Fitch Ratings has changed its outlook for six major Chinese banks from Negative to Stable on Tuesday, signaling a more optimistic view of their future performance. The revision includes five state-owned lenders and China Merchants Bank (CMB), reflecting confidence in continued government...
UniCredit S.p.A CEO Andrea Orcel (pictured) confirmed that the Italian bank is seeking regulatory approval to increase its stake in Germany's Commerzbank to 29.9%, but ruled out they are looking for a purchase.In an interview published on Thursday by Il Messaggero, Orcel emphasized that...
The Chinese government announced Thursday that it had appointed Lan Fo'an as head of the Communist Party in the Ministry of Finance.
According to the press release, Lan will replace Liu Kun (pictured), the current Minister of Finance.
After today's appointment, Lan is expected to take over as...
The Communist Party of China named Li Yunze, Vice Governor of Sichuan province, Head of the National Financial Regulatory Administration (NFRA), Chinese Banking and Insurance Regulatory Commission (CBIRC) said on Wednesday.
The NFRA is a nascent state-owned agency under the State...
South Korea's finance minister stated Sunday that the government will present more measures to stabilize the foreign exchange market in the country while minimizing the need for a currency swap deal with the United States.
The measures will include using the government's foreign exchange...
Russian President Vladimir Putin signed on Tuesday a law that will allow him to introduce special measures to the country's financial market if necessary.
Those measures could contain, among other things, restricting and giving permissions for certain financial operations, especially those that...
Member of the European Central Bank (ECB) Governing Council Pablo Hernandez de Cos warned on Friday that the risks to the financial stability have increased. During a talk at the University Menendez Pelayo, De Cos commented on the Ukraine crisis and its impact on the European and global...
The European Banking Authority (EBA) stated on Tuesday that European countries need to harmonize their financial regulation to allow for wider market adoption of RegTech.
The technology, which aims to standardize regulatory processes, create unambiguous interpretations of the regulations, and...
The Bank for International Settlements (BIS) alerted on Sunday to the risks concerning big tech companies' venture into financial services. "Big techs have the potential to become dominant through the advantages afforded by the data-network activities loop, raising competition and data privacy...
Commerzbank AG said on Wednesday its consolidated net loss attributable to shareholders stood at €637 million compared to a net profit of €215 million in the same quarter of 2016. Loss per share in the three month period was €0.50, down from earnings per share of €0.18 achieved in the...
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