Search Results for: UBS
Russia Central Bank Wants to Boost Gold, FX Reserves to $500B in Few Years
June 5th, 2015
The Bank of Russia plans to boost its depleted international reserves to $500 billion to hedge the crisis-struck economy against capital flight and new shocks, the central bank chairwoman said Thursday. Speaking at a banking conference, Elvira Nabiullina said ...
HSBC pays out £28m over money-laundering claims
June 5th, 2015
Geneva prosecutor agrees to close investigation into HSBC in return for the financial settlement HSBC has been ordered to pay a record 40m Swiss francs (£28m) and been given a final warning by the Geneva authorities for “organisational deficiencies” which ...
IMF Urges Fed to Wait on Interest Rates Until 2016
June 5th, 2015
The International Monetary Fund on Thursday slashed its forecasts for U.S. economic growth, calling for the Federal Reserve to hold off its first rate increase in nearly a decade until 2016. In its annual review of the U.S. economy, ...
SaxoTraderGO success prompts Saxo to close Cyprus MT4 offering
June 5th, 2015
Following the successful launch of SaxoTraderGO, Saxo’s new, intuitive, multi-asset trading platform, Saxo Capital Markets CY Ltd., a fully owned subsidiary of Saxo Bank, will cease its operations as a provider of retail MT4 solutions and its MT4 platform will be ...
NYDFS Announces Final Bitlicense Framework for Regulating Digital Currency Firms
June 4th, 2015
Benjamin M. Lawsky, Superintendent of Financial Services, today announced the release of the New York State Department of Financial Services’ (NYDFS) final BitLicense – the first comprehensive framework for regulating digital currency firms. The BitLicense – which is the ...
SafeCharge: Strategic partnership and investment
June 3rd, 2015
SafeCharge (AIM: SCH), the global provider of payments services, technologies and risk management solutions for online and mobile businesses, announces that it has agreed to enter into a strategic partnership with German based FinTech Group AG (“FinTech”) which is ...
Fitch: Steep Emerging-Market FX Reserve Falls Likely to Continuee
June 3rd, 2015
Global EM FX reserves have fallen by USD524bn since June 2014, surpassing the drop in 2008-2009, and further declines are probable. Emerging-market (EM) official foreign exchange (FX) reserves have been falling steadily by an average of USD58bn a month ...
Strengthening investment key to improving world economy’s B-minus grade, says OECD
June 3rd, 2015
Global growth will gradually strengthen towards its pre-crisis trend rate by late 2016 as activity becomes more evenly shared across the major economies and overall external imbalances are less marked than in the run-up to 2007, according to the ...
Deutsche Bank to launch three tech startup labs in 2015
June 3rd, 2015
Deutsche Bank aims to launch three technology innovation labs in Berlin, London and Silicon Valley this year designed to accelerate development of so-called “fintech” companies which could aid the banking sector and its clients. Germany’s largest lender, grappling with ...
IOSCO: Joint Forum releases report on credit risk management across sectors
June 3rd, 2015
Today the Joint Forum released its report Developments in credit risk management across sectors: current practices and recommendations. The report provides insight into the current supervisory framework around credit risk, the state of credit risk management at firms and ...