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...Dimon’s meetings came as the banking industry has launched a lobbying effort against US regulators’ proposal for more stringent bank capital rules....
...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...
...Larger banks such as JPMorgan Chase, Bank of America and Wells Fargo also saw their profits fall in the final quarter of 2023....
...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....
...Last year, Wells Fargo signed a deal to lend billions to a new credit fund run by Centerbridge, a $40bn private equity firm that led the buyouts of restaurant chain P.F....
...US lenders — JPMorgan Chase, Bank of America, Wells Fargo and Citigroup, according to a Bloomberg analysts’ consensus....
...We truly have a market system that has been captured by large corporations, something that I experience nearly every day in my own working life....
...British bank HSBC and US lender Wells Fargo are bucking that trend, having partnered in 2021 to use blockchain to settle foreign exchange transactions between them....
...In 2021, JPMorgan leapfrogged Wells Fargo as the bank with more branches than any other in the US....
...The average reserves at JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley have fallen from $1.60 to 90 cents for every dollar of commercial real estate debt on which...
...So that’s basically for big banks that take in lots of deposits like JPMorgan or Wells Fargo. That’s really where they make a lot of their profits from....
...BlackRock, Citigroup, JPMorgan Chase, Wells Fargo, BNY Mellon and Bank of America will all report fourth-quarter figures on Friday....
...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....
...The Wells Fargo Investment Institute has five hot ideas for your portfolio this year....
...While Zambia remains in default, the central bank has been battling depreciation of the kwacha against the dollar and a revival of inflation....
...Bleed to the digital euro would erode banks’ Net Stable Funding Ratios as well as Liquidity Coverage Ratios....
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent according to BankRegData, which collates quarterly reports from lenders to the Federal Deposit Insurance Corporation...
...Wells Fargo has lowered its earnings per share estimates for the sector by 2 per cent this year and 5 per cent next year. Morgan Stanley has cut its forecasts by 3 per cent next year....
...And it’s a similar story at other US banks. 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....
...It was once the largest corporation in the world, and its plants lined the banks of Pennsylvania’s Monongahela River. The closure of those plants was lamented in a song by Bruce Springsteen....
...“If Jamie Dimon left tomorrow, I do think the stock would decline 5 per cent,” said Mike Mayo, a longtime banking analyst at Wells Fargo who is known for sparring with bank executives in earnings calls....
...Tech will in any case not benefit directly from a post-Brexit trade deal that allows Northern Ireland to trade into the EU as well as the UK because it only covers goods....
...He will join the panel on a two-year secondment from the bank beginning in May. Wells Fargo has named Doug Braunstein as a vice-chair....
...These markets are vital for financing governments, for monetary policy transmission and for the hedging of interest rate risk for banks, investors and corporations....
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