EU ministers agree on new bank rescue rulesEuropean finance ministers on Thursday agreed a draft deal on new rules for bank rescues that will only allow bailouts by taxpayers in exceptional cases and shift the burden onto bank owners, creditors and large depositors.
27 June 2013
US fines 'Hezbollah' bank $102 mn for laundering A Lebanese bank accused of laundering money from drugs and other operations for clients tied to Hezbollah militants agreed Tuesday to pay US authorities $102 million to settle the charges.
Halyk Bank may give up on BTA dealThe deal to purchase BTA by Halyk Bank may take longer than planned; one shouldn’t rule out the possibility of Halyk Bank giving up on the idea of purchasing BTA in case Kazakhstan Government doesn’t offer concessions in terms of price.
Deloitte fined $10 mn in US laundering case Big accountancy Deloitte was fined $10 million by New York state on Tuesday for its actions in advising Standard Chartered Bank over money laundering.
19 June 2013
OECD report to help G8 offensive against tax evaders The OECD provided ammunition Tuesday for an expected G8 offensive against tax evasion in a report outlining how to bring about automatic sharing of financial information that would shoot a hole through banking secrecy.
19 June 2013
Group opens up offshore bank account database online A massive database of private offshore banking entities that could be used for tax evasion was posted online for public use Friday by the muckraking group that first reported the files.
15 June 2013
UBS France placed under investigation Paris investigators placed the French branch of Swiss bank UBS under formal investigation Friday on suspicion it helped try to persuade rich French clients to open undeclared accounts in Switzerland.
01 June 2013
France blacklists 17 countries for handling foreign aid France has drawn up a blacklist of 17 countries including Switzerland that do not help investigate foreign aid fraud, banning the use of their banks to help distribute development funds.
28 May 2013
Bank of Japan says no new easing measures The Bank of Japan on Wednesday held off fresh easing measures, saying after a two-day policy meeting that a continuation of steps introduced last month would help Japan overcome deflation.
22 May 2013
Sri Lanka cuts lending rates hoping for growth Sri Lanka's central bank Friday cut benchmark lending rates by 50 basis points, saying the move was to designed to encourage growth amid sluggish economic activity this year.
10 May 2013
Australia cuts interest rate to record low 2.75 pct Australia's central bank cut interest rates to a record low of 2.75 percent Tuesday, citing weak domestic inflation coupled with a persistently high dollar as investment in the key mining sector hits its peak.
Portugal to take two banks to court over swap deals Portugal said Friday it will take banking giants JP Morgan and Santander to court to make them renegotiate deals that have left state-run companies paying hefty interest rates.
Sprint counteroffer to make no difference: SoftBank Japan's SoftBank said Tuesday it still expects its bid to acquire Sprint Nextel will succeed on schedule in July, despite a higher counter-offer from a US firm.
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