Hints and tips:
...And here’s what I’m keeping tabs on today and over the weekend: Results: Several large US banks report annual results today, including Citigroup, JPMorgan Chase, Wells Fargo and Bank of America....
...A revolving credit facility and term loan covering a portion of the debt is being led by RBC Capital Markets, Wells Fargo and SMBC....
...The day ahead Bank earnings Thanks to interest rate rises, analysts estimate JPMorgan Chase, Bank of America, Citigroup and Wells Fargo will report collective net interest income for the final three months...
...The National Association of Home Builders/Wells Fargo housing-market index, which measures building confidence, is due this morning....
...The Bank of Japan on Monday made an unexpected change in how it controls its government bond market by allowing long-term yields to fluctuate from about minus 0.5 per cent to 0.5 per cent, from minus 0.25...
...Wells Fargo has hired Evercore’s Sesh Raghavan as a managing director and its new head of power, utilities and renewables mergers and acquisitions....
...The pullback from Wall Street banks shouldn’t come as much of a surprise....
...As one Wells Fargo analyst put it: “It’s a string of pearls approach where they buy smaller fintech firms to better advance the asset management business with lower cultural, operating and goodwill hurdles...
...By contrast, Wells Fargo and Bank of Montreal, banks with subscale asset management arms, are looking to shed them. Meanwhile, several standalone players have become the targets of activists....
...Hedge funds were pulling their balances from Morgan Stanley at an alarming rate, funding markets seized up and the value of the bank’s trading assets plummeted....
...Goldman agreed to guarantee that Malaysia will receive at least another $1.4bn from selling seized assets acquired with misappropriated funds....
...In the US, $9.5bn of credit charges — including loan loss provisions — pushed Wells Fargo to a $2.4bn loss, while profit fell more than 50 per cent at Citi, Bank of America and JPMorgan....
...The Fed agreed to “temporarily” lift Wells Fargo’s asset cap so that the bank can lend more to customers. Democrats, meanwhile, have set out new demands for coronavirus stimulus....
...Just four banks, JPMorgan Chase, Bank of America, Wells Fargo and Citigroup, have much of the excess dollar bank reserves....
...The OAG then went on to outline the series of unsuccessful banking relationships Tether and Bitfinex were forced to pursue after Wells Fargo had suspended its relationship with the group due to concerns...
...Guy Moszkowski, banks analyst at Autonomous, said the US banks with big retail arms — Wells Fargo, Bank of America, JPMorgan and Citigroup — are benefiting from the Federal Reserve’s interest rate rises...
...“This is a watershed event,” said Mike Mayo, banking analyst at Wells Fargo Securities, who argued that the component parts of Citi’s business were worth almost two-thirds more than the bank’s $175bn market...
...Wells Fargo has been rattled over the past year by its own mis-selling scandal....
...Campaigning shareholders have seized on the difficulties at Wells to push for changes....
...That supports a tight spread environment,” says Niklas Nordenfelt, a portfolio manager with Wells Fargo Asset Management. Others are less sure....
...The shareholder activist campaigning for Wells Fargo to split the roles of chairman and chief executive has seized on the bank’s fake accounts scandal to demand an even bigger boardroom shake-up....
...(NAR) Illinois to suspend investment activity with Wells Fargo The state’s decision to temporarily halt $30bn in investment activity with the troubled bank marks the latest setback from its sales scandal...
...Deutsche Bank, Bank of America Merill Lynch, Credit Suisse, Goldman Sachs, UBS, Citi and Wells Fargo led the transaction from Charter Communications subsidiary CCO Holdings....
...Gox funds from Karpeles’ Wells Fargo account in alleged retaliation for his refusal to cooperate with them on the Silk Road affair, says The Daily Beast....
...The pair have teamed up in a controversial scheme to wrest the housing loans away from JPMorgan Chase, Wells Fargo and 30 other banks by relying on a novel interpretation of eminent domain laws, an idea...
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