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...At the same time, Biden has scaled up his fundraising efforts among Democrats on Wall Street to pay for his re-election campaign against Trump, in which he has a substantial financial advantage....
...Revenues at the private bank fell 17 per cent in 2023 to $2.3bn, and totalled $7.1bn across Citi’s wealth management division, down 5 per cent year on year....
...“The top five market players in the world are American banks. If we all have to recalibrate, the impact on liquidity in the system will be huge.”...
...“We’re in pretty good shape and so far it looks like that soft-landing type of scenario,” Dimon said. “But put me on the cautious side of that one.”...
...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...
...It’s definitely growing, as Bank of America points out in a recent note....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...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...
...The bank estimates that total assets under management in US-listed option ETFs have jumped by about 700 per cent to around $100bn over the past three years....
...At JPMorgan Chase, investment banking head Vis Raghavan regularly told recruits, “You’re either reading the news or making the news.”...
...These were bigger gains than at rival banks JPMorgan Chase and Citigroup, which reported results last week. Investment banking, meanwhile, had its best quarter in two years, with revenues of $2.1bn....
...Other top banks Citigroup, JPMorgan Chase and Wells Fargo also recorded drops in lending in the first three months of the year as they revealed results late last week....
...This could force refiners to chase the lowest-cost raw materials, often produced in China....
...If you want to include all non-bank lending to the private sector, then you get a figure that is very large indeed!...
...This is something the central bank could conceivably act on in March....
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
...The bank has said that the Chase branches opened since 2017 had so far contributed around $85bn in deposits. Outlook Dimon appears to be going nowhere....
...JPMorgan Chase is suffering a wave of cyber attacks as fraudsters get “smarter, savvier, quicker, more devious, more mischievous”, the bank’s head of asset and wealth management has said....
...Rivals JPMorgan Chase and Morgan Stanley also raised their chief executives’ pay for 2023....
...The biggest US banks — including JPMorgan Chase and Bank of America — have criticised the measure, arguing that higher capital requirements would increase borrowing costs and push lending outside the regulated...
...“Children don’t live in silos,” says Pryce. “Children can have educational opportunities but, if they don’t have a house, they’re not going to grow up to be productive citizens.”...
...The need to offer higher rates to keep deposits, which is the primary source of funding for banks, has remained a strain on the profit margins of smaller banks, even as larger lenders like JPMorgan Chase...
...News clip It’s JPMorgan Chase to the rescue. JPMorgan Chase has a deal to buy Bear Stearns for $2 a share....
...Email me at nikou.asgari@ft.com If you live in the UK and want to trade crypto, which bank do you use to transfer money to your preferred exchange? Definitely not JPMorgan’s Chase UK....
...They’re very loyal clients. They tend to stay with the bank for a good long time.”...
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