Banking News

A new firm formed by former distressed debt executives from Barclays is preparing to hit the fundraising trail in search of about $1 billion, according to two people with knowledge of the situation.

The Toronto stock market closed lower Wednesday as the initial run of earnings from the big Canadian banks failed to impress and persuaded investors to take some profits from a sharp runup in banks and insurers this year.

Fifth Third Bancorp , a large U.S. midwest regional bank, agreed to pay $6.5 million to settle U.S. Securities and Exchange Commission charges that it accounted improperly for troubled commercial real estate loans during the 2008 financial crisis, reducing its reported loss.

Top US banks including Bank of America and Citigroup Inc failed to comply with some provisions of a government settlement to improve mortgage servicing practices, a monitor of the settlement said on Wednesday.

The Bank of Canada is not expected to move interest rates higher or lower today when it announces its trend-setting rate.

In this Aug. 9, 2012 file photo the logo of Swiss UBS bank is pictured under dark clouds in Zurich, Switzerland.

Builders work on a construction site in Madrid, Spain, Tuesday, Dec. 3, 2013. Official figures show the number of people registered as unemployed in Spain fell by a little under 2,500 in November, the first drop during the month since the current system was introduced 1997.

U.S. banks are likely to cut back on risky short-term funding if markets believe bankruptcy not bailouts await them, a top Federal Reserve is set to tell lawmakers on Tuesday.

Japan's securities watchdog will recommend that a Tokyo-based unit of Deutsche Bank be sanctioned for excessive entertainment of pension fund executives, sources with knowledge of the matter said on Wednesday.

Northeast Indiana officials annually compare this region's performance with 14 Midwestern cities, chosen for their similarity to Fort Wayne.

Baja Mining Corp. . Miner. Down a penny, or 66.67 per cent, at half a cent on 36.30 million shares.

The Toronto stock market headed lower late morning Monday, held back primarily by the financials group even as Bank of Montreal announced a dividend increase and posted earnings that beat expectations.

A growing number of Canadian businesses are betting against BlackBerry as they consider how to spend their future technology budgets.

Bank of Montreal says its annual net profit hit a record $4.2 billion in 2013, with strong performances from its wealth management and its main Canadian banking operations.

The price of lords-a-leaping and ladies dancing has spiked this holiday season, but other items mentioned in the carol 'The Twelve Days of Christmas' still cost the same as they did last year.

The Federal Reserve Bank of Philadelphia has released its latest economic index , and it's not good news for Ohio.

The $175 million recapitalization of Anchor BanCorp Wisconsin Inc. allowed it to report its first quarterly profit in several years, according to a news release.

Bank of Marin Bancorp , parent company of Bank of Marin, has announced the completion of the merger of NorCal Community Bancorp, parent company of Bank of Alameda into BMRC, effective Nov. 29, 2013, according to a BMRC press release.

John Stumpf, chairman and CEO of Wells Fargo & Co. , has been named American Banker 's "2013 Banker of the Year."

Bank of America will pay $404 million to mortgage buyer Freddie Mac to settle all remaining claims over home loans sold in the previous decade.