Search Results for: Citigroup Inc
Banks Said Poised to Settle With CFTC in FX-Rigging Cases
November 11th, 2014
Banks suspected of rigging the $5.3 trillion-a-day currency market are preparing to reach settlements as early as this week with the main U.S. derivatives regulator, according to a person with knowledge of the cases. The Commodity Futures Trading Commission may levy ...
Singapore Returns Up to $9 Billion to Banks in Rate Probe
November 7th, 2014
Singapore’s central bank gave back as much as S$12 billion ($9.3 billion) that it took from 19 lenders last year as a penalty for trying to manipulate benchmark interest rates. The banks have taken steps to prevent a recurrence ...
BofA triples third-quarter loss due to forex legal expense
November 7th, 2014
Bank of America Corp (BAC.N) tripled its third-quarter loss to $232 million, in a revision that added legal costs related to global investigations into foreign exchange trading at major banks. Regulators are investigating allegations that dealers colluded and manipulated key ...
RBS Returns to Profit, Sets Aside $639 Million for FX Probe
October 31st, 2014
Royal Bank of Scotland Group Plc (RBS), Britain’s largest taxpayer-owned lender, had third-quarter profit that beat analyst estimates even as it set aside 400 million pounds ($639 million) for a currency rigging probe. The bank posted net income of ...
Barclays Third-Quarter Profit jumps, sets aside FX probe
October 30th, 2014
Barclays Plc (BARC), the U.K.’s second biggest bank by assets, said third-quarter profit unexpectedly rose in the third quarter as the bank set aside 500 million pounds ($799 million) to settle probes into currency markets. Adjusted pretax profit rose ...
Fed to stress-test banks with housing scenarios
October 24th, 2014
The Federal Reserve said it will scrutinize how 31 large U.S. banks, including JPMorgan Chase & Co. and Citigroup Inc., would respond to a plunge in equity and housing prices and a sharp downturn in the global economy. The ...
China Factory Gauge Rises as Workers Weather Slowdown
October 23rd, 2014
A Chinese manufacturing gauge rose in October, adding to signs a resilient labor market and export demand are helping the world’s second-largest economy weather a housing market downturn. The preliminary Purchasing Managers’ Index from HSBC Holdings Plc and Markit ...
Forex-Rigging Fines Could Hit $41 Billion Globally: Citi
October 21st, 2014
The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup Inc. (C) analysts said. Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine ...
Citi pulls out of consumer banking in 11 countries, profit jumps
October 15th, 2014
Citigroup Inc said it is pulling out of consumer banking in 11 markets, including Japan and Egypt, as the U.S. bank with the biggest international business looks to cut persistently high costs. The third-largest U.S. bank, built with a ...
U.S. banks ramp up credit card lending but margins may suffer
October 13th, 2014
As traditional Wall Street money makers like stock and bond trading suffer, banks are growing increasingly willing to invest in less glamorous operations: their credit card businesses. JPMorgan Chase & Co, (JPM.N) Citigroup Inc (C.N) and other big banks ...
