Next ECB monetary policy decisions based on data
The next monetary policy decisions on European Central Bank’s interest rates will be based on the incoming data, Philip Lane, chief economist and member of the ECB’s executive ...
After recent banking crisis US banks trying to keep hold onto depositors cash
For months, consumers have clamored for banks to pay out more for deposits as the Federal Reserve raised interest rates. Now analysts say after the banking crisis shook markets last ...
MuchBetter Review: Solution to your digital payment needs
Being in control of your finances has always been a priority, but with the world turning digital, it’s more important than ever to find a payments solution that works ...
German banks hit by wave of complaints from savers
Complaints from consumers about banks and other financial firms in Germany rose by a fifth last year, official data shows, as regulators flex their muscles to shore up trust in ...
Cyprus borrowers association decries low deposit rates
The Association for the Protection of Borrowers (Syprodat) this week said that Cypriot banks have persisted with low deposit rates despite the ECB recently hiking the interest rate by 0.5 per ...
Bank of Cyprus releases Pillar 3 Disclosures
The Bank of Cyprus released its Pillar 3 Disclosures on Wednesday, April 5, which contained forward-looking statements regarding the group’s future financial condition, performance, and opportunities.
The public disclosure requirements of ...
Europe’s banks ramp up bespoke loan trades to reduce risk
European banks are increasingly turning to bespoke deals with investors such as hedge funds to offload some of the risk on multi-billion euro loan portfolios and improve their financial strength, ...
ECB executive pleased at Cyprus’ economic progress
ECB executive committee member and chief economist Philip Lane met with Central Bank of Cyprus (CBC) governor Constantinos Herodotou on Wednesday, after being invited by the latter to the island ...
UBS faces investors after shotgun Credit Suisse takeover
UBS Group AG (UBSG.S) will on Wednesday seek to reassure shareholders that its unexpected takeover of rival Credit Suisse Group AG (CSGN.S) in the biggest bank rescue since ...
Cyprus Business Now
DBRS Morningstar has confirmed the BBB rating with a stable outlook for Cyprus in both domestic and foreign currency over the long term, according to a report recently published by ...
Banks too reluctant to tap cash buffers in a crisis, Bank of England says
Banks are overly reluctant to tap their cash buffers in volatile markets, fearing adverse reaction from regulators and markets, and changes to the rules may be needed, the Bank of ...
Grievances mount in Europe with future wealth in doubt
In separate speeches last year, the leaders of France and Germany warned their citizens of hard times ahead as the global economy encountered challenges ranging from trade conflicts through to ...
Credit Suisse faces anger at final shareholder meeting
Credit Suisse (CSGN.S) will face shareholder anger on Tuesday at what will be its final annual general meeting after the bank was rescued last month by Swiss rival UBS (...
Mitsubishi UFJ to postpone AT1 bond issuance in Credit Suisse fallout
Mitsubishi UFJ Financial Group Inc (8306.T) will postpone the issuance of Additional Tier-1 (AT1) bonds to mid-May or later from late April, a spokesperson said on Monday, after the Swiss ...
Eurobank Cyprus receives international award for private banking
Eurobank Cyprus on Monday announced that it has been voted as the best bank for international private banking in Cyprus for 2023, an award bestowed upon the bank by Euromoney magazine ...
UBS may cut up to a third of jobs after Credit Suisse takeover
The bank created by the UBS (UBSG.S) takeover of Credit Suisse (CSGN.S) is poised to reduce its workforce by 20-30 per cent, Swiss daily Tages-Anzeiger reported on Sunday, ...
Banking crisis: Doing ‘whatever it takes’
By Maria Demertzis
The early March failure of Silicon Valley Bank (SVB) in the United States, and the sale of Credit Suisse to UBS in Switzerland are reminders of an ...
Norwegian wealth fund seeks Credit Suisse boardroom shake-up
Norges Bank Investment Management will vote against the re-election of Credit Suisse (CSGN.S) Chair Axel Lehmann and six other directors at the Swiss lender’s annual general meeting on ...
US regulator seeks sale of Silicon Valley Bank, Signature Bank portfolios
The Federal Deposit Insurance Corporation (FDIC) has retained advisers to sell the securities portfolios that the new owners of failed Silicon Valley Bank and Signature Bank rejected, according to people ...
UAE cancels licence for Russia’s sanctioned MTS Bank
The United Arab Emirates’ central bank on Friday said it will cancel the licence it granted last year to Russia’s MTS bank, which was placed under British and US ...
Britain’s digital banks need support amid banking turmoil
Britain’s digital banks will need support over the next few weeks and months to help them cope with the market fallout from the collapse of Silicon Valley Bank, a ...
Keravnos meets Herodotou to discuss banking system
Finance Minister Makis Keravnos met on Friday with Central Bank Governor Constantinos Herodotou to discuss issues in the banking system, a day after he had met with the heads of ...
Future for shock-absorbing bank debt uncertain in Credit Suisse aftermath
As the dust settles on a surprise move by Switzerland to write down $17 billion of bonds under Credit Suisse’s rescue, the market for debt designed as a shock absorber ...
Hellenic Bank completes Project Starlight, reduces NPE ratio to 3.6 per cent
Hellenic Bank this week released a statement announcing the completion of Project Starlight, which refers to the sale of a non-performing exposures (NPE) portfolio, combined with the sale of APS ...