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Bank News

US Fed holds first policy meeting of Biden administration

Washington - With a new year and a new administration in the White House, the US central bank nonetheless faces an unprecedented challenge in guiding the post-pandemic economic recovery.

Trump calls off stimulus talks, Fed says recovery faster with aid

Washington - President Donald Trump on Tuesday called off talks on a new stimulus plan to boost the Covid-ravaged US economy until after the election, sending Wall Street plunging and upending recent progress made in the long-delayed negotiations.

UK court asks for more clarity on Venezuela presidency recognition

London - The Court of Appeal in London on Monday asked the High Court to re-examine a ruling that said the UK government "unequivocally recognised" Venezuela's opposition leader as president.

US economy to recover only when people feel 'safe' from virus: Powell

Washington - The US economy will only recover from the coronavirus downturn when people feel safe to resume their normal activities, Federal Reserve Chair Jerome Powell said in remarks released Monday ahead of congressional testimony.

US Fed says outlook uncertain, stimulus 'essential'

Washington - The Federal Reserve pledged Wednesday to keep boosting the US economy with low rates to help recover the tens of millions of jobs lost in the pandemic, but said additional help from the government will be key.

US facing severe crisis, but not a depression: Fed's Powell

Washington - The US is facing a severe economic downturn amid the global pandemic, but will not suffer another Great Depression and will see a recovery begin later this year, Federal Reserve Chair Jerome Powell said Sunday.

US GDP could 'easily' contract 20-30% Q2: Fed's Powell

Washington - The business shutdowns caused by the coronavirus pandemic could "easily" cause the US economy to collapse by 20 to 30 percent this quarter, Federal Reserve Chair Jerome Powell said Sunday.

Fed to allow foreign central banks to swap US Tsys for cash

Washington - The Federal Reserve announced a new facility Tuesday that will allow foreign central banks to temporarily swap holdings of US Treasury debt for US dollars.

ECB brings 750 bn euro bazooka to virus fightback

Frankfurt Am Main - The European Central Bank on Wednesday unexpectedly said it would spend 750 billion euros on "emergency" bond purchases, as it joined other central banks in stepping up efforts to contain the economic damage from the coronavirus.

Bank of Japan unveils emergency measures over virus

Apo - The Bank of Japan on Monday unveiled a series of emergency monetary policy measures to shore up the world's third-largest economy, as the coronavirus pandemic threatens a global recession.

US Fed slashes key interest rate, rolls out massive response to pandemic

Washington - Faced with a growing economic shutdown from the coronavirus pandemic, that could cause the US economy to contract, the US Federal Reserve on Sunday announced drastic emergency measures to shore up confidence and keep the financial sector running, inclu...

US Fed slashes key interest rate, rolls out massive response to pandemic

Washington - Faced with a growing economic shutdown from the coronavirus pandemic, the US Federal Reserve on Sunday announced drastic emergency measures to shore up confidence and keep the financial sector running, including slashing the key interest rate to virtua...

BoE slashes interest rate to 0.25% over coronavirus

London - The Bank of England on Wednesday slashed its main interest rate to 0.25 percent in an emergency move to combat the fallout from the coronavirus outbreak on the UK economy.

US economy solid, but virus could hit supplies: Fed's Clarida

Washington - The US economy is starting the year in a strong position but the virus outbreak in China has the potential to create drag, a top Federal Reserve official said Thursday.

Benefits of China trade truce 'limited': Fed officials

Washington - While US trade tensions with China have receded, Federal Reserve officials worry the danger to the economy is not over, according to minutes of the last policy meeting released Wednesday.

Benefits of China trade truce 'limited': Fed officials

Washington - While US trade tensions have receded, including with China, Federal Reserve officials worry the danger to the economy is not over, according to minutes of the last policy meeting released Wednesday.

Iran claims 'victory' after bank compensated by Britain

Tehran - Iran claimed a "victory" on Friday after one of its banks received compensation from British authorities over "illegal" sanctions.According to the UK daily The Times, London paid Bank Mellat "1.25 billion pounds sterling ($1.54 million) with interest"....

Fed's Powell vow to act to sustain US expansion, Trump lashes out

Washington - Federal Reserve Chair Jerome Powell vowed Friday to act to ensure that the US economic expansion continues, but admitted the central bank had limited tools to respond to an intensifying trade war.

Fed will act 'as appropriate' to sustain US expansion: Powell

Washington - Federal Reserve Chair Jerome Powell stressed Friday that the central bank will act to ensure the US economic expansion continues, even in the face of "significant risks" posed by slowing global growth.

