Banks hoarding cash ahead of the ECB’s new “stress tests” are holding back vital funding from euro zone businesses, according to consultancy EY. . . .
http://hereisthecity.com/en-gb/2014/03/31/banks-hoarding-cash-ahead-of-ecb-stress-tests/
Wishful Thinking or Effective Threat? Tightening Bank Resolution Regimes and Bank Risk-Taking
Giant US retailer Wal-Mart has sued credit card firm Visa for $5bn (£3bn), alleging that Visa worked with large banks to fix the price of transaction fees it charged to Wal-Mart. . . .
Savers locked into rip-off pensions and investments could be given a free exit or moved to better deals, regulators will say next week.
The City watchdog is planning an inquiry into 30 million policies sold by insurance companies from the Seventies to the turn of the Millennium, The Telegraph can disclose. . .
Switzerland’s competition commission is investigating possible manipulation of foreign exchange rates at several British, US and Swiss banks. . .
BNP Paribas SA (BNP) will seek to boost revenue at its corporate and investment bank by more than 6 percent a year through 2016, as France’s biggest lender sets out growth plans amid signs Europe’s economy is recovering. . .
Credit Suisse has agreed to pay $885m (£536m) to settle claims it mis-sold mortgage-backed securities in the US before the financial crisis . . .
The Bank of England’s supervision of financial market infrastructures – Annual Report is published . . .
http://www.bankofengland.co.uk/publications/Pages/news/2014/056.aspx
Speech by Mr Stefan Ingves, Governor of the Sveriges Riksbank and Chairman of the Basel Committee on Banking Supervision, at the Affärs Världen Bank and Finans Outlook, Berns, Stockholm, 19 March 2014. . .
JPMorgan Chase & Co. (JPM) and HSBC Holdings Plc (HSBA) face a European Union complaint as soon as next month as the bloc’s antitrust chief races to fine a quartet of financial companies that snubbed rate-rigging settlements. . .