Banking

Federal Reserve officials not sure about Right Time to Increase Interest Rates

Federal Reserve officials not sure about Right Time to Increase Interest Rates

Federal Reserve officials held minutes of the January 27-28 meeting and it indicated that policymakers don’t actually know when they should begin raising interest rates again or how they should inform about this to the investors.

Interest rates have been very low and some analysts said that they fear economic threats from abroad and the weak job market. However, according to the policymakers, they “observed that a premature increase in rates might damp the apparent solid recovery in real activity and labor market conditions”.

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Turkey's Banking Regulator Takes Control of Bank Asya

Turkey's Banking Regulator Takes Control of Bank Asya

Banking regulator of Turkey has taken control of Bank Asya affiliated with a moderate Islamic movement which is locked in a bitter dispute with the government. According to Bank Asya, its operations would not to be affected.

According to the Banking Regulation and Supervision Agency, saving deposit insurance fund of country had seized control of Bank Asya's management, appointing a new CEO and board. The agency cited insufficient transparency to enable allow for accurate regulation of the bank.

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Gates Foundation supports Mobile-Money Systems

Gates Foundation supports Mobile-Money Systems

Bill and Melinda Gates have funded many projects through their foundation, including improvement in the design of toilets, condoms, creation of urine-powered fuel cells. In their new annual letter, Bill and Melinda Gates have informed that they will now focus on tackling banking.

As per the Gates Family, in the next 15 years, the lives of people in poor countries will improve. Not only this, it will improve much faster than of anyone else's. They have based their statement on advances in agriculture, health and access to education.

Fed will Review Its Supervision Of Big Banks

Fed will Review Its Supervision Of Big Banks

Quite unexpectedly the Federal Reserve has announced that it will be reviewing its supervision and regulation of Wall Street, in order to be convinced that the bank supervisors while making rules and judgements were looking at the relevant information.

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Appointment of new central bank governor wouldn’t be a rush job: hints Nene

Appointment of new central bank governor wouldn’t be a rush job: hints Nene

The appointment of a new Reserve Bank governor would not be a rush job as the President Jacob Zuma had already been working on finding a replacement prior to announcement of incumbent Gov. Gill Marcus' decision to retire from the top bank job, Minister of Finance Nhlanhla Nene said.

Last week, Marcus took the South African markets by surprise by abruptly announcing that she would step down as governor in November. Her term is set to expire in November but she was previously expected to get an extension and continue as governor of the country's central bank.

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Eric Cantor Selected as New Vice-Chairman and Managing Director of Moelis & Company

Eric Cantor Selected as New Vice-Chairman and Managing Director of Moelis & Comp

Moelis & Company MC, a leading global independent investment bank, announced Eric Cantor as its new Vice-Chairman and Managing Director. Mr. Cantor is a former United States Representative for Virginia's 7th Congressional District and former House Majority Leader.

As per the firm, Mr. Cantor will be based in New York office of the global company. It also announced that the company is planning to open its office in Washington very soon.

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BOJ Maintains its View that Economy is Recovering

BOJ Maintains its View that Economy is Recovering

The bank of Japan said the world's third-largest economy is recovering, which is in line with a recent batch of soft data that suggested rise in overseas shipments will repair the damages caused by a sales tax hike in April.

BOJ Governor Haruhiko Kuroda remained optimistic for the economy. Data is all set to be released next week and is expected to show the biggest problems suffered in economic activity since the global financial crisis emerged.

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U.S. Fed to review benchmark funds rate

U.S. Fed to review benchmark funds rate

The U. S. Federal Reserve is reportedly mulling plans to overhaul the Federal funds rate, the main measure of overnight interest rates in the country, as it is preparing for an increase in interest rates.

Currently, the Fed funds rate is based on actual rates that are reported by brokers for overnight loans among U. S. banks.

People familiar with the ongoing discussions at the central bank said the Federal Reserve could reclassify its main target rate so that it could consider a wider range of loans among banks, making the system more steady and reliable.

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China’s central bank cuts requirement to support small firms

China’s central bank cuts requirement to support small firms

China's central bank, People's Bank of China has announced its decision to allow reserve-requirement cut to Industrial Bank Co. and China Minsheng Banking Corp in order to allow the small firms to boost business.

The central bank is aiming to boost economic growth without the need for a large scale economic stimulus programme. The PBOC has approved a half percentage-point cut for Industrial Bank and Minsheng Bank.

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Sir Richard urges banks to support proposed Banking Standards Review Council

Sir Richard urges banks to support proposed Banking Standards Review Council

Sir Richard Lambert has urged all banks and financial institutions to sign up for his proposed Banking Standards Review Council, which will publish yearly updates on bank's reputation.

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