Banking

Falling mortgage profits hurt U.S. banks Fallback Image Decorative pattern

Industry

Falling mortgage profits hurt U.S. banks

U.S. banks are feeling the pinch as mortgage profits get eroded by rising cost of funding mortgages and a narrowing of the spread between revenue from bond investors and what the banks charge borrowers. Although mortgage rates rose 11 basis points to 3.53% recently, it has done little to boost lenders’ profits, reports FT.com. Banks […]

By Staff |February 1, 2013

1 min read

High costs deter foreign banks’ India expansion Fallback Image Decorative pattern

Economic Indicators

High costs deter foreign banks’ India expansion

Goldman Sachs and Morgan Stanley have backed away from their aggressive pursuit of a full banking licence to operate in India, a decision that points to the growing cost of expanding business in India, reports FT.com. While Morgan Stanley has decided to withdraw its application for a commercial banking licence, Goldman Sachs, which also applied […]

By Staff |January 31, 2013

1 min read

TD bank dragged into U.S. gun debate Fallback Image Decorative pattern

Industry

TD bank dragged into U.S. gun debate

The TD Bank has drawn the ire of a U.S. politician over allegations that the bank finances Smith & Wesson.

By Staff |January 28, 2013

1 min read

Banks warned about living wills Fallback Image Decorative pattern

Industry

Banks warned about living wills

U.S. watchdogs have warned mega banks about the upcoming release of new “living wills” guidelines.

By Wire services |January 28, 2013

1 min read