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...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...deposit accounts which would hit banks’ profit margins....
...On the latter, this cohort holds about $1.5tn in assets and $1.1tn in net loans (~3%); by major sector they account for 1-2% of C&I and mortgage debt, less than 1% of consumer, and 10-25% of CRE loans (dependent...
...Since the only asset of the Sorrento affiliate was a bank account created days before filing, that was enough. Why did Sorrento want to file in Houston?...
...Let’s consider Bank of America which has $603bn* of securities with $132bn of unrealised losses. If you divide a bank’s interest income by assets, and interest expense by liabilities, you get a yield....
...JPMorgan Chase and Bank of America were at 2.1 per cent and 2.3 per cent. At Capital One and Discover this was nearly 4 per cent. Cutting late fees also won’t affect companies equally....
...But higher US rates exacerbate problems — debt costs have risen from 3 per cent in 2021 to about 8 per cent today. Compare that with increases in Europe from 1.5 per cent to between 5-6 per cent....
...JPMorgan, Bank of America, Citigroup and Wells Fargo all reported quarterly earnings on Friday. JPMorgan was alone among the group in posting record net profits for the year of $49.6bn....
...Some 216,000 posts were created in December, up from a revised 173,000 in November. Unemployment held steady at 3.7 per cent....
...Bills are more liquid and there’s been an absolute ton of demand; you know how everyone has been moving cash out of their bank accounts and into money-market funds? That’s on my list of things to do....
...It said the list might as well include state employees’ meals at its restaurants or accounts with its banks....
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent according to BankRegData, which collates quarterly reports from lenders to the Federal Deposit Insurance Corporation...
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
...With monetary easing under way at home and expected soon from other major central banks, they see conditions for a revival of initial public offerings in the region’s leading economy....
...The Americas accounts for roughly half of UBS’s invested assets and nearly two-thirds of its advisers....
...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....
...UK inflation fell less than expected to 3.2 per cent in March, hitting hopes of early interest rate cuts from the Bank of England....
...Active ETFs now account for 30.7 per cent of the $315bn Canadian ETF market, according to data from Morningstar Direct....
...At the start of this year the government expanded the size of the Nippon Individual Savings Account scheme for individuals, raising both the limit on annual contributions from ¥1.2mn to ¥3.6mn and the cumulative...
...They are raising their rates on everything from savings accounts to certificates of deposit....
...Only 15 per cent of its US deposits are in non-interest-bearing accounts. These deposits — the cheapest source of funding for banks — fell 5 per cent between the second and third quarter....
...While no direct fatalities have resulted from the geological disturbances in Maceió, there are accounts of suicides, livelihoods lost and communities torn apart....
...Active ETFs may account for only up to around 7 per cent of assets in ETFs, he said, but about a fifth of the inflows....
...to 3 per cent....
...Bank of America reported an increase in third-quarter profits as the country’s second-largest bank continued to benefit from higher interest rates, and its traders delivered their best performance in a decade...
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