Hints and tips:
...New York Community Bancorp and its chief risk officer parted ways shortly before the regional US lender reported larger than expected losses from real estate lending that hammered the bank’s stock....
...New York Community Bancorp shares shed a quarter of their value on Friday after the regional lender disclosed it had replaced its chief executive and identified “material weaknesses” in internal controls...
...Investors at the time propelled NYCB shares higher. Those gains were completely erased after NYCB reported its fourth-quarter results on Wednesday....
...Back then, I argued that NYCB investors had to contemplate two unsavoury possibilities....
...Regulators require that weaknesses in those controls are prominently flagged to investors....
...Mnuchin’s firm, Liberty Strategic Capital, is being joined by other investors including Hudson Bay Capital, Reverence Capital Partners and hedge fund Citadel....
...US regional lender New York Community Bancorp has sought to reassure inventors that it is still taking in new deposits, after a week in which its share price has more than halved and it was downgraded to...
...“The actions should alleviate investor concerns about NYCB’s ability to navigate the current crisis,” they wrote. The FDIC does not name the individual banks on the problem bank list....
...The revelations shocked investors, sending NYCB’s stock down almost 40 per cent to wipe out its gains since its takeover of Signature....
...Investors and analysts now seem more focused on banks’ profitability than talk of more bank runs or failures....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Providence-based Citizens Financial Group, the nation’s 15th largest bank by assets, told investors its income from lending would grow at about half the rate it had forecast, because it would have to pay...
...PNC Financial, Truist, Fifth Third Bancorp, M&T Bank, Huntington Bancshares, Comerica, Zions Bancorp, US Bancorp, Citizens Financial, Regions Financial and Key Corp all delivered year-on-year growth in quarterly...
...Investors would do well to know it better. Wisconsin-based Fiserv is one of the “Big Three” in bank technology....
...(Pimco) — The PagerDuty CEO who quoted Martin Luther King in her mass sacking email is v v v sorry....
...The company also dumped its position in regional bank US Bancorp and more than halved its stake in Bank of New York Mellon....
...Smaller regional and “super-regional” banks such as Citizens and US Bancorp will report results the week of April 17. First Republic will report on April 24....
...Berkshire in the final quarter sold more than $16bn worth of stocks, dumping shares of chipmaker Taiwan Semiconductor Manufacturing, regional bank US Bancorp and Bank of New York Mellon....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...The well-known value investor has had a sometimes fractious relationship with the tech industry....
...Vernon Hill, the former chair of UK retail lender Metro Bank, is asking a federal court to block a move by his boardroom adversaries to oust him as chair of a US bank called Republic First Bancorp....
...It also sold $2.3bn of shares in the second quarter, cutting its stakes in General Motors, US Bancorp and grocer Kroger, and exited its positions in Verizon and Royalty Pharma....
...don’t already know may be disappointed to learn that The Anschutz Corporation (which owns AEG, which also runs Coachella) gave $75,000 to the Republican Attorneys General Association five days after Roe v....
...However, top executives at Capital One, Huntington Bancshares and Fifth Third Bancorp struck an optimistic tone at an industry conference last week....
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
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