Trump attacks, economic fears focus spotlight on Fed's Powell speech

Washington - When the leader of the Federal Reserve speaks, the world listens. But the relentless attacks by US President Donald Trump ensure Fed Chair Jerome Powell's speech Friday will be subjected to an even more intense spotlight.

Trump attacks, economic fears focus spotlight on Fed's Powell speech

Washington - When the leader of the Federal Reserve speaks, the world listens. But the relentless attacks by US President Donald Trump ensure Fed Chair Jerome Powell's speech Friday will be subjected to an even more intense spotlight.

Erdogan sacks Turkey central bank governor amid rate tensions

Ankara - President Recep Tayyip Erdogan has sacked the governor of Turkey's central bank and replaced him with his deputy, a presidential decree said Saturday, after months of tension with the government over high interest rates.

US business debt a 'moderate' economic risk: US Fed's Powell

Washington - The American private sector's mounting debts pose a "moderate" risk to the world's largest economy, Federal Reserve Chairman Jerome Powell said Monday.

US imposes sanctions on Venezuela's central bank

Miami - The United States on Wednesday announced sanctions against Venezuela's central bank in its latest effort to strangle President Nicolas Maduro's cash flow.

Independence has served central banks well: IMF's Lagarde

Washington - Government respect for the independence of central banks has served them well in their mission, International Monetary Fund chief Christine Lagarde said Saturday.

Tirana airport security under scrutiny after runway heist

Tirana - Security at the Albanian capital's airport was under scrutiny Wednesday after a Hollywood-style robbery on its runway that left one gunman dead while his accomplices fled with millions of euros.

Fed's Powell: US inflation to fall further below 2% target

Washington - Despite solid growth and continuing job gains, the US economy will see inflation fall even further below the central bank's two percent goal, at least for a time, Federal Reserve Chairman Jerome Powell said Tuesday.

Fed's Powell: US inflation to fall further below 2% target

Washington - Despite solid growth and continuing job gains, the US economy will see inflation fall even further below the central bank's two percent goal, at least for a time, Federal Reserve Chairman Jerome Powell said Tuesday.

Fed says US growth easing as global risks rise

Washington - The Federal Reserve believes US growth will "step down" this year from last year's rapid pace amid rising global risks, including from tense trade relations, according to minutes released Wednesday.

US Federal Reserve to remain patient on interest rates

Washington - The Federal Reserve will make its first interest rate announcement of the year on Wednesday but almost certainly will make it clear it will remain patient about any further moves.
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Those running Bank of Montreal got a free security check from an unexpected source.
Those running Bank of Montreal got a free security check from an unexpected source.
Eastmain via Wikimedia
This bank in a Western town is closed. It is just one closed business in an almost empty downtown. T...
This bank in a Western town is closed. It is just one closed business in an almost empty downtown. The story is different in every community but the result is often the same --- a struggling community with many of the young people moving away to find work and the remaining older residents staying as they are unable to find buyers for their property.
A branch of Banco Provincia.
A branch of Banco Provincia.
Barcex
Bank of Greece
Bank of Greece
A bank in Baghdad - protected by US troops.
A bank in Baghdad - protected by US troops.
Timmy
A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
ell brown
The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
Federal Reserve Bank in New York City
Federal Reserve Bank in New York City
Dmadeo (CC BY-SA 3.0)
Bank of Greece
Bank of Greece
The United Bank of India (UBI) is one of the leading banks  offering financial services to poor and ...
The United Bank of India (UBI) is one of the leading banks, offering financial services to poor and tribal people of Tripura, India.
Untitled
screen capture from news video
Book cover of Michael Likosky s  Obama s Bank - Financing a Durable New Deal  Cambridge University P...
Book cover of Michael Likosky's "Obama's Bank - Financing a Durable New Deal" Cambridge University Press (2010)
National Bank of Canada
National Bank of Canada
By Raysonho @ Open Grid Scheduler / Grid Engine (Own work) [CC0], via Wikimedia Commons
Eurobank
Eurobank
wikimedia commons
A man passes the Bank of England in London
A man passes the Bank of England in London
Luke MacGregor / Reuters
Interior of NatWest Castle Street  Liverpool
Interior of NatWest Castle Street, Liverpool
John Bradley
Inside of Caixa Bank in São Paulo where there s art gallery open to public on Sundays.
Inside of Caixa Bank in São Paulo where there's art gallery open to public on Sundays.
Branch of the National State Bank (BancoEstado) in Putaendo  Chile.
Branch of the National State Bank (BancoEstado) in Putaendo, Chile.
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