The Swiss National Bank (SNB) will not accept Swiss inflation above its target of 0-2%, Chairman Thomas Jordan said, adding that tolerating a steeper rate of price rises could mean even higher inflation in future.
Russia's largest lender Sberbank has started arranging payment holidays on loans for servicemen, in line with Russian legislation that seeks to ease the financial burden on those called up to fight in Ukraine.
The Bank of England must stick to its plan to quash the surge in inflation even if it means more pain for Britain's economy, Deputy Governor Dave Ramsden said, adding the new government's tax cuts could add to the inflation challenge.
Credit Suisse will buy back up to 3 billion Swiss francs ($3 billion) of debt, an attempt by the Swiss bank to show its financial muscle and reassure investors concerned about the lender's overhaul and how much it may cost.
The cost of insuring exposure to debt issued by Credit Suisse dropped on Friday after the Swiss lender said it would buy back up to 3 billion Swiss francs ($3 billion) of debt.
Sumitomo Mitsui Financial Group Inc (SMFG) has been told to devise measures to improve compliance by Japan's financial regulator after the group's banking and securities arms were found to have violated intra-group firewall rules.
Mubadala Capital LLC, Abu Dhabi's state investor, is set to lead a funding round of up to 550 million reais ($106.6 million) in Brazilian receivables exchange Cerc, the Brazilian firm said on Thursday.
Rating agency Moody's Investors Service expects losses for Credit Suisse to swell to $3 billion by year-end, potentially bringing its core capital below the key 13% level, Moody's lead analyst on the bank told Reuters.
Foreign bank branches in the European Union would not automatically become a costlier subsidiary if their business reached a certain "systemic" size, the Czech EU presidency proposed on Thursday.
