How Bafin boss Felix Hufeld justifies himself

Berlin, Frankfurt Felix Hufeld was more important for the finance politicians this Wednesday afternoon than the Chancellor. The hearing of the Bafin chief in the finance committee should actually end by 1 p.m. at the latest, since then Angela Merkel (CDU) commented on the German EU Council Presidency in plenary. However, from the point of […]

Japan’s major banks defy the crisis with profit forecasts

Tokyo Tatsufumi Sakai, head of Japan’s third largest financial group, Mizuho, ​​gave a thoughtful tone: “We are in an unprecedented crisis, in which demand is currently dwindling and the global economy is slumping,” he warned when presenting the annual balance sheet on Friday. The future is uncertain and he may revise his earnings forecast depending […]

Banks and savings banks charge an average of almost ten percent overdraft interest

Berlin For more and more people in the corona crisis it is foreseeable that they will reach the financial limit at the end of the month and have to overdraw their account. Finally, unemployment rises and short-time work rises to unprecedented heights. How expensive it can be for consumers to overdraw their accounts is shown […]

Regulators criticize the lack of progress at Deutsche Bank

Improving ailing relationships with regulators is a top priority for Christiana Riley. A third of her time is reserved for this, the American head of Deutsche Bank said in an interview with the Handelsblatt in December. “If that doesn’t work, then the energy is wasted on other things,” she said. So far, however, little has […]

Banking sector can survive crisis with some injuries

Federal Financial Supervisory Authority The Bafin held its annual press conference 2020 on Tuesday. (Photo: dpa) Frankfurt The BaFin financial regulator sees German banks as relatively resilient in the corona crisis. “The banking sector has what it takes to weather the crisis – albeit with some injuries,” said BaFin boss Felix Hufeld on Tuesday. But […]

EU Ombudsman criticizes change from banking supervision to finance lobby

Brussels The European Ombudsman has officially criticized the move from a top manager of the European Banking Authority (EBA) to a financial lobby association. The EBA should not have allowed this step, said Ombudsman Emily O’Reilly in Brussels on Monday. In addition, the EBA should have protected its internal data immediately when the move became […]

Athens wants to protect money houses with bad banks

Athens The corona pandemic plunges Greece into a deep recession. For commercial banks, the economic downturn comes at the worst possible time. They had just started paying off the mountain of bad loans to clean up their balance sheets. This consolidation is now stalling. A new wave of loan defaults is coming to the financial […]

Corona crisis could hinder Bad Bank dismantling

A street sign in front of the Deutsche Bank headquarters Deutsche Bank is facing headwinds in dismantling its internal “bad bank”. (Photo: Bloomberg) Frankfurt, New York Deutsche Bank is struggling with violent headwinds in dismantling its internal “bad bank”. Settling the unit, which still has a balance sheet risk of 44 billion euros, could become […]

Money laundering is becoming a growing problem in the corona crisis

Brussels Europol has alarmed the EU Commission: Financial crime is increasing noticeably in the corona crisis. “Europol and national law enforcement agencies are registering an increase in online crime such as counterfeiting, fraud and cybercrime,” said Brussels. The perpetrators tried to launder the proceeds of such offenses – “an increasing risk for the banks”. The […]

Credit deferrals: consumer advocates warn banks

Frankfurt The debate about possible interest payments for loans deferred in the corona crisis is intensifying. Germany’s top consumer protector Klaus Müller attacks financial institutions that charge interest for the period of the repayment suspension in clear terms: “It must not be that banks enrich themselves during the crisis,” said the head of the Federation […]