Hints and tips:
...When asked by House Democrat Sean Casten whether they were still funding the group, JPMorgan Chase’s Jamie Dimon and Wells Fargo’s Charles Scharf both said they did not know....
...John Hines, global head of investment-grade debt capital markets at Wells Fargo, pointed out that borrowers did “tend to get their annual financings done generally before the fourth quarter”....
...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’s bank analyst Mike Mayo has a well-deserved (if not entirely unblemished) reputation for being an unusually acerbic member of the “great quarter guys!” industry....
...“There is a sense that [the market] might continue to feel good, but it very well might not,” said Wells Fargo’s O’Connor....
...Other US banks on the list included Wells Fargo, Bank of America and Citigroup. Citi and Wells Fargo declined to comment, while BofA did not respond to a request for comment....
...For Maureen O’Connor, global head of high-grade debt syndicate at Wells Fargo, “economic uncertainty in the form of classic recessionary headwinds is what’s pushing issuers earlier in the year....
...And let’s not overlook the backlash to the Supreme Court rule, the Dobbs ruling on scrapping Roe v Wade....
...But the resolutions were backed by only about 11 per cent of shareholders at Wells Fargo and Bank of America and fewer than 13 per cent at Citi....
...All six of the banks targeted by the New York State Common Retirement Fund, which also included Citigroup, Morgan Stanley and Wells Fargo, have joined Mark Carney’s Net-Zero Banking Alliance (NZBA) that...
...Citi moved behind Wells Fargo in 2021, providing $41bn of financing, down from $49bn the year before....
...The US president announced last month he intends to appoint Saule Omarova as comptroller of the currency, which supervises national banks including Bank of America and Wells Fargo....
...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?...
...Investors are also looking ahead to earnings season, with big US banks including JPMorgan Chase, Bank of America, Citigroup and Wells Fargo all set to release their quarterly reports this week....
...Investors were spooked after the Bank of England on Thursday said it was examining how a negative interest rate “could be implemented effectively”, as well as by renewed concerns about lockdowns and the...
...Provisions were higher in the US than in Europe, with more than $57bn across JPMorgan, Wells Fargo, Citigroup and Bank of America alone....
...Or look at the action of banks. This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected....
...He said he expected dividend payments to largely be flat overall this year, and a dividend cut is already factored into Wells Fargo’s share price....
...But a lengthy cycle of loan losses and business failures remains a legitimate risk scenario (just look at the initial reaction to the results from Wells Fargo)....
...Wells Fargo pays more, and JPMorgan and Bank of America not much less. That may not be a great reassurance when the duration of the shutdown is uncertain. But there is another reason for hope....
...Across their overall books senior executives at Bank of America, Wells Fargo and US Bank have publicly said that between 25 per cent and 40 per cent of those who were granted forbearance continued making...
...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....
...“We’re here to help,” said Brian Moynihan of Bank of America. “We are here to help,” said Michael Corbat of Citigroup. “We are all here to help,” said Charlie Scharf of Wells Fargo....
...Since 2016, when US regulators revealed that Wells Fargo had opened millions of unauthorised accounts, nine of 14 members of the bank’s board of directors have stepped down, and the chief executive has changed...
...Saudi Aramco has hired Wells Fargo banker Robert Fernandez to manage its relationship with banks after the oil company completed the world’s biggest share sale....
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