The European Union’s securities watchdog said on Thursday it had ordered top rating agencies to take action to ensure that their ratings of collateralised loan obligations (CLOs) are accurate and independent, after an investigation raised some concerns.
France and Germany agree on most of the proposed changes to European Union fiscal rules but differ on the treatment of investment spending when the deficit is above EU limits, French finance minister Bruno Le Maire said on Thursday.
Russia’s No. 2 lender VTB will complete its integration of Otkritie Bank by the end of 2024, ahead of schedule, Georgy Gorshkov, deputy president and board chairman, said on Thursday.
Earthquakes in Turkey and Syria, wildfires in Hawaii and other natural catastrophes have caused an estimated $100 billion in insured losses so far in 2023, down from the previous year but still well above normal, Swiss Re estimated on Thursday.
Russian banks’ profits will reach record levels around 3.3 trillion roubles ($36 billion) this year, the central bank said on Thursday, before dropping off by about 1 trillion roubles in 2024 as high interest rates cool lending growth.
Societe Generale , France’s third-biggest listed bank, has agreed to sell two African subsidiaries in Burkina Faso and Mozambique to pan-African banking group Vista Group, the companies said on Thursday.
Robinhood Markets on Thursday launched crypto trading for customers in the European Union, expanding into a market with greater regulatory clarity at a time when crypto firms are facing intense scrutiny in the United States.
Blackstone’s Mortgage Trust shares fell as much as 9% on Wednesday after short-selling hedge fund Muddy Waters said that it had taken out a short position in Blackstone’s real estate investment trust.
Wall Street bank bosses warned lawmakers on the Senate Banking Committee on Wednesday that capital hikes and other new regulations being contemplated by U.S. bank regulators will hurt lending, capital markets and the broader economy.
Citigroup Chief Financial Officer Mark Mason said on Wednesday the bank’s largest reorganization in decades will cost about $1 billion for charges related to restructuring and severance.
