USA Banks News

Bank of England policymaker Martin Weale has signalled the Bank is ready to pump more new money into the ailing economy through quantitative easing (QE) in February. Mr Weale stressed that if in reality growth was stronger than the Bank had assumed, and inflation remained high, he would be just as ready to vote for a tightening of monetary policy. 

Martin Weale, a member of the Bank’s Monetary Policy Committee (MPC), said there is “likely to be a strong case for extending the asset purchase programme” after the current one comes to an end in three months’ time, unless the economic outlook improves.

Mr Weale stressed that if in reality growth was stronger than the Bank had assumed, and inflation remained high, he would be just as ready to vote for a tightening of monetary policy.

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The euro kept its upward movement on Tuesday despite the announcement of European Central Bank that it was not capable of compensation of its bond purchases. As per statement of ECB, it took 194.2 billion euros equivalent to $252.2 billion from financial system from its weekly auction, which also already 203.3 billion euros less than expected target.

The 17-nation’s shared currency gained to 1.3329 against the US dollar on Tuesday as compared to 1.3307 on Monday’s late trading hours.

Research director, Kathleen Brooks from Forex.com commented, “The ECB has left euros sloshing about the European financial system, this is QE – extremely light – more like QE- zero than diet, but it is a form of QE nonetheless and as such the euro is getting hit.”

On Tuesday, US released its much economic data. The Conference Board’s consumer confidence index jumped to 56 in November. Moreover, S&P/Case-Shiller 20-city composite index fell 0.6 percent, resulting in decline of 3.6 percent in home prices. Despite the p

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If First Niagara Bank is trying to run with the really big banks, it’s succeeding — at least where CD rates are concerned.

It only has a single above-average offering, a 30-month eCD paying 0.75% APY with a $5,000 minimum deposit.

The average annual rate large banks and thrifts are offering for 36-month CDs is 0.69%.

But the 36-month leader on our CD Rates Leaderboard, Doral Bank Direct, is paying 1.65% APY with a $1,000 minimum deposit.

First Niagara Bank has 333 branches across upstate New York, Pennsylvania, Connecticut and Massachusetts, but its eCD is available online to anyone in the United States.

(So is Doral Bank Direct’s. Just sayin’.)

The eCD is the only certificate of deposit you’ll find listed on First Niagara Bank’s website (www.fnfg.com). You have to

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MB Financial Bank is offering up to $200 in personal checking account bonuses for residents of IL, IN, and PA through January 31, 2012.

Just open a new MB Classic, MB Signature, or MB Red Checking account and complete the following within the first 90 days that the account is opened:

1. Earn a $100 account credit when you set up a monthly recurring direct deposit of at least $500.

2. Earn a $50 account credit when you arrange for a recurring automatic transfer of $50 or more per month from MB checking to an MB personal money market or personal savings account.

3. Earn a $25 account credit when you pay at least 1 bill of $25 or more to non-individuals via bill pay at ibankmb.com.

4.

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ASB expects house prices nationwide to grow by around 3 per cent over the coming year, the bank’s chief economist, Nick Tuffley, said.

Tuffley, in releasing the bank’s housing confidence survey, said house price growth in Auckland is likely to be stronger than that, reflecting a tighter market.

Housing confidence continued to drift lower in the three months to October, while Christchurch is showing signs of a housing market recovery, according to the survey.

The ASB Housing Confidence Index edged down one point over the quarter, with a net 24 per cent of respondents saying that now is a good time to buy a house, compared to 25 per cent in the previous quarter.

Sentiment remained slightly above the historical average of net 22 per cent.

Tuffley said that while nationwide house price expectations have decreased slightly over the past quarter, there was a continued improvement in price expectations in Christchurch.

A net 43 per cent of those surveyed in Christchurch expect house prices will rise, compared to just over a net third of respondents in Auckland and net 22 per cent across New Zealand.

This suggested underlying housing demand in the Canterbury region was recovering from the impacts of the earthquakes, Tuffley said.

The bank expected Government and insurance payouts to support a continued recovery in house sales in the region.

On the flip side, the perceptions of the current market in Christchurch were negative.

“A negative six per cent of respondents in Christchurch thought now was a good time to buy a house compared to a positive net 24 per cent across New Zealand as a whole, reflecting the issues still faced by the region,” Tuffley said.

Nationally, while there was an increase in the number of respondents who expect interest rates will increase over the next year, a monthly breakdown of the results indicate this largely reflects high interest rate expectations early in the survey period.

A net 57 per cent of respondents now expect interest rates to rise, up from a net 46 per cent in the July quarter, Tuffley said.

“However, there was a steady decline in interest rate expectations over the quarter, reflecting the deterioration in global market conditions over this period.”

Recent market data continued to point to a gradual pick-up in underlying housing demand.

Tuffley said the housing market still looked to be constrained by supply, with new house listings continuing to decline.

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