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...Banks have since significantly tightened up scrutiny of clients, with approvals for setting up private banking accounts and new family offices in the city-state now stretching into months and in some cases...
...The strength of the region’s labour market, with unemployment remaining at a record low of 6.4 per cent in January, is a pivotal factor behind the ECB’s patient approach to easing monetary policy, after...
...Its retail unit, which accounts for more than half of the bank’s income, generated €8bn of revenue in the first quarter, up 13 per cent on a year earlier....
...HSBC already reported a $3bn charge on its stake in a Chinese bank earlier this year amid mounting bad loans in the country....
...The BoE data on Tuesday also showed other signs of the impact of higher interest rates fading, with cash deposits in household bank accounts rising in February driven by flows into instant access accounts...
...The bank’s vice-president, Luis de Guindos, said this week it would “need to take the impact of exchange rate movements into account”....
...Instead, the total value of the account is taxed — and in 2024 that was at a level of about 1 per cent....
...“The ECB will take this into account when deciding to ease policy in June,” he said....
...Last October, the bank warned that growth in the region’s developing economies would slow to 4.5 per cent in 2024, with depressed activity in China and lower productivity in other countries contributing...
...Losses in the insurance subsidiary are not reflected in the bank’s consolidated accounts....
...“Major banks have stopped working with Russian clients....
...He added that after the eurozone economy stagnated for five quarters, with the region’s industrial sector “in recession” and bank lending slowing, “disinflation is at an advanced stage and progress towards...
...Officials in the region fear weaker currencies could feed into higher inflation in import-dependent economies and reduce buying power....
...“The Indonesian rupiah has weakened a lot on the back of current account deficit and capital outflows from risk aversion....
...The Indian National Congress, the country’s biggest opposition party, on Thursday said it was unable to continue campaigning because all its bank accounts had been frozen in connection with an ongoing tax...
...In Brussels, former European Central Bank president Mario Draghi gave a speech advocating EU-wide industrial policy....
...The biggest US banks including JPMorgan Chase and Bank of America have criticised the measure, arguing that higher capital requirements would increase borrowing costs and push lending outside of the regulated...
...Zurich and Marsh and a spokesperson for Greensill Bank’s administrator declined to comment....
...The main driver has been the Dutch-speaking region of Flanders....
...Add to that the lacklustre performance of the region’s listed banks and it is hard to believe that fintechs and neobanks are well placed to lead an IPO revival....
...Their first trade, in semiconductor designer Arm, was the only trade out of the six that resulted in a loss, according to the FCA.The jury heard that Mohammed Zina used three bank accounts for the trading...
...Aluminium is used in facades and skyscraper frames; construction accounts for 25 per cent of its demand globally, according to Russia’s Rusal, the world’s second-largest producer of the metal....
...The reason for that was the “significant” excess of reserves they still held at central banks across the region — a side-effect of years of aggressive monetary easing by the European Central Bank....
...In a case brought by the UK’s financial watchdog, it is alleged that Mohammed Zina used three bank accounts for trading based on inside information....
...a collective goal for climate finance, Stiell urged countries to go further to find “innovative sources” of financing — bywords for new taxes and levies as well as working with multilateral development banks...
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