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Banking

WireTap 0900 28/03/12

A round-up of the key stories across the specialist financial media, including reports that while European leaders are hopeful that an end to the crisis is close, Ben Bernanke is less confident on the situation in the US.


Europeans see crisis near end, Bernanke warns on recovery

European leaders signalled rising confidence that their region’s crisis is near an end, while Federal Reserve Chairman Ben Bernanke warned that a US recovery isn’t assured.

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BBA to launch crackdown on Libor rates

The sponsors of the London interbank lending rates used in $350tn in contracts worldwide are considering imposing tighter codes of conduct and new statistical controls at a time when regulators on three continents are probing allegations that the rates may have been manipulated

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Goldman weighs leadership change, strikes union deal

Senior executives within Goldman Sachs have talked about splitting the roles of chief executive officer and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labour union pension fund.

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BofA turning gaze overseas

Bank of America is assembling an international advisory board that would provide Chief Executive Brian Moynihan with guidance on global strategy, said people familiar with the situation.

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New York court rejects claim against UBS

New York’s Supreme Court has dismissed a fraud claim brought against UBS by HSH Nordbank over its sale of a complex mortgage product, a decision that lawyers said could have broader implications for investors seeking damages for losses incurred in the financial crisis.

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