As the Federal Reserve Bank of New York completed its latest purchases of mortgage backed securities to prop up mortgage interest rates, its president went public with hints that the Fed would consider reopening its soon-to-end program if interest rates spiked or the economy showed new weakness.

Investors are skeptical of assurances European finance ministers gave to their Group of Seven counterparts this weekend that the euro zone’s debt crisis is under control.

CIT Group said Sunday it has chosen former Merrill Lynch CEO John Thain to lead the company as chairman and CEO as the commercial lender continues to restructure its business following a brief stay in bankruptcy protection last year.

The state says an employee accidentally attached a spreadsheet with banking information for about 6,000 workers to an e-mail sent to state payroll administrators.

Bank of America today issued its fourth quarter Lending & Investing Initiative Report, noting the extension of more than $758 billion in credit during 2009, including nearly $180 billion during the fourth quarter alone.

In such volatile times for the financial sector, strong branding is more important than ever. The Banker’s Top 500 Banking Brands listing ranks the leading brands. Brian Caplen reports.

Up to speed: Tokyo Stock Exchange’s new ‘arrowhead’ system is on a par with the dealing systems in New York and London
Tokyo’s new arrowhead trading system is among a raft of high-performance upgrades to be launched across Asia-Pacific trading venues, bringing them up to speed with their US and European competitors. Writer Elton Cane

Small change: Hypo Group Alpe Adria was nationalised late last year for the sum of �3
The nationalisation of Austria’s Hypo Alpe Adria had more to do with regulation and ownership models than exposure to emerging Europe. Writer Philip Alexander

Not so wonderful Copenhagen? December’s climate meeting in the Danish capital is widely considered to have achieved little, with the US and China reluctant to commit to the UN process on carbon emissions
Much was expected but little emerged from the climate talks in Copenhagen late last year. Moreover, with debate in the US focused on financial regulatory reform, discussion about the cap and trade system got pushed back. In Europe, market participants are worried about the move from government-allocated carbon credits to market auctions. The carbon world is not where it wanted to be. Writer Jim Kharouf

Masami Tada, chairman and CEO of Daiwa Capital Markets Europe
The chairman and CEO of Daiwa Capital Markets Europe talks about the business’s shift from Japanese securities house to pan-Asian investment banking presence with a European footprint. Writer Geraldine Lambe

Cloud computing and software-as-a-service are gaining popularity in the banking industry, but some reservations remain, particularly concerning security. How well-founded are these concerns and how can they be assuaged? Writer Nicholas Pratt

Back with a bang: Lloyds achieved Europe’s largest fully underwritten capital-raising exercise to date
The �22.5bn recapitalisation of Lloyds Banking Group last November not only kept the institution free from outright government control, but helped to rehabilitate the financial markets. Writer Edward Russell-Walling

Build up: reinforcement of the Thai financial sector is planned to pave the way for increased international trading
Unfazed by continued political and economic turmoil, Thailand is embarking on major deregulation to strengthen its banking and finance sector and, in the grander scheme, to diversify the country’s economic base. Writer Michelle Price

Arab Bank: boasts the largest branch network in Jordan
The impact of the global downturn and tighter regulations imposed by Jordan’s central bank looks set to change the future shape of the country’s banking sector. Writer Stephen Timewell

Jim Bolger, chairman of New Zealand Post Group’s Kiwibank
The former prime minister of New Zealand and now chairman of New Zealand Post Group’s fast-growing Kiwibank believes that the company offers a template for post groups around the world attempting to establish a banking brand. Writer Michelle Price

Majid Al-Refai, CEO of sharia-compliant Bahrain-based Unicorn Investment Bank
After a turbulent year bookended by the near default on a large Dubai sukuk, the Middle East’s Islamic banking community is taking stock. Writer James Gavin

The Banker surveyed some of the leading lights in the world of global transaction services to get a sense of how 2010 is likely to pan out. The results suggest a difficult year for transaction bankers, with as many challenges as opportunities. Writer Charlie Corbett

New York state’s Attorney General, Andrew Cuomo, is accusing Bank of America, former CEO Ken Lewis and former CFO Joe Price of securities fraud.

By JEANNINE AVERSA A top Federal Reserve official said Thursday he’s worried about the weakness of the economic recovery but doesn’t think it will slip into another recession.William Dudley, president of the Federal Reserve Bank of New York, said in an interview with The Associated Press: ‘I think we do have a sustainable economic recovery.’But he …

Originally published February 3, 2010 at 10:51 a.m., updated February 3, 2010 at 10:57 a.m. BATON ROUGE, La.

Continuing concerns about debt-plagued governments in Europe helped send stocks down Thursday ahead of interest rate meetings by the European Central Bank and the Bank of England.

