US banking heavyweights reaped windfalls from higher interest payments in the first quarter, brushing off a crisis prompted by the collapse of two regional lenders and setting aside billions of dollars in case loans turn sour as the economic outlook dims.
DEPOSITS at US commercial banks rose in early April in a renewed sign of confidence in the banking sector after massive deposit outflows following last month’s failure of two large regional banks.
THE Federal Reserve’s Board of Governors on Friday (Apr 14) said it has approved UBS Group’s acquisition of the US subsidiaries of Credit Suisse, clearing another major hurdle for the completion of the Swiss-brokered rescue deal.
CITIGROUP’S first-quarter profit beat Wall Street expectations on Friday (Apr 14) as it earned more from borrowers paying higher interest on loans, benefiting from a tighter monetary policy by the Federal Reserve.
WELLS Fargo on Friday (Apr 14) beat profit expectations for the first quarter as the lender earned more from higher interest rates following the US Federal Reserve’s (Fed) tighter monetary policy.
JPMORGAN’S profit climbed in the first quarter as higher interest rates boosted its consumer business in a period that saw two of the biggest banking failures in US history.
In this issue: Banks wooing small firms in sustainable finance isn’t only about the interest, while poor countries might need a break to meet climate goals.
MITSUBISHI UFJ Financial Group’s (MUFG) wealthy clients lost more than US$700 million on Credit Suisse Group’s riskiest bonds purchased through the Japanese bank’s brokerage venture with Morgan Stanley, according to people familiar with the matter.
CHINA’S central bank is expected to inject more liquidity when rolling over maturing medium-term policy loans for a fifth straight month on Monday, while keeping the interest rate unchanged, a Reuters survey of traders and analysts showed.
CHINA reiterated it is willing to implement a debt disposal framework with other countries, People’s Bank of China Governor Yi Gang said in remarks published on Friday, as it haggles with the International Monetary Fund over development financing.
