Comerica forecasts weak interest income as deposit costs rise, loan growth slows
(Reuters) – Comerica on Friday forecast an 11% drop in its net interest income (NII) in 2024, as it pays more interest on deposits to keep customers from moving to other options,…
New Jersey Contractor Blew Customer’s $115k Deposit Gambling in Atlantic City
OCEAN COUNTY, NJ — On October 23, Jeffrey Crawford, 50, of Lacey Township, entered a guilty plea for the crime of Theft by Failure to Make Required Disposition of Property before Judge…
‘Being A Crook Doesn’t Mean You’re A Moron’: Jonathan Turley Slams ‘Direct Deposit’ Depictions Of Biden Allegations
‘Being A Crook Doesn’t Mean You’re A Moron’: Jonathan Turley Slams ‘Direct Deposit’ Depictions Of Biden Allegations Harold Hutchison on August 10, 2023 George Washington University law professor Jonathan Turley said that…
Deposit withdrawals at South Korea credit union have stabilised -ministry
SEOUL (Reuters) – Customer withdrawals from MG Community Credit Cooperatives (MGCCC), a troubled South Korean credit union, have clearly stabilised amid government efforts to ward off a liquidity crunch, the interior ministry…
China state lenders lower dollar deposit rates for second time in a month – sources
By Winni Zhou and Ryan Woo SHANGHAI/BEIJING (Reuters) – China’s major state banks have lowered their dollar deposit rates for the second time in a month, seven banking sources with direct knowledge…
China’s PBOC asks foreign banks about dollar deposit rates amid weak yuan – sources
SHANGHAI/BEIJING (Reuters) – China’s central bank has surveyed some foreign banks in the past week about the interest rates they offer to their clients for dollar deposits, people familiar with the matter…
Several Chinese lenders cut yuan deposit rates from Monday
BEIJING (Reuters) – Several Chinese commercial banks cut interest rates on a range of yuan deposits from Monday, following their larger peers in a coordinated move to ease pressure on profit margins.…
Boxed Out: Why safe deposit boxes are harder to find
By Chris Taylor NEW YORK (Reuters) – As any fan of spy thrillers knows, there is only one place to put your really valuable stuff: A safe deposit box. But even if…
FDIC plans to hit big banks with fees to refill deposit insurance fund – Bloomberg News
(Reuters) -The U.S. Federal Deposit Insurance Corporation is planning to exempt smaller lenders from kicking in extra money to replenish the government’s bedrock deposit insurance fund, and instead saddle the biggest banks…
Treasury: US banks have ‘substantial’ liquidity, deposit flows are stable
WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday said it was continuing to monitor market developments amid sharp drops in the shares of regional lenders PacWest Bancorp <PACW.O and Western Alliance…
Western Alliance says no unusual deposit outflows after First Republic sale
(Reuters) – Western Alliance Bancorp said on Wednesday it had not experienced unusual deposit outflows following the sale of collapsed lender First Republic Bank to JPMorgan Chase & Co, as the U.S.…
FDIC report to reopen U.S. bank deposit insurance debate
By Hannah Lang (Reuters) – A key U.S. banking regulator is set to publish a comprehensive overview of the federal deposit insurance system on Monday, teeing up fresh debate about whether the…
Exclusive-China guides banks to further cut deposit rates – sources
(Reuters) – China nudged banks this month to cut deposit interest rates further, seven people with knowledge of the matter said, in the latest effort to channel the country’s vast savings pool…
U.S. banking regulator warns ‘open banking’ could impact deposit outflows
By Hannah Lang (Reuters) – The evolution of “open banking” in the U.S. could impact how regulators supervise banks, as seamless account portability between financial institutions could lead to increased deposit outflows,…
Apple offers high-yield savings to card customers as deposit competition heats up
NEW YORK (Reuters) – Apple Inc is seeking to attract U.S. savers with a new high-yield deposit account it announced on Monday with partner Goldman Sachs Group Inc amid increased competition among…
Defense Department impersonator tried to access safety deposit box at Ephrata bank
EPHRATA, PA – Ephrata Police recently charged Sean P. Quick, 55, of Ephrata, Pennsylvania, with Impersonating a Public Servant after an incident at Ephrata National Bank on March 20, 2023. Bank security…
Smaller Chinese banks cut deposit rates on squeezed margins
BEIJING (Reuters) – Several small and mid-sized banks in China have lowered their deposit interest rates, a move that could help ease costs as loan growth faces more pressure amid rising economic…
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…
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…
Raising FDIC’s deposit protection limit should be considered -U.S. Senate majority leader
WASHINGTON (Reuters) – A proposal to raise the Federal Deposit Insurance Corporation’s $250,000 limit for protecting depositors’ accounts should be considered, but any costs should be paid by the banks, not taxpayers,…
Explainer-How does bank deposit insurance work, and who does it cover?
By Hannah Lang and Pete Schroeder (Reuters) – In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank…
Zions Bank chief urges no Washington ‘knee jerk’ reaction to deposit insurance
By Douglas Gillison and Pete Schroeder (Reuters) – U.S. policymakers should avoid a “knee jerk” reaction in considering changes to bank deposit insurance guarantees in the wake of Silicon Valley Bank’s failure,…
Hardline US Republicans oppose bank deposit guarantees beyond $250,000 limit
By David Lawder WASHINGTON (Reuters) – Hardline Republicans in the House of Representatives on Monday vowed to oppose any universal federal guarantee on bank deposits above the current $250,000 limit, throwing a…
U.S. regional banks under pressure to raise deposit rates – analysts
By Tatiana Bautzer NEW YORK (Reuters) – U.S. regional banks are expected to pay higher rates to depositors to keep them from switching to larger lenders, banking analysts said, following the collapse…
S&P says not seen rampant deposit outflows to merit rating action
(Reuters) – S&P has not placed other U.S. banks on CreditWatch negative since First Republic Bank as it has not seen widespread deposit outflows, the ratings agency said on Tuesday, hours after…
ECB deposit rate to peak at 3.75% or higher as inflation stays sticky – Reuters poll
By Jonathan Cable LONDON (Reuters) – The peak for European Central Bank interest rates will be much higher than thought only a month ago, according to economists polled by Reuters, and they…
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