LONDON, Nov 24 (IFR) - HSBC said Bryan Pascoe, its group treasurer, is moving to head client coverage for its commercial banking arm. The bank said a replacement for Pascoe as treasurer had not yet been named, and Pascoe will remain in his role until then. Pascoe has been at HSBC for
Read moreBy Jonathan Stempel NEW YORK, Nov 22 (Reuters) - A federal bankruptcy judge on Tuesday dismissed lawsuits by the trustee liquidating Bernard Madoff's firm to recoup funds from Koch Industries Inc, the company controlled by billionaire brothers Charles and David Koch, and dozens of other def
Read moreBRUSSELS, Nov 22 (Reuters) - Top American or Asian banks will have to hold enough capital buffers for their activities in the European Union to face crisis without help from their headquarters, a draft EU law says, according to officials familiar with it. The provision is included in a refo
Read more* Banks planning for life after Brexit * Transition deal may be too difficult politically * Banks seek quick agreement on passporting By Andrew MacAskill, Huw Jones and Anjuli Davies LONDON, Nov 22 (Reuters) - Banking executives have welcomed hints that Prime Minister Ther
Read more(Adds MetLife comment) By Huw Jones LONDON, Nov 21 (Reuters) - Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability. <
Read more(Adds lawmaker, lawyer reaction) By Huw Jones LONDON, Nov 21 (Reuters) - The Bank of England (BoE) has proposed raising the guarantee on bank account deposits back to 85,000 pounds ($105,000) from Jan. 30, 2017, to reflect the sharp fall in sterling following Britain's vote to leave t
Read more(ShareCast News) - The Financial Stability Board has updated its annual rankings of the most globally systemic banks in the world, with Citi rising to the top of the pile alongside JPMorgan Chase. HSBC dropped off the top spot in the rankings released by the FSB each year, which show the financial i
Read moreLONDON, Nov 21 (Reuters) - The Bank of England has proposed raising "insurance" on bank account deposits to 85,000 pounds ($104,839)from January 30, 2017, after a sharp fall in the value of sterling following Britain's decision to leave the European Union. "Restoring the limit to 85,000 pou
Read moreBy Steve Slater LONDON, Nov 21 (IFR) - Citigroup, Bank of America Merrill Lynch, Wells Fargo and ICBC will all have to hold extra capital from 2018 as a result of changes to the list of the world's most important banks. In contrast, HSBC, Barclays and Morgan Stanley will see their min
Read moreLONDON, Nov 21 (Reuters) - Citi joined JPMorgan as the world's most systemically important banks, replacing HSBC in a group of 30 lenders who must hold extra capital from 2019 to preserve financial stability. The group of 20 economies (G20) agreed after the 2007-09 financial crisis that to
Read moreBy Eric Onstad LONDON, Nov 17 (Reuters) - Commodities-related revenue at the 12 biggest investment banks fell 22 percent in the first nine months due to weak industrial metals trading and lacklustre investor interest, a report by financial industry analytics firm Coalition said. Reven
Read moreBy Steve Slater LONDON, Nov 16 (IFR) - Credit Suisse lost almost US$1bn in its US operations last quarter, one of five major foreign banks to lose money on their US trading desks, according to results from the country released for the first time this week. Credit Suisse's US business
Read more(ShareCast News) - HSBC has agreed to sell its business in Lebanon to Blom Bank for an undisclosed sum. The bank said the deal, which is expected to take place in the first half of next year, "represents further progress in the execution of HSBC Group strategy". As at 30 June 2016, the business com
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