Stock market today: Live updates
5 years ago

Stock market today: Live updates

CNN  

Bank regulators are urging financial institutions to work with borrowers in communities hurt by the coronavirus pandemic. In a joint statement released by federal and state regulators Monday evening, the group said that “financial institutions should work constructively with borrowers and other customers in affected communities.” The regulators said “prudent efforts” to provide financial relief to stressed borrowers will not be subject to “criticism” from authorities. The agencies, which include the Federal Reserve, FDIC and Consumer Financial Protection Bureau, also offered to provide “appropriate regulatory assistance” to banks. That includes granting requests in scheduling bank exams or inspections “to minimize disruption and burden.”

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History of this topic

Stock market today: Wall Street rolls to the edge of records as hopes remain for cuts to rates
8 months, 3 weeks ago

Stock market today: Wall Street rolls to the edge of records as hopes remain for cuts to rates

Associated Press  

NEW YORK — U.S. stocks rose Friday after some mixed signals on big banks’ profits and inflation did little to dent Wall Street’s belief that easier interest rates are on the way. In the bond market, which has been home to some of Wall Street’s strongest action this week, Treasury yields yo-yoed after the release of the latest update on …

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating
9 months, 3 weeks ago

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating

Associated Press  

NEW YORK — It’s like Sephora or Starbucks now offered a checking account. After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch. …

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating
9 months, 3 weeks ago

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. After years of closing or mostly neglecting physical bank …

JPMorgan, Citi, BofA tell staff not to poach clients from stressed banks
2 years ago

JPMorgan, Citi, BofA tell staff not to poach clients from stressed banks

Firstpost  

JPMorgan, the nation’s largest bank, told all employees they “should never give the appearance of exploiting a situation of stress or uncertainty,” in a March 13 memo New York: As a series of US lenders were besieged by customers yanking out their money this month, banking behemoths including JPMorgan Chase & Co, Citigroup Inc and Bank of America Corp. warned …

Europe's banks suffer worst day in 9 months after sharp sell-off in U.S. banks
2 years ago

Europe's banks suffer worst day in 9 months after sharp sell-off in U.S. banks

The Hindu  

European bank shares tumbled on March 10 in the wake of a dramatic sell-off in U.S. lenders as concern spread that the sector will be vulnerable to the rising cost of money. Europe's STOXX banking index fell more than 4%, set for its biggest one-day slide since early June, with declines for most major lenders, including HSBC, down 4.5%, and …

Markets close sharply lower as bank stocks take a beating
2 years ago

Markets close sharply lower as bank stocks take a beating

CNN  

New York CNN — Fear overtook Wall Street Thursday after SVB Financial Group, a bank that lends primarily to tech companies, told investors it had to sell $1.75 billion in shares at a loss in order to cover rapidly declining customer deposits. That triggered losses across the banking sector and concern that the Federal Reserve’s interest rate hikes are preventing …

JPMorgan CEO Dimon warns of recession in 6 to 9 months – CNBC
2 years, 5 months ago

JPMorgan CEO Dimon warns of recession in 6 to 9 months – CNBC

Al Jazeera  

Runaway inflation, big interest rates hikes, Russian invasion of Ukraine are among indicators of a potential recession, he said. JPMorgan Chase & Co Chief Executive Jamie Dimon has said in an interview with CNBC that the United States and the global economy could tip into a recession by the middle of the next year. Runaway inflation, big interest rates hikes, …

Suspense builds on Wall Street over expiring Covid relief for big banks
4 years ago

Suspense builds on Wall Street over expiring Covid relief for big banks

CNN  

New York CNN Business — With the economy crashing and markets in chaos last spring, the Federal Reserve handed out get out of jail free cards to America’s big banks. The first “tantrum” he’s alluding to happened in 2013, when Treasury yields spiked after the Fed signaled it would slow bond purchases, causing Wall Street to panic. “Liquidity conditions in …

Stock market today: Live updates
5 years ago

Stock market today: Live updates

CNN  

Bank regulators are urging financial institutions to work with borrowers in communities hurt by the coronavirus pandemic. In a joint statement released by federal and state regulators Monday evening, the group said that “financial institutions should work constructively with borrowers and other customers in affected communities.” The regulators said “prudent efforts” to provide financial relief to stressed borrowers will not …

If cracks are forming in the US economy, banks didn’t get the memo
5 years, 8 months ago

If cracks are forming in the US economy, banks didn’t get the memo

CNN  

New York CNN Business — If a recession is brewing in the United States economy, it will come as a surprise to the nation’s largest banks. The industry is on very solid footing with credit issues low and capital high.” Christopher Marinac, director of research at Janney Montgomery Scott Bank of America boss Brian Moynihan saidon an earnings call that …

What have we learned from the bank crash?
11 years, 6 months ago

What have we learned from the bank crash?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. While the amount of capital held by the six …

Bank: deposits 'diverted to stocks'
17 years, 10 months ago

Bank: deposits 'diverted to stocks'

China Daily  

By Xin Zhiming and Wang Zhenghua Updated: 2007-05-14 06:58 Reduced bank deposits by Chinese households suggest that a large amount of money is being invested in the capital market, according to the central bank. The high growth rate of M1 a narrow measure of money supply that includes cash and demand deposits plus diminishing household deposits suggests Chinese households are …

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