Britain should investigate the manipulation of currency rates, European Union officials said, after Bloomberg reported that traders have been rigging foreign exchange benchmarks for more than a decade.Friday, 14 June, 2013, 3:49am
The European Banking Authority, which sets the rules for banks in the 27 European Union countries, is thought to have approved proposals that would require a cap on bonuses for anyone whose pay is more than €500,000 (HK$5 million).19 May 2013 - 9:23am 1 comment
Twelve of 16 analysts expect Beijing to relax or remove the cap on deposit rates or the floor on lending rates, according to a survey conducted before Xi Jinping's appointment as president tomorrow. A majority sees at least minor changes to the birth and registration policies.14 Mar 2013 - 7:47am
Hongkongers will be keeping one eye on their wallets and another on the television as Financial Secretary John Tsang Chun-wah delivers his budget plan. Tsang is expected to take advantage of the healthy surplus in the government account to offer handouts and tax breaks, although government sources have hinted that these will be less generous than last year's.27 Feb 2013 - 4:55am
Members of the European Parliament and diplomats agreed to reconvene on February 27 after their negotiations ended without a deal on how to implement components of the Basel bank regulations in the EU.21 Feb 2013 - 6:22am
More than a dozen traders at RBS offices in London, Singapore and Tokyo manipulated the London interbank offered rate, which is used to price trillions of dollars worth of loans, from at least 2006 until 2010.7 Feb 2013 - 5:17am
The Financial Services Authority said it found serious failings in reviews of products sold by HSBC, Barclays, Royal Bank of Scotland and Lloyds Banking. The FSA looked at 173 sales to "non-sophisticated" customers and found that more than 90 per cent did not comply with the rules.1 Feb 2013 - 5:23am
Shanghai's banking regulator has told lenders to set up telephone hotlines for complaints about staff misconduct in selling wealth management products.
The move is seen as a gesture towards protecting consumer rights after a slew of irregularities in the banking sector.25 Jan 2013 - 4:56am
When Luo Juncheng first walked into the offices of Hong Kong's Chiyu Bank in August 2009, he was a teenager setting up an account for a company he had bought off the shelf three days earlier. When he returned 10 days later, he set up a personal account with a meagre HK$500 deposit.30 Jul 2013 - 9:06pm
According to mainland media reports, Beijing has set this year's quota for new bank loans at nine trillion yuan (HK$11.11 trillion).
Now, nine trillion yuan sounds like a lot of money. Certainly it's more than the 8.2 trillion yuan in new local currency loans Chinese banks made last year.24 Jan 2013 - 5:30am