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...Despite being the number six US bank by size, it only has a sixth of JPMs assets. It is still basically a regional bank, albeit a big one....
...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...
...Jamie Dimon, chief executive of JPMorgan Chase, has warned that they risk making US banks uninvestable. Banking lobby groups have threatened lawsuits....
...Although default rates have gone up a bit in triple-C bonds, in bank loans and in private credit, the reality is they’re still low in historical terms, and there’s still a tremendous amount of dry powder...
...Two scoops to start, first: JPMorgan Chase spent more than a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank...
...On the liability side, it assumes $92.5bn in deposits, $28bn in expensive Federal Home Loan Bank debt, $50bn in five-year fixed rate Federal Deposit Insurance Corporation funding, and $2bn of bits and bobs...
...That fatally wounded Signature Bank then First Republic, which was seized by the FDIC and sold to JPMorgan Chase on May 1....
...“I talked at length with President Sassou N’Guesso, including about the above new mine. Exploration, he told me, has been undertaken by a consortium of investors backed by JPMorgan....
...Austria’s Raiffeisen Bank International has more than €750mn of exposure, according to people familiar with the details, while documents seen by the FT indicate a range of global banks have outstanding loans...
...The bank’s performance was considerable worse that its rivals. Earnings at JPMorgan Chase and Wells Fargo, which both also reported results on Friday, jumped 67 per cent and 57 per cent, respectively....
...while Sumitomo Mitsui Banking Corporation has a partnership with Jefferies Financial Group....
...The sequence of events, reflected this week in JPMorgan Chase’s purchase of First Republic Bank goes something like this. Rates go up some more....
...Investors will have a clearer view of Schwab’s prospects when it pays off $31.8bn owed to the Federal Home Loan Bank. Clearing the debt will hold back earnings for a while....
...By contrast, JPMorgan Chase and Wells Fargo — the nation’s first and third-largest banks, respectively — each had about $40bn in unrealised bond market losses, while fourth-largest Citigroup’s paper losses...
...The deal “is a surprise to us that needs lots of explaining”, said JPMorgan Chase analyst Kian Abouhossein....
...and were made before the pandemic ushered in a work-from-home culture....
...The windfall made First Citizens the second-most profitable bank in the US during the quarter, just behind JPMorgan Chase, which earned $12.6bn....
...One banking analyst pointed to a caveat in comments made by JPMorgan Chase chief executive Jamie Dimon after the First Republic takeover....
...Big US banks such as JPMorgan Chase and Citigroup have been inundated with requests from customers seeking to transfer funds from smaller regional banks since SVB’s failure....
...If you were a tech founder they would help you fund your mortgage at your house in Palo Alto. They would be the bank you went to for a loan to buy a vineyard in Napa....
...JPMorgan Chase, which had led an effort to save First Republic a month ago, is to acquire most of the embattled lender....
...JPMorgan Chase has promoted 37 dealmakers to managing director, per Financial News....
...“We do not believe there’s a global banking crisis on the horizon,” Quinn said, adding he was “pleased there was a resolution” with JPMorgan Chase agreeing to buy most of First Republic’s business....
...The NII of JPMorgan Chase rose almost 50 per cent to a record $20.7bn during the first quarter. Even regional banks have fared better than feared....
...Late last month it walked away at the eleventh hour from a planned $300mn share sale being arranged by JPMorgan Chase (one of vanishingly few such deals in a market that until very recently had been lucrative...
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