Banks are increasingly carrying out checks to verify that their customers are not laundering money, financing terrorism or violating sanctions, De Nederlandsche Bank (DNB) said on Monday. At the same time, the Dutch central bank noted that some banks are delaying or scaling back improvements to their controls and checks. As a result, they have to do more to get their controls in order.
Judo Bank now predicts the Reserve Bank will raise interest rates three times in 2024 to levels not seen in 16 years - increasing the average mortgage repayment by $300 a month.The bank's chief economic adviser, Warren Hogan, forecast the key interest rate will rise to 5.1 percent by Christmas, from a 12-year high of 4.35 percent. Rate hikes in August, September and November this year would see the Reserve Bank of Australia's key interest rate reach levels last seen in December 2008 during the...
First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting Managing Director with effect from April 2024. The bank stated this in a statement signed and made available to PUNCH Online by its acting company secretary, Adewale Arogundade, on Sunday. PUNCH Online earlier wrote that the former managing director of First Bank Nigeria Read More
The European Banking Federation (EBF) is calling on the European Union (EU) to streamline regulation of banks and to declare banks a “strategic sector.” The group is promoting these reforms as a way to boost the competitiveness of the region’s banks, Reuters reported Tuesday (April 16). EBF CEO Wim Mijs told reporters Tuesday during a briefing that Europe must take a […]
By Luciana Lopez and Samantha Delouya, CNN (CNN) — The Federal Deposit Insurance Corporation on Friday said that Republic First Bank has been closed by Pennsylvania state regulators, in what the FDIC said was the first US bank failure this year. “Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the
The Federal Deposit Insurance Corporation on Friday said that Republic First Bank has been closed by Pennsylvania state regulators, in what the FDIC said was the first US bank failure this year. “Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into an agreement with Fulton Bank,...
Colm Kelleher also said UBS was one of the best-capitalized banks in Europe at the UBS Annual General Meeting.
The board of Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday. I, personally or anyone from OCL, have no connection with the payments bank, Vijay Shekhar Sharma said at a webinar. There is an independent board taking care of everything and we have full faith in their capability. The Reserve Bank of India (RBI) in late January had...
Do you agree with Dr. Umar’s money lesson?
Cheryl Burke's proving mo' money really does mean mo' problems -- at least from her POV which she says caused a lot of problems in her marriage to Matthew Lawrence. The "Dancing with the Stars" alum talked about bringing in the big bucks on Amy…
Italy's economy grew only “slightly” in the first quarter, according to the