Hints and tips:
...Some of the world’s biggest banks — Morgan Stanley, Wells Fargo and Bank of America — are all reportedly lining up to get involved in bitcoin, too....
...result in banks lending less and at higher interest rates....
...In March 2023, the peg dropped by 13%, in the secondary market, after Circle confirmed that about 8% of the total assets backing USDC at that time were held at Silicon Valley Bank (SVB)....
...It’s meant that for years Citi’s been lagging behind its peers like Wells Fargo and JPMorgan Chase in things like their stock price performance. Here’s the FT’s US banking editor, Joshua Franklin....
...The biggest contributors — Bank of America, Citigroup, JPMorgan and Wells Fargo — each put in $5bn, with the rest depositing between $1bn and $2.5bn each....
...But this is true only in a limited sense. Under post-crisis banking rules, currency and rates trading can be done at the bank holding company level, and therefore take advantage of deposits....
...From the SEC’s complaint: From the start of FTX’s operations in or around May 2019 until at least 2021, FTX customers deposited fiat currency (eg, US Dollars) into bank accounts controlled by [FTX’s affiliated...
...FTX’s employees paid hundreds of millions of dollars for property in the Bahamas where the firm was located, $135mn for naming rights to a Miami basketball stadium and even racked up a $55,319 tab at the...
...And then any deficit had to be disclosed as a financial liability in their accounts, just as they would a bank loan or a bond issue....
...When he came to the phone, Leontiev had no idea what was happening at his company’s headquarters, located not far from the central bank and the Kremlin....
...In a further sign of banks’ efforts to incorporate blockchain technology into their operations, HSBC and Wells Fargo said last week they had agreed to settle currency trades directly on blockchain....
...In 2013 the US investment bank Morgan Stanley dubbed Indonesia as one of the “fragile five”, a group of emerging economies that it believed were especially vulnerable to a jump in interest rates in the US...
...To cite another example: this week HSBC and Wells Fargo revealed plans to use blockchain to settle foreign exchange transactions between financial institutions....
...that its virtual currency was fully backed by US dollars at all times was a lie”, unquote....
...“There is no banking system in Russia without Sberbank,” said Ilan Stermer, director of banks research at Renaissance Capital....
...The US president announced last month he intends to appoint Saule Omarova as comptroller of the currency, which supervises national banks including Bank of America and Wells Fargo....
...European banks have struggled to compete with US rivals like JPMorgan Chase, Bank of America and Wells Fargo. 3....
...Here their interest in money gets in the way: such is the desire for profit that dry warnings about losses have no impact at all....
...People can’t get their money out of the banks, and the currency is going through the floor....
...(FT) Earnings Bank of America and Goldman Sachs follow JPMorgan Chase, Citigroup and Wells Fargo last week and report fourth-quarter earnings on Tuesday. Netflix publishes results after markets close....
...There’s a difference between no longer being in the hallowed “G5” group of currencies — which it is not at all clear the pound has fallen out of permanently either — and being an emerging market currency...
...Well, there’s no need for us to imagine anymore....
...Well, not if you’re Jamie Dimon. The certified “King of Banking” can break out the bubbly and rejoice in the fact that his bank at least is brimming with cash....
...prices hit record highs in local currencies....
...The flipside to looking at money supply growth is to look at its counterparties on the asset side of the banks’ balance sheets....
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