Banking Industry News
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Mastercard says any bank or merchant on its vast network can soon offer crypto services
Mastercard is preparing to announce that any of the thousands of banks and millions of merchants on its payments network can soon integrate crypto into their products, CNBC has learned. That includes bitcoin wallets, credit and debit cards that…
Banks' Debt Sales Are Driving the Corporate Bond Market
U.S. banks are overrun with cash. So they are loading up on debt. The six largest U.S. lenders have issued some $314 billion of bonds so far this year, already the most for any year since 2008, according to Dealogic. Since banks reported their…
Central Banks Are Getting Serious About Digital Money
The rise of Bitcoin and other cryptocurrencies has prompted a major push among central banks to develop their own digital currencies. This week, Nigeria's central bank joined those of the Bahamas and the Eastern Caribbean region in launching the…
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UBS plans digital banking model for the mass affluent in America
ZURICH, Oct 26 (Reuters) - UBS (UBSG.S) wants to build a digitally scalable advice model for affluent clients in the Americas, it said on Tuesday as it reported third-quarter earnings. read more As part of its new 2025 strategic vision, which Chief…
Bond Market Is Sending Growth Warning for Hawkish Central Banks
Flatter yield curves indicate concern about economic health Central banks may turn hawkish for a while before easing: Citi The bond market's age-old measure of growth is flashing an ominous warning as the world's central banks move closer to…
Hong Kong Rejects Pleas From Global Banks to Scrap Zero-Covid
Government said will continue to liaise with finance industry City's primary goal is to open travel with mainland China Hong Kong's government said it will stick to its “zero infection” strategy on Covid-19, rebuffing a plea from…
Cash-Starved North Korea Eyed in Brazen Bank Hack
Think Ocean's 11 —only the robbers are cash-starved, nuke-thirsty North Koreans and their weapons are keyboards, not explosives and guns. In the latest efforts to fund Kim Jong-Un's nuclear ambitions, hackers suspected of working for the…
A Fight Over Biden's Pick for a Banking Watchdog Gets Nasty
Cornell Law School professor Saule Omarova was thrust into the spotlight in September when the Biden administration announced her nomination for the Office of the Comptroller of the Currency, a branch of the Treasury Department that polices some…
UBS to Start Digital Wealth Bank in U.S. to Take on Wall Street
Business to target workplace wealthy with less than $2 million CEO Hamers said the bank could consider an acquisition UBS Group AG is starting a digital wealth manager in the U.S. to grab a bigger share of the country's market for retirement…
Ally Bank acquiring Fair Square Financial for $750 million
Ally Financial is acquiring Fair Square Financial (FSF) for $750 million acquisition. The FSF acquisition will give Ally a fifth revenue source. Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking…
Why are UK banks making so much money and why are their taxes being cut?
UK banks have so far reported bumper profit rises in the third quarter, which they say reflects improving economic forecasts. Other sectors do not seem to be reaping the same benefits, particularly in light of the uncertainty linked to the Covid…
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Bank of Canada to raise rates in Q3 next year, possibly sooner: Reuters poll
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Black-Owned Banks Are Key To Lifting Economic Fortunes Of Black Communities
One of the issues that hinders the economic prospects of Black communities is a lack of access to capital so that firms can invest and grow. A basic problem many Black communities face is that lending can require an in-depth knowledge of those…
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Dollar wavers ahead of central bank meetings in Europe, Japan, Canada
U.S.-China trade call, U.S. earnings supports broad mood AUD firm, safe-haven yen eases Cenbank meetings in Europe, Japan, Canada loom SINGAPORE, Oct 26 (Reuters) - The dollar inched higher against the safe-haven yen while easing a touch against…
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Euro zone banks raised bar for mortgages in third quarter, ECB says
FRANKFURT, Oct 26 (Reuters) - Euro zone banks tightened access to mortgages in the three months to September and expect to continue doing so in the final quarter of the year, a European Central Bank survey showed on Tuesday. ECB policymakers are…
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