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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
..., un-American, unprecedented, and practically impossible” for a company to post....
...Deposit Insurance Corporation....
...A 2021 “report card” by the American Society of Civil Engineers found that 42 per cent of bridges were more than 50 years old and 7.5 per cent were “structurally deficient”....
...For example, a bank will go to a third-party brokerage like Fidelity and ask it to find customers for a large block of high-yielding certificates of deposit....
...Big private equity-cum-asset managers buy insurance companies (see also: Apollo/Athene, Brookfield/American Equity) not to cross-sell, but to gain a source of stable capital....
...Credit card interest and fees increased by $51bn in that time to $157bn, according to data provided by US banks to the Federal Deposit Insurance Corporation....
...In the wake of three of the largest bank failures in US history a year ago, the US Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency are all pushing...
...The seven large funds are controlled by just four parent companies — Fidelity Investments, JPMorgan, BlackRock and Vanguard. 18 months ago, JPMorgan MMFs had the biggest market share, with $340bn, but now...
...They have also garnered the support of Republicans in the House, who called on the heads of the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency...
...The eurodollar market grew in no small part as a way for first Europeans and later Americans and Asians to avoid paying the cost of the Fed’s reserve requirements....
...That is welcome news for asset managers with large money market businesses, such as Fidelity, Vanguard and JPMorgan....
...News round-up Freshfields’ former tax partner sentenced to 3½ years in jail (FT) Zurich’s sale of $20bn life insurance book to PE-backed group collapses (FT) Sotheby’s cleared of art fraud in Russian...
...The writer is a former investment banker and author of ‘Power Failure: The Rise and Fall of an American Icon’ In the last 10 years, both retail and institutional investors have swarmed into US money-market...
...With just a few trading days of 2023 remaining, insurer Legal & General ranks as the most purchased share of this year so far among customers of Hargreaves Lansdown, Fidelity and AJ Bell, and rival Aviva...
...They say the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency have exceeded their remit and could diminish the competitiveness of US banks by unilaterally...
...When banks fail, there’s something called the Federal Deposit Insurance Corporation, and it has a fund which rescues banks and insures the deposits of average Americans....
...While the Fed, the OCC and Federal Deposit Insurance Corporation have the authority to block deals under banking laws, the US Department of Justice may challenge bank mergers citing antitrust statutes....
...The North American country “has the potential to be as important as Brazil for us”, said Vélez, citing its large population of almost 130mn and higher income per capita....
...changing behaviour,” the BPI and the American Bankers Association said in a joint submission to the Federal Reserve, the Federal Deposit Insurance Corporate and the Office of the Comptroller of the Currency...
...obtaining deposit insurance....
...by signing up for a checking and a savings account. Even credit card companies are jumping in, with American Express offering $250 to new current account customers....
...US regulators recommended partly revamping American deposit insurance to increase the coverage for day-to-day business accounts as a way to reduce the risk of bank runs such as the ones that brought down...
...In a recession, funding dries up and you don’t have any FDIC insurance, which causes people to run to the banks with their deposits....
...It has made an annualised return of about 15 per cent since 2015 when it bought the company from insurers Zurich Insurance and Aegon. 7IM — named after its seven founders — has grown over the past eight...
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