Turkey’s banking regulator increased the reserves banks must set aside against consumer lending, the latest in a series of steps designed to slow loan growth and rein in a booming economy.
BusinessWeek.com — Finance
Group of Seven governments are boosting their currency reserves as strategists at UBS AG and Bank of New York Mellon Corp. detect the potential for more intervention to quell exchange-rate swings in coming years.
BusinessWeek.com — Finance
Bank of America Corp., the largest U.S. lender, was pressed by the Securities and Exchange Commission for information about its reserves to cover the cost of buying back faulty home loans.
BusinessWeek.com — Finance
American International Group Inc. said higher-than-forecast claims costs cut fourth-quarter profit by $ 4.1 billion, and $ 2 billion previously designated to repay its bailout will be used to bolster the property-casualty unit.
BusinessWeek.com — Finance
American International Group Inc., the insurer that received a $ 182.3 billion U.S. government bailout, expects to record $ 4.1 billion in costs for the fourth quarter of 2010 to strengthen loss reserves in its Chartis property and casualty insurance subsidiaries.
BusinessWeek.com — Finance
Travelers Cos., the top gainer among financial firms in the Dow Jones Industrial Average last year, said fourth-quarter profit fell 30 percent as catastrophe costs climbed and the insurer got a smaller benefit from reserves.
BusinessWeek.com — Finance
Switzerland’s central bank said it may have posted a record loss in 2010 as the euro’s slump eroded the value of its currency reserves.
BusinessWeek.com — Finance
China’s foreign-exchange reserves climbed by a record in the fourth quarter and lending exceeded the government’s full-year target, increasing pressure on the central bank to tighten policies to rein in liquidity and inflation.
BusinessWeek.com — Finance
Feed
