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...Rohit Chopra, director of the Consumer Financial Protection Bureau, warned about the effects of large deals on competition and financial stability....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...“I have never lost money for those who invest in me and I am not starting now,” he told Axios earlier this month, when asked about a separate fundraising push by his company X.ai Corp....
...SMBC, whose parent company is Sumitomo Mitsui Financial Group, also committed $2.25bn in financing for Jefferies’s debt underwriting business in 2021....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...The start of the year is typically a strong period for banks’ trading businesses with clients returning in January and taking new financial bets, but markets have lacked much of the frenzy of the past few...
Investors including former Treasury secretary Steven Mnuchin stand to make hundreds of millions on bailout
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...“The financial health of our consumers remains strong,” Wells chief executive Charlie Scharf told analysts....
...Donald Trump is losing support from small donors, US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, and Barclays updated investors on its strategy for the first time in eight...
...The requirements, which would force banks to bolster their financial reserves, have been opposed by many in the industry....
...Alabama-based Regions Financial on Friday reported lacklustre profits, missing analysts’ estimates by more than 15 per cent....
...“The process of going public has been as arduous as the process of buying a home in America, perhaps more,” Vishal Garg, who founded Better in 2016, told the Financial Times....
...The Financial Times reported last week that JPMorgan has stepped up the pace at which it is securitising billions of dollars of its loan portfolio in anticipation of the new rules....
...Additional reporting by Joshua Franklin in New York...
...Two Fed governors have come out against certain aspects of the proposals, warning they would hinder competition and financial markets, among other unintended consequences....
...Citigroup’s chief financial officer Mark Mason said corporate customers, which account for more than 60 per cent of Citi’s overall deposits, had been more sensitive to moves in interest rates....
...The deal gives the Canadian insurer a 6.2 per cent stake in Franklin....
...Smart reads Levying the Loop An onslaught of new taxes and a surge in crime is threatening Chicago’s status as a financial hub with groups such as Ken Griffin’s Citadel headed for greener pastures, Bloomberg...
...My colleague Josh Franklin reported this week that JPMorgan Chase, for example, was planning to pick up the pace at which it securitises and sells off consumer loans in advance of the rule changes....
...It costs the financial system significantly — and especially community banks....
...Cohodes made a profit on his bet as Signature’s share price plummeted before New York state financial regulators shut it down this month....
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