News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

ECB Calls for More Pan-European Bank Mergers

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The European Central Bank called on eurozone banks to engage in more cross-border mergers, warning that a lack of integration in the region's financial markets harmed its ability to set monetary policy.

Fed Markets Lieutenant Suggests Reverse Repos May Be Too Critical to Phase Out

Federal Reserve Bank of New York Senior Vice President Lorie Logan suggested that a key part of the central bank's post-crisis toolkit for controlling interest rates is so helpful, it may be challenging to remove it again.

Jim Chanos Predicts Stock Drop for Mallinckrodt

Noted short-seller Jim Chanos predicted a fall for shares of pharmaceutical maker Mallinckrodt PLC at the annual SALT hedge fund conference in Las Vegas on Thursday.

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Trump's Glass-Steagall May Be Less Onerous Than Big Banks Fear

Treasury Secretary Steven Mnuchin told a congressional panel that a breakup of the big banks isn't what the Trump administration has in mind when it comes to a modern version of the Glass-Steagall Act.

Leon Cooperman Settles Insider Trading Case

Hedge-fund manager Leon Cooperman and his firm have agreed to pay $4.9 million as part of a civil settlement of insider trading charges brought by securities regulators.

CPPIB Reports 12% Return for Year

Canada's biggest pension fund reported a net asset return of 11.8% for its fiscal 2017, largely as a result of double-digit gains in equity investments.

Former OCC Examiner in Charge of Wells Fargo Sues Agency Seeking Records

The former Office of the Comptroller of the Currency examiner overseeing Wells Fargo & Co. is suing the regulator for allegedly violating a Freedom of Information Act request made seeking records over his administrative leave.

France, Germany Battle to Host EU Finance Regulator

France is shooting down the possibility of relocating Europe's top financial regulator to Frankfurt from London after Brexit, an early sign of infighting over the spoils of Britain's departure from the European Union.

ECB Wary of Repeat of Fed's 'Taper Tantrum'

European Central Bank Officials wants to avoid a repeat of the 2013 'taper tantrum,' when the prospect that the Fed would slow its asset purchases roiled the markets.

Fed's Mester Wants Rate Rises, but Won't Say When They Should Happen

Cleveland Fed President Loretta Mester offered an upbeat economic outlook and said more rate rises lie ahead for the central bank.

(END) Dow Jones Newswires

May 19, 2017 07:15 ET (11:15 GMT)