Global Banking Industry

U.S. Banking

U.S. Senate Banking Committee approved three Federal Reserve Governor nominations and two Inspector General nominations

The Banking Committee approved the nominations of Janet L. Yellen for Vice Chair and a member of the Federal Reserve Board of Governors, Peter A. Diamond and Sarah Bloom Raskin for membership on the Federal Reserve Board of Governors, Osvaldo Luis Gratacós Munet for Inspector General of the Export-Import Bank, and Steve A. Linick for Inspector General of the Federal Housing Finance Agency. ...

New Federal Reserve Overdraft Rules for Debit and ATM Cards

New Federal Reserve rules give debit and ATM card users additional options regarding overdrafts. In the coming months, banks, credit unions, and other financial institutions must offer you the ability to make decisions about overdrafts for transactions made with your debit or ATM cards. ...

FDIC's Bank Failures List

The Federal Deposit Insurance Corp. lists bank failures updated through July 30, 2010 ...

FRB: 5 Tips for Getting most from your credit cards

The Federal Reserve help tool suggests dos and don'ts to manage your credit card account ...

Moody's cuts outlooks on BofA, Citi, Wells Fargo

Moody's Investors Service on Tuesday July 27 lowered its outlooks to "negative" on certain ratings for Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., citing a new law that is expected to reduce the likelihood of government bailouts of banks. ...

The American Bankers Association testifies on impact of interchange fees on small businesses

The American Bankers Association stated July 29 that price setting of interchange fees will ultimately harm consumers, and called for a repeal of the interchange amendment that became part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. ...

FHA's mortgage review board takes action against hundreds of lenders

The Federal Housing Administration's Mortgagee Review Board (MRB) published July 26 a notice in the Federal Register to announce dozens of administrative actions against FHA-approved lenders who failed to meet its requirements. ...

U.K. Banking

The British Bankers Association answers Which? charges on interest rate notifications

Banks will always inform customers of any significant downward movement in interest rates on their accounts. This is stipulated by the Financial Services Authority in its banking regulations. ...

Which?: Future of Banking Commission report is published

The Future of Banking Commission report was hand-delivered to the Chancellor, George Osborne. The report's recommendations include calling for banks to put consumers' long-term needs ahead of short-term profits. ...

Ombudsman: insurance complaints connected with travel or holidays

This selection of recent travel and holiday-related case studies illustrates some of the circumstances that can give rise to insurance complaints. ...

Council of Mortgage Lenders' comments on Bank of England mortgage data

The number of loans approved for house purchase fell by 4% on a seasonally adjusted basis from 49,641 in May to 47,643 in June and was down 6% on a year ago. This is the first time the annual rate has turned negative since April last year, but it is likely to remain so in future months as comparison is made with a rather stronger market towards the end of last year. ...

BIS: Financing a private sector recovery

The Business Secretary and the Chancellor want to work with business and the financial community to ensure that access to finance is not a barrier for companies looking to invest and boost the growth of the economy. ...

BBC's interview with Business Secretary Vince Cable about bank lending

Banks are set to come under renewed pressure from the government to increase lending to small firms. Business Secretary Vince Cable said banks had to lend to "good British companies" and measures may be needed. ...

Euro Zone Banking

Moody's Investors Service cut the ratings of eight Portuguese banks

Reuters: Moody's Investors Service on Wednesday, July 14, cut the ratings of eight Portuguese banks by between one and two notches and mostly with a negative outlook, a day after a two-notch downgrade of the country's sovereign debt. ...

S&P: EU Bank Stress Test Results Show No Surprises, But Bring Greater Transparency

At first glance, the results of the EU banking supervisors' stress tests, published on July 23, 2010, appear to indicate that the European banking sector is relatively resilient. ...

S&P's Report On The Difficult Conditions In The Funding Markets For Banks In Europe

Standard & Poor's Ratings Services commented about the difficult conditions in the funding markets for banks in Europe, in a report published today, July 28, "European Bank Funding: Interest Rates Are Low, But The Uncertainties Are High." The report found that: ...

Ireland: Central Bank and Financial Regulator Begins Strategic Review of Credit Union Sector

The Central Bank and Financial Regulator today, July 27, announced the appointment of Grant Thornton to conduct an independent strategic review of the credit union sector in Ireland. The review was requested by the Minister for Finance to assist in the development of a modern credit union sector, identifying the legislative and regulatory framework required to build a strong and sustainable sector. ...

The Brookings Institution: Basel III, the Banks, and the Economy

By November, banking regulators are likely to complete an international agreement that will determine how strong banks must be. Tough new rules on capital and liquidity are being negotiated through the Basel Committee on Banking Supervision (Basel Committee). ...

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