Us Banks

Trump advisers propose shrinking or scrapping key bank regulators

Advisers have asked the nominees under consideration for the FDIC, as well as the Office of the Comptroller of the Currency, if deposit insurance could be absorbed into the Treasury Department

PricingDirect, Alumni tie up for independent valuations of PE securities

Private equity has grown over the past few years, with an increasing number of firms turning to private credit as the main source of financing their deals

European banking industry braces for tougher competition under Trump 2.0

JPMorgan, Goldman Sachs and Morgan Stanley shares all soared while the STOXX Europe 600 Banks index is down more than 1% for the week

Fed poised to cut rates again amid uncertain post-election outlook

No one knows how Tuesday's presidential election will turn out, but the Federal Reserve's move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The presidential contest might still be unresolved when the Fed ends its two-day meeting Thursday afternoon, yet that uncertainty would have no effect on its decision to further reduce its benchmark rate. The Fed's future actions, though, will become more unsettled once a new president and Congress take office in January, particularly if Donald Trump were to win the White House again. Trump's proposals to impose high tariffs on all imports and launch mass deportations of unauthorised immigrants and his threat to intrude on the Fed's normally independent rate decisions could send inflation surging, economists have said. Higher inflation would, in turn, compel the Fed to slow or stop its rate cuts. On Thursday, the Fed's policymakers, led by Chair ..

Goldman Sachs profit beats estimates as bond sales boost investment banking

The Wall Street giant's gains echoed those at rival JPMorgan Chase and Citigroup, which also cashed in on debt and equity offerings as clients' economic confidence improved

Big US banks say consumers are still strong, despite economy fears

Speaking to reporters, Wells Fargo chief financial officer Michael Santomassimo said spending on credit and debit cards, while down a little from earlier this year, was still "quite solid."

JPMorgan Chase profit falls on loan loss provisions in September quarter

Banks are building up stockpiles - which act as a safeguard when borrowers default on their loans - to typical levels as consumers deplete the savings they built up during the pandemic

US banks share fall on warnings of slower-than-anticipated recovery

Bank executives this week softened investor hopes ahead of a widely expected interest rate cut by the Federal Reserve, as well as persistent worries over the economy

Warren Buffett offloads more Bank of America shares; sales top $3.8 bn

The sales began after Bank of America's stock price had risen by about two-thirds since late October, and traded at more than 1.2 times book value

Goldman Sachs appoints co-heads of investment banking business in India

The firm also announced that Sunil Khaitan has joined as head of financing in India. Reuters reported in April that Goldman hired Khaitan from Bank of America

Goldman Sachs targets $2 bn for first Asia-focused pvt equity fund

Only five China-focused private equity funds were raised in the first half this year, totalling $2.2 billion

US regulators fine Citigroup $136 mn for failing to address data issues

The fines are the latest blows for CEO Jane Fraser as she tackles the bank's regulatory failings

Fed mulls rule change that could save biggest US banks billions in capital

Updating those inputs or "coefficients" would reduce the banks' systemic scores and resulting capital surcharge, said the people who declined to be identified discussing private regulatory issues

Big US banks withstand Fed Reserve's commercial real estate shock scenario

The results, released on Wednesday by the Fed, examine whether banks would be able to continue lending to households and businesses in the event of a severe global recession

US bank profits jump 79.5% as large firms shake off failed bank costs

Specifically, the FDIC said bank noninterest expense dropped $22.5 billion in the first quarter, and was the primary cause of the profit boost

US banks seen booking more commercial property losses, loan sales

Buschbom said office loans remain the "biggest pain points" for banks, but he also expects stress in the multifamily sector especially construction loans

Big banks led by Citigroup continue layoffs amid pressure to cut costs

Headcount at Citi declined by 2,000 employees after the third-largest U.S. lender completed a sweeping reorganization aimed at improving profits and reducing management layers

M&T Bank Q1 results: Profit declines by 25% on higher deposit costs

Regional lenders have had to pay higher interest rates on deposits to prevent customers from fleeing to higher-yielding alternatives, such as money market funds

Wells Fargo Q1 results: Profit declines by 7%, beats market estimates

The bank's net interest income (NII) -- the difference between what it earns on loans and pays out for deposits -- fell 8% to $12.23 billion

Citi Q1 results: Profit drops as costs rise on employee severance

Net income fell to $3.4 billion, or $1.58 per share, in the three months ended March 31, the bank said on Friday. That compares with $4.6 billion, or $2.19 per share, a year earlier