Correction: Bank Of England Reports Problems With Major Payments System - Free Websites, Share News And Posts Publicly

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Table of Contents

Bank of England reports problems with major payments system

The Bank of England said on Thursday that a “global payments issue” was affecting the interbank payments service CHAPS, delaying some high-value and time-sensitive payments including house purchases.

Big central banks are starting to cut rates, slowly

The move to ease monetary policy among major central banks is proving much slower than the race to jack up interest rates from late 2021 to curtail surging inflation.

KeyCorp forecasts bigger drop in annual average loans on tepid demand

KeyCorp forecast a bigger drop in average loans in 2024 than previously anticipated on Thursday, and posted a 5% fall in second-quarter profit as costlier deposits eroded the regional lender’s interest income, sending its shares down 2% in premarket trading.

M&T Bank lifts annual interest income forecast, to resume buybacks

M&T Bank raised its forecast for annual net interest income on Thursday, on expectations that the Federal Reserve’s policy easing would help lower deposit costs and boost loan demand.

US watchdog says paycheck advances subject to lending law

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Blackstone posts modest Q2 profit jump on private equity, credit gains

Blackstone said on Thursday its second-quarter distributable earnings rose 3% from a year earlier, as a jump in asset sales in its private equity and credit divisions more than offset a slump in its real estate arm.

Hit by client exits, PwC to slash China partners’ pay

PricewaterhouseCoopers (PwC) has asked its China-based partners to take a pay cut of up to 50%, two people with knowledge of the matter said, as a regulatory probe into the firm and departure of some of its corporate clients prompt cost cuts and layoffs.

More reforms needed to tackle shadow banking’s ‘hidden leverage’, BoE regulator says

The booming non-bank financial industry has created excessive leverage that poses financial stability risks and more reforms are needed to tackle it, including improving disclosure of positions, a Bank of England regulator said on Thursday.

Some G20 financial regulators overlooking risks linked to nature loss, watchdog says

Financial regulators and supervisors in some G20 countries are overlooking the risks posed by biodiversity loss and deforestation because of insufficient data, focusing instead on climate risks, a report by the G20’s financial watchdog found.

Standard Chartered boosts private bank team with 14 new hires

Standard Chartered has hired more than a dozen new bankers to its private banking teams in Singapore, Hong Kong and the United Arab Emirates in a bid to grow the affluent business, a bank statement said on Thursday.

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