The European Commission asked Italy for clarification on legislation passed last year that changes the Bank of Italy’s capital structure, as it seeks assurances the new rules don’t amount to state aid to banks.
FHB Jelzalogbank Nyrt., a mortgage lender in Hungary, headed for its steepest slide in two weeks as a technical indicator signaled the stock is overbought amid speculation of a stake-purchase in Takarekbank Zrt.
Kazakhstan’s central bank devalued the tenge by the most since 2009 as reduced bond buying by the U.S. Federal Reserve sparks capital outflows from emerging markets and the currency of its main trading partner weakens.
Argentina’s peso rose the most among emerging-market counterparts and headed for its biggest weekly gain in five years as the central bank limited commercial lenders’ foreign currency holdings to boost dwindling reserves.
China’s banking regulator ordered some of the nation’s smaller lenders to set aside more funds to avoid a cash shortfall, three people with knowledge of the matter said, signaling rising concern that defaults may climb.
On a blustery February morning in 2011, Chris Hardman waited anxiously inside a Big Yellow Self Storage center in north London. A banner fastened to the box- shaped building’s facade read “Get some space in your life.” All Hardman wanted to do was see the contents of storage unit E2010.
Italian Prime Minister Enrico Letta plans to create a market for shares in the country’s central bank, a move aimed at bringing capital relief to the commercial lenders that have owned the stock since 1936.