News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bank Stocks Can Fight the Fed, for Now

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At some point, higher interest rates may become a negative for banks, but not for a while. Despite the flattening of the yield curve, banks' net interest margins have been rising, and their stocks have fared well.

Dollar-Funding Costs in Europe Highest Since Euro Crisis

The cost of derivatives that allow European investors to access U.S. dollars has rocketed this week, with some reaching their steepest levels since the worst days of the eurozone sovereign-debt crisis.

Tax Overhaul Would End Breaks for Executive Pay

A decades-old corporate tax break for performance-based pay of top executives faces elimination under the current tax bill, as Republican lawmakers say it has failed to encourage responsible management.

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Young CEO Reshapes 140-Year-Old Metals Exchange

Matthew Chamberlain's appointment placed the 35-year-old former banker atop an institution that plays a powerful role in setting metals prices-yet is lagging behind more modern rivals in electronic trading at a time of stagnant trading volumes.

You Can Thank Mr. Watanabe for Bitcoin's Explosive Rally

Japanese traders who historically engaged in trading real currencies have turned their sights to cryptocurrencies such as bitcoin, driving prices higher, Deutsche Bank says.

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

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.

China's HNA Starts Bond Buyback to Ease Investor Worries

HNA said it bought back some of its bonds following recent price declines, another attempt to calm investors' concerns about its liquidity and financing pressures.

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.

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.

(END) Dow Jones Newswires

December 15, 2017 07:15 ET (12:15 GMT)