Italian Prime Minister Giorgia Meloni’s party has presented a bill in parliament to separate retail and investment banks – a move that, it approved, would force a radical overhaul of the country’s banking sector.
Britain’s financial watchdog said on Wednesday the introduction of new sustainability disclosure requirements (SDR) for asset managers to prevent greenwashing will be pushed back and softened to avoid excluding many funds.
The Federal Deposit Insurance Corp (FDIC) has hired Newmark Group Inc to sell about $60 billion of Signature Bank loans, the Wall Street Journal reported on Wednesday citing people familiar with the matter.
Saudi Arabia’s Al Rajhi Bank is set to raise $1 billion with five-year sustainable Islamic bonds, a document from one of the banks arranging the deal showed on Wednesday.
The average European bank could withstand a loss of 38% of its deposits without having to sell at a loss government bond holdings or have a fire sale of illiquid assets, Jefferies analysts said.
UBS Group AG has rehired Sergio Ermotti as CEO to steer its massive takeover of neighbour Credit Suisse – a surprise move to take advantage of the Swiss banker’s experience rebuilding the bank after the global financial crisis.
Credit Suisse violated a 2014 plea deal with U.S. authorities by continuing to help ultra-wealthy Americans evade taxes and concealing more than $700 million from the government, the U.S. Senate Finance Committee found on Wednesday.
The White House is readying plans to push federal banking regulators to impose new rules on midsize banks after the collapse of Silicon Valley Bank earlier this month, the Washington Post reported on Wednesday, citing two people familiar with the preparations.
Veteran investment banker Sergio Ermotti is returning to take the top job at UBS as the Swiss lender prepares for the mammoth task of integrating failed cross-town rival Credit Suisse.
