Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...Look out the first of the large financial groups reporting their results, including JPMorgan, Citi, State Street, Wells Fargo and BlackRock on Friday....
...Among large banks, only Wells Fargo has grown assets as fast over the past two decades, and its growing pains are well known. Some regionals have grown faster, but off much smaller bases....
...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...
...Three other mega caps — Bank of America, Wells Fargo and Morgan Stanley — are among the largest 10 banks in the world by market value....
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent. By contrast profits at all other institutions dropped by an average 19 per cent in the quarter....
...If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per cent or more)....
...The tests showed that all of the banks tested, including Bank of America, Citigroup, State Street and Wells Fargo, would meet minimum capital requirements despite projected losses of $541bn....
...Here’s Citi’s Andrew Coombs et al. then: For the European banks, we see less risk of deposit flight and believe they have more liquid balance sheets....
...Here are the 30-day card delinquency rates for Bank of America, JPMorgan and Wells Fargo (Citi has an annoying comparability issue with its historical data so we left it out) the past five first quarters...
...First, higher interest rates imposed by the Federal Reserve since March of 2022 have padded the bottom lines of JPMorgan and its US banking peers Citigroup and Wells Fargo by allowing them to charge more...
...Plus if you really miss Brian Cox et al, you can slowly flick through the archive photographs while humming a haunting piano theme....
...Just to name a few: he’s the country’s national security adviser; he chairs a state investment vehicle and the UAE’s biggest bank; and then, of course, there’s IHC....
...al) wouldn’t bring globalisation to a halt....
...The US president announced last month he intends to appoint Saule Omarova as comptroller of the currency, which supervises national banks including Bank of America and Wells Fargo....
...Capital One, Citigroup, Wells Fargo, Synchrony Financial and Santander You’ve built out a system to manage fraud risk, do you want to do credit risk as well?...
...Pressure group Majority Action targeted Wells Fargo chair Charles Noski (pictured) at the bank’s annual meeting....
...That he probably doesn't have any foreign assets, you know You mean there's not a bank account saying V Putin, the Kremlin. Yeah. But nonetheless, I suppose......
...The same, of course, applies to Le Pen et al in Europe. I don’t know Israel nearly well enough to prescribe a solution to the deep-seated Palestinian-Israeli crisis....
...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....
...For example, in a 2010 opinion (Chevron Corp v Steven Donziger, et al) handed down from the US district court in Manhattan, the judge wrote that the “evidence at trial established that Donziger, a New York...
...“We’re here to help,” said Brian Moynihan of Bank of America. “We are here to help,” said Michael Corbat of Citigroup. “We are all here to help,” said Charlie Scharf of Wells Fargo....
...It is against this background that Hopp et al have raised their heads above the parapet....
...Since 2016, when US regulators revealed that Wells Fargo had opened millions of unauthorised accounts, nine of 14 members of the bank’s board of directors have stepped down, and the chief executive has changed...
...Saudi Aramco has hired Wells Fargo banker Robert Fernandez to manage its relationship with banks after the oil company completed the world’s biggest share sale....
International Edition