This week's risk management news includes BNY Mellon’s $2b lawsuits, Indonesia’s counter for global risks, and declining bank default in Europe.
October 12, 2011 | The Asian Banker Editor
BNY Mellon faces $2 billion in lawsuits over pension frauds
The city and state of New York and US Department of Justice have filed separate lawsuits against Bank of New York Mellon, alleging the world’s largest custody bank defrauded pension funds, US banks and millions of investors nationwide on currency transactions for 10 years.
Indonesia cuts rates to counter global risks
Indonesia's central bank unexpectedly cut its benchmark policy rate, the first such move by a G20 member after Brazil, as Jakarta seeks to stimulate domestic demand and maintain investor confidence in Southeast Asia's biggest economy.
Bank default risk declines in Europe on recapitalization wagers
Credit-default swaps insuring European bank debt fell to the lowest in five weeks on speculation policy makers will inject more capital into lenders so they can withstand government bond losses.
Re-disseminated by The Asian Banker
Categories:
Risk And Regulation Working GroupKeywords:BNY Mellon, Indonesia, Europe
