Tag Archive for Financial Institutions

Italy money laundering reports skyrocket: central bank | Reuters

(Reuters) – Italy’s worst economic crisis since World War Two has been a boon to the country’s mafia organizations with reports of suspicious bank transactions rocketing, the Bank of Italy said on Wednesday. Reports of suspected money laundering through financial institutions rose 147 percent in 2010-11 from the previous two years “and they are still…

Primary Dealers see 50/50 chance of more Fed QE! | Reuters

(Reuters) – Wall Street economists see an increased chance the Federal Reserve will launch another round of monetary stimulus to support the U.S. economy, following data showing jobs growth slowed markedly for a third straight month in May. The median of forecasts from 15 primary dealers – the large financial institutions that do business directly…

Fed’s George: Board Members Should Resign if Undermining Confidence – WSJ

A Federal Reserve regional bank president on Thursday said board members should resign if they undermine public confidence in the central bank system. In the wake of recent criticism of J.P. Morgan Chase & Co. Chief Executive James Dimon‘s role on the New York Fed board, Federal Reserve Bank of Kansas City President Esther George…

Fitch Warns Banks Must Raise $566 Billion in New Capital – NYTimes.com

The world’s largest banks must raise a combined $566 billion to satisfy new capital requirements, Fitch Ratings said on Thursday, as the authorities demand that banks hold more cash in reserve to protect against future financial shocks. The figure represents a 23 percent increase on what the banks currently hold in reserve and will most…

Elizabeth Warren: ‘That’s the strongest argument for a modern Glass-Steagall’ – The Washington Post

Ezra Klein interviews Elizabeth Warren- who chaired Congressional oversight panel on TARP and who is now running for the Senate in Massachusetts. EK: I agree that complexity is where lobbyists and lawyers work their dark magic. But when I talk to people in the industry about this, they say that simple rules sound great, but…