Fed to review stress test procedures after correction

(Reuters) - The Federal Reserve on Saturday said it was reviewing the procedures of a closely watched exam banks must pass each year to prove their robustness after it had to correct the results.

British Insurance Stocks Fall on Regulator’s Plans for Review

LONDON – Shares of British insurers slumped Friday after the Financial Conduct Authority confirmed it planned to conduct a review later this year on whether long-standing customers were being treated fairly by their insurers.

Fed's Bullard: Financial Stability Concerns Loom Large

HONG KONG – St. Louis Federal Reserve Bank President James Bullard said Thursday that the key risk for U.S. economy would be a bubble forming as the central bank removes monetary-policy accommodations, while he also raised concerns about financial stability in the U.S. economy.

RBA says no immediate financial stability risks from house prices

The Reserve Bank of Australia does not see financial stability risks from rising house prices, but with its cash rate at a record low 2.5% it is actively monitoring the industry, according to comments from the biannual Financial Stability Review published Wednesday.

IMF signs off on latest review of Romania aid program

(Reuters) - The International Monetary Fund approved the first and second reviews of Romania's aid deal on Wednesday, after weeks of bickering over taxes between the government and the president threatened to derail years of deficit-cutting reforms.

UK inflation hits new four-year low in February, house prices up sharply

(Reuters) - British inflation fell to its lowest in more than four years in February, dipping further below the Bank of England's target and easing the pressure on Britain's living standards.

Canada to Reform Local Libor-Style Rates, BOC’s Lane Says

The Bank of Canada is taking steps to shore up governance of the local equivalents of benchmark Libor rates, to ensure there are no manipulation scandals as seen in other countries, Deputy Governor Tim Lane said.

IMF's Lagarde says can't do much about reform without U.S. support

(Reuters) - International Monetary Fund chief Christine Lagarde said on Sunday that there was not much she should could to push reform at her organization and give emerging economies a bigger say without the support of the United States.

Fed's Stein: Financial Stability Considerations Should Influence Monetary Policy

WASHINGTON--Federal Reserve Governor Jeremy Stein on Friday said the central bank should raise interest rates when needed to prevent financial excesses from building in markets and argued the bond market may provide guidance to policy makers on when financial vulnerabilities exist.

Russian shares fall sharply on Western sanctions

Russian shares fell sharply on Friday as investors weighed the impact of western sanctions over Ukraine.

Spain Reaps Investment Boon as Rajoy Reforms Lure FDI

Prime Minister Mariano Rajoy’s progress in luring investors back to Spain is spreading well beyond the bond market.

Mark Carney says Bank of England needs more power

Mark Carney said that a more powerful Bank of England was needed to prevent future financial crises and sought to distance himself from a "fatally flawed" central banking model brought in by Tony Blair's Labour government.

Treasury’s Cohen Sees No Widespread Criminal Bitcoin Use

The U.S. government sees no evidence of “widespread” use of virtual currencies such as Bitcoin to evade sanctions or finance terrorism, the Treasury Department’s top official targeting money laundering said.

Italy PM Renzi says to accelerate growth and respect EU limits

(Reuters) - Italian Prime Minister Matteo Renzi said on Monday the goal of his government is to increase the country's growth rate, which has been among the lowest in the euro zone for more than a decade, while respecting European Union budget limits.

China's high wire act on failing companies

China looks ready to let more companies go to the wall as part of its economic reforms, shaking financial markets that are used to the government bailing out firms at the last minute.

Fed vice chair nominee Fischer stresses financial stability

SAN FRANCISCO/ NEW YORK (Reuters) - Stanley Fischer, U.S. President Barack Obama's pick for the No. 2 spot at the Federal Reserve, dove in Wednesday to one of the most important debates at the U.S. central bank, as he called for making financial stability an "explicit" policy focus.

Russian central bank keeps rates on hold, prioritises financial stability

MOSCOW, March 14 (Reuters) - The Russian central bank kept its key lending rates unchanged at a regular meeting on Friday, after unexpectedly raising them two weeks ago when assets tumbled on President Vladimir Putin's declaration he had the right to invade Ukraine.

Draghi Says ECB Guidance May Help to Curb Euro Strength

European Central Bank President Mario Draghi said his forward guidance may help to weaken the euro and lower real interest rates, easing the risk that inflation won’t return to the goal set by policy makers.

UK financial body urges quick action over foreign exchange 'fixing'

LONDON (Reuters) - Regulators should deal quickly with allegations that banks have rigged the $5.3 trillion-a-day foreign exchange market to avoid harming Britain's reputation as a financial centre, a top industry official said on Tuesday.

BOJ to hold fire but exports seen as a concern

TOKYO, March 11 (Reuters) - The Bank of Japan is expected to maintain its massive monetary stimulus on Tuesday on a view the economy can weather a sales tax increase in April without extra support, although there is expected to be some concern about weakness in exports.

White House has optimistic growth forecast for 2014, 2015

(Reuters) - The White House on Monday forecast more robust economic growth in 2014 than last year and a further pickup in the economy for 2015.

UK economy to hit pre-recession peak by summer, BCC says

The size of the overall UK economy will this summer overtake the peak level it was at before the 2008 financial crisis, a business lobby group says.

Canada, South Korea close to free trade deal: Canadian PM

(Reuters) - Canada Prime Minister Stephen Harper said on Sunday he hopes to finalize a free trade agreement with South Korea during a trip there this week.

China allows first ever corporate bond default

A Shanghai solar panel maker has become the first ever Chinese company to default on its corporate bonds, after the government refrained from bailing it out on Friday.

ECB trims inflation, raises growth forecasts for 2014

ECB president Mario Draghi told a news conference that the central bank is pencilling in economic growth of 1.2 percent in 2014, 1.5 percent in 2015 and 1.8 percent in 2016.

BoE's Haldane says IMF needs more funds

MANCHESTER, England (Reuters) - The International Monetary Fund needs more money to become a better bulwark against financial crises spreading, a senior Bank of England official said on Wednesday.

Obama budget plan claims $5.3 trillion in deficit reduction

WASHINGTON, March 4 (Reuters) - President Barack Obama's fiscal 2015 budget aims to keep alive hopes for major deficit reduction by claiming that proposed tax hikes and spending proposals, coupled with previous actions, will lead to $5.3 trillion in budget savings over 10 years.

Conflict in Ukraine would destroy regional stability: PM

KIEV (Reuters) - Ukrainian Prime Minister Arseny Yatseniuk warned on Monday that a military conflict in his east European country would threaten the stability of the whole region.

European center-left launches election drive, attacks austerity

(Reuters) - European center-left parties called on Saturday for a change to austerity policies enacted to counter the euro zone crisis as they named Martin Schulz to be their candidate for next head of the European Commission.

U.S. GDP revised down, but hints of economic thaw emerge

(Reuters) - The U.S. government slashed its estimate for fourth-quarter economic growth on Friday in the latest sign of a loss of momentum, but some tentative signs emerged that suggested the worst of the slowdown may be over.

Yen Rallies Versus Euro on Crimea Tensions; Yuan Drops

The yen headed for its longest rising streak versus the euro in 15 months, the ruble slid and Ukraine’s currency fell a fifth day amid tensions over the Crimea region.