Banks News Updates
Royal Bank of Scotland announces assets sale (AFP via Yahoo! News)
7 January 2010
State-rescued lender Royal Bank of Scotland said Friday it had agreed to sell assets to Aberdeen Asset Management for almost 85 million pounds (95 million euros, 135 million dollars).
Bank of Korea keeps interest rate at record low (AP via Yahoo! News)
7 January 2010
South Korea's central bank left its key interest rate at a record low for an 11th straight month Friday amid government concern that a solidfying economic recovery could be derailed by higher borrowing costs.
Argentine president fires central bank head (CNN)
7 January 2010
Argentina's central bank president was removed from his post by presidential decree, a possible final blow in a political standoff between the banker and the executive.
Argentina bank chief defies call to resign (CNN)
7 January 2010
A political standoff over the head of Argentina's central bank materialized Wednesday after the bank's president declined to support a plan to use $6.5 billion in reserves to pay debt.
Argentine bank chief resigns, vows legal action (AFP via Yahoo! News)
7 January 2010
Argentina's Central Bank chief has stepped down but promises to go to court over President Cristina Kirchner's decree Thursday that he be removed from office, his spokesman has said.
Argentine President Fires Central Bank Chief (International Herald Tribune)
7 January 2010
President Cristina Fernandez fired Argentina’s central bank chief amid a dispute over using international reserves to pay debt.
NY Fed sought to limit AIG bank disclosures (Reuters via Yahoo! News)
7 January 2010
The New York Federal Reserve Bank under Timothy Geithner urged insurer AIG in late 2008 to limit disclosures about its payments to banks after getting a $180 billion government bailout, emails released on Thursday showed.
Picking up the Icesave tab - Globe and Mail
7 January 2010
Picking up the Icesave tabGlobe and MailIcesave was an online banking program of the Icelandic bank Landsbanki, offered in Britain and the Netherlands under EU rules, which paid British and Dutch ...
Oil stays below 83 dollars in Asian trade - MSN Philippines News
7 January 2010
Oil stays below 83 dollars in Asian tradeMSN Philippines NewsAs the US dollar strengthens that has an opposite effect on oil prices," said Ben Westmore, a minerals and energy economist for the National Australia Bank ...
London's Investment Banks Double Pay to Lure Back City Talent - Bloomberg
7 January 2010
London's Investment Banks Double Pay to Lure Back City TalentBloombergZurich-based UBS and Bank of America Corp. are the top equity traders in Europe by the volume of shares traded, according to a 2008 ranking by Greenwich ...
WHY ICELAND DOESN'T WANT TO PAY - Globe and Mail
7 January 2010
WHY ICELAND DOESN'T WANT TO PAYGlobe and Mail08, 2010 2:56AM EST Hannes H. Gissurarson, a former board member of Iceland's central bank and a professor at University of Iceland, offers four reasons why ...
Indian diaspora must think beyond remittances: Manmohan Singh - North India Times
7 January 2010
Indian diaspora must think beyond remittances: Manmohan SinghNorth India TimesMost remittances are placed in bank deposits. Foreign direct investment in India by overseas Indians is low and far short of potential," he said. ...
Icelandic, Greek sagas show sovereign risks - Reuters UK (blog)
7 January 2010
Icelandic, Greek sagas show sovereign risksReuters UK (blog)European Central Bank Executive Board member Juergen Stark delivered a sharp rebuke to Greece in Italy's Il Sole 24 Ore newspaper, saying in essence that ...
Nikkei leads Asia up, China falls on policy worry - WBFO
7 January 2010
Nikkei leads Asia up, China falls on policy worryWBFOThe central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since August. ...