banks | Common News Update

U.S. banks made it through the latest round of stress testing relatively unscathed, setting investors up for news next week of payouts from the industry's biggest names.Testings results released Thursday by the Federal Reserve show that the 34 institutions under scrutiny have enough capital to make it through the two scenarios regulators posed — one akin to the financial crisis and another entailing a shallower downturn.Under the scenarios, the banks tested "would experience substantial losses." However, in total, the institutions "could continue lending to businesses and households, thanks to the capital built up by the sector following the financial crisis."The tests marked the third straight year the banks all met the Fed's standards for health and could boost arguments from Republican ...

NEW DELHI: The Central Vigilance Commission (CVC) has asked public sector banks not to report frauds below Rs one lakh to local police, unless their staff is involved in such crimes. Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police. The decision was taken by the CVC in consultation with the Reserve Bank of India (RBI), taking into the account the practical difficulties faced by public sector banks in reporting such categories of cases. It has been decided that only if staff of the bank is involved in the fraud cases of below Rs one lakh and above Rs 10,000, would such cases need to be reported or complaint filed with local police station by the bank branch concerned, the commission said in a directive to chiefs of all the banks. The cases ...

Tag: banks

Big banks make it through stress tests, investors await cash release

Central Vigilance Commission asks banks not to report frauds below Rs1 lakh to police