Fastinform

Switzerland-based investment bank Credit Suisse wants to further its connection and finalize more partnerships with Swiss insurers as COVID-19 progresses, partly to better reach a younger demographic.

The Bank of Canada said Monday it will gradually revert its expanded credit policy back to its original levels in the next six weeks, in response to the country’s improved short-term funding conditions during the COVID-19 pandemic.

U.S. commercial and multifamily mortgage originations dropped off about 48% year over year in the second quarter, largely in line with a bleak 2020 forecast, but may rebound next year, the Mortgage Bankers Association said Friday.

U.S. President Donald Trump continued to fight a New York prosecutor’s attempt to seek his tax returns and sought more details about a probe which has been suggested to include bank and insurance fraud allegations as well as claims of hush-money payments.

American International Group will be covering most of the reinsurance costs associated with the Air India Express plane that crashed at an Indian airport and killed 18 people, according to local media reports.

Fitch Ratings put two French subsidiaries of Aviva on negative ratings watch, citing the U.K. parent company’s strategic direction, which appears to involve pulling back from doing business in some markets abroad.

The head of Iran’s insurance regulator said Monday that the country will not pay compensation to Ukranian National Airlines related to Iran’s shooting down of a jetliner because the plane was insured by European firms.

A Norwegian financial watchdog raised concerns about the appointment of Nicolai Tangen to lead the country’s sovereign wealth fund, reigniting controversy over Tangen’s use of tax havens and potential conflicts of interest.

Banks in the U.K. are bulking up reserves for loan losses at an alarming rate, more than those in any other European region, suggesting a weakening economy could be on the horizon for the country, Fitch said.

Despite escalating tensions between China and the U.S., China’s central bank head pledged Sunday to “resolutely deepen” integration between the world’s two largest economies by continuing to eliminate ownership restrictions for foreign financial firms.

Canadian fintech Interac’s electronic funds transfer platform was “critical” to the country’s economic activity and will be brought under increased government oversight, the country’s central bank said Monday.

The Shanghai Financial Court ruled that state-owned Everbright Capital Investment must pay a total of around RMB 3.5 billion ($502.7 million) to two partner investors over losses they incurred from the acquisition of a British sports media company that went bust.

Portugal’s largest banks reserved heavily for loan losses in the first half of 2020, causing a sharp drop in earnings, even as the country’s government attempts to avert a credit crisis, DBRS Morningstar said Monday.

Allianz Capital Partners said on Monday that its inaugural global infrastructure fund hit its first close, reaching more than EUR 600 million ($704.19 million) worth of commitments.

Duck Creek Technologies, a software provider for property and casualty insurers, intends to raise $300 million in an initial public offering, becoming the latest company looking to capitalize on investor appetite for insurtech.

Collateralized loan obligations, once abundant before the 2008 financial crisis, are having a resurgence as the economic slowdown compels borrowers to seek out new sources of liquidity, DBRS Morningstar said Monday.

The world’s largest retail digital payments network is poised to make an unprecedented green bond offering, a Monday filing with the U.S. Securities and Exchange Commission shows.

Financial services company Interactive Brokers must pay a total of $38 million to several U.S. regulatory organizations to settle claims that the company failed to properly detect and report suspicious transactions as required by federal anti-money laundering laws.

Non-listed regional Chinese banks will benefit from the recent resumption of equity private placement approvals, which function as an important source of capital, Moody’s Investors Service said in a new report released Monday.

Prices in the global commercial insurance market showed a record surge over the past three months, following 10 consecutive quarters of increases, as rates continued to rise in property and financial and professional lines.