Bloomberg Commerzbank passed over internal front-runners in favour of an executive with a reputation for tough cuts at its biggest rival to push through one of the largest restructuring programs in its history. Manfred Knof, 55, head of German retail banking at Deutsche Bank AG, takes over from Martin Zielke as Commerzbank chief executive officer on January 1, according to …

Bloomberg Singapore’s central bank is in talks with lenders about extending the nation’s debt moratorium programme beyond December 31 to provide extra relief for borrowers hit by the fallout from the coronavirus pandemic. One of the key measures being discussed by the Monetary Authority of Singapore (MAS) and local banks is the possibility of lengthening the debt relief program, with …

Bloomberg The Federal Reserve is about to decide whether to extend a ban on banks buying back their own stock. It may shape up to be pivotal for year-end funding risks. If the Fed keeps its ban on buybacks in the decision due by end of September, banks will be stuck holding capital until next year and will “flood” the …