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European Banking Editor — Wall Street Journal

European banking editor for The Wall Street Journal. Mustn't grumble. david.enrich@wsj.com

Switzerland’s Eurofin in Process of Largely Shutting Down

online.wsj.com — A Swiss financial company embroiled in the Espírito Santo saga is in the process of largely shutting down, according to people familiar with the matter. The Lausanne-based company, Eurofin Holding SA, is selling or spinning off businesses and winding down asset portfolios, these people said.

Five banks agree to pay $3.3 billion to settle forex probe

marketwatch.com — LONDON-Five banks agreed Wednesday to pay a total of about $3.3 billion to U.S., British and Swiss regulators to resolve allegations that they tried to manipulate the vast foreign-exchange market. The settlements resolve long-running investigations by the U.K.'s Financial Conduct Authority, the U.S. Commodity Futures Trading Commission and Switzerland's Finma.

Banks reach settlement in FX-rigging probe

efinancialnews.com — Five banks have agreed to pay a total of about $3.3 billion to US, British and Swiss regulators to resolve allegations that they tried to manipulate the vast foreign-exchange market. Breaking industry news & commentary 10 year searchable archive FN Powerlists & Special Reports FN on mobile and iPad

Swiss regulator sends warning letters to individuals in currencies probe

efinancialnews.com — Switzerland's financial markets regulator warned several past and present UBS employees Tuesday that they face potential enforcement actions for their alleged roles in misconduct in the foreign-exchange markets, according to people familiar with the matter.

Swiss Regulator Sends Warning Letters to Individuals in Currencies Probe

online.wsj.com — LONDON-Switzerland's financial markets regulator warned several past and present UBS AG employees Tuesday that they face potential enforcement actions for their alleged roles in misconduct in the foreign-exchange markets, according to people familiar with the matter. The warning letters from the regulator, known as Finma, were sent to approximately 10 past and present UBS employees, these people said.

Regulators edge toward foreign-exchange settlement with banks

marketwatch.com — LONDON - Regulators in the U.S. and U.K. are nearing a deal with as many as seven large banks to resolve allegations of misconduct in the currencies market, with a settlement likely in the next two weeks, according to people familiar with the negotiations.

Monte dei Paschi Is Formally Up for Sale

online.wsj.com — Banca Monte dei Paschi di Siena SpA, Italy's No. 3 bank and the world's oldest, is up for sale, according to people familiar with the matter. The Tuscan lender, the worst performer in Europe's recent banking "stress tests," has hired investment bankers at UBS AG and Citigroup Inc.

Regulators edge toward FX settlement with banks

efinancialnews.com — Regulators in the US and UK are nearing a deal with as many as seven large banks to resolve allegations of misconduct in the currencies market, with a settlement likely in the next two weeks, according to people familiar with the negotiations.

Regulators Edge Toward Foreign-Exchange Settlement With Banks

online.wsj.com — LONDON-Regulators in the U.S. and U.K. are nearing a deal with as many as seven large banks to resolve allegations of misconduct in the currencies market, with a settlement likely in the next two weeks, according to people familiar with the negotiations. Regulators including the U.K.'s Financial Conduct Authority and the U.S.'s Office of...

As Ireland Flails, Europe Lurches Across the Rubicon

online.wsj.com — DEAUVILLE, France-On Oct. 18, Angela Merkel and Nicolas Sarkozy took a sunset stroll on the beach of this chic casino resort. Five months earlier, Europe had committed more than $100 billion to rescue Greece. Now the Continent's debt crisis was moving on to Ireland, and the German leader worried Berlin would have to foot the bill for this and future bailouts.
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Nov 22, 2014

After 4 years in China, @WSJ's Bob Davis concludes that "we are witnessing the end of the Chinese economic miracle." on.wsj.com/14XYllx

Nov 21, 2014

In addition to one big error, RBS made a bunch of smaller mistakes in stress-test data. otp.investis.com/clients/uk/rbs… pic.twitter.com/TdpvLjrS0p

Nov 21, 2014

Snake-bit RBS discloses stress-test error that dramatically improved its results. on.wsj.com/1F8N2l6

Nov 21, 2014

@M_C_Klein correct. It was BOE's responsibility. But EBA does get told when errors are detected.

Nov 21, 2014

@M_C_Klein they compiled the stress-test data and amended RBS's data when alerted to error

Nov 21, 2014

Key question with RBS stress-test error is if other banks had similar mistakes. EBA tells us answer appears to be no. wsj.com

Nov 21, 2014

RBS's stress-test errors are latest in a pattern of problems with the test data. online.wsj.com/articles/europ…

Nov 21, 2014

RBS admits stress-test errors inflated its results. Would have barely passed with 5.7% ratio, not 6.7%. pic.twitter.com/iH4HSV9yYS

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