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  • September 17, 2014
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  1. Business - Banking & Finance - FINANCE

    Bitcoin value tumbles after BTC China exchange blocks renminbi deposits

    Posted Dec 18th 2013, 06:13am by DANNY LEE, Angela Meng and Amy Nip

    ... global sell-off. The blocking of deposits follows an order earlier this week from the People's Bank of China banning all transactions by third-party payment providers involving digital ... Danny Lee, Angela Meng and Amy Nip BTC among first casualties, as value of the digital currency plummets after People's Bank of China orders third-party payment providers to stop ...

    http://www.scmp.com/business/banking-finance/article/1384688/bitcoin-price-slump-after-beijing-bans-clearing-services
  2. News - World - FINANCE

    Big Cyprus savers could lose 60pc

    Posted Mar 31st 2013, 12:00am by AFP

    ... is needed." Senior Bank of Cyprus official Mario Skandalis confirmed the figures. Asked whether the rate that savers with deposits of more than €100,000 will lose could be as high as 60 per cent, he ... bank face losses of up to 60 per cent, far greater than originally feared under the island's controversial European Union-led bailout plan, officials said yesterday. Lawmakers were ...

    http://www.scmp.com/news/world/article/1203483/big-cyprus-savers-could-lose-60pc
  3. Business - Banking & Finance - FINANCE

    HSBC pays US$550m to settle US claims over mortgage-backed securities

    Posted Sep 14th 2014, 06:35am by AP

    ... Associated Press in Washington Pay-out resolves claims bank misled America's Fannie Mae, Freddie Mac on mortgage securities HSBC agrees to settlement of US$550 million HSBC has agreed to pay US$550 million to resolve claims the bank misled US government housing corporations Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the US housing market ...

    http://www.scmp.com/business/banking-finance/article/1591986/hsbc-pays-us550m-settle-us-claims-over-mortgage-backed
  4. Business - Banking & Finance - FINANCE

    Hong Kong issues first Islamic bond to raise up to US$1b

    Posted Sep 11th 2014, 06:02am by Enoch Yiu

    ... points over five-year US Treasuries, a banker said yesterday. The government announced last month it had appointed several banks including HSBC and Standard Chartered to arrange the global ... month it would be listed in Hong Kong, Malaysia and Dubai. Hang Seng Bank executive director Andrew Fung said the Hong Kong government had a very good credit rating, which would help to sell its ...

    http://www.scmp.com/business/banking-finance/article/1589747/first-hong-kong-sukuk-raise-us1b
  5. Business - Banking & Finance - FINANCE

    Ex-central bank official wary of interest-rate deregulation

    Posted Sep 15th 2013, 12:00am by JANE CAI

    ... Jane Cai xuejun.cai@scmp.com Former central bank official opposes relaxing rules on yuan bank deposits in Shanghai experiment, fearing speculators could exploit this Rate deregulation ... liberalising deposit rates in the free-trade zone, because the interest gap between inside and outside the zone could lead to arbitrage," Wu said on the sidelines of a banking forum in Beijing. ...

    http://www.scmp.com/business/banking-finance/article/1310031/ex-central-bank-official-wary-interest-rate-deregulation
  6. Business - China Business - FINANCE

    Alibaba seeks to raise more than US$24 billion in record IPO

    Posted Sep 06th 2014, 03:13pm by CHIM SAU-WAI

    ... it could beat the record US$22.1 billion raised in 2010 by Agricultural Bank of China. Alibaba is expected to conduct IPO roadshows in Hong Kong, New York and San Francisco in the coming two weeks. ...

    http://www.scmp.com/business/china-business/article/1586594/alibaba-seeks-raise-us243b-ipo-record
  7. Business - Banking & Finance - FINANCE

    Every penny of HK$3 trillion Exchange Fund needed for ‘crises’, says HKMA chief

    Posted Jul 29th 2014, 01:50am by Enoch Yiu

    ... a full guarantee for the city's HK$5.8 trillion of deposits in 2008. The total assets of the local banking sector had grown to HK$17 trillion at the end of last year, Chan said. ... 'vital in a crisis' The head of Hong Kong's de facto central bank has rejected calls from some lawmakers to use part of the city's HK$3 trillion Exchange Fund to pay ...

    http://www.scmp.com/business/banking-finance/article/1561450/hands-hk3-trillion-exchange-fund-says-monetary-authority
  8. Business - Banking & Finance - FINANCE

    Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by DON WEINLAND, George Chen

    ... Don Weinland and George Chen CCTV accuses Bank of China of providing money laundering service Citic Bank also moves money overseas, say sources A day after Bank of China (BOC) was accused by the state broadcaster of breaking foreign exchange rules by helping people take money out of the country, it has emerged a second state bank has also been offering the service. Industry sources told ...

    http://www.scmp.com/business/banking-finance/article/1550351/bank-china-laundering-money-would-be-emigrants-cctv-reports
  9. Business - Banking & Finance - FINANCE

    US regulator sues 15 banks, including HSBC, for rigging Libor benchmark

    Posted Mar 16th 2014, 05:54am by AFP

    ... Agence France-Presse in New York FDIC says interest rate manipulation caused 'substantial losses' to 38 now-closed lenders US regulator sues 15 banks for Libor rigging The US Federal Deposit Insurance Corporation (FDIC) has sued HSBC, Citigroup, Deutsche Bank and 12 other big global banks for manipulating the Libor benchmark interest rate. The manipulation caused ...

    http://www.scmp.com/business/banking-finance/article/1449580/us-regulator-sues-15-banks-including-hsbc-rigging-libor
  10. Business - Banking & Finance - FINANCE

    Online platforms emerge as new champions in lending

    Posted Apr 10th 2014, 01:01am by Adrian Wan

    ... These companies' outstanding loans stood at 13.2 trillion yuan, or about 29 per cent of all outstanding company loans. Commercial banks on the mainland offer a maximum of 3.3 per cent on one-year deposits. The People's Bank of China's benchmark deposit rate is 3 per cent and banks can offer up to 10 per cent more than the benchmark. Ma Weihua, former China Merchants Bank president, said internet ...

    http://www.scmp.com/business/banking-finance/article/1472346/online-platforms-emerge-new-champions-lending

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