Search Results for: central banks
Central Bank of Lithuania on Euro adoption
December 2nd, 2014
Already on the first day of 2015, when the euro will be adopted in Lithuania, the residents will be provided with the opportunities to exchange their currency: apart from the ATM network, it is projected that about 40 commercial ...
Central Bank of Ireland imposes fine of €3,500,000 in respect of IT governance failures by Ulster Bank Ireland Limited
November 13th, 2014
The Central Bank of Ireland (the “Central Bank”) has fined Ulster Bank Ireland Limited (the “Firm”) €3,500,000 and reprimanded it in relation to IT and governance failings by the Firm that resulted in approximately 600,000 customers being deprived of ...
FCA fines five banks £1.1 billion for FX failings
November 12th, 2014
The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ...
Credit Without Banks: Shadow Banking
November 10th, 2014
One of the vivid lessons of the 2007-2009 recession and financial crisis is that in the modern economy, one can’t just think about the financial sector as made up of banks and the stock market. Other financial institutions can ...
Financial Stability Board to Propose Stricter Capital Rules for Global Banks
November 10th, 2014
The Financial Stability Board, a panel made up of central bankers, finance officials and top regulators from the world’s largest economies, plans to announce proposals Monday that would double the amount of money that large banks would be required ...
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 ...
Laiki and the European Central Bank in the New York Times
October 27th, 2014
The bankruptcy and accumulated debts of the Laiki Bank were a key element of the Cyprus financial crisis. A recent article (“To Restore Confidence in Economy, A Test of Europe’s Bank’s”, October 17) in The New York Times discusses ...
Twenty-four European banks fail financial stress tests
October 27th, 2014
One in five European banks have failed crucial tests of their financial strength, leaving a €25bn (£19.6bn) capital hole in the continent’s banking system at a time of renewed fears that the five-year long eurozone crisis may be flaring ...
Central bankers may have no quick fix as markets swoon, economy weakens
October 16th, 2014
Global central bankers, eager to see the economy stand on its own feet, faced the rude reality this week of market turmoil threatening already faltering growth and prolonging world reliance on easy money. Stocks slumped again on Wednesday pushing ...
European banks raise more capital before ECB stress test
October 13th, 2014
Euro zone banks have raised 35 percent more capital ahead of the European Central Bank’s (ECB) latest stress test than they had set aside before the 2011 review, according to a report published by law firm Linklaters. The euro ...
