Buffalo man admits to defrauding banks of nearly $500,000
BUFFALO, N.Y. — A former Buffalo resident pleaded guilty on Tuesday to orchestrating a scheme that defrauded two banks out of nearly half a million dollars. Joshua Parra, 32, who now lives…
Banks brave junk debt jitters with $3.8 billion Citrix bond sale
By Matt Tracy and Abigail Summerville WASHINGTON (Reuters) – A Goldman Sachs Group Inc-led group of banks will hold an investor call on Monday to sell $3.8 billion in Citrix Systems bonds,…
Global central banks keep up inflation fight in March
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The pace of interest rate hikes by major developed and emerging market central banks continued at a healthy clip in March though the…
Analysis-Outlook for European banks left clouded as storm abates
By Joice Alves and Naomi Rovnick LONDON (Reuters) – European banking stocks were meant to shine in 2023. But after a two-week storm which had analysts and investors rushing to rework their…
Global IPOs marred by banks and recession enjoy few bright spots
By Pablo Mayo Cerqueiro, Echo Wang and Elisa Anzolin LONDON/NEW YORK (Reuters) – A banking crisis and worries of a recession have dampened the outlook for initial public offerings (IPOs) this year,…
Japan regional banks can weather foreign bond losses – regulatory official
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – Japanese regional lenders will be well able to weather even “large” losses on their foreign bond portfolios thanks to strong capital buffers, a…
Community banks should not feel deposit insurance pain, White House says
By Douglas Gillison and Pete Schroeder (Reuters) – The White House on Thursday moved to reassure the nation’s community banks that they would not have to foot a $23 billion bill for…
Big Banks Raking In Billions Following Federal Bailouts As Smaller Banks Suffer
Big Banks Raking In Billions Following Federal Bailouts As Smaller Banks Suffer Jason Cohen on March 30, 2023 Bank customers moved billions of dollars in deposits from smaller institutions to larger ones…
Shorting global banks fetches $14.3 billion in paper profit in March – S3 Partners
(Reuters) – Short sellers made $14.3 billion in paper profit from their bearish bets on global banking stocks in March, according to analytics firm S3 Partners, as the collapse of U.S. lender Silicon…
Australia’s CBA, Westpac expect rate-hike pause in April; other top banks vary
(Reuters) – Commonwealth Bank of Australia (CBA) expects the country’s central bank to pull brakes next week on one of the most aggressive tightening cycles in decades as data signalled signs of…
Marketmind: Out of the sinking, banks ‘n’ tech lead the way
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The recovery from this month’s banking shock is gathering momentum and looks like it will…
U.S. banks fallout will intensify margin headwinds for Aussie lenders, UBS says
(Reuters) – Australian banks are well-positioned to deal with the pressures emanating from the recent bank runs in the United States, but their margins could be squeezed by the fierce competition for…
US consumer finance chief calls for better risk management at banks, fintechs
By Nupur Anand and Tatiana Bautzer (Reuters) – The recent failures of mid-size U.S. lenders show the need for more robust risk management at banks and fintechs, along with improved regulation, the…
Europe’s banks in ‘better place’ than U.S. in terms of commercial property risk – JPMorgan
By Marc Jones LONDON (Reuters) – Europe’s banks face less threat from some of the problems now showing in the commercial real estate markets than their U.S. counterparts, analysts at JPMorgan have…
Japan banks’ holdings of Credit Suisse AT1 bonds small – Finance Minister
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese banks’ holdings of Additional Tier-1 (AT1) bonds issued by Credit Suisse are small so the direct hit from them being written down to…
Fed’s Jefferson: Trouble among small, regional banks could hit small businesses
LEXINGTON, Virginia (Reuters) – The shuffling of deposits from small to large banks could have a disproportionate impact on U.S. small businesses who depend heavily on community and regional financial institutions for…
Explainer-What is the FDIC’s deposit insurance fund used to backstop failed banks?
By Hannah Lang (Reuters) – The Federal Deposit Insurance Corp (FDIC) and its flagship deposit insurance fund have been active since the Great Depression to provide an orderly resolution for failed banks…
PBOC official: China banks concerned about credit ratings in debt overhauls
By Rachel Savage JOHANNESBURG (Reuters) – Multilateral development banks (MDBs) reluctant to offer debt relief need to shoulder an “equitable burden” in sovereign debt restructurings, a People’s Bank of China official said…
Hedge funds flee banks, lending-related stocks
By Carolina Mandl NEW YORK (Reuters) – Global hedge funds cut their exposure to U.S. banking stocks to a near 10-year record low and fled lending-sensitive shares amid the banking turmoil that…
Marketmind: Brittle banks find a berth
A look at the day ahead in U.S. and global markets from Mike Dolan The final week of a turbulent month and volatile quarter for world markets has kicked off with relative…
India asks state-run banks to monitor top loan accounts – sources
By Siddhi Nayak MUMBAI (Reuters) – India has asked state-run lenders to adopt stricter monitoring of top corporate loan accounts and submit a plan to deal with business risks in key areas…
Marketmind: Banks are leaking money
A look at the day ahead in European and global markets from Wayne Cole It’s been a quiet Monday so far with Asian share markets mixed but U.S. and European stock futures…
India finance minister asks state run banks to assess risks
NEW DELHI (Reuters) – India finance minister has asked state-run banks to assess various financial health parameters amid turbulence across the global banking sector. After a meeting with chiefs of state-run banks…
Biden Says US Banks Are ‘In Pretty Good Shape,’ Americans’ Savings Are ‘Secure’
Biden Says US Banks Are ‘In Pretty Good Shape,’ Americans’ Savings Are ‘Secure’ Harold Hutchison on March 24, 2023 President Joe Biden claimed Friday that American banks were “in pretty good shape”…
Analysis-Small U.S. banks imperiled by big office loans
By Saeed Azhar and Matt Tracy NEW YORK (Reuters) – Small U.S. lenders that have outsized exposure to office loans could become the next group to face strains after bank failures roiled…
Fed regional banks to adopt uniform policy for public information requests
(Reuters) – The Federal Reserve’s 12 regional banks have agreed to adopt a common policy for handling public requests for information and will have it in place by the end of this…
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