A disappointing report on services industries halted a two-day advance in the stock market.

In such volatile times for the financial sector, strong branding is more important than ever. The Banker’s Top 500 Banking Brands listing ranks the leading brands. Brian Caplen reports.

Up to speed: Tokyo Stock Exchange’s new ‘arrowhead’ system is on a par with the dealing systems in New York and London
Tokyo’s new arrowhead trading system is among a raft of high-performance upgrades to be launched across Asia-Pacific trading venues, bringing them up to speed with their US and European competitors. Writer Elton Cane

Small change: Hypo Group Alpe Adria was nationalised late last year for the sum of �3
The nationalisation of Austria’s Hypo Alpe Adria had more to do with regulation and ownership models than exposure to emerging Europe. Writer Philip Alexander

Not so wonderful Copenhagen? December’s climate meeting in the Danish capital is widely considered to have achieved little, with the US and China reluctant to commit to the UN process on carbon emissions
Much was expected but little emerged from the climate talks in Copenhagen late last year. Moreover, with debate in the US focused on financial regulatory reform, discussion about the cap and trade system got pushed back. In Europe, market participants are worried about the move from government-allocated carbon credits to market auctions. The carbon world is not where it wanted to be. Writer Jim Kharouf

Masami Tada, chairman and CEO of Daiwa Capital Markets Europe
The chairman and CEO of Daiwa Capital Markets Europe talks about the business’s shift from Japanese securities house to pan-Asian investment banking presence with a European footprint. Writer Geraldine Lambe

Banks which have received state aid are desperate to give it back because of the constraints under which it places them. Governments, too, want out of the banking system � but both camps face a host of potential pitfalls before this mutually desired exit strategy can be executed. writer Geraldine Lambe

The Banker looks at the top 10 emerging technologies that have the potential to transform the planet - from wireless electricity to anaerobic digesting. Writer Michelle Price

Timetable: although RBS is selling its insurance businesses it must still meet the Solvency II directive
Banks that own insurers are preparing for the Solvency II insurance directive, which in its current form could require huge amounts of extra capital to be set aside. Meanwhile, investment banks are busy advising their insurance clients on how their risk management and capital structures will have to change as a result. Writer Michael Imeson

The US and European governments have so far managed to maintain investor appetite for greatly increased issuance of public debt. But decisive action will be needed to avoid paying a high price in the near future. Writer Philip Alexander

Andrew Burton, director in the liability management team at Credit Suisse
The successful debt restructuring by Ukraine’s gas importer has eased short-term difficulties and offered hope for better government and corporate financial management in the future. However, the country’s track record of disappointment in such matters still hangs heavy. Writer Philip Alexander

Which way now? Puerto Rico’s banking district

Puerto Rico’s dependence on the US meant that the subprime crisis hit its banking sector particularly hard. A period of consolidation is now expected, but who the winners will be - the big domestic players or foreign-owned entities - remains to be seen. Writer Jane Monahan in Puerto Rico

Getting the message: the formation of NAMA has led to protests in Ireland

The Irish government has opted for a ‘bad bank’ to save the nation’s finances by buying up bad loans. With some experts unconvinced this was the best solution, only time will tell if the gamble pays off. Writer Philippa Maister

Having sidestepped the worst of the global financial crisis, the dominance of Australia’s big four banks in the domestic market means that further major expansion is likely to happen elsewhere, particularly in Asia. Writer Elton Cane

Great potential: the use of credit cards in Iraq is on the rise
A muscular banking sector will make or break whether Iraq is to rebuild and prosper. And while there are increasing levels of capital inflow into the region, local banking infrastructure remains limited, leaving the sector wide open for foreign investment. Writer Courtney Fingar in Baghdad

As customer dissatisfaction with the UK’s existing high street banks intensifies, new entrants are sprouting - many of which are extensions of established retail brands, striving to create the winning formula using their innate consumer insight. Will these new operations pose a sustained threat to the existing ones? Writer Michelle Price

Ray Soudah, founder of Switzerland-based Millenium Associates

Deutsche Bank’s planned takeover of Sal Oppenheim will leave the German private banking sector dominated by two key players. However, Deutsche and Commerzbank are pursuing very different strategies. Writer Michael Marray

Brazil’s past battles with hyperinflation have left the legacy of a payment system whose efficiency assists its economy’s stability to such an extent that it has garnered a host of global admirers. Writer John Rumsey

Fifth Third Bank Fifth Third customers filed a class action lawsuit against the bank, after years of complaints that it improperly charges bank fees.

Citigroup Inc. is ready to start growing again in Japan. The company said Tuesday it will open four retail branches this year, marking the banking giant’s first expansion here since selling several of its Japanese finance businesses in the wake of the global financial crisis.

