Bank of Dave competes with semi-nationalised banking group zombies that appear to be being run for the sole purpose of being granted huge amounts of money that they are free to hoard whenever the central banks deem it appropriate to depreciate our currencies some more. ...

But a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures. ...

Most of the largest banks passed their annual stress test, according to the Federal Reserve, in a conservative report card that underscored the recovery of the financial sector but called out a few laggards, including Citigroup. [caption id="attachment_6487" align="alignright" width="300" caption="A television screen shows Federal Reserve rate decision on the floor of the New York Stock Exchange March 13, 2 ...

Let's speak plainly. If you are in the United States or Western Europe, chances are incredibly high that your bank is simply not safe. In other words, your money is at risk. Big time. Let's review some of the chief concerns: 1) A black box of assets Banking is a complicated industry... and especially when larger banks are concerned, nobody really [caption id="attachment_4126" align="alignright" width="300" ...

Fitch has downgraded six of the world's largest banks, citing the challenging financial markets. The banks include Bank of America and Goldman Sachs in the US, the UK's Barclays and France's BNP Paribas. Germany's Deutsche Bank and Switzerland's Credit Suisse were also cut. [caption id="attachment_3696" align="alignleft" width="300" caption="Banks and credit markets have been squeezed by fear over the euroz ...

Investors around the world raced to scoop up stocks on Wednesday, after the Federal Reserve said it will work with other central banks to support the global economy. All three major stock indexes closed the day up more than 4%. The Dow's 489-point gain is the largest of 2011 and the best percentage gain since March 2009. Still, despite today's run-up, the Nasdaq and S&P 500 are down for the year. The ce ...

Some of the world's biggest central banks have announced a programme of co-ordinated action designed to support the global financial system. The US Federal Reserve, the European Central Bank (ECB), the Bank of England and the central banks of Canada, Japan and Switzerland are all involved. [caption id="attachment_2288" align="alignright" width="300" caption="The Bank of England is one of six central banks t ...

RBA cuts rates by 25 basis points Statement from Reserve Bank of Australia "With labour market conditions now softer, the likelihood of a significant acceleration in labour costs outside the resources and related sectors in the near term has lessened. Accordingly, the Bank's current judgement is that inflation is likely to be consistent with the 2 to 3 per cent target in 2012 and 2013. Financial conditions ...

Source: Sky News Eurozone leaders have sealed a three-part deal, which they hope will convince markets they have an effective response to the growing economic crisis. Officials in Brussels said an accord had been reached with banks on a 50% write-off of Greek debt. They have also approved a complex mechanism for "leveraging" an existing bailout fund to boost its firepower. It means that, coupled with an ear ...