The Federal Reserve Bank of New York said Friday that it received reports of problems with the setting of the London Interbank Offered Rate (Libor) back in 2007, before the issue first came to public attention. The New York Fed issued a statement indicating that as part of its market surveillance efforts following the onset […]
Big banks will look for ways to cut costs, report says
As they face a prolonged low interest rate environment, U.S. banks are likely going to undergo more balance sheet restructuring in the months ahead, says Fitch Ratings in a new report. The rating agency says that the long period of low rates continues to pressure the banks’ net interest margins and investment yields. “Absent a […]
Banks in developed markets took the lion’s share of downgrades in in the second quarter
FAIR Canada says the proposals fall short on being “pro-consumer”
Banking products such as loans and deposits represent a large part of new bank’s portfolio
Probe follows LIBOR scandal
Fitch says it’s premature to speculate about any change in strategic direction by new senior executives
The British government is considering tougher sanctions against those who seriously mismanage banks, including the introduction of a new criminal offence. The UK Treasury said Tuesday that it is consulting on the possibility of introducing criminal sanctions for serious misconduct in the management of a bank. While the criminal law can already sanction behaviour such […]
Jerry del Missier was appointed only last month