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....
...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...
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...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?...
...Sales requiring mortgage finance are particularly at risk since banks will not approve a mortgage until the permit has been obtained, he says. “The industry was caught unaware....
...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......
...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....
...Here’s what to watch for at the third Democratic primary debate, which starts at 8pm ET....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...Once again, Wells Fargo is in trouble....
...(FT) Shareholders rebel at Wells Fargo Directors at Wells Fargo were in the line of fire for their alleged lack of action over illegal practices at the bank during a turbulent board meeting on Tuesday night...
...All of the growth in bank credit since 1980 has gone to mortgages....
...In six similarly-worded suits, filed on Wednesday at the Supreme Court in New York, the investors alleged that the banks – which also include Citigroup, Bank of New York Mellon, US Bancorp and Wells Fargo...
...(Financial Times)(Wall Street Journal)(Bloomberg)(FastFT) Moody’s may downgrade biggest US banks, saying bailouts less likely in future: Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo could...
...Masterpieces of Chinese Painting: 700-1900, edited by Zhang Hongxing, V&A Publishing, RRP£40/$60 The world’s oldest painting tradition explored in the glorious catalogue to the V&A’s current, once-in-a-lifetime...
...Again, it was all a bit vague in the courtroom, but one idea seemed to be giving NML et al whatever the backlog of 11 years of payments was, and then paying them at the EBG rate thereafter....
...(Financial Times) US prosecutors are suing Wells Fargo, accusing it of lying about the quality of mortgages it issued with Federal Housing Authority insurance....
...This was expected but it’s still a potentially damaging blow to Bank of America, Wells Fargo, JP Morgan Chase, Citi, and GMAC, and to a housing recovery that is yet to even begin....
...However, Franklin Codel, executive vice-president of Wells Fargo Home Mortgage, said that even borrowers with negative equity could refinance and there was no blanket demand from banks for big downpayments...
...However, he was prepared to invest in banks at the right price, obtaining 10 per cent of Wells Fargo for less than $300m in 1989 and 1990, helped by what he called “a chaotic market in bank stocks”....
...12.55 Mortgage indemnities to be used to help 100,000 young families struggling to raise a deposit to buy newly-built homes....
...Related links: SEC V. TREVOR G. COOK, PATRICK J. KILEY, ET AL, Case No. 09 CV 3333 – SEC Litigation release...
...“There has been a focus on banks’ capital, liquidity and their mortgage exposure.”...
...It is a far cry from the heady years before the crisis when builders made hundreds of thousands of new homes a year and Spanish banks were liberally disbursing loans to homebuyers and developers....
...What really happened at Northern Rock, Royal Bank of Scotland et al? This gives you a clearer idea....
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