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...It also withdrew an application to launch a spot bitcoin ETF after the US Securities and Exchange Commission approved 10 others....
...The proxy adviser now has a blanket ban against former chief executives becoming chair, a position that goes well beyond the requirements of German law....
...or cash equivalents (such as marketable securities)”....
...Wells Fargo shares closed 1.4 per cent lower in New York on Tuesday, as the S&P 500 dropped 0.1 per cent....
...Wells still operates under a Federal Reserve order that caps its assets because of lingering regulatory concerns. Sloan joined the investment firm Fortress as a senior adviser in 2020....
...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...
...Wells Fargo alone said it spent more than $1bn on unexpected job cuts in the fourth quarter....
...Please tell us if think the Wells Fargo asset cap will be lifted in the comments section below....
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to mid-sized US companies, as banks race to find a toehold in the rapidly growing private credit...
...The bulk of Russian central bank assets — roughly €190bn — is held at Euroclear, a central securities depository based in Belgium....
...Here’s what else I’m keeping tabs on today: Earnings: The major US banks begin reporting earnings today, with JPMorgan, Citi and Wells Fargo all updating investors....
...funds that were launched years ago for select clients of firms such as Wells Fargo and JPMorgan....
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to midsized US companies, as banks race to find a toehold in the rapidly growing private credit...
...The group said the payments covered “appropriate home security systems”, as well as security consultancy and other services.JPMorgan chief executive Jamie Dimon received $150,645 “for the cost of residential...
...Wells Fargo last month said it was setting aside $1bn for severance costs in the fourth quarter....
...The ECB, for its part, has said that it lacks data on asset-backed securities and other structured products issued by financial corporations that are eligible as collateral....
...But it jumped 34 per cent at JPMorgan to $89.7bn, more than double the increase of the next bank, Wells Fargo, which reported a 16.5 per cent rise....
...The 12 large cap banks followed by Morgan Stanley analysts, including PNC, JPMorgan Chase, Bank of America and Wells Fargo, now have more than $180bn of excess common equity tier one capital — a record high...
...Wells Fargo has named Doug Braunstein as a vice-chair. He has previously been a senior investment banker and executive at JPMorgan....
...invested in China to the US Securities and Exchange Commission....
...Look out the first of the large financial groups reporting their results, including JPMorgan, Citi, State Street, Wells Fargo and BlackRock on Friday....
...Israel-Hamas war: The UN Security Council is to meet to discuss sexual violence....
...At present, a branch of the main clearing house the Depository Trust and Clearing Corporation, called the Fixed Income Clearing Corporation, is the only venue where Treasury trades are cleared....
...Wells Fargo says its net interest spread is 3.1 per cent, but it would be 2.39 per cent without the non-interest liabilities, of which $383bn are deposits....
...Wells Fargo has had an asset cap since 2018 as punishment for opening millions of false accounts, which has curtailed profitability....
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