Analysis-Swiss banking plan leaves ‘relieved’ UBS out of immediate firing line
By John Revill ZURICH (Reuters) – UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the “monster bank” in line…
Big companies toughen banking partner screening after crisis – survey
By Laura Matthews NEW YORK (Reuters) – Large companies are spreading out their counterparty risk and increasing screening of their banking partners in response to the recent banking crisis that has been…
Banking Giant To Pay Customers Over $100 Million Due To Junk Fees And Credit Card Deception
The Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay customers over $100 million for unlawfully charging junk fees to customers among other misconduct, according to a CFPB press release…
Wells Fargo promotes head of Native American banking to managing director
NEW YORK (Reuters) – Wells Fargo promoted Dawson Her Many Horses, head of Native American Banking, to managing director, one of the first enrolled tribal members to reach that rank at a…
Barclays hires Birchenough as chairman of healthcare investment banking
By David Carnevali NEW YORK (Reuters) – Barclays Plc has hired Jim Birchenough from Wells Fargo & Co as its chairman of global healthcare investment banking, a spokesperson for the British bank…
Senate banking panel to vote on Fed nominees Wednesday
(Reuters) – The U.S. Senate Banking Committee will vote on Wednesday on whether to advance President Joe Biden’s pick for the Federal Reserve’s next vice chair, current Fed Governor Philip Jefferson, for…
SVB Financial nears approval to sell its investment banking business
By Dietrich Knauth NEW YORK (Reuters) – A U.S. bankruptcy judge said Thursday that he would allow SVB Financial Group to sell its investment banking division, once the company has ensured that…
Credit Suisse appoints investment banking management committee -memo
By Tatiana Bautzer NEW YORK (Reuters) – Credit Suisse Group AG on Thursday appointed an investment banking management committee to oversee its integration with UBS Group AG, according to a memo seen…
UBS to start Credit Suisse Asia investment banking job cuts in July -sources
By Kane Wu and Selena Li HONG KONG (Reuters) – UBS will start cutting Asia investment banking jobs at Credit Suisse next month, three people with knowledge of the matter said, as…
JPMorgan cuts around 20 Asia investment banking jobs-source
By Selena Li HONG KONG (Reuters) – JPMorgan Chase & Co has in a new round of downsizing cut around 20 investment banking jobs in Asia, a source with direct knowledge of…
SVB agrees to sell its investment banking division
(Reuters) – SVB Financial Group said on Sunday it has entered into an agreement to sell its investment banking division, SVB Securities, to a group led by Jeff Leerink and backed by…
Most G20 nations see banking system sound as bloc talks financial stability – official
NEW DELHI (Reuters) – Most G20 member nations are of the view that banking systems and regulations in their countries are steady, India’s chief economic advisor said on Wednesday. “Most country members…
Recession risks still loom for markets calmer after banking turmoil
(Reuters) – The euro zone has slipped into recession and Chinese data has disappointed, warning signs for world markets relieved that the March banking turmoil has not led to a full on…
Bank of America CEO sees investment banking and trading staying flat in Q2
NEW YORK (Reuters) – Bank of America Corp expects investment banking fees and trading revenues to be broadly flat this quarter, its CEO, Brian Moynihan, told investors at a conference on Thursday.…
RBC says resolving display issue with online, mobile banking
OTTAWA (Reuters) – The Royal Bank of Canada is working to resolve a technical issue that is preventing transactions displaying for online and mobile banking clients, the bank said on Twitter. “We…
Morgan Stanley expects trading, investment banking results to weaken
NEW YORK (Reuters) – Morgan Stanley expects to its revenue from trading and investment banking to slump in the second quarter given a more challenging economic environment, co-president Andy Saperstein told investors…
Fed’s Logan: Discount window operations need to keep pace with speed of banking
RICHMOND, Virginia (Reuters) – U.S. banks should be prepared to borrow regularly from the Federal Reserve’s discount window, while the Fed should make sure loans can be accessed at any time given…
Fed’s Kashkari cautions against all-clear on banking woes
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Minneapolis President Neel Kashkari cautioned that while it may appear like the worst of the banking sector’s stresses are over,…
SocGen beats estimates as bond trading offsets retail banking slump
By Mathieu Rosemain and Matthieu Protard PARIS (Reuters) -French bank Societe Generale posted better than expected quarterly earnings on Friday after turmoil in bond and currency markets boosted its trading business. The…
Marijuana banking bill heads to Senate Banking Committee
(Reuters) – Shares of pot companies were trading higher on Thursday as the U.S. Senate Banking Committee prepares to discuss the SAFE Banking Act, a crucial legislation that would make it easier…
IMF still concerned by banking sector wobbles – chief economist
PARIS (Reuters) – The International Monetary Fund remains concerned about recent turbulence in the banking sector despite actions by the U.S. and Swiss authorities to deal with troubled banks on their watch,…
California banking regulator says SVB oversight inadequate
(Reuters) – California’s financial regulator failed to press leadership at Silicon Valley Bank to address known problems quickly enough before the lender imploded in March, according to a report released Monday in…
Fed says banking sector looks set to weather recent turmoil
WASHINGTON (Reuters) – The U.S. banking sector overall appears well-positioned to weather recent industry turmoil, but the experience could still weigh on credit conditions in the future, the Federal Reserve said on…
Marketmind: Another day, another U.S. banking swoon
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. A sea of red on Wall Street and renewed turmoil across the U.S. regional banking…
U.S. banking woes a major factor behind Bank of Korea rate freeze
SEOUL (Reuters) – Most of the South Korean central bank’s board members cited concerns about the U.S. banking sector’s health as a major factor to keep interest rates steady at their April…
UBS hires Barclays executives to beef up investment banking in U.S
(Reuters) – UBS Group said on Monday it had hired three executives from Barclays Plc in a big push to ramp up its U.S. investment banking presence. Switzerland-based UBS, which has been…
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