HSBC is ‘cast-iron certain’ to breach banking rules again, executive admits


Exclusive Bank’s global head of sanctions told monitors in private meeting that HSBC’s size made large-scale regulatory breaches a virtual inevitability A senior HSBC executive has privately admitted that the bank is “cast-iron certain” to have another major regulatory breach in the future, and is struggling on multiple fronts to clean up its worldwide operations. Global head of sanctions Lee Hale – whose recorded comments appear to contrast with public statements from HSBC’s chief executive Read more [...]

Bank of America Merrill Lynch Provides More Than $3.2 Billion in Community Development Banking Lending and Investing in 2014


Dateline City: NEW YORK Scope of Projects Impacted Wide Range of Constituents in Communities Nationwide Bank of America Merrill Lynch Community Development Banking provided more than $ 3.2 billion in loans, tax credit equity investments and other real estate development solutions to over 550 clients in 2014, creating more than 13,000 Read more [...]

BBVA Makes Banking Simple


As one of the more innovative large banks in the country, BBVA , a Sunbelt bank owned by the Spanish banking giant, is watched closely. So when it recently announced that it will acquire Simple through U.S.-based BBVA Compass Bancshares, people in the world of banking took notice. Some thought the price, said to be around $ 117 million for a firm with 100,000 customers, was ridiculously high; others noted that it seemed a bargain compared to the way a company like Square is being valued at  $ Read more [...]

Bank of America Merrill Lynch Provided More Than $3.3 Billion in Community Development Banking Lending and Investing in 2013


Dateline City: CHARLOTTE, N.C. Financing and Equity Commitments Will Help Create 13,600 Affordable Housing Units Across the U.S. Through its Community Development Banking business, Bank of America Merrill Lynch provided more than $ 3.3 billion in loans, tax credit equity investments and other real estate development solutions in 2013. Those commitments were up more than 25 percent from 2012 lending and investing and will help create more than 13,600 affordable housing units. Working Read more [...]

The banking industry’s biggest problem isn’t bonuses or market share | Ha-Joon Chang


The only way to make the sector pursue long-term viability instead of short-term greed is to change the rules of the gameLast Friday, in another of those agenda-setting speeches for which he has rightly become famous, Latest financial, market & economic news and analysis | theguardian.com Read more [...]

Slovenia banking debts raise fears of EU bailout


The country's ailing banking sector needs to raise reserves by €4.8bn (£4bn) to meet capital targetsSlovenia put the EU on red alert on Thursday following a warning that its ailing banking sector needs to raise reserves by €4.8bn (£4bn) to meet capital targets.In the wake of an audit of the country's major lenders, central bank governor Bostjan Jazbec said the capital was needed to cover bad loans built up since the financial crisis.He said the shortfall could be covered without a bailout by Read more [...]

BofA Merrill’s Trade Pro® Wins Award From Banking Technology


Dateline City: NEW YORK Named Best Use of IT in Wholesale/Transaction Banking Bank of America Merrill Lynch, a recognized leader in global treasury and trade solutions, today announced that its online portal Trade Pro®has been awarded “Best use of IT in Wholesale/Transaction Banking” in the Banking Technology magazine 2013 Awards. Launched in March 2012, Trade Pro is an electronic platform used by large corporate and middle-market companies that seek to enhance Read more [...]