06272016Mon
Last update: Mon, 27 Jun 2016 05am

Banking & Finance

Business & Finance - Banking & Finance

BoJ's Nakaso says to remain in close contact with other central banks TOKYO: The Bank of Japan is taking steps to remain in close contact with other central banks, Deputy Governor Hiroshi Nakaso said he told a meeting of cabinet ministers on Friday after Britain voted to leave the European Union. Nakaso, who was speaking to reporters after the meeting, declined to comment on whether the central bank will hold an emergency meeting to discuss the "Brexit" aftermath. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Irish central bank satisfied measures in place for any Brexit issues DUBLIN: Ireland's Central Bank is closely monitoring the market impact on its banking sector of Britain's decision to leave the European Union and is satisfied that measures are in place to address any immediate issues that may arise, it said on Friday. "The Central Bank, as part of the Eurosystem, ECB Banking Supervision and the European System of Financial Supervision more broadly, is closely monitoring the market impact and the banking sector," the bank said ...

Business & Finance - Banking & Finance

Demand for new cheap ECB loans at bottom end of expectations FRANKFURT: The European Central Bank's allotted 399.3 billion euros ($443.86 billion) in its initial round of super-cheap loans on Friday, at the lower end of expectations and confirming that euro zone banks are not in great need of additional financing. Unveiled in March as a potent tool to aid the bloc's modest credit recovery, the four-year Targeted Long-Term Financing Operations (TLTRO II) aim to lower corporate borrowing costs to induce spending and ultimately revive inflation. ...

Business & Finance - Banking & Finance

Bafin fines Deutsche Bank for anti-money laundering flaws FRANKFURT: German financial watchdog Bafin last year imposed a fine of 40 million euros ($44 million) on Deutsche-Bank for flaws in its systems designed to prevent money-laundering, a person close to the matter said. Bafin in February closed special audits on Deutsche Bank after the bank pledged to redress its shortcomings and implemented some reforms. In May, the regulator praised changes the lender was making to its business approach.According to its annual report, Bafin fined ...

Business & Finance - Banking & Finance

Norway central bank offers second loan auction after Brexit vote OSLO: Norway's central bank offered a second liquidity auction on Friday and repeated it was continuously assessing the liquidity situation following the Brexit vote. Norges Bank offered this time short-term liquidity through a June 24 to July 1 "F-loan", the bank's main tool for liquidity management, to participants in the Norwegian money market. Minimum bid volume for the loan was 10 million Norwegian crowns($1.17 million), Norges Bank said. Earlier on Friday, the first liquidity auction ...

Business & Finance - Banking & Finance

Investors to focus on fundamentals soon, Polish central bank says WARSAW: After a period of higher volatility after Britain voted to leave the European Union, investors will focus on the Polish economy's strong fundamentals, Poland's central bank said on Friday."The Polish economy has solid macroeconomic fundamentals and is well-balanced," the bank said in a statement. Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Central banks move to calm jittery markets after Brexit shock LONDON/ZURICH: Some of the world's biggest central banks offered financial backstops to soothe plunging markets on Friday after Britain voted to leave the EU with some even intervening in currency markets on worries that volatility could hit growth.The Bank of England offered to provide more than 250 billion pounds ($347 billion) plus "substantial" foreign currency liquidity and it was ready to take additional measures if needed, Governor Mark Carney said after markets went into a ...