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Two supervisory sources told Reuters that the European Central Bank (ECB) had contacted banks on its watch to quiz them about their exposures to Credit Suisse. The Swiss National Bank declined to comment on Switzerland's second-largest bank, after its largest investor said it could not provide Credit Suisse with more financial assistance because of regulatory constraints. Credit Suisse had appealed to the Swiss National Bank and Swiss financial watchdog FINMA for a public show of support, the Financial Times reported. The logo of Swiss bank Credit Suisse is seen in front of an office building in Zurich, Switzerland October 26, 2022. Ralph Hamers, CEO of Credit Suisse rival UBS (UBSG.S) said market turmoil has steered more money its way.

The drop in Credit Suisse shares led a 7% fall in the European banking index (.SX7P), while five-year credit default swaps (CDS) for the flagship Swiss bank hit a new record high, highlighting increasing investor concerns. We move from the problems of American banks to those of European banks, first of all Credit Suisse," said Carlo Franchini, head of institutional clients at Banca Ifigest in Milan. The Swiss National Bank declined to comment on Switzerland's second-largest bank, after its largest investor said it could not provide Credit Suisse with more financial assistance because of regulatory constrains. The logo of Swiss bank Credit Suisse is seen in front of an office building in Zurich, Switzerland October 26, 2022. Ralph Hamers, CEO of Credit Suisse rival UBS (UBSG.S) said it has benefited from market turmoil and seen money inflows.

☆ Bundesbank convenes crisis team to assess SVB fallout
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, March 13 (Reuters) - The Bundesbank convened its crisis team on Monday to assess the possible fallout of the collapse of U.S. lender Silicon Valley Bank on the local market, even as no emergency action was foreseen in Europe. U.S. authorities launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank (SIVB.O) threatened to trigger a broader financial crisis. In the euro zone decisions are made by national supervisors for smaller banks and by the European Central Bank's Single Supervisory Board for large ones. He also noted euro zone banks generally had a more conservative mix of assets than Silicon Valley Bank, which mostly lent to risky tech startups. The source saw no direct implication of the SVB collapse for euro zone banks but cautioned this could change if the fallout in the United States extended to bigger banks, raising the risk of contagion.

☆ Germany imposes moratorium on German SVB branch
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, March 13 (Reuters) - Germany's financial regulator BaFin on Monday said it was imposing a moratorium on the German branch of Silicon Valley Bank in the wake of its demise and noted the branch has "no systemic relevance". The bank opened a small branch in 2018 after it won a license to lend. SVB's Frankfurt branch had assets of 789 million euros ($841.86 million) at the end of last year, according to BaFin. Officials at SVB in Frankfurt have not responded to requests for comment. ($1 = 0.9372 euros)Reporting by Tom Sims and Marta Orosz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

LONDON/FRANKFURT, Jan 27 (Reuters) - Rising borrowing costs are giving a long-awaited lift to Europe's beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards tightening. But while rising rates are good news for bank profits, they herald a slowdown in an economy hit by war and runaway prices that squeeze borrowers and could prick pricing bubbles, most notably in property. "On the one hand, interest rates are going up, which is good and helps banks," said Jerome Legras of Axiom Alternative Investments. Germany's financial regulator BaFin recently warned that a rapid rise in interest rates could weigh on some banks, and that loans may sour.

☆ Deutsche Bank Names New Compliance Chief as Part of Reshuffle
▼ + stars: | 2023-01-19 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Laura Padovani will join Deutsche Bank on April 1 as its group chief compliance officer and head of compliance, according to a memo seen by The Wall Street Journal. Ms. Padovani spent seven years at Barclays, most recently as its compliance chief, and 20 years at American Express. Mr. Tagné, who has spent more than six years at Deutsche Bank, will also take on the role of deputy chief compliance officer, according to the memo. Germany’s top financial watchdog, BaFin, in November threatened to fine Deutsche Bank if it didn’t implement controls against money laundering by mid-2023. Deutsche Bank was fined $150 million in 2020 by the New York Department of Financial Services for failing to properly monitor its dealings with Epstein.

