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...The bank has increased its deposit base by 15 per cent to £3.4bn in the period and has a total loan balance of £2.7bn....
..., Goldman Sachs, Morgan Stanley, Bank of America and Citigroup....
...The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...Are you getting the best deal on your savings? Check the latest interest rates on National Savings & Investments accounts. See our coverage of the latest savings and investment issues....
...See our coverage of the latest savings and investment issues....
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...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....
...Bank of America has shoved back its call for the first Fed cut from June all the way out to December — a huge jump for a tweak that typically moves in increments of one or two months at a time and that opens...
...Bank of America, Goldman Sachs and Morgan Stanley report results early next week. Additional reporting by Harriet Clarfelt...
...Federal Reserve chair Jay Powell has said he still expects inflation to fall towards the US central bank’s 2 per cent goal, as new data highlighted the bumpy road ahead for officials as they debate when...
...Bank of America cut the compensation of its top executive Brian Moyniahn by 3 per cent, or $1mn to $29mn in 2023, a year when the company’s bottom line shrunk and its stock lagged rivals....
...Bank of America’s profits fell 18 per cent in the first quarter, dragged down by a jump in potential loan losses and additional expenses tied to last year’s regional banking crisis....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...In the year to mid-April 2023, some $973bn left US banks, according to Federal Reserve data. Often these funds moved to money market funds, which provided higher rates of return....
...Bank of America has sent “letters of education” to employees who have not been showing up at the office, warning them of disciplinary action, in the latest move from a large company to push staff back to...
...Calvin Tse, head of Americas macro strategy at BNP Paribas, said he does not believe the current gap between the Fed officials’ and the market’s expectations of rate cuts is significant....
...— Argentina recently had a big win in court thanks to a “magic bullet” in its GDP warrants, via Friends of Alphaville Mitu Gulati and Mark Weidemaier (Clauses & Controversies) — Banks seem . . . not uniformly...
...Fed Beige Book: The Federal Reserve will release its report on the current economic conditions of its 12 central bank districts....
...The top six banks have all done better than that — with the unhappy exception of Citi: JPM, Bank of America, Wells and US Bank all outgrew the banking system despite being in the top ten by size back in...
...Banks are unlikely to offer the same high yield on their savings accounts due to costs of intermediation. Direct debt sales to retail investors will therefore suck out funds from bank accounts....
...Last month, Jay Powell, chair of the Federal Reserve, said “broad and material changes” were likely to be made to bank capital rule proposals....
...Jay Powell, chair of the Federal Reserve, likes to say: “It will likely be appropriate to begin dialling back policy restraint at some point this year.”...
...Yet investors should take heart from the more than $800mn in cost savings now expected from the Bank of the West acquisition, up by 20 per cent from initial forecasts....
...The writer is professor of global economics at the MIT-Sloan School of Management, former external member of the Bank of England’s monetary policy committee and member of the White House Council of Economic...
...How does the ECB’s approach compare to the approaches of the US Federal Reserve and the Bank of England? Ariel Slonim at MRU Econinbox...
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