The problems with Citigroup’s so-called living will, which details how it would be unwound in the event of bankruptcy, are manageable but could be bothersome for its executives, according to J.P.Morgan.
As Credit Suisse fades into history following its takeover by UBS last year, global banks are expanding in Switzerland to take advantage of companies’ desire to spread their business.
Big U.S. lenders are expected to show they have ample capital to weather any renewed turmoil during this week’s Federal Reserve health checks, but will be conservative on investor payouts amid economic and regulatory uncertainties, analysts said.
A Moscow court has sided with dominant Russian lender Sberbank in the bank’s efforts to recover loans totalling around $138.6 million from its former British subsidiary, court filings showed on Monday.
The U.S. Federal Reserve is due to release the results of its annual bank health checks on Wednesday at 4:30 p.m. ET (2030 GMT). Under the “stress test” exercise, the Fed tests big banks’ balance sheets against a hypothetical scenario of a severe economic downturn, the elements of which change annually.
Insurance group Prudential plans a $2 billion share buyback programme which will be completed no later than mid-2026, the company said in a statement on Sunday.
U.S. bank regulators said four major banks had shortcomings in their “living wills” – or plans that outline how they could be safely wound down if they went bankrupt or came under pressure.
U.S. bank regulators ordered Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase on Friday to bolster plans for how they could be safely resolved in bankruptcy, and FDIC escalated its concerns about Citi’s blueprint.
Germany has fined Citigroup nearly 13 million euros ($13.94 million) for lapses in its trading system controls, the nation’s bank regulator said on Thursday, as its consumer protection division imposed its largest penalty ever.
The potential impact of an alleged spying case on Spain’s second-biggest bank BBVA is difficult to estimate in terms of fines or reputational damage, the head of Spain’s stock market supervisor, Rodrigo Buenaventura, said on Friday.
