Finance ministers call for tight regulation of cybercurrencies; Williams says the Fed must “act quickly to lower rates at the first sign of economic distress.”
Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition.
The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor.
Investors eye how low rates, flat yield curve will affect bank profits; agency is determining if it has oversight power over Facebook’s planned cryptocurrency.
The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”
The bank will reduce its footprint to its German roots; U.S. banks are offering cash bonuses to keep customers from fleeing to higher-yielding accounts.
