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Barclays settles Libor 'test case' before UK trial

By Steve Slater LONDON (Reuters) - Barclays <BARC.L> has reached a settlement with a UK care home operator weeks before the start of a court case that was seen as a test case for whether customers might sue banks over the manipulation of Libor interest rates. Barclays had been accused by the care home operator of mis-selling products linked to benchmark interest rates and senior Barclays employees and former executives, including former chief executive Bob Diamond, had been due to testify at the trial.

Portion of household deposits tops 50 pct

SEOUL, April 1 (Yonhap) -- The weight of deposits held by households in local banks' total deposits surpassed 50 percent for the first time in about six years in January, data showed Tuesday, a sign that people not feeling economic recovery were choosing to save rather than invest or spend. The portion of household deposits accounted for 50.3 percent of local banks' total deposits with 1,008.9 trillion won (US$950 billion), according to the Bank of Korea (BOK). It marked the first time since October 2007 when the weight of household deposits hit 50.6 percent.

U.S. judge rules banks must face lawsuit over alleged rate rigging

By Dena Aubin NEW YORK (Reuters) - A federal judge in Manhattan has ruled that a group of international banks must face complaints that they violated the U.S. Commodity Exchange Act by manipulating yen-denominated interest rate benchmarks between 2006 and 2010. In a ruling on Friday, U.S. District Judge George Daniels also granted the banks' motion to dismiss related claims against them for antitrust violations and unjust enrichment.

Euro zone banks slow crisis loan returns as extra cash falls

FRANKFURT (Reuters) - The pace at which euro zone banks are repaying their crisis loans to the European Central Bank has slowed significantly as extra cash in the system reaches critically low levels. Banks will return 1.558 billion euros ($2.14 billion) to the ECB on April 2, a lot less than this week's repayments of 18.909 billion euros and also far below the 9 billion forecast in a Reuters poll. <ECB/REFI>

How rumor sparked panic and three-day bank run in Chinese city

By John Ruwitch YANCHENG, China (Reuters) - The rumor spread quickly. A small rural lender in eastern China had turned down a customer's request to withdraw 200,000 yuan ($32,200). Bankers and local officials say it never happened, but true or not the rumor was all it took to spark a run on a bank as the story passed quickly from person to person, among depositors, bystanders and even bank employees.

Banks' lending rates fall in Feb.

SEOUL, March 27 (Yonhap) -- South Korean banks' lending rates declined in February after rising for three straight months as housing lending rates fell, the central bank said Thursday. The average rate for new loans to households and firms stood at 4.58 percent last month, down 0.04 percentage point from the previous month, according to the Bank of Korea (BOK). The BOK froze the key interest rate at 2.5 percent for the 10th straight month in February after making its first rate cut in seven months in May last year.

Spooked by defaults, China banks begin retreat from risk

By Fayen Wong and Matthew Miller BEIJING (Reuters) - Some of China's struggling firms are finally getting the reception that regulators have been hoping for -- a cold shoulder from banks in the form of smaller and costlier loans. Reuters has contacted over 80 companies with elevated debt ratios or problems with overcapacity. Interviews with 15 that agreed to discuss their funding showed that more discriminate lending, long a missing ingredient of China's economic transformation, has become a reality.

Banks in Chinese city show stacks of cash to reassure depositors

By John Ruwitch YANCHENG, China (Reuters) - Rural banks in China's eastern city of Yancheng stacked piles of cash in plain view behind teller windows to calm depositors queuing at bank branches for a third straight day on Wednesday following rumors that they had run out of cash.

Fed corrects stress test results, says most changes minor

By Emily Stephenson WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday revised several banks' capital levels under stress a day after results of its closely watched industry health check were published. The revisions did not cause any additional banks to dip below the 5 percent minimum for top-tier capital in the Fed's annual stress tests on the country's biggest banks.

All big U.S. banks but one pass Fed's health test

By Emily Stephenson WASHINGTON (Reuters) - U.S. big banks have enough capital buffers to withstand a drastic economic downturn, the Federal Reserve said on Thursday, announcing that 29 out of 30 major banks met the minimum hurdle in its annual health check. All of the big banks except for Zions Bancorp <ZION.O> stayed above the 5 percent requirement for top-tier capital in the latest round of stress tests.
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