Feb. 2 — Rob Henderson, chief economist at National Australia Bank Ltd., talks with Bloomberg’s Maryam Nemazee about the Reserve Bank of Australia’s decision to keep interest rates on hold at 3.75 percent.

In this Dec. 9, 2009 file photo, a sign for Bank of New York Mellon is shown in New York.

Australia’s central bank today left interest rates on hold at 3.75%, surprising analysts by ending a sequence of three consecutive rises, but hinted at further hikes to come.

A Delaware bankruptcy judge has denied Washington Mutual’s request to force government regulators and others to turn over documents related to the bank’s 2008 collapse.

The parent of Five Star Bank swung back to a profit for the fourth quarter and full year of 2009, as total revenues, deposits and loans all rose while credit issues remained low.

The Business Journal of the Greater Triad Area - by Adam Oa Daniel Charlotte Business Journal Brian Moynihan took over this month as Bank of America's chief executive.

Bank of New York Mellon Corp is in talks to buy PNC Financial Services Group Inc.a s global investment-servicing unit for as much as $2.5 billion to add hedge-fund and mutual-fund clients, said a person familiar with the matter.

House prices started the year on a strong footing, rising by 1.2% during January, new figures show.

Whitney Holding Corp. reported a net loss of $78.4 million, or $1.08 a share, for the year ended Dec.

Regions Financial Corp ., the metro area’s largest private sector employer, cut 500 jobs from its nationwide payroll late last year, and plans more employee reductions.

Upbeat bankers clashed with pessimistic economists on the opening day of the World Economic Forum, where the movers and shakers of global politics and business argued over whether to move forward with financial reforms - or to abandon what some claim would be a ruinous path toward over-regulation. Just hours ahead of President Barack Obama’s first …

Cascade Financial Corp. announced Tuesday afternoon that the fourth quarter of 2009 was profitable, pulling in $1.1 million in earnings.

Heartland Financial USA Inc. on Monday posted a wider fourth-quarter loss as it recorded impairment charges related to two subsidiaries.

Jan. 22 — Lan Xue, head of China research at Citigroup Inc., talks with Bloomberg’s Susan Li about the outlook for Chinese stocks.

A teen boy was shot and killed during an attempted burglary in Greeneville Thursday night, according to the Greene County Sheriff’s Department.

BB&T Corp. and SunTrust Banks Inc., regional lenders focused on the Southeast, boosted the number of loans they modified for borrowers who cannot pay as the firms battled to cut defaults in Florida and Georgia.

Greece and other euro-zone countries with excessive budget deficits must do everything they can to put their finances in order, the president of the European Central Bank said in an interview published Saturday.

The ruling released Friday sets limits on Swiss government cooperation with Washington in a U.S. investigation against banking giant UBS AG and could have implications for the way Switzerland handles some 4,424 other Americans suspected of tax evasion.

By IEVA M. AUGSTUMS PNC Financial Services on Thursday said fourth-quarter net income rose sharply, in part due to the sale of institutional asset company Barclays Global Investors.The Pittsburgh-based bank said it earned $1.01 billion, or $2.17 per share, after losing $269 million a year earlier.The company said it would have earned 90 cents per …

Fifth Third Bancorp reported that losses shrank in the fourth quarter with the credit picture improving, and the bank’s shares jumped Thursday in premarket trading.

The top Republican on a House committee investigating financial bailout decisions says the Federal Reserve Bank of New York is withholding documents it’s required to supply under a committee subpoena.

Jan. 20 — Jon Burnham, chairman of the Burnham Financial Group, talks with Bloomberg’s Lori Rothman about his investment strategy.

Marshall & Ilsley on Wednesday reported a fourth-quarter loss of $259.5 million or 54 cents a share, wider than Wall Street expectations, but shares were higher as net interest margins improved and the company said credit costs were showing signs of stabilization.

The economic recovery needs to be firmly rooted before the central bank reverses course and begins to raise interest rates, a Fed official said Friday.

Jan. 15 — Bloomberg’s Erik Schatzker reports on JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and his strategy during the financial crisis.

JPMorgan Chase & Co. ’s profit rose more than four-fold to $3.28 billion in the last three months of 2009, but the results released Friday were tempered by rising loan losses at its consumer bank.

The fat cats were supposed to get their comeuppance. After Wall Street’s most prominent firms - by their own admission - helped cause the 2008 financial meltdown and got bailed out by the government, they were supposed to stop handing out million-dollar bonuses to their employees.

US giant JP Morgan Chase is set to unveil a multibillion dollar bonus pot when it kicks off the results season for Wall Street banks.