Tag Archives: Bank Of China

In a historic move, the Federal Reserve has cleared and allowed China’s Biggest Bank ICBC to takeover a US bank by a Chinese state-controlled company. Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East ... Read More »

China, the owner of a large portion of U.S. debt,  has begun to put the screws on local banks with new rules on credit and some of the biggest state-owned banks will be affected in the country. “The jump in the dollar is accompanied by a dip in the yen this morning, which could yet allow the Bank of Japan ... Read More »