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...“There has been a shift in thinking in Washington about bank mergers....
...BlackRock has 10 per cent or more of the shares in 38 bank holding companies that are supervised by the US Federal Reserve or the Office of the Comptroller of the Currency but which own FDIC-supervised banks...
...Before a bank can enter the bidding process, it must be approved by its primary federal regulator. For the largest banks, that regulator is the Office of the Comptroller of the Currency or OCC....
...McKernan sought to set up an FDIC-run compliance programme for large index fund managers that say they are seeking to be “passive” investors in FDIC-supervised banks....
...The post-crisis Dodd-Frank financial reform law created new legal authority for this kind of decapitation, separate from the procedures the FDIC uses for smaller banks, including the three big failures last...
...The FDIC seized the loans from the former Signature Bank, one of a trio of lenders that failed or closed in early March, kicking off a period of turmoil for the banking sector....
...As a result, more banks would need to fail for Porticoes to be able to use money it has raised — and the list of potential targets is slim....
...The independent review follows the publication on Monday of a story in the Wall Street Journal that detailed more than a decade of what it described as abusive incidents and a “toxic atmosphere” for women...
...The independent review follows the publication on Monday of a report in The Wall Street Journal that detailed more than a decade of what it described as abusive incidents and a “toxic atmosphere” for women...
...The big banks are lending as much as they can, with the four largest US banks having $4tn of loans and leases outstanding, according to FDIC data....
...through two quick-fire deals for rival banks....
...There was most consensus on the need to publish rate paths, which Bernanke backed away from including as a formal recommendation Over in Washington, Bank of England types have been remarkably dovish....
...Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, was grilled by lawmakers on Tuesday after a report in The Wall Street Journal detailed more than a decade of what it described as abusive...
...Under antitrust head Jonathan Kanter, the DoJ is broadening the parameters used for bank merger assessments to include factors such as interest rates, fees and branch locations....
...The Federal Deposit Insurance Corporation, which released the numbers on Thursday as part of its quarterly review, does not name the individual banks that are on its so-called problem bank list....
...That matters, as it takes a majority vote to finalise a rule,” Seiberg, who is managing director in TD Cowen’s Washington research group, wrote in a note to clients on Thursday....
...Additional reporting by James Politi in Washington...
...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...The FDIC, a banking regulator that insures depositors, is also responsible for resolving failed banks....
...The FDIC was the primary federal regulator for both First Republic and Signature before they collapsed....
...And the US Federal Reserve’s discount window provides a liquidity lifeline by allowing banks to borrow cash, using their long-term assets as collateral....
...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...Banks hold higher allowances — for example, 10 per cent — for unsecured lending such as credit card loans, compared with 2 or 3 per cent for commercial real estate loans, which have lower default rates....
...Federal Reserve chair Jay Powell has acknowledged it will likely take “longer than expected” for inflation to return to the US central bank’s 2 per cent goal and cut interest rates....
...US central bank officials still expect to be able to cut interest rates three times this year, despite the “persistence of high inflation” at the start of this year, according to minutes of the Federal Reserve...
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