Banks

BoJ's Nakaso defends negative rates, says not meant to pinch banks

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NEW YORK The Bank of Japan designed its new negative interest rates to avoid hurting bank profits, and the recent drop in bank stocks is "overdone," the BOJ's deputy governor said on Friday in what amounted to a defense of last month's shock policy decision.

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Deutsche Bank to buy back more than $5 billion in bonds 12 Feb 2016

FRANKFURT Deutsche Bank will buy back more than $5 billion in senior debt, it said in a statement on Friday, sending its shares higher.

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Commerzbank returns to profit, spurs European bank relief rally 12 Feb 2016

FRANKFURT Commerzbank returned to profit in the fourth quarter as bad loan provisions fell and it announced it would close its "bad bank" of troubled loans, sending its stock sharply higher and triggering a rally in European banking shares.

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Barclays aggressively cuts dollar/yen forecasts amid sharp falls 12 Feb 2016

LONDON Barclays aggressively cut its dollar/yen forecasts on Friday, saying the greenback will fall to 95 yen by the end of the year - more than 20 percent lower than the 120 yen previously reckoned - after a surge in the Japanese currency.

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Ex-Rabobank traders lose bid in U.S. to overturn Libor convictions 12 Feb 2016

NEW YORK Two former Rabobank traders on Thursday lost a bid to overturn their convictions arising from an international investigation into the manipulation of Libor, the leading global benchmark for pricing financial transactions.

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S&P cuts Deutsche Bank's Tier 1 securities rating to B+ from BB- 12 Feb 2016

Rating agency Standard and Poors (S&P) on Thursday said it cut Deutsche Bank AG's Tier 1 securities rating to B+ from BB- and also lowered Deutsche Bank Capital Finance Trust I perpetual Tier 2 instrument rating to BB- from BB.

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U.S. oil hits 12-year low on stockpile surge, risk aversion 11 Feb 2016

NEW YORK U.S. crude slid on Thursday, hitting 12-year lows as domestic stockpiles grew, Goldman Sachs called for depressed prices until the second half of the year and investors fled from equities and other risky assets into safe havens such as gold.

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Russia central bank says alerted Deutsche Bank to suspicious trades from 2014 11 Feb 2016

MOSCOW Russia's central bank told Deutsche Bank about suspicious trades made by the German bank's clients via its Moscow office in 2014 and an investigation began after that, a senior central bank official said on Thursday.

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SocGen shares slide after cautious 2016 outlook 11 Feb 2016

PARIS Societe Generale's French retail network is unlikely to increase net banking income this year and the lender's aim to boost revenue from investment banking will be a challenge, it said on Thursday.

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HSBC drops plan for 2016 pay freeze in speedy backpedal 11 Feb 2016

LONDON HSBC , Europe's largest bank, has dropped plans to freeze pay this year, according to a memo by Chief Executive Stuart Gulliver seen by Reuters, reversing a cost-cutting decision made less than two weeks ago.