Harare / Reuters Foreign banks operating in Zimbabwe have submitted credible plans on how they intend to transfer majority shares to locals, the country’s finance minister said on Saturday, reducing the chances the government could cancel their licences. Under an Indigenisation and Economic Empowerment Act all foreign companies operating in Zimbabwe were given a March 31 deadline to sell at ...

Bloomberg The Federal Reserve has given final approval to a rule that will let banks include investment-grade municipal bonds among the assets they use to meet regulatory requirements to ensure they have sufficient liquidity to weather a crisis. The Fed and other US financial regulators adopted the liquidity coverage ratio requirement in October 2014 as a response to bank deficiencies ...

Reuters Emerging Markets (EMs) are fast losing their shine for the world’s biggest investment banks. Faced with falling fees from fewer deals – and bleak prospects ahead – many have put the brakes on a decade-long expansion, with some cutting jobs and shutting offices. Subdued deal activity has meant there are fewer dollars for banks to fight over: fees in ...