Loews Corp said on Monday its second-quarter profit more than doubled as a jump in investment income cushioned a hit from higher catastrophe losses in its insurance unit, CNA Financial .
Britain’s banks and building societies have until the end of August to justify to regulators why some of their savings rates are low or face sanctions, the markets watchdog said on Monday, as Bank of England rates look set to rise to their highest since 2008.
The chairman of NatWest Howard Davies should remain in office to ensure stability for the bank, a senior official at Britain’s Financial Conduct Authority said on Monday.
Two of Japan’s megabanks reported solid quarterly profits on Monday amid hopes the Bank of Japan’s (BOJ) nudge towards policy normalisation will herald a sea change in their business after years of being squeezed by rock-bottom interest rates.
Bank of Ireland lifted its full-year guidance on Monday and said it expects to increase returns to shareholders after rising interest rates, a growing Irish economy and a shrinking banking sector helped it more than double first half profit.
The Swiss National Bank said on Monday it lost 13.2 billion Swiss francs ($15.14 billion) in the second quarter, despite raking in interest income of nearly 900 million francs on emergency loans to Credit Suisse and UBS .
Indian lender Jana Small Finance Bank JANA.BO has resubmitted its application for an initial public offering, two years after pulling its previous plan due to the pandemic and the last year it could remain private according to local market regulations.
Investors and lenders are slowly confronting an uneasy question – if people never again shop in malls or work in offices the way they did before the pandemic, how safe is their money?
The U.S. Federal Deposit Insurance Corporation (FDIC) set in motion the sale of an $18.5 billion loan portfolio from Signature Bank this week, a set of loans linked to major private equity and investing firms, according to the regulator’s website.
U.S. banks should incorporate the Federal Reserve’s emergency lending facility known as the “discount window” as part of their contingency funding plans, federal banking regulators said in updated guidance on Friday.
