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...Salameh, who has denied all allegations of misconduct, was charged by prosecutors in Beirut in 2022 with embezzling more than $330mn in public funds....
...The western assets on offer are mostly shares and depository receipts in blue-chip stocks held through accounts at Russian brokerages and frozen by the sanctions....
...As the Financial Times reported, that is more than double the increase of the next bank, Wells Fargo, which reported a 16.5 per cent rise....
...All of the nation’s largest lenders, including Bank of America, JPMorgan and Wells Fargo, submitted letters, none of which discussed share buybacks or dividends....
...Here’s what else I’m keeping tabs on today: Earnings: The major US banks begin reporting earnings today, with JPMorgan, Citi and Wells Fargo all updating investors....
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...At the time there wasn’t even a small-caps index — the Russell 2000 was born in 1984 — so this was a big deal. Subsequent research showed that this also held true in myriad international markets....
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...Citi, where two-thirds of its deposits are held in corporate accounts, is paying an average rate of 3.4 per cent on interest-bearing deposits, up from 1.2 per cent a year ago....
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...However, it is unclear whether the extra £5,000 would be more productive in tax-free UK investments or a regular trading account....
...In the past year delinquent commercial property debt for the six big banks — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley — nearly tripled to $9.3bn....
...And it’s a similar story at other US banks. Wells Fargo says its net interest spread is 3.1 per cent, but it would be 2.39 per cent without the non-interest liabilities, of which $383bn are deposits....
...But more than £1tn of the nation’s savings is still sitting in accounts earning less than 2 per cent, while the base interest rate is 5.25 per cent, according to an analysis of Bank of England credit data...
...The three biggest recipients of bank credit commitments are 1) “other vehicles”, which UBS says includes closed-end funds, pensions, hedge funds and other investment funds 2) non-bank mortgage brokers, along...
...of Russia’s deposit account....
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...the bank held....
...Of the Big Six banks, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley are all expected to report a drop in their earnings per share this quarter. JPMorgan will be the exception....
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...year on a sustainable basis, while still maintaining a well-capitalised central bank”, the authors wrote....
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