US lawmakers last week backed a plan to help Puerto Rico escape crippling debt and expand its economy, a move that could shortly put a rescue before the House of Representatives.
The SWIFT secure messaging service, which banks use to transfer money around the world, last week outlined areas in which it hopes to improve security, following attacks in which hackers stole millions of dollars from banks in Bangladesh and Ecuador.
The US derivatives regulator has adopted a final rule on margins for uncleared swaps that cross national boundaries, as it aims to shield the country from risks created when offshore deals go sour.
(Reuters) The European Central Bank will aim to start small when it begins buying corporate debt in June, seeking first to lure new issuers and then slowly raise the monthly pace of purchases to €5bn–€10bn, several central bank sources have told Reuters.
(Reuters) - Citigroup and its affiliates have agreed to pay a collective US$425m to resolve civil charges the bank attempted to manipulate several key benchmarks, including the US dollar ISDAFIX, the Yen Libor and the Euroyen TIBOR, the Commodity Futures Trading Commission said.