Failed Banking

CHAT

Thursday, 12 December 2019

Latest News for: Failed banking

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Lebanon central bank measures prompt ratings agencies to declare bank defaults

The National 12 Dec 2019

The agency also downgraded both banks' viability ratings to 'f' from 'ccc-', which it said reflected "Fitch's view that the banks have failed and would have defaulted had capital controls not been imposed given the high appetite for withdrawals and the lack of confidence in the banking system"....

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The RBI has let down PMC depositors

Business Line 12 Dec 2019

The RBI unleashes a plethora of measures whenever a bank goes bust ... More than 70 per cent of the bank advances were NPAs ... Their maximum relief is ₹1 lakh from the DICGC.Banking system maze ... Since it has never cautioned people against depositing money in the UCBs, it cannot evade its responsibility to rescue them when the bank fails....

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Why are banks watching Australia cartel case involving JP Morgan, Citi & Deutsche?

Canada Dot Com 12 Dec 2019

HONG KONG/SYDNEY — Investment bankers the world over are paying close attention to court hearings in Sydney in a landmark legal case that alleges cartel activity by Citigroup and Deutsche Bank employees, with JPMorgan witnesses appearing for the prosecution ... The banks failed to sell all the shares to investors and so purchased some themselves....

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Explainer: Why are banks watching Australia cartel case involving JP Morgan, Citi & Deutsche?

Yahoo Daily News 12 Dec 2019

Australian authorities filed criminal charges in June 2018 against the local units of Citigroup <C.N>, Deutsche Bank <DBKGn.DE>, Australia and New Zealand Banking Group <ANZ.AX> and six bankers over a A$2.5 billion (£1.32 billion) stock sale ... The banks failed to sell all the shares to investors and so purchased some themselves....

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HC grants interim relief to Mytrah Energy as PFC holds out NPA threat

The Times of India 12 Dec 2019

Mytrah Energy in its petition appraised the court that they have received notices from PFC and Yes Bank threatening to declare them as NPAs as they have failed to meet debt service obligations ... Pursuant to the RBI circular, both PFC and Yes Bank issued notices to Mytrah to declare it as NPA and warned about consequential action....

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EU joins fight against US tax on 'accidental Americans'

Yahoo Daily News 12 Dec 2019

British citizens born in US risk having UK bank accounts frozen ... The US Internal Revenue Service (IRS), the country’s taxation authority, recently issued an update, saying it would consider each case and wouldn’t automatically fine banks for failing to provide all the tax ID numbers of suspected dual nationals....

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Mick Wallace agrees to give bank keys of Clontarf home after Christmas

The Irish Times 12 Dec 2019

MEP Mick Wallace informed a judge on Thursday by phone from Strasbourg that if he was allowed to spend Christmas in his now re-possessed Clontarf home, he would hand back the keys to Allied Irish Mortgage Bank in March next ... He told Judge Linnane that Mr Wallace would be disputing the remarks attributed to him by an AIB Mortgage Bank Sean O’Carroll....

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Robinhood Rolls Out 1.80% APY Cash Management Account to First Customers

The Beacon 12 Dec 2019

A year after its first attempt to launch a bank-style account, brokerage app Robinhood announced today that it has begun to roll out its new cash management feature " which ... More From NerdWallet 'Perks' Don't Make the Bank " Rates Do Speedier Payment Systems Could Curb Your Costs Outraged at Chime Outage? What You Can Do in a Bank #Fail....

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Furious shareholders front 'incompetent' Westpac executives at AGM

Yahoo Daily News 12 Dec 2019

how Australia dropped the ball on policing the banks ... Under intense pressure from investors, Maxsted was forced to concede that Westpac’s culture might be to blame, and promised that a review by consultants Promontory would get to the bottom of how the bank failed to obey the law and who was responsible....

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China’s Inflation Hits a Record 4.5% as Beijing Prepares to Test Digital Yuan

Bitcoin 12 Dec 2019

This is happening while Chinese state banks and corporations prepare to trial a digital version of the national fiat ... It has been formed alongside a deepening liquidity crisis in the country’s enormous financial system that has led to several small banks failing or suffering bank runs....

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Prosecutors want bail revoked for Giuliani associate

Lebanon Express 12 Dec 2019

His lawyers asked the court earlier this month to loosen the restrictions by allowing to leave his home during the day ... Parnas failed to disclose that he received $1 million from a Russian bank account in September, prosecutor said. Bank records also show that same month he spent more than $70,000 on private air travel, they added ... .......

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Meet the biggest bank you've never heard of

The Citizens 12 Dec 2019

Now it's one of America's biggest banks ... The deal between the nation's largest banking tie-up since 2004 was presented as a merger of equals, forcing the banks to start with a blank slate ... Bank customers likely haven't noticed a major difference from the merger just yet....

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Feds say Rudy Giuliani associate Lev Parnas hid $1M transfer from Russia, demand jail before trial

Yahoo Daily News 12 Dec 2019

All the while, prosecutors wrote, he failed to disclose a $1 million transfer he received from a bank account in Russia in September, as well as plans to buy a property in Boca Raton, Florida, for about $4.5 million, prosecutors wrote. ....