Business news for Tue, 18 Dec 2007 & with word banks. 48 news.

Banking lobbyists are warning the US Treasury that regulations proposed in the wake of last year's sweeping anti-gambling law will be impossible to comply with unless the Bush administration clarifies its conflicting views on online betting

CHINA'S banking regulator said it will allow five overseas banks including Citigroup Inc to issue credit and debit cards in yuan for the first time once they meet "technical" standards. Other banks approved for card services in September were HSBC Holdings Plc, Bank of East Asia Ltd, Standard Chartered Plc, and Hang Seng Bank Co, Qi Jianming, deputy director of the China Banking Regulatory Commission, said in a live broadcast.

CHINA is studying extra lending curbs to prevent overheating in the world's fastest-growing major economy, according to a central bank official. The People's Bank of China is considering requiring a larger proportion of new deposits to be set aside as reserves, said a central bank official who declined to be named because he's not authorized to speak publicly. It's also studying larger reserve requirements for bigger banks with faster loan growth. Targeted curbs would restrain lending growth without hurting cash flow and profits at banks that haven't been taking on as many new deposits. The central bank raised the reserve ratio this month to 14.5 percent, the highest in at least 20 years, as excess liquidity fuels inflation and asset bubbles, Bloomberg News said. "A higher reserve ratio on new deposits will directly curb banks' ability to use the money to increase lending," said Wang Qian, an economist at JPMorgan Chase & Co in Hong Kong. "The central bank is

The monetary helicopters are getting bigger. When the European Central Bank conducted an auction, it initially expected to inject ?180.5bn ($260bn) of funding into the markets, based on its past benchmarks of what banks usually need

The European Central Bank and Bank of England flooded money markets with funds on Tuesday as the UK central bank chief warned of a possible "self-reinforcing" downward spiral in credit.

FT.com - Wall Street stocks battled through another volatile session on Tuesday after a massive injection of liquidity from the European Central Bank did little to calm fractious equity markets.

The stigma of borrowing from central banks has become so great since the summer, the Bank of England launched a root-and-branch review of its money market operations

Banks remain committed to launching a rescue fund as one option for aiding troubled structured-investment vehicles, despite the fact that a number of banks have said they would take the vehicles' assets onto their balance sheets.

NEW YORK (AP) - The rescue fund being created to reduce banks' losses in mortgage-backed...

Wall Street rebounded Tuesday from recent losses, pleased about Goldman Sachs' and Best Buy's solid profit gains and central banks' issuance of billions of dollars in loans to the world's commercial banks.

The Federal Reserve today unveiled home mortgage rules meant to curtail the subprime lending practices that have roiled the global financial system as European banks moved again to smooth credit markets and calm investors.

Cash-strapped banks took the Federal Reserve up on its offer of $20 billion in short-term loans to help them overcome credit problems, but the interest rate wasn't as low as some had hoped.

S&P said it cut 156 ratings on 36 U.S. collateralized debt obligations, which have been at the heart of steep write-downs at big banks and brokerage firms.

The European Central Bank said on Monday that it would lend banks as much in two-week funds as they are willing to pay for in its weekly refinancing auction.

European banks moved again on Tuesday to smooth credit markets and calm investors, as the Federal Reserve prepared to consider new home mortgage rules meant to curtail the subprime lending practices that have roiled the global financial system.

AP - Wall Street rebounded Tuesday from recent losses, pleased about Goldman Sachs' and Best Buy's solid profit gains and central banks' issuance of billions of dollars in loans to the world's commercial banks.

Reuters - Stock index futures signaled a higher open on Wall Street on Tuesday, with the banking sector set to lead the market up after Goldman Sachs Group Inc reported higher earnings.

Stock were poised for a much-needed rebound Tuesday as central banks around the world tackled the credit crunch and Goldman Sachs and Best Buy delivered with strong quarterly earnings.

Goldman Sachs said on Tuesday that its fourth-quarter profits rose 2 percent over the same time last year, posting a modest gain at a time when other investment banks are expected to post lower earnings or even a loss. The firm earned $3.22 billion on revenues of $10.74 billion, or $7.01 a share. Analysts surveyed by [...]

The European Central Bank and Bank of England flooded money markets with funds on Tuesday.