Germany, Austria and other European nations harbored a “deep distrust” of a U.S. program that monitors millions of international banking transactions for evidence of terrorist activity, the New York Times reported, citing State Department cables.
Representative Chris Van Hollen of Maryland, ranking Democrat on the House Budget Committee, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that Congress should eliminate a tax break for private-equity and hedge- fund executives to pay for extending a payroll tax cut for workers.
The Vatican may extend its probe of suspicious bank transactions to people beyond Nunzio Scarano, the prelate arrested last month by Italian authorities on charges of fraud and corruption, Ansa reported.
OTP Bank Nyrt., Hungary’s largest lender, fell to the lowest in three months as the government said it plans to tax financial transactions and concern increased the euro-area debt crisis will escalate.
The U.K. Financial Policy Committee may target unregulated bank transactions as it seeks to prevent bubbles and end the “ Chuck Prince dynamic,” said Andrew Haldane , a Bank of England official and member of the new panel.