Hints and tips:
...Santander has hired a trio of senior US bankers, Bloomberg reported....
...Shares in PacWest Bancorp crashed after hours, on reports it had hired advisers for a sale or capital raise....
...Probably not,” says Ana Botín, executive chair of Spanish lender Santander....
...Berkshire remains a top shareholder of Bank of America, American Express and US Bancorp....
...US Bancorp continued that theme on Wednesday, as the number five bank by assets became the latest to beat analysts’ profit forecasts....
...Grasshopper chief executive Judith Erwin also founded Square 1 Financial, a venture bank that merged with PacWest Bancorp in 2015....
...US Bancorp has been the subject of a ton of speculation as investors and bankers bet who will be the next to merge....
...BNP Paribas and Santander — the eurozone’s two biggest lenders — are widely seen as probable consolidators....
...Mid-sized banks The lenders set to gain most from the bill are mid-sized banks such as Silicon Valley Bank, Zions Bancorp, CIT Group and Comerica, which have a substantial presence in parts of the US....
...Another bank, Zions Bancorp, failed on quantitative grounds....
...JPMorgan, Santander, US Bancorp and EverBank also have to get permission from the OCC before acquiring new mortgage servicing rights or new contracts to perform mortgage servicing....
...Three other banks besides Citi failed the test on qualitative grounds last year: Royal Bank of Scotland, Santander and HSBC....
...Last year Zions Bancorp, a Utah-based bank, was the only bank to fail to clear that hurdle, which gauges whether banks have enough capital to withstand various stressful scenarios....
...Another bank to fail last year was Santander....
...The Fed widened the scope of its study this year by examining 30 large banks, rejecting the capital plans of the US units of HSBC, Royal Bank of Scotland and Santander, as well as Zions Bancorp, a Utah-based...
...Four others – US units of HSBC, RBS and Santander as well as Zions Bancorp also had plans denied, but Citigroup was the only US megabank....
...Only one bank, Utah-based Zions Bancorp, was rejected because it failed to meet the minimum tier one common capital ratio of 5 per cent....
...It had its dividend and share buyback plans overturned by the Fed, and smaller US lender Zions Bancorp had its plan rejected....
...Zions Bancorp, a smaller Utah-based lender also had its plan rejected after failing the stress tests last week....
...(Financial Times) Banks sell novel package of obscure trade finance assets: Citigroup and Santander have sold $1bn of trade finance assets in a securitisation designed to pave the way for more obscure assets...
...The IRS has been battling six US banks – BB&T Corp, Bank of New York Mellon Corp, Sovereign Bancorp (now a unit of Banco Santander), Wachovia Corp, Washington Mutual Inc and Wells Fargo & Co – over tax credits...
...The payment services deal comes after the £1.65bn sale of 318 branches to Santander this week and leaves only a few further divestments that RBS must make to comply with the terms of last year’s state-aid...
...It has sold half of its Sempra Commodities trading business to JPMorgan and is set to sell a portfolio of 318 branches to Spain’s Santander....
...It is also considering floating its Sovereign Bancorp subsidiary in the US in 2011 or 2012....
...Santander, for example, is widely tipped as the probable buyer of about 320 RBS branches that it is being forced to sell....
International Edition