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...The business was viewed as one of the bank’s most successful units, but took up too much capital and was jettisoned as part of a final restructuring plan....
...The Bank of England plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, according to people familiar with the matter, as concerns mount about the risk...
...Mellon acquired three-quarters of the London-based boutique asset manager in 1996 before purchasing the remaining chunk of the business in 2002....
...But one government official with direct knowledge of the matter said: “The Treasury is working towards a September fiscal event and will try to cut national insurance by another 2p. That’s the plan.”...
...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....
...BNY Mellon has been hit by more than $900mn in investment markdowns, litigation and costs related to a Federal Deposit Insurance Corporation assessment, as the last vapours of last year’s banking crisis...
...The board of the Federal Deposit Insurance Corporation on Thursday was scheduled to vote on the proposals, one from Republican member Jonathan McKernan and the other from Rohit Chopra, a Democrat....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...Republican board member Jonathan McKernan and the Democratic chair Martin Gruenberg are each crafting measures that would demand new requirements of funds that hold more than 10 per cent of a bank’s shares...
...In the UK, the Bank of England has proposed limits for so-called funded reinsurance deals....
...A top US bank regulator is proposing new limits on big bank mergers, in the wake of the failure of Silicon Valley Bank and two other banks last year, and the recent market turmoil around New York Community...
...A group of Wall Street veterans is now setting its sights on a new target: failed banks....
...— The Japanese Bid for Foreign Bonds After the End of Yield Curve Control (Brad Setser and Alex Etra) — Why do people let their life insurance lapse?...
...’s largest banks to rebuild its depleted deposit insurance fund....
...The number of problem banks in the US has jumped 18 per cent, regulators warned, as New York Community Bank was stabilised by a $1bn capital raise led by former US Treasury secretary Steven Mnuchin....
...New York Community Bank, which raised more than $1bn this month to shore up its finances and after shedding two-thirds of its market value since the end of January, had previously more than doubled its assets...
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...“This won’t be the last of these stories,” said Adelaide Polsinelli, a longtime New York City broker and vice-chair at Compass....
...But for Winslow, the above could buy him enough time to get back to the boring business of an insurance turnaround. andrew.whiffin@ft.com...
...The New York-based group more than doubled the amount of investments it made to $25bn from $11bn a year ago....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...Instead, he had to settle for the moral support of Andrew Giuliani, the son of the former New York City mayor and his erstwhile lawyer Rudy....
...Shares in NYCB were down about 2 per cent by Wednesday lunchtime in New York....
...The suburban New York-based institution last March acquired most of Signature’s deposits and just over a third of its assets including nearly $13bn in loans, in a deal arranged by the Federal Deposit Insurance...
...Previously, insurance subsidiaries were typically assigned a capital risk weight of 370 per cent. Under the new Basel rules, that weighting should fall to 250 per cent....
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