Us Banking System News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A transaction fee is currently levied on transactions in US dollars done from one exchange earners foreign currency account to another within the country, Intercontinental Consultants and Technocrats (ICT) Chairman K K Kapila said in a statement. By routing the transactions through the American banking system, the country is losing substantial money, which is going to the Americans as transaction costs, he said.

It's the second notable downgrade of leading U.S. banks in as many weeks.

"We don't yet see a significant slowdown in lending. There is some, but not on the scale that would lead to the Fed stepping back," IMF chief says.

The US economy is running hot and that means the Fed should consider further rate hikes this year, according to Larry Summers.

"The question always comes – why isn't the S&P 500 signalling a recession? Answer: it is," top economist David Rosenberg said in a tweet.