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BoE's Carney says may need to regulate bankers' fixed pay SINGAPORE: Regulators may need to look at new rules to control the fixed pay of bankers as well as their bonuses so that it can be clawed back in the event of wrongdoing, the governor of the Bank of England said on Monday. Developed economies have brought in a series of reforms to financial sector bonuses in recent years, bringing in laws to defer when they are paid and the ability to take them back in the event of banker misconduct or excessive risk taking. In response, many banks are reported to have raised the fixed level of pay awarded to their staff. "Standards may need to be developed to put non-bonus or fixed pay at risk," Mark Carney said in a speech in Singapore. "This will help re-build trust in financial institutions," he added. His comments came less than a week after five banks in different countries were fined ...

British MPs urge bank regulation after forex scandal LONDON: A British parliamentary group on Monday urged action to regulate banks after a scandal over misconduct by foreign exchange traders saying that previous reform proposals had been so far ignored by lenders.The chairman of the Parliamentary Commission on Banking Standards said that a report by the group showed that recommendations made after another scandal over rate-rigging had not been implemented."They certainly must not be diluted," said Andrew Tyrie, who is also head of the ...
Euro zone's troubles, gold vote test Swiss central bank ZURICH: The Swiss National Bank faces the biggest test of its cap on the franc in two years but may find it easier to defend now than when euro zone breakup fears were rampant and the strategy unproven.The franc rose to its strongest level since September 2012 on Friday, brushing up against the 1.20 euro limit the Swiss National Bank introduced in 2011 when the currency's strength was squeezing exporters and threatening deflation.Renewed weakness in ...
Chinese banks' bad loans ratio rises BEIJING: Chinese banks' bad loan ratio rose to 1.16 percent at the end of September up 0.09 percent points from June, the banking regulator said on Saturday.The data could add to concerns that the slow economy and cooling property market might weigh on banks and brew up financial risks.The total value of non-performing loans rose to 766.9 billion yuan ($125.13 billion), up 72.5 billion yuan from the previous quarter, the China Banking Regulatory Commission (CBRC) ...
Russians responding ‘reasonably’ to rouble slide: central bank governor MOSCOW: The Russian people are behaving "entirely reasonably" in their response to the falling rouble, central bank governor Elvira Nabiullina said in a television interview broadcast on Saturday.The behaviour of households is seen as a key factor that may determine whether the central bank will resume forex market interventions following its float of the rouble last week."The population, in fact, is behaving entirely reasonably ... There has been a certain increase in demand for foreign ...
Mexico central bank decision to hold rates was unanimous MEXICO CITY: Mexico's central bankers were unanimous in their decision to hold interest rates steady last month and most board members thought that a recent spike in inflation will fade next year, minutes showed on Friday. Central Bank board members voted 5-0 at their Oct. 31 meeting to hold their benchmark rate at a record low of 3.0 percent. Copyright Reuters, 2014 ...
French central bank chief warns bank levies could hurt recovery PARIS: France's central bank governor railed on Friday against levies on banks, warning the measures could keep them from lending funds onwards to activities that support the country's broader economy, which is still close to stagnation. French banks will have to contribute 15 billion euros ($18.7 billion) towards an EU fund being phased in to limit the fallout from a potential bank collapse. Much to the anger of the French banking sector, the government said ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln