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  1. Business - Banking & Finance

    Swiss upper house backs US tax deal to protect banks

    Posted Jun 13th 2013, 11:14am by Reuters

    ... Reuters in Zurich Switzerland cleared the first hurdle towards ending a long-running US tax probe after one chamber of lawmakers voted to allow banks to sidestep strict secrecy laws to end ... trillion) in assets. But that haven has come under fire as other countries have sought to plug budget deficits by clamping down on tax evasion, with authorities probing Swiss banks in Germany ...

  2. Business - Banking & Finance

    Societe Generale earnings halve

    Posted May 07th 2013, 02:54pm by Bloomberg

    ... Bloomberg in Paris France's No 2 bank steps up cost cuts after result weighed down by accounting charges Societe Generale earnings dive 50pc Societe Generale, France's second-largest bank, said first-quarter profit dropped 50 per cent, hurt by accounting charges related to its own debt. Net income fell to €364 million (HK$3.7 billion) from €732 million a year earlier, ...

  3. Business - Banking & Finance

    France defends banking reform

    Posted Dec 20th 2012, 12:23pm by AFP

    ... Agence France-Presse in Paris France has introduced a long awaited bank reform bill and dismissed criticism that the measures fell short of campaign promises by French President Francois ... the deposits of savers.” But critics said the measures either put too big a strain on banks already saddled with new regulations, or failed to free the heavily indebted French state from the fate ...

  4. Business - Banking & Finance

    Chong Hing Bank surges to 6-year high on takeover hopes

    Posted Nov 30th 2012, 02:39pm by Bloomberg

    ... Bloomberg Chong Hing Bank Limited shares surged the most in almost six years after the appointment of a chief executive officer from outside the controlling shareholders’ family fuelled ... Lit-chi will step down after more than 50 years at the bank when his deputy, Lau Wai-man, gets approval from regulators to take over, the lender said on November 28. Family- owned banks in Hong ...

  5. Business - Banking & Finance

    Fitch blasts S&P over Credit Suisse mortgage debt

    Posted Dec 04th 2012, 03:50pm by Bloomberg

    ... Bloomberg in New York The AAA ratings assigned by Standard & Poor’s in a mortgage-bond deal by Credit Suisse Group AG are too high, Fitch Ratings said for the second time this year. The amount of protection for a top-rated slice of the us$330 million ...

  6. Comment - Blogs

    China's slow bank privatisation continues

    Posted Oct 12th 2012, 01:48pm by Doug Young

    ... Doug Young Open market purchasing of China bank shares by China's sovereign wealth fund marks the latest support from Beijing, which will continue through a looming bad loan crisis. I've often suggested the controversial idea that Beijing should consider re-privatising its big-four state-owned banks, as all of them still act largely like socialist-era policy lenders rather ...

  7. Business - Banking & Finance

    Greek banks to be recapitalised separately: central bank

    Posted Apr 08th 2013, 11:21am by AFP

    ... Greece’s central bank said the country’s main four lenders would be recapitalised separately, a move that put on hold a planned merger between two of them. “The Bank of Greece confirms that the recapitalisation process for the four systemic banks (National Bank, Alpha, Eurobank, Piraeus) is proceeding normally and will conclude in April in any case,” the central bank said. “All four banks have ...

  8. Raise deposit protection to HK$500,000, board says

    Posted Apr 28th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu and Maria Chan A government agency has proposed lifting the ceiling on Hong Kong's bank deposit protection to HK$500,000. As reported by the South China Morning Post last ... that is cost-effective, provides protection for depositors and prevents moral hazard in banking,'' Mr Li said. The deposit insurance scheme, launched in 2006 and funded by the banks, offered up ...

  9. Banks advised to reveal risky products to buyers

    Posted Feb 24th 2009, 12:00am by Paggie Leung

    ... Paggie Leung Banks should tell clients if the risk level of their financial products has changed, the Hong Kong Monetary Authority has advised, although it did not ask them to do so before the Lehman Brothers minibond saga. 'We think if the risk has increased, banks should let their customers know,' the authority's deputy chief executive, Choi Yiu-kwan, told a special ...

  10. Governments have much to do with bankers' bonuses

    Posted Jan 12th 2012, 12:00am

    ... Jake van der Kamp As the financial year end draws to a close, the bonus payout plans of the world's largest banks are coming under the spotlight again, and governments will likely criticise banks that make excessive payouts. SCMP, January 9 It was hardly a prediction. Only one day earlier British Prime Minister David Cameron let loose on a rant about excessive compensation ...




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