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...Many depositors fled for safety in the first quarter. The volume of deposits held in accounts covered by the FDIC’s insurance fund jumped by $400bn in the first three months of the year....
...In fact, the companies that have gone public since 2013, net of de-listings, currently account for 57% of our small-cap US universe of 2,750 stocks....
...A Bank of America survey this month showed the net percentage of global fund managers who were overweight Japanese stocks had risen to 13 per cent....
...Take a break from the news Psychedelic depictions of animals, plants and people are a frequent feature in a riotous new exhibition of artists from the Huni Kuin indigenous peoples at the São Paulo Museum...
...Citibank, Bank of America, Wachovia and Washington Mutual all failed in 2008 (three were bailed out and one was seized and sold) because managers fatally misunderstood mortgage risk....
...Quicker customers had initiated withdrawals for $42bn that day, leaving the bank with a negative cash balance of $958mn. The next day, regulators stepped in and seized control of SVB....
...The Bank of Jamaica has followed a data dependent tightening of monetary policy to counter the inflationary impulse arising from the rapid recovery in demand and increases in global prices....
...Luckily, he found some in-house inspiration: an innovative deal his former boss Dall had done with Bank of America in 1977, which sought to tackle the difficulty of valuing the cash flows of mortgage-backed...
...Bank of America has named Alexandre Gafsi and Emmanuel Hibou as chairs of technology, media and telecom investment banking for Europe, the Middle East and Africa....
...In the US, the Glass-Steagall Act of 1933, which prevented deposit-taking banks from dealing in securities, was repealed in 1999....
...The final part of the strategy is a financial crackdown in which bank and mobile money accounts suspected of belonging to al-Shabaab are frozen....
...She had come to trust and rely on Gilbert more than anyone in her organisation, so she emptied $1.1mn from an account she controlled and had him put it in a new holding account....
...from the current, historically low level of 3.5 per cent....
...Two pension funds have already dropped out, and some banks such as JPMorgan are threatening to follow....
...A net 71 per cent of fund managers in March said they expected the global economy to weaken over the next 12 months, according to a widely followed Bank of America survey that has data stretching back to...
...from 8.5 hours....
...Economic data Economists forecast that sales of new homes in the US declined in April to 750,000 units, down from 763,000 in March....
...Thank you for reading FirstFT Americas and here is the rest of the day’s news — Gordon Five more stories in the news 1....
...Its Russian subsidiary plans to file for bankruptcy after authorities in the country seized its bank account....
...He bet big on money market funds in an era of high interest rates, and let investors write cheques against their money-market account. He introduced a toll-free sales number, and advertised heavily....
...For private equity fund investors, it’s a nice arbitrage. They can borrow at between 5 and 9 per cent to strike deals they expect to earn 15 per cent rates of return or greater....
...Here is Bank of America’s disclosure from 2007: This will be a little confusing if you are not a former banking reporter like myself....
...Markets whistle past the stagflation graveyard Well this sounds bad: The Consumer Sentiment Index fell by 13.5% from July [to August], to a level that was just below the April 2020 low of 71.8....
...In her account, he’s always defending a woman’s reputation, his family name or a weaker victim. Ancient Romans were raised in less of an honour culture than Dana White....
...The World Bank predicted that gross domestic product for Latin America would contract by 4.6 per cent in the face of Covid-19....
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