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Tue, 28th March 2017

Anirudh Sethi Report

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Archives of “Global Indices” Category

Global banks may have helped launder $80 billion in Russian money

A series of top-flight global banks assisted in helping Russian criminals launder enormous sums of money, the Guardian reports.

HSBC, the Royal Bank of Scotland, Lloyds, Barclays and Coutts are among 17 banks that played a role in a scheme from 2010-2014 that laundered at least $20 billion and up to $80 billion.

An estimated 500 people were involved in laundering the money and include oligarchs, Moscow bankers and people connected to the government.

This looks like the first report in what will be a series. Leaked documents include details of about 70,000 banking transactions, including 1,920 that went through UK banks and 373 via US banks. The transactions used the offshore system to hide and move money.

European Indices :Closed in Deep Green

Up. Up.Up

The provisional closes for the major European stocks are showing solid gains.
  • Eurostoxx 600 up 0.6%
  • UK FTSE up 0.6%
  • German Dax up 0.6%
  • France’s Cac up 0.5%
  • Spains IBEX up 1.8%
  • Portugal PS120 up 0.7%
  • Italy MIB up 1.7%
In the debt market in Europe, 10 year yields are higher.
  • Germany 0.448%, +3 bp
  • France 1.09%, +5 bp
  • Italy 2.359% +5.7 bp
  • UK 1.248%, +3.7 bp
  • Spain 1.893% +5.3 bp
US stocks are rebounding to unchanged levels for the major indices.
  • S&P is down -2 points or -0.08%
  • Nasdaq is now up by 2 points or 0.04%
  • Dow is down 4 points or -0.02%
In the US Debt market, the 10 year yield is up 3 bp to 2.523%