☆ German finance regulator warns of 'Godfather' malware attacks
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Jan 9 (Reuters) - German finance regulator BaFin on Monday warned consumers that the malware known as "Godfather," which records user input, has been attacking 400 banking and cryptocurrency apps, including some in Germany. BaFin said that it was unclear how the malware infected consumers' devices. The malware displays fake websites of regular apps that can collect user login details and transmit them to cyber criminals, BaFin said. Reporting by Tom Sims and Marta Orosz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Higher interest rates are fattening profits from regular banking, while there has been a decline in M&A deals. In both those years, the investment bank made close to 40% of revenue and more than 75% of pre-tax profit. The bank's corporate and retail businesses, meanwhile, stagnated under ultra-low interest rates that lasted longer than expected. Deutsche Bank is under scrutiny for its controls to prevent money laundering, said a person with direct knowledge of the matter. Deutsche Bank has also been under pressure from regulators to rein in its leveraged finance business, where credit is extended to already indebted borrowers.

☆ Germany calls for global regulation of crypto industry
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Dec 14 (Reuters) - Germany's top regulator this week called for global regulation of the cryptocurrency industry to protect consumers, prevent money laundering and preserve financial stability. Branson said a "crypto spring" may follow what has been a "crypto winter" but that the industry that emerges is likely to have more links with traditional finance, further increasing the need for regulation. "Now is the time for serious cryptocurrency regulation," he said. Regulation of the industry has been loose and patchwork. Last month he said in an interview on the ECB's website that "not all crypto business models are serious".

☆ Wirecard bosses' fraud trial begins after scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +5 min

The trial is taking place in Munich's largest and newest courtroom, a bomb-proof underground hall built in the Stadelheim prison complex. Braun, an Austrian born in Vienna, has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. [1/8] Wirecard's former CEO Markus Braun looks on at a courtroom as his trial begins, after the German payments company collapsed in the wake of a fraud scandal in 2020, in Munich, Germany, December 8, 2022. The fraud let Wirecard managers siphon money out of the company with no proper checks and balances. "All three defendants worked together to make Wirecard appear as an extremely successful FinTech company," said Anne Leiding, a spokesperson for the prosecutors.

☆ Wirecard ex-boss on trial for fraud in scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +5 min

The trial is taking place in Munich's largest and newest courtroom, a bomb-proof underground hall built in the Stadelheim prison complex. Braun has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. [1/7] Wirecard's former CEO Markus Braun looks on at a courtroom as his trial begins, after the German payments company collapsed in the wake of a fraud scandal in 2020, in Munich, Germany, December 8, 2022. The fraud let Wirecard managers siphon money out of the company with no proper checks and balances. Scholz also criticised Wirecard's auditor, EY, for failing to detect the fraud.

☆ Former Wirecard boss goes on trial in fraud scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +4 min

[1/2] Wirecard's former boss Markus Braun listens, ahead of testifying before a German parliamentary committee in Berlin, Germany, November 19, 2020. Braun has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. However, within days, Wirecard became the first-ever DAX member to file for insolvency, owing creditors nearly $4 billion. Following Wirecard's demise, the head of German financial regulator BaFin resigned and the head of Germany's accounting watchdog also stepped down. Scholz also criticised Wirecard's auditor, EY, for failing to catch the fraud.

☆ The rise and fall of Wirecard
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +5 min

July 2: The head of Germany's financial watchdog calls the accounting scandal at Wirecard "a massive criminal act". July 6: German prosecutors arrest the head of a Dubai-based subsidiary of Wirecard. 2021Jan. 29: Felix Hufeld, president of German financial watchdog BaFin, steps down. 2022Jan. 14: German prosecutors file first charges in Wirecard fraud, the Financial Times reports. Sept. 21: A Munich district court said it had admitted charges against former Wirecard executives, paving way for a trial.

[1/2] The headquarters of Wirecard AG in Aschheim near Munich, Germany, September 22, 2020. REUTERS/Michael DalderMUNICH/BERLIN, Dec 6 (Reuters) - Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany's biggest post-war fraud scandal and sent shockwaves through the country's political and financial establishment. Wirecard, which started out processing payments for pornography and online gambling, rose to be worth $28 billion and displaced Commerzbank (CBKG.DE) in Germany's DAX blue-chip index. But in June 2020, Wirecard was forced to admit that 1.9 billion euros were missing from its balance sheet. In the ructions that followed Wirecard's demise, the head of German financial regulator BaFin resigned and the head of Germany's accounting watchdog also stepped down.

☆ Global regulators to target crypto platforms after FTX crash
▼ + stars: | 2022-11-24 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

LONDON, Nov 24 (Reuters) - The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch. Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. "Is it the case for the crypto market? "For investor protection reasons, there is a need to provide additional clarity to these crypto markets markets through targeted guidance in applying IOSCO’s principles to crypto assets," Servais said.

