The Korean Financial Investment Association was visited by members of the Fair Trade Commission to obtain documents on its probe as to alleged rate fixing for the country's certificate of deposit.
Tags: Bank
Goldman to face Libya's sovereign wealth fund in court over trades
Goldman Sachs (GS.N) and Libya's sovereign wealth fund are set to meet in a London court over claims the Wall Street bank exploited a position of trust by encouraging the fund to invest more than $1 billion in trades that ended up worthless.
China's July economic data points to further softness
China's economy showed further signs of softening in July despite a burst of government stimulus measures, suggesting more policy support may be needed to keep growth on track as a property downturn worsens.
EU seeking creation of bank to oversee banks in the EU
Germany's coalition government formalized a measure to provide funds and expertise for a European bank to manage the loan agreements and if necessitated, closure of banks.
National Bank of Abu Dhabi said to be world's safest bank
According to Global Finance, the National Bank of Abu Dhabi is acclaimed as the world's safest bank.
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The Chinese government, amidst calls for a pending crisis due to bad debts, is pushing its banks to shore up its capitalization in compliance with Basel III.
Tom Bolland, current COO of Lehman is helping wind down the bank's business. Tom Bolland, current chief operating officer of Lehman Brothers International Europe, is under the employ of Tony Lomas, joint administrator and PriceWaterhouseCoopers Partner, is providing assistance as the bank winds down its business and maximizes its recoverable assets.
HSBC's stock falls as it advises diplomatic missions to close their accounts with their bank. HSBC had reported lower than expected earnings last Monday.
Milestone Aviation secures a US $300 million loan facility from Lloyds, Barclays and Lombard. Milestone Aviation Group said that it reached an agreement with three banks for US $300 million in loan facility.
US federal prosecutors revive a 30 year old law to prosecute Wall Street banks that sold toxic loans in 2008.
Opus Bank gears up for the expansion of its Income Property Banking division with the creation of Commercial Real Estate Banking division.
Lenders based in Oman are developing a wakala, an agency agreement that is sharia compliant to help back their interbank financing needs.
Dominique Strauss-Kahn joins the Russian Regional Development Bank, a Rosneft-owned bank. Dominique Strauss-Kahn joined the supervisory slate of a bank owned by Rosneft, a Russian state oil major.
Raiffeisen Bank International explores cost-cutting measures to raise Eur 1.8 billion. Austria's Raiffeisen Bank International (RBI) is about to bite the bullet as it launches a cost-cutting program to raise Eur 1.
