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BANKING NEWS

China banks risk Lehman moment as wholesale borrowing rises

China banks risk Lehman moment as wholesale borrowing rises
By: Gabriel Wildau in ShanghaiPotential for contagion as banks move away from deposit fundingChinese banks are increasingly reliant on funding sources that Western peers used before the financial crisis, leading investors and analysts to warn that ...

Citigroup CFO says cut in US tax rate could bring $4 billion charge

Citigroup CFO says cut in US tax rate could bring $4 billion charge
If federal corporate tax rates decline 20 percent under President-elect Donald Trump, Citigroup may have to take a $4 billion charge to profits to reflect lower values for its deferred tax assets, the bank's chief financial officer said on ...

EU regulators readying fines for HSBC, JPMorgan, Credit Agricole - sources

EU regulators readying fines for HSBC, JPMorgan, Credit Agricole - sources
By Foo Yun Chee | BRUSSELS EU antitrust regulators are set to fine Europe's biggest bank HSBC (HSBA.L), JPMorgan (JPM.N) and Credit Agricole (CAGR.PA) by the end of the year for rigging financial benchmarks linked to the euro, two people ...

Banks in U.K. Paid $42 Billion in Tax Last Year, BBA Study Finds

Banks in U.K. Paid $42 Billion in Tax Last Year, BBA Study Finds
By Stephen MorrisInternational banks in Britain paid $21 billion to Treasury Report comes amid bank lobbying for tax cuts after Brexit Banks in the U.K. paid 34.2 billion pounds ($42 billion) in tax in the latest fiscal year, 9 percent more than a year ...

HSBC profits fall almost 50% in 2016

HSBC profits fall almost 50% in 2016
By Jill Treanor Pre-tax profit was $10.6bn, down from $19.7bn a year ago, thanks to the sale of its Brazilian unit and currency movements HSBC’s profits fell almost 50% in the first nine months of the year when Britain’s biggest bank was knocked by ...

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