06252016Sat
Last update: Sat, 25 Jun 2016 06am

Banking & Finance

Business & Finance - Banking & Finance

ECB bank supervisor Hamalainen quits for personal reasons HELSINKI: European Central Bank Supervisory Board member Sirkka Hamalainen has resigned due to personal reasons, she said on Tuesday, denying a media report of conflict with other board members. Italian newspaper Sole 24 ore earlier on Tuesday reported the resignation was partly due to her disagreements with other board members over how surveillance is applied by the ECB."The cooperation has worked well, this was purely for personal reasons. My term would have ended after 10 months anyway," she told Reuters.Hamalainen, a former ECB Executive Board member, has been working for the ECB's bank supervisory arm since 2014.Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Indonesia, South Korea central bank websites hit by cyber attacks; no losses JAKARTA:The central banks of Indonesia and South Korea have been hit by cyber attacks on their public websites since activist hacking group Anonymous pledged last month to target banks across the world, senior officials in the two countries told Reuters.In response to the attempted hacks, Bank Indonesia (BI) has blocked 149 regions that don't usually access its website, including several small African countries, Deputy Governor Ronald Waas said in an interview late on Monday.He said ...

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Swiss current account surplus narrows in Q1 ZURICH: Switzerland's current account surplus narrowed to around 10 billion Swiss francs ($10.42 billion) in the first quarter, 3 billion francs less the year-ago period, Swiss National Bank (SNB) statistics published on Tuesday showed. "The decline was primarily attributable to trade in goods, where the receipts surplus of 8 billion francs was 2 billion francs lower than in the first quarter of 2015," the SNB said.Copyright Reuters, 2016 ...

Business & Finance - Banking & Finance

Poland's central bank chief Glapinski says plans to support govt policy WARSAW: Poland's central bank governor Adam Glapinski said that he will support the government's economic policy after he was officially sworn in by the Polish parliament on Tuesday. Glapinski also reiterated he will defend the central bank's independence.Asked about the potential Brexit impact on Poland Glapinski said: "When it comes to economy - not that big, except for the zloty."Copyright Reuters, 2016 ...

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Bangladesh central bank officials to meet New York Fed over stolen funds DHAKA: Bangladesh central bank officials will hold a meeting with the New York Federal Reserve next month to try and speed up efforts to recover $81 million stolen by hackers from its account at the Fed, officials in Dhaka said. More than four months after the hackers broke into the computer systems of Bangladesh Bank and transferred money into bank accounts in Philippines using the SWIFT payment network, there is no breakthrough yet in investigations.Most ...

Business & Finance - Banking & Finance

Chinese bank employees get beatings from trainer angered at low scores BEIJING: A motivational trainer in China, upset at the low scores in a session with rural bank employees, handed out beatings for eight of them, shaved the heads of the men and cut the hair of the women. "Spanking was a training model I have been exploring for many years," the trainer, Jiang Yang, said on his microblog, absolving the bank's leadership of direct responsibility.Changzhi Zhangze Rural Commercial Bank, a lender in China's northern Shanxi ...

Business & Finance - Banking & Finance

China central bank says G20 working group calls for expanded use of SDRs HONG KONG: China's central bank said a working group for G20 financial ministers proposed expanding the use of IMF special drawing rights (SDRs) and improving monitoring of capital flows. The meeting of the working group, joined by representatives from G20 central banks and co-chaired by France and South Korea, took place in Seoul on Monday. The proposal also called for increased cooperation over a global financial safety net. Copyright Reuters, 2016 ...