More than seven banks are changing projecting that the European Central Bank would cut its interest rates after its meeting this November.
Commercial banks
UBS AG and Credit Suisse Group AG may need to downsize with higher ratios
With Switzerland requiring higher capital ratios, banks may be hard pressed to continue with their normal operations according to JPMorgan Chase analysts.
Westpac works for another banner year in 2014
Westpac CEO Gail Kelly reports a good 2013 and expects a better year for 2014. Westpac is set to increase its focus on growth for 2014, as it looks forward to another record making profit season.
Deals of the day - M&As
The following bids, mergers, acquisitions and disposals were reported on Friday The following bids, mergers, acquisitions and disposals were reported on Friday:- Hotel operator Hilton Worldwide Inc, owned by private equity firm Blackstone Group LP, is aiming to launch its initial public offering in the week of Dec.
US Fed Reserve require stress tests on banks
Several banks required to undergo Fed Reserve stress tests to determine capacity of capital cushions on hypothetical adverse conditions.
Latest News
Morgan Stanley, in the wake of outrage from bailouts in the last crisis, is seeking investments that provide long term social benefits for the community.
A USD1 billion syndicated loan was formalized by Banco do Brasil with five international lending institutions.
BicBanco's 72% would be acquired by China Construction Bank Corp for BRL1.62 billion. China's second largest financial institution in terms of assets, China Construction Bank Corp, had entered into an agreement to pay BRL1.
For an undisclosed amount, Wells Fargo settles with FHFA on issue of faulty mortgages issyes In an agreement to settle claims with the Federal Housing Finance Agency, Wells Fargo agreed to pay less than USD1 billion to resolve the issue on the bank's alleged knowledge of the faulty nature of mortgage bonds sold to Fannie Mae and Freddie Mac.
Without government backing, Citigroup is now offering mortgage backed securities backed by prime jumbo mortgages mortgages from private sources.
The Commercial Bank of Qatar is set to undertake a perpetual bond issue to cover the acquisition of Turkey's Alternatifbank.
Like many other Gulf Cooperation Council banks, AUB is now seeking investments overseas for diversification purposes.
BOJ raised gross domestic product to 1.5% but stopped short of projecting a potential 2% inflation within 2 years.
Three Federal Home Loan Banks withdrew their objections at the settlement of a New York lawsuit offered by the Bank of America for its Countrywide unit.
