Fed claims 15 of 19 banks have enough capital to cope with worst economic scenario

Source: Bloomberg
Federal Reserve reported on Tuesday 15 of 19 lenders would be capable to keep their capital amounts above a required minimum and even maintain dividend payout in case of extremely unfavourable economic scenario. Fed's test assumed jobless rate at 13%, a fall in share prices at 50% and a drop in housing market by 21%. Of leading banks Citigroup failed to fulfil some minor standards and was required to resubmit the capital plan.
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Wed, 14 Mar 2012 07:49:34 GMT

Aussie and Kiwi maintain gains against Yen

Australian and New Zealand Dollar climbed against their Japanese peer on Wednesday as appreciating commodities stimulated higher earnings expectations in exports. Both currencies declined against US Dollar on Fed's improved assessment of US economy. Aussie gained 0.2% versus Yen to JPY 87.71 and fell 0.1% against greenback to USD 1.0544. Kiwi advanced to JPY 68.28 versus and slipped 0.3% against its US peer to USD

Tue, 13 Mar 2012 18:19:33 GMT

EU suspends rescue package for Hungary because of budget deficit

The EU has decided to freeze the rescue fund worth about 495 million Euros that had to be provided to Hungary in 2013. The EU explained that Hungary's debt exceeded 3% of GDP, the maximum stipulated by the Excessive Deficit Procedure rules. Hungary expects the EU to reassess the move in June, said Margrethe Vestager, Danish economy minister. At the

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