Addressing Scotiabank shareholders for the first time as the bank’s new president, Brian Porter discussed opportunities in each of the bank’s business lines. Read: Banks prepare for new leaders In Canadian banking there will be a heightened focus on deposits and payments. “Deposits are the lifeblood and circulatory system of any bank,” he says. “Therefore, […]
There has been a dramatic shift in the OECD central banks’ approach to their monetary policies since 2007. The old practice of anticipating inflation has now given way to central bankers being more reactive to inflationary outcomes, reports FT.com. One of the many implications of this change is its impact on currency movements causing emerging […]
TD Bank Group chief executive Ed Clark announced his retirement effective November 1, 2014. Read: TD snaps up Epoch Holding Corporation Clark will be succeeded by Bharat Masrani, group head U.S. personal and commercial banking, TD Bank Group, who will take over as the group’s president and CEO on the day of Clark’s retirement. Clark […]
Despite Minister Flaherty’s push to cool an overheated housing market and stop banks from offering low mortgage rates, many aren’t co-operating. In fact, some Canadian banks continue to advertise rates as low as 2.89% within their branches, says the Globe and Mail. This includes BMO — a Montreal branch was offering the 2.89% rate just […]
From the ruins of the recent banking crisis emerges a book that shows why banking is more dangerous than most think. Reviewed by the chief economics commentator at the Financial Times, Martin Wolf, the book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It, dispels a host of myths about […]
The Reserve Bank of India is probing three banks for their alleged roles in money laundering based on a sting operation carried out by an Indian news website.
HSBC may be trimming thousands more employees.
Why hasn't anyone from HSBC been tried for money laundering?
If unemployment soars and equity prices tumble, top U.S. banks will be better-equipped to cope than they would have been before the financial crisis.
U.S. Attorney General Eric Holder has suggested that some banks have become too large, making it difficult to bring criminal prosecutions against them, “and feeding suspicion among lawmakers who believe that some bankers are ‘too big to jail,’” reports FT.com.