News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

All Regional Fed Banks on Board With Wednesday's Discount-Rate Increase

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All 12 of the Federal Reserve's regional reserve banks have requested to raise the discount rate to 2%.

China's Central Bank Expands Commercial Bank Lending

China's central bank is expanding its supply of funds to domestic lenders facing shortages of liquidity for their clearing businesses.

Regulators See Cybersecurity as Top Financial Industry Risk

Cybersecurity remains the top risk to financial sector stability, U.S. policy makers said Thursday in the first Financial Stability Oversight Council risk report under the Trump administration.

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Bank of Canada Head Likens Bitcoin Mania to 'Gambling'

Bank of Canada Gov. Stephen Poloz said Thursday that bitcoin's ascent has all "the ingredients of something that could be a significant disturbance" to the financial system.

Behind Discount Brokers' Boom: Advisers, Not Day Traders

Charles Schwab and TD Ameritrade rake in client assets, catering to wealth managers and reinvigorating their businesses.

Mexico's Central Bank Raises Rates as Inflation Concerns Mount

The Bank of Mexico raised interest rates by a quarter percentage point after a six-month pause, as policy makers have grown increasingly worried about high inflation.

Bank of Canada's Poloz Ready to Keep Policy 'Quite Stimulative'

Bank of Canada Governor Stephen Poloz said he is willing to keep rate policy "quite stimulative" and let upside inflation risks build until there is evidence spare labor capacity has evaporated and economic uncertainties have faded.

Wells Fargo Trims Staff in Its Giant Mortgage Unit

Wells Fargo laid off about 60 employees in its mortgage division as the bank continues to reshuffle parts of its business following heightened regulatory scrutiny.

Bringing Back the Money-Fund Buck?

A fight is brewing over whether to reverse rules meant to prevent another crisis-triggered exodus from a corner of the mutual-fund industry, the latest front in a broad push to undo postcrisis regulations.

UBS Names New Wealth-Management Chief

UBS appointed a new chief for its $1.1 trillion international wealth-management unit, a division that has been a key driver of the bank's earnings but faces competition from rivals including Credit Suisse.

(END) Dow Jones Newswires

December 15, 2017 00:15 ET (05:15 GMT)