The plans include the Bundesbank, Germany's central bank, hoarding extra billions to cope with a surge in demand, and possible limits on withdrawals, one of the people said. NO JUMPING THE LINEOne weakness that planning exposed involves security firms that transport money from the central bank to ATMs and banks. The organization hosted a meeting last week with central bank officials and lawmakers to press its case. At times politics can get in the way of blackout planning. He said that he has long been warning authorities of blackout risks but that planning has been inadequate.

But there was also a wider question for the officials: could the energy companies' use of such complex instruments threaten financial stability? So the ECB has widened its scrutiny to examine potential domino effects, including on the banks which it supervises. read moreWhile ECB President Christine Lagarde said the ECB stood ready to provide liquidity to banks, she said it would not do the same for energy firms. "Energy companies pose specific risks not only to financial stability. Reuters GraphicsRating agency Moody's, meanwhile, said that energy companies did not provide enough information about their derivatives.

☆ Allianz beats quarterly profit expectations, posts rosier 2022 outlook
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Net profit attributable to shareholders was 2.464 billion euros ($2.47 billion) in the quarter compared to 2.111 billion euros a year earlier. The figure surpassed a 2.320 billion euro consensus forecast. Allianz said operating profit in 2022 would be in the upper half of its previously stated range of 12.4 billion euros to 14.4 billion euros. The "upper half" is new guidance and rosier than before. Separately, the company announced a 1 billion euro share buyback programme, which would start in the middle of November and conclude by the end of next year at the latest.

☆ Deutsche Bank Faces Threat of Fines Over Money-Laundering Controls
▼ + stars: | 2022-11-05 | by ( Patricia Kowsmann | ) www.wsj.com time to read: +2 min

Germany’s top financial watchdog threatened to fine Deutsche Bank AG if it doesn’t implement controls against money laundering by a set deadline, suggesting the regulator isn’t satisfied with the bank’s efforts to police dirty-money flows. Deutsche Bank needs to meet deadlines by mid-2023. Costs, however, remain under strain, partly because of how much the bank is spending to boost internal controls. Deutsche Bank also has monitors in place as part of a 2017 settlement with New York state authorities related to “mirror trades,” in which the bank moved $10 billion of Russian client money out of the country. Following Russia’s invasion of Ukraine, Deutsche Bank said it would withdraw from the country.

☆ Financial watchdog orders Deutsche Bank to step up money laundering controls
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Nov 4 (Reuters) - The German financial regulator BaFin said on Friday it has ordered Deutsche Bank (DBKGn.DE) to take specific measures to better prevent money laundering and terrorism financing. Reporting by Ludwig Burger; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ More than 100 customers of N26, one of Europe's biggest online banks, say their accounts were suddenly closed — and some haven't gotten their money back
▼ + stars: | 2022-10-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +8 min

More than 100 N26 bank customers, including a Ukrainian refugee, say their accounts were suddenly terminated in April. The online bank confirmed accounts were "wrongly closed" but said it is working to roll out a technical solution. Customers shared their distress online after N26 shut their accounts on April 14 as part of anti-fraud measures that went wrong. The N26 customers that Insider spoke to were spread across Germany, Spain, Italy, France, Ireland, Latvia, and Romania. Online banks are under pressure to make judgment calls and have to tread a fine line," Prince said.

FRANKFURT, Oct 11 (Reuters) - German online bank N26, which is being monitored by German financial regulators, on Tuesday reported a wider loss for 2021 and a slowing in customer growth, capping a year of setbacks for one of Europe's most valuable fintechs. The Berlin-based bank's 2021 loss increased to 172 million euros ($167.10 million), from a 151 million euro loss in 2020. It added one million new customers last year, down from the two million customers that were added in the previous year. N26, founded in 2013, was valued at more than $9 billion after it completed a $900 million fundraising round in 2021. Of its 8 million customers, 3.7 million are generating revenue, it said.

☆ Mobile bank N26's losses widen after ramping up spending on fraud controls
▼ + stars: | 2022-10-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

In 2020, N26 generated 72.1 million euros in revenue. Of that sum, 28.2 million euros came from losses at N26's non-European Union operations, according to financials released by the company on Tuesday. N26 had trimmed its losses in 2020, to 150.7 million euros from 216.9 million euros. That contributed to a sizable increase in overall administrative costs, which grew 30% to 269.8 million euros. Personnel-related spending totaled 102.1 million euros, up 10.7% year-on-year, while general admin expenses shot up 47%, to 167.7 million euros.

