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CBI governor: Domestic banks granted over $40b in loans in eight months

Domestic Economy Desk

Fed finds big US banks in solid shape; keeps dividend limits

The US Federal Reserve has said that the 33 largest US banks are in strong shape despite the pandemic’s economic shock.

Frankfurt attracts London banks

Hubertus Vaeth was considered crazy when he launched a Frankfurt initiative to lure banks there after Brexit.

Warning lights flashing for Big Tech as they did for banks

By John Flint*

Spanish banks seek mergers as outlook darkens

A wave of mergers is sweeping across the Spanish banking sector as lenders face up to a pandemic-induced recession, ultralow interest rates and growing competition from financial technology startups.

US efforts to cut Iran off from rest of world amid pandemic is cruel

As Iran surpasses half a million cases and more than 29,000 deaths as a result of the COVID-19 crisis, the US administration is adding new sanctions on a country that was already struggling to buy essential medicines.

CBI head: Tehran, Baghdad reach deal to release Iran’s financial assets

National Desk

Rouhani: New US sanctions aimed at stopping medicine, food purchases

Zarif: US committing ‘crime against humanity’

Banks, investors pivot towards Biden win after Trump tests positive for COVID

Global banks and investors said they were stepping up their preparations for a victory by Democratic presidential candidate Joe Biden after his rival Republican President Donald Trump revealed he had tested positive for COVID-19 early on Friday.

Banks moved $2 trillion amid laundering orders: ICIJ

A new investigation by the International Consortium of Investigative Journalists (ICIJ) says JPMorgan Chase & Co., Deutsche Bank AG and several global banks “kept profiting from powerful and dangerous players” in the past two decades even after the US imposed penalties on these financial institutions.

Banks urge Britain, EU to sort out financial market access

Britain and the European Union need to make progress on EU financial market access given that the coronavirus crisis will make it even harder to cope with potential disruption if there is no agreement, banking lobby AFME said on Monday.

European banks are set for relief on sovereign bond holdings

European banks are close to receiving capital relief on their holdings of sovereign debt as lawmakers bolster a package of measures intended to protect the industry from aftershocks of the coronavirus pandemic.

Iran urges South Korea to release billions withheld by banks

Iran called on South Korea to release billions of dollars of oil-export revenue, arguing that Seoul is buckling to pressure from the United States and illegally withholding the Islamic Republic’s funds.

South African banks at risk of deepest profit slump in 50 years

South African banks face the steepest earnings slump in half a century — with some posting losses — as measures to curb the coronavirus drag the economy deeper into recession and lead to a surge in bad debts.

UK banks granted 1.5m payment holidays on credit cards, loans

Britain’s high street banks have granted almost 1.5 million payment holidays to consumers struggling to repay their credit cards and personal loans during the coronavirus pandemic.