02102016Wed
Last update: Wed, 10 Feb 2016 05pm

Banking & Finance

Business & Finance - Banking & Finance

Azeri central bank sells $31mn on FX market on Weds to support manat BAKU: Azerbaijan's central bank said it had sold $31 million on the foreign exchange market on Wednesday to support the rate of the national manat currency.Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

European banks hesitate on Iran, wary of US fines PARIS: Western companies have been rushing into Iran for a part of post-sanctions business action but European banks, still reeling from punitive US fines over links to the country, are waiting on the sidelines until they feel it is safe to do business with Tehran."Sanctions have been lifted but really things are still not very clear," a source at a major French bank told AFP on condition of anonymity.US and French interpretations on the current ...

Business & Finance - Banking & Finance

Citigroup reaches $23mn 'ice breaker' yen Libor settlement NEW YORK: Citigroup Inc will pay $23 million to end private U.S. antitrust litigation claiming that it conspired to manipulate the yen Libor and Euroyen Tibor benchmark interest rates.Lawyers for the plaintiff investors called the accord an "ice breaker" that could spur some of the roughly 20 other bank defendants to settle.Settlement papers were filed on Monday night in the U.S. District Court in Manhattan. Court approval is required.RP Martin, a brokerage whose main assets ...

Business & Finance - Banking & Finance

US Fed awards $80.13bn reverse repos NEW YORK: The Federal Reserve on Tuesday awarded $80.13 billion of one-day fixed-rate reverse repurchase agreements to 40 bidders at an interest rate of 0.25 percent, the New York Fed said on its website.The reverse repurchase agreement program is seen as a critical policy tool for the U.S. central bank to drain money from the financial system in an effort to achieve its interest-rate objectives.On Monday, the Fed allotted $76.79 billion in one-day reverse repos ...

Business & Finance - Banking & Finance

Morgan Stanley to pay $63mn US mortgage bond settlement: FDIC NEW YORK: Morgan Stanley has agreed to pay nearly $63 million to resolve claims over the sale of toxic mortgage-backed securities to three banks that later failed, the Federal Deposit Insurance Corp said on Tuesday.The settlement resolves lawsuits the U.S. regulator filed as receiver for the three failed banks against Morgan Stanley and other defendants over what the FDIC said were misrepresentations in the offering documents for the mortgage-backed securities.Morgan Stanley declined comment on the ...

Business & Finance - Banking & Finance

Nigeria central bank tells lenders to fund accounts for Thursday's dollar sales LAGOS: Nigeria's central bank told commercial lenders to fund their naira accounts on Tuesday to be able to participate in a currency intervention on the interbank market on Thursday, traders said, citing a message from the regulator. The central bank did not disclose how much it would sell but one trader said the bank sold between $100 million and $150 million at its intervention last Thursday. Last month the bank banned dollar sales to retail ...

Business & Finance - Banking & Finance

Russian central bank considering increase of risk weighting on FX loans TULA: The Russian central bank is considering increasing the risk weighting on loans in foreign currency, a first deputy chairman of the bank said on Tuesday. "We are not talking about shock measures but about a gradual increase of risk weighting on all FX loans... We want more capital to be set aside for risk related to FX operations," Alexei Simanovsky told reporters. He said he expected the bank would begin discussion of the proposal ...