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...a token title....
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...JPMorgan, Bank of America, Citigroup and Wells Fargo all reported quarterly earnings on Friday. JPMorgan was alone among the group in posting record net profits for the year of $49.6bn....
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...British bank HSBC and US lender Wells Fargo are bucking that trend, having partnered in 2021 to use blockchain to settle foreign exchange transactions between them....
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...The Bank of Mexico on Thursday cut interest rates for the first time in this cycle, making it the latest major Latin American central bank to begin lowering borrowing costs....
...In a statement, HSBC said it was pleased to resolve the matter: “The PRA’s final notice recognises the bank’s co-operation with the investigation, as well as our efforts to fully resolve these issues....
...“We need to show that we’re more effective, that we’re having more impact, that we’re using every dollar in the best way,” he said in an interview....
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...Wells Fargo is setting aside as much as $1bn for “unanticipated severance” in the last three months of the year, the bank has said....
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...Please tell us if think the Wells Fargo asset cap will be lifted in the comments section below....
...Shares in HSBC fell the most since 2020 after the bank reported an 80 per cent drop in quarterly profit and a $3bn charge on the value of its stake in a Chinese bank....
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...The rules will for the first time make the size of the bank created by a merger a factor in determining which deals receive further scrutiny from the FDIC....
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