☆ Grupul ProCredit a înregistrat o creștere semnificativă a portofoliului și un rezultat consolidat îmbunătățit în primul trimestru al anului 2021, bazându-se pe rezultatele financiare solide ale anului
▼ + stars: | 2021-05-18 | by ( Https | Www.Facebook.Com Unimedia.Info | Vitalia Pavlicenco | ) unimedia.info time to read: +10 min

Rezultatul consolidat a crescut la 15,6 milioane EURO (T1 2020: 13,7 milioane EURO), reprezentând o rentabilitate îmbunătățită a capitalului de 7,9% (T1 2020: 7,0%). Toate băncile ProCredit au contribuit pozitiv în primul trimestru al anului 2021, ajungând la un rezultat consolidat îmbunătățit. Creșterea portofoliului în primul trimestru al anului 2021 se datorează poziției puternice pe piață a Grupului ProCredit ca „Hausbank” pentru întreprinderile mici și mijlocii (IMM-uri). Profilul de risc solid - baza pentru rezultate financiare buneÎn primul trimestru al anului 2021 calitatea portofoliului a rămas în general stabilă la nivelurile de la sfârșitul anului 2020. Rezultatul consolidat pentru primul trimestru al anului 2021 și rezultatul consolidat pentru a doua jumătate a anului 2020 nu au fost încă recunoscute în fondurile proprii de nivel 1 de bază.

Persons: Andrea Kaufmann, KGaA, KGaA ProCredit Holding AG & Co ., Holding AG & Co ., ProCredit Holding AG & Co . KGaA Organizations: EURO, Adunarea Generală, Adunarea, Autoritatea Federală, Supraveghere, Băncii Centrale Europene, Group Communications, Holding AG & Co, KGaA ProCredit Holding AG & Co, Invest, KfW, Băncii Mondiale, ProCredit Holding AG & Co, Banca Centrală, Holding, ProCredit Holding Locations: Frankfurt am Main, Sud - Estul, Europei, Autoritatea Federală Germană, Băncii, Holding, Tel, Frankfurt pe Main, Germania, Europa de Sud - Est, Est, America de Sud, Frankfurt, Dutch, Bank, Germaniei

☆ Team Europe: Banca Europeană de Investiții și Grupul ProCredit vor acorda un ajutor de 20 de mil. euro pentru recuperarea mai rapidă a IMM-urilor din Moldova în urma crizei Covid-19
▼ + stars: | 2020-12-23 | by ( Https | Www.Facebook.Com Unimedia.Info | Bogdan Țîrdea | ) unimedia.info time to read: +8 min

Așteptăm cu nerăbdare extinderea parteneriatului nostru în viitor, astfel încât să permitem și mai multor companii să beneficieze de angajamentul nostru comun de a sprijini creșterea și dezvoltarea IMM-urilor”. În Republica Moldova lucrăm împreună pentru a furniza echipamentele necesare pentru îngrijirea medicală, pentru a îmbunătăți accesul la finanțare pentru IMM-uri, pentru a sprijini digitalizarea și ecologizarea economiei. Team Europe: Consolidarea solidarității pan-europene în perioade de crizăInvestiția BEI face parte din răspunsul general al Team Europe la COVID-19 și sprijină redresarea socială și economică durabilă a vecinătății estice a UE. Aceste măsuri de urgență fac parte din eforturile Team Europe de a sprijini țările partenere din vecinătatea estică în timpul pandemiei. Notă pentru editori:Despre BEI:Banca Europeană de Investiții (BEI) este instituția de creditare pe termen lung a Uniunii Europene deținută de statele membre ale acesteia.

Persons: Teresa Czerwińska, Erika Hasznos, ProCredit Holding AG & Co ., KGaA, KGaA ProCredit Holding AG & Co ., Holding AG & Co ., ProCredit Holding AG & Co . KGaA Organizations: Banca Europeană de, Uniunii Europene, BEI, Europe, Banca Europeană de Investiții, Banca UE, ProCredit Holding AG & Co, ProCredit Holding AG & Co . KGaA, Bank, UE, Uniunea Europeană, ONU, Holding AG & Co, KGaA ProCredit Holding AG & Co, Invest, Băncii Mondiale, Autoritatea Federală, Supraveghere Locations: Moldova, Ucraina, Georgia, UE, Moldovei, Republica Moldova, BEI, Republicii Moldova, Bank Moldova, Belarus, Azerbaidjan, Armenia, Paris, Frankfurt pe Main, Germania, Europa de Sud - Est, Est, America de Sud, Frankfurt, Bank, German

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