Finance

Our current high inflation rates and the recession that is probably facing the economy in 2023 have the fingerprints of Federal Reserve Board Chairman Jerome Powell all over them.

A former Deutsche Bank trader cleared of charges that he rigged the Libor benchmark rate has sued the bank for malicious prosecution, saying the company made false and misleading statements to get him prosecuted in the U.S.

While rising rates buoy revenue for the country's largest banks, in the short term they also force them to write down the value of assets they hold on their balance sheet, exacerbating a capital squeeze that's prompted most of them to halt buybacks.

Securities and Exchange Commission Chair Gary Gensler and Treasury Under Secretary for Domestic Finance Nellie Liang see urgency in shoring up liquidity in government debt markets during times of stress.

North Carolina Republican Patrick McHenry — who's in line to lead the House Financial Services Committee after the GOP won control of the chamber in the midterm elections — has called for the Fed to stay focused on controlling inflation. Democrats, who retained the Senate, have begun to voice concerns that higher borrowing costs will hurt jobs and potentially cause a recession.

Btech Consortium, a partnership between several small banks, a venture capital firm and an asset manager, will identify emerging technologies that meet their members' near-term needs.

The $121 billion-asset consumer lender paused its share repurchase program in July as it conducted an internal investigation of its servicing practices. Analysts said the resumption of buybacks is a positive sign regarding the company's ability to resolve the lingering issues.

Inconsistent rules for calculating bank capital threaten to cut off small banks from a key source of liquidity.

The Federal Reserve appeared closer to moderating aggressive interest rate increases after welcome news on inflation, with three officials backing a downshift even as they stressed that policy needs to stay tight.

Chancellor of the Exchequer Jeremy Hunt plans to cut a surcharge on U.K. bank profits, effectively shielding them from the bulk of an increase in the country's corporate tax rate as the government tries to preserve the competitiveness of Britain's finance industry.