Connect to share and comment

Ex-chairman of Anglo Irish Bank cleared of fraud

The former chairman of the collapsed Anglo Irish Bank was found not guilty Wednesday of providing illegal loans to support the bank's share price, after an 11-week trial. Sean Fitzpatrick, 65, was cleared of providing unlawful financial assistance to 10 customers of the bank to buy shares in the lender in July 2008. The bank went bust shortly afterwards, leaving the Irish economy close to collapse.

Ex-chairman of Anglo Irish Bank cleared of fraud

The former chairman of the collapsed Anglo Irish Bank was found not guilty Wednesday of providing illegal loans to support the bank's share price, after an 11-week trial. Sean Fitzpatrick, 65, was cleared of providing unlawful financial assistance to 10 customers of the bank to buy shares in the lender in July 2008. The bank went bust shortly afterwards, leaving the Irish economy close to collapse.

Indonesia holds key interest rate at 7.50%

Indonesia's central bank held its benchmark interest rate at 7.50 percent Thursday for the fourth consecutive month as Southeast Asia's top economy showed signs of recovery from a tumultuous 2013. Indonesia's currency has strengthened in recent months after plunging by more than 20 percent last year and inflation is easing after almost doubling in 2013 from the previous year. Bank Indonesia governor Agus Martowardojo said earlier Thursday that the bank would not tolerate inflation beyond the 2014 target range of 3.5 percent and 5.5 percent.

Indonesia central bank holds key interest rate at 7.50%

Indonesia's central bank held its benchmark interest rate at 7.50 percent Thursday after recent signs that Southeast Asia's top economy is stabilising following a tumultuous 2013. Bank Indonesia had raised rates by 175 basis points between June and November after the stock market and rupiah plunged amid speculation that the United States would taper off its stimulus programme. Domestic woes added to the turbulence, with inflation almost doubling after a fuel price rise and the current account widening to a huge deficit.

Indonesian MPs to grill candidate for central bank governor

By Jonathan Thatcher JAKARTA (Reuters) - Indonesia's parliament will quiz its finance minister on Monday, to decide whether he is fit to take over as central bank chief, a job move that has raised concerns over the management of one of the world's fastest growing economies. President Susilo Bambang Yudhoyono has yet to explain why he chose not to renew the current governor's term, or the surprise nomination last month of Finance Minister Agus Martowardojo for a job that will remove him from the cabinet.

New Hungary central bank head moves fast to extend power

The new head of Hungary's central bank (MNB), an ally of Prime Minister Viktor Orban, has moved quickly to increase his powers, according to changes to the bank's statutes published on the bank's official website Tuesday. Orban's appointment of Gyorgy Matolcsy as governor last week was widely seen as a government takeover of the bank. Matolcsy's predecessor Andras Simor, whose six-year term expired March 2, often clashed with Orban's right-wing government over state interference in monetary policy and the bank's independence.

UPDATE 3-Indonesia fin min passes first hurdle to central bank

* Long, difficult road ahead for central bank nominee * Some lawmakers want president to nominate another candidate * Lawmaker asks Martowardojo to step down as finance minister (Adds date of next nomination hearing) By Rieka Rahadiana and Randy Fabi

Ex-Anglo Irish head facing second trial over bank meltdown

* Ex-Anglo CEO issued with more charges, faces second trial * Charged for misleading Anglo's auditors * Due to appear in court in March, no trial date set By Sarah O'Connor DUBLIN, March 1 (Reuters) - The former head of the defunct Anglo Irish Bank will face a second trial connected to Ireland's most expensive banking failure, charged with misleading auditors, a Dublin court heard on Friday.

Hungary central bank probed over IMF data transfer

Hungarian police are investigating the central bank on suspicion it provided the International Monetary Fund with confidential information on domestic banks, the chief prosecutor's office said Thursday. "The investigation was ordered on suspicion of abuse of authority and violations of rules on business secrets," Bettina Bagoly, the prosecutor's spokesperson, said in a state television interview. The probe was triggered by the country's State Audit Office (ASZ) which supervises the spending and legal compliance of public bodies.

Investigators in Anglo Irish probe win one-year extension

DUBLIN, Jan 17 (Reuters) - Investigators probing alleged fraud at the failed Anglo Irish Bank since early 2009 asked on Thursday for another three years to conclude their case and were told by a Dublin High Court judge to wrap it up in the next year. The Office of the Director of Corporate Enforcement (ODCE) and the police are investigating events leading up to the collapse of scandal-hit Anglo Irish Bank and have so far brought charges forward in two of the five strands to their case.
Syndicate content