Wall Street banks, which already shut proprietary trading units that helped fuel record profits, are girding to learn next week how much revenue the Volcker rule may cut from the $44 billion they say comes from market-making.
The Riksbank should stop worrying about Sweden’s record private debt load and could do more to support economic growth, said Pier Carlo Padoan, chief economist at the Organization for Economic Cooperation and Development.
I'd never have believed it had I not seen two charts this morning courtesy of www.strategasrp.com. Each shows banks relative to gold, expressed as a price ratio. The first is U.S. banks, the second is European banks.
Raiffeisen Bank International AG, the Austrian firm that’s eastern Europe’s second-biggest bank, reported third-quarter profit that fell 5 percent on higher bad debt charges in Slovenia and on large corporate loans.
Europe’s biggest banks, led by Lloyds Banking Group Plc and Deutsche Bank AG, have racked up more than $77 billion in legal costs since the financial crisis, five times their combined profit last year.
European Central Bank Executive Board member Yves Mersch said stress tests on euro-area banks will probably simulate three years of negative economic conditions as part of a check on the financial system’s health.