Category : Banking crisis
Thieves siphoned hundreds of millions of pesos out of Mexican banks, including No. 2 Banorte, by creating phantom orders that wired funds to bogus accounts and promptly withdrew the money, two sources close to the government’s investigation said.
The big six central banks now own 40% of global GDP, which is more than double the 17% they held before the financial crisis.
THE EUROPEAN Central Bank has moved first to protect global financial markets from the potential chaos caused by Deutsche Bank winding down the trading of $1.1 trillion assets on its balance sheet.
China's central bank said on Tuesday it will cut the amount of cash most commercial and foreign banks.
New instrument would require joint euro-area public guarantee.
The German government is seeking to repatriate its physical gold to protect its economy from the threat of a new global economic crisis.
HSBC has agreed to pay $100 million to end private U.S. litigation accusing it of conspiring to manipulate the Libor benchmark interest rate.
The latest trend among European countries of bringing home their gold reserves has been raising concerns in Brussels.
Global oil giant Rosneft has prepared itself for shutdown of SWIFT interbank cash transfer services, should Russia be shut out of the system as part of Western sanctions.
Most Asian central banks will stand pat for now, even with the Federal Reserve poised to raise borrowing costs this week.