U.S. regional banks will probably stockpile more rainy-day funds and stay conservative on stock buybacks as losses from commercial real estate (CRE) loans are expected to pressure their earnings, analysts said.
AXA IM Alts, the alternative investment arm of French insurer AXA , has raised $2.5 billion to pursue deals in the fast-growing market for bank risk transfers, as more lenders look to cash in on rising investor interest in their loan books.
Asia’s rich and their bankers said they are backing an eventual recovery in China and betting exposure to a region that even in a slowdown is the fastest-growing in the world will pay off.
UK’s Barclays plans a major hiring spree in Asia to expand client assets over the next few years, focusing on the ultra rich and family offices in India and Singapore, Bloomberg News reported on Wednesday, citing a Barclays executive.
Federal Reserve Chair Jerome Powell said on Tuesday central bank independence is a proven and politically popular way to achieve the best possible outcomes for the U.S. economy.
A recent selloff in French stocks triggered by a surprise election has made the country’s equity market interesting again, Fidelity International said on Tuesday.
The Bank of England (BoE) said on Tuesday it would increase scrutiny of risks such as bulk purchase annuities, or insurers taking over company defined benefit pension schemes, a growth area in the sector.
Fifth Third Bancorp will pay $20 million in civil fines and offer redress to 35,000 harmed consumers to settle U.S. Consumer Financial Protection Bureau charges it opened unauthorized accounts and illegally repossessed their cars.
The top U.S. watchdog for consumer financial protection said Tuesday it would fine Ohio lender Fifth Third Bank $20 million for allegedly opening fake customer accounts and forcing auto insurance on consumers who already had coverage, among other allegations.
U.S. Federal Reserve Chair Jerome Powell said on Tuesday that it is the “strongly held” view of the Fed board that bank regulators should seek additional feedback on a contentious effort to hike bank capital, a move that the industry had sought.
