matters impacting the ...

Bloomberg The Bank of England secretly plugged a multi-million-pound hole in Britain’s finances during World War I, covering up the failure of one country’s apparent patriotic triumphs. In the early days of the war in 1914, the government sought to raise 350 million pounds—about 38 billion pounds today— through the issuance of a War Loans, with 250 million pounds of ...