Uruguayan banks will probably be able to continue with last year’s profits in the current year, as the economy strengthens, Fernando Oliva, directory of consultancy at Doloitte told BNAmericas.
Banks operating in the UK will be hit with a levy in a move set to raise more than £8bn over four years, the chancellor has announced -The levy is part of a joint move between the UK, France and Germany.
Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands. New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain better ratings for risky securities.
A recent study from the Central Bank of Chile written by economists José Miguel Matus, Nancy Silva, Alejandra Marinovic y Karla Flores found that Chilean household debt increased from 23% of GDP in 2000 to 39.1% in 2009.
Morgan Stanley (NYSE:MS) CEO James Gorman denied allegations the US bank misled investors about mortgage derivatives it sold them. The firm is being probed by US prosecutors over whether the bank misled clients when it sold them collateralized debt obligations as its own traders bet that the value of the securities would drop, the Wall Street Journal reported Wednesday.
United States big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, US Treasury Secretary Timothy Geithner told lawmakers as he sought support for the proposal.
Latin America currently has “the best financial system in the world”, said Francisco Luzón, member of the Board and head of the Latin American Division of Spain’s Banco Santander (NYSE:STD), the biggest bank by market capitalization in the Eurozone.
More than ten investment banks, including Wells Fargo, HSBC, Merrill Lynch and Credit Suisse, will leave Argentina in the coming weeks, a Buenos Aires newspaper reported Monday.
The chairman of an inquiry into the causes of United States' financial meltdown has attacked the role of Goldman Sachs. Senator Carl Levin spoke of the reckless greed that infected Wall Street's financial community.
Investment bank Goldman Sachs executives boasted about the money the bank was making while the US housing market was collapsing in 2007, released company e-mails show.