ECB Says European Banks Are Too Optimistic About Macro Risks

There is “a certain reluctance on the part of banks to seriously engage in supervisory discussions” about economic risks, ECB Supervisory Board Chairman Andrea Enria said Tuesday according to prepared remarks for a speech in Vienna. That attitude is unacceptable because “the Russian invasion of Ukraine is developing into a persistent and fully-fledged macroeconomic shock,” … Read more

ECB May Ease Pace of Interest Rate Hikes in 2023, Villeroy Says

“We should get there without hesitation,” Villeroy said in an interview with Dutch newspaper NRC published on Tuesday. “We could start then a second part of the journey, a more flexible and possibly slower one: I don’t say that rate hikes will stop there, but we will have to comprehensively assess the inflation and economic … Read more

Credit Suisse Rehires Health-Care Investment Banker Nikhil Goel

Goel resigned last year to join Absci Corp. as chief strategy officer after more than five years at Credit Suisse, where he was last a director. His move back to the bank comes amid both an effort by management to replenish senior ranks after a slew of defections and a comprehensive strategic review. Over the … Read more

Credit Suisse Seeks to Ease Jitters After Turnaround Speculation

“Our priority continues to remain with our clients and providing them with first-class services, and on building back Credit Suisse’s reputation, restoring our financial performance and positioning the bank for a successful future, where we can realize its full potential,” the executives said.

India Seeks to Separate Lenders to Ease Clean Energy Financing

The government is discussing a plan for state-run Power Finance Corp. to sell its controlling stake in REC Ltd. to transmission utility Power Grid Corp., Raj Kumar Singh, the nation’s power minister, said in an interview in New Delhi. Power Finance and REC will enjoy their different exposure limits as separate companies, potentially resulting in … Read more

Jerome Powell to the Rest of the World: Drop Dead

(Bloomberg Opinion) — Ouch. If Americans expected inflation to peak in the summer, the US consumer price inflation report for August has dashed those hopes. But it’s going to be a double ouch for almost everyone who doesn’t reside in the world’s biggest economy. That’s because the US Federal Reserve and its chair Jerome Powell … Read more

Bank of America Offers Up to Six Weeks Paid Sabbatical for Longtime Workers

Bank of America’s sabbaticals increase over time, amounting to five weeks for those who have worked between 20 and 25 years, and six weeks for 30 years or more, according to the memo. The paid time off is in addition to vacation days, a person familiar with the program said, asking not to be identified … Read more