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M&T Bank to acquire People’s United in a US$7bil deal
NEW YORK: M&T Bank Corp is set to acquire People’s United Financial Inc in an all-stock deal valued at more than US$7bil, according to a person familiar with the matter.
Beijing’s new rules up control over lending risk
BEIJING: China unveiled detailed requirements and quantitative indicators to further tighten control over risks in relation to commercial banks’ online lending business facilitated by their partners, the country’s top banking and insurance regulator has announced.
Chinese banks to feel fund-raising pain as investors fear bad loans
BEIJING: Chinese banks are expected to face headwinds raising funds next year as profit-conscious investors cling to the sidelines, expecting a wave of bad loans to hammer the sector and erode already slimming margins.
Insight - BoJ makes stealthy retreat from negative rates
Japan sails into uncharted territory by subsidising regional banks
BoJ’s local bank aid makes rates harder to cut, says ex-official
TOKYO: The Bank of Japan (BoJ) is now even more unlikely to lower its negative interest rate following a move to cushion its impact on regional banks, according to a former BoJ official.
Brunei's Baiduri Bank crowned World’s Best Banks Awards 2020
BRUNEI, Nov14 (Borneo Bulletin/ANN): Baiduri Bank has once again been recognised as the country’s winner in the World’s Best Banks Awards 2020.
Insight - Jack Ma’s blunt words just cost him US$35bil
Apart from labelling the global banking Basel Accords as an “old people’s club, ” Ma said “systemic risk” is not the issue in China. Rather, China’s biggest risk is that it “lacks a financial ecosystem.”
U.S. economy's rebound sets up test of Fed's new pledge
The stronger-than-expected U.S. economic rebound from coronavirus lows could set up an early test for the Federal Reserve's new pledge to keep interest rates near zero and its increased tolerance for inflation.
Senior official: Japan must revise BOJ law to speed digital yen, enshrine inflation goal
Japan must swiftly revise laws to allow the central bank to issue a digital currency, a move that could provide a chance to reform the Bank of Japan's existing mandates and enshrine its inflation target, a senior ruling party official said on Oct 12.
