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"Obviously the City (of London) is the financial centre for Europe and I think it will remain one of the financial centres of the world," said Eurogroup chief Jeroen Dijsselbloem

The Times: British Banks are Ready for a Hard Brexit

British banks are prepared for Brexit and European banks have failed to prepare adequately, the head of the Financial Conduct authority has said in comments reported by Britain’s Times newspaper. European regulators are playing rough with British banks to scare businesses

Jerome Powell

Fifth Third Deal Flashes a Warning Sign for Banking

Fifth Third’s $4.7 billion deal to purchase Chicago’s MB Financial is a sign that large regional banks are feeling pressure to grow and believe the regulatory environment has turned positive for bank mergers and acquisitions.

An employee puts Chinese one-hundred yuan banknotes in a money counting machine for a photograph at the Korea Exchange Bank headquarters in Seoul, South Korea, on Thursday, Feb. 27, 2014. Chinas central bank is forecast to double the yuans trading band in the coming quarter as policy makers loosen exchange-rate …

For China, Debt Disaster Lurks in the Shadows

Analysts with the proper degree of skepticism about China’s boasts of soaring economic power note that official reports from the Communist regime cannot be trusted. Another, less widely understood problem is that China’s rulers might not know how unstable their economy really is because a sizable portion of Chinese debt lurks off the books in the “shadow banking” industry.

Royal Bank of Scotland

Royal Bank of Scotland Sets Aside Another £3bn For US Fines

LONDON (AP) — Taxpayer-owned Royal Bank of Scotland says it has set aside an additional $3.8 billion to cover fines and litigation costs related to its sale of bonds backed by U.S. subprime mortgages before the global financial crisis.

Deutsche Bank

Senior German Lawmaker Says No More Aid For Ailing Banks

BERLIN, Sept 29 (Reuters) – Germany will not grant any more state aid for ailing banks, a senior lawmaker in Chancellor Angela Merkel’s conservative bloc said on Thursday, a day after the government denied it was working on a rescue plan for Deutsche Bank, its biggest lender.

Money

Mexican Cartels Launder $10 Billion into US per Year, Says Financial Times

Over $10 Billion in illicit funds are laundered into the U.S. per year, according to a report in the Financial Times. As Breitbart Texas previously reported, the U.S. government recently enacted tough controls on banking institutions in an effort to stem the flow of Mexican cartels’ narco-profits through U.S. banks. Several large U.S.-based banking institutions recently began closing down branches near the U.S.-Mexico border in efforts to comply with the restrictions.

AP Photo

Banks Raising Sub-Prime Credit Card Limits, Again!

The Office of the Comptroller of the Currency (OCC), which regulates the financial risks posed by the lending activity of American national banks, has officially reported that banks are expanding sub-prime credit by raising borrowing limits for credit card holders. The new concerns follow an OCC report last June that flagged “problematic” recent high-risk corporate takeovers, car loans through auto dealers, and commercial finance lending.

Dan Price

Human Smugglers Thrive With Help of U.S. Banks

Hundreds of thousands of immigrants enter the US illegally across our southwest border every year with the help of coyotes, more formally known as human smugglers. Making this journeys isn’t cheap, and can set a migrant back anywhere from $3,000 to $7,000 depending on his or her circumstances. As a result, gangs are making upwards of $10 billion per year according to the United Nations Office of Drugs and Crime. Worse yet, Bloomberg Markets magazine will be reporting in its February issue that these profits are rolling in with the assistance of several U.S. banks.

Jeb Bush

Report: Jeb Bush Leaving Barclays Ahead of Potential ’16 Run

Former Florida Governor Jeb Bush will reportedly quit his position at Barclays at the end of the year. The Financial Times report comes days after Bush announced that he is “actively exploring” a potential presidential run. Before Bush’s announcement that