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The transaction is also fraught with regulatory risks, analysts said, though RBC argues that HSBC's Canada business accounts for just 2% of Canadian banking market share. The finance minister has the authority to impose any terms and conditions, the finance department said in a statement. "This regulatory assessment isn't likely to be completed for some time," Calvin Goldman, former commissioner of Canada's competition bureau, told Reuters, referring to the latest deal. QUICK MOVEDespite the expected regulatory risks, RBC was keen to move quickly. RBC is paying 9.4 times HSBC's 2024 adjusted earnings, which KBW analysts said was a steep price, though offset by savings potentials.

SummarySummary Companies Coal miners struggling to fund expansion plansThermal coal costs more than coking coal after price surgeMost Western bankers pulling back from coal industryLONDON, Nov 24 (Reuters) - It's the best of times, it's the worst of times. At least when it comes to mining coal. With funding hard to come by from Western banks, coal miners outside China have turned more to equity markets this year. "With regard to thermal coal mining, any transaction in coal mining requires an enhanced environmental risk review," a Deutsche spokesperson said, adding that the bank was updating its coal policy. Bens Creek listed shares partly because of the lack of appetite from banks to support any expansion of coal mining, chief executive Wilson said.

REUTERS/Maja Smiejkowska/File PhotoCommodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline. Most trade finance loans are short-term, less than a year. Traders’ credit lines became strained last year when natural gas prices sky-rocketed in the fourth quarter. ‘DESIRE TO DIVERSIFY’Lending for commodity trade finance has become more diverse, with non-bank financial institutions (NBFI) stepping in. The underlying issue was the retreat of major banks from commodity financing after some 2020 defaults in the sector while Russian banks Sberbank and Gazprombank that were set to expand have now been shut out of Europe.

Commodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline. Most trade finance loans are short-term, less than a year. The involvement of hedge funds in commodity trade finance has created a lifeline for smaller firms, deemed to be higher risk for banks due to strict capital requirements and clean energy goals. 'DESIRE TO DIVERSIFY'Lending for commodity trade finance has become more diverse, with non-bank financial institutions (NBFI) stepping in. The Swiss firm specialises in financing small to mid-sized commodity merchants and has achieved returns between 6% to 10% over the last 10 years.

☆ Piyush Gupta might be banking’s boldest boss
▼ + stars: | 2022-11-15 | by ( Una Galani | ) www.reuters.com time to read: +7 min

Piyush Gupta of $65 billion Singaporean lender DBS Group (DBSM.SI) appears to be that CEO, whether he thinks of himself that way or not. Yet the two banks trade on a similar multiple of 1.5 times their estimated 2022 book value, according to Refinitiv. There is limited room for growth in DBS’ tiny home market, a city with a population of 5.5 million people. That, plus the pressure to maintain that 1.5-times-book market value, means Gupta needs to keep finding ways to grow. U.S. President Joe Biden and Chinese President Xi Jinping held talks on Nov. 14 while at the G20 summit in Indonesia.

☆ The US is quietly asking major banks like JPMorgan and Citi to keep doing business with some Russian firms, report says
▼ + stars: | 2022-11-08 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

US officials asked major banks to maintain ties with Russian companies, Bloomberg reportedIts report said banks were asked to keep dealing with firms that are partly exempt from sanctions. The Russian firms included state-run gas giant Gazprom and fertilizer producer Uralkali PJSC, sources told Bloomberg. In a congressional hearing on September 21, CEOs of major US banks came under scrutiny for their dealings in Russia. Leaders of major Western banks have been condemned by Ukrainian officials, who said in July that they would pursue war-crimes charges against them. "In our logic, everybody who is financing these war criminals who are doing these terrible things in Ukraine are also committing war crimes," he added.

☆ EXCLUSIVE Russia seeks sanctions exemptions for state bank in Ukraine grain deal talks-sources
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +5 min

This would allow the bank, which has not had a major role in the international grain trade so far, to process payments for Russian grain and other foodstuffs, two of the sources added. Before the latest sanctions, such payments were handled by international banks and subsidiaries of other Russian banks in Switzerland. The U.N. has said it "remains committed to removing the remaining obstacles to the exports of Russian food and fertilizer". BANK'S ROLE MAY EXPANDMoscow has said its consent to extend the Black Sea grain deal depends on support for its own grain and fertiliser exports. Should Russia's request be granted, Rosselkhozbank's role in Russia's grain trade could expand significantly.

☆ U.S. senators want secondary sanctions on Russian oil
▼ + stars: | 2022-09-20 | by ( Patricia Zengerle | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File PhotoWASHINGTON, Sept 20 (Reuters) - Democratic and Republican senators urged U.S. President Joe Biden's administration on Tuesday to impose secondary sanctions on international banks to strengthen a price cap G7 countries plan to impose on Russian oil over Moscow's invasion of Ukraine. The Biden administration has been reluctant to impose secondary sanctions over concerns that they could complicate relations with importers of Russia oil like China and India. The Group of Seven announced the price cap plan this month to limit Russia's lucrative oil export revenue in the wake of the invasion. "And secondly, by keeping Russian oil in the market at lower prices, it will reduce the potential for price spikes in the market." Also at the hearing, Democratic Senator Kyrsten Sinema asked Rosenberg what Washington can do to address the blending of Russian oil by the country's producers with crude from other nations to circumvent sanctions.

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