JPMorgan Chase & Co is asking all its managing directors to work from office five days a week, the bank said in an memo that was seen by Reuters on Wednesday.
Bank of England Governor Andrew Bailey said bank reforms enacted after the global financial crisis of 2007-09 worked during the recent banking turmoil, but there were questions about whether banks should set aside bigger cash buffers in future.
Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, can not be overturned.
Euro zone banks bolstered their capital buffers and cut their bad debts in the final quarter of 2022, while higher interest rates boosted lending margins, European Central Bank data showed on Wednesday.
Italian residents’ deposits with domestic banks fell in February for a fourth month, hitting their lowest level in just over two years as rising interest rates and high inflation prompted savers to seek remuneration for their cash, data showed.
The G20’s financial watchdog on Wednesday said rules it introduced after the global financial crisis had prevented contagion from the latest banking sector turmoil, but it would remain vigilant as the outlook has become more challenging.
Banks that contributed the bulk of $30 billion in deposits to First Republic Bank plan to set aside about $100 million each in first-quarter earnings in case of potential losses, two sources with direct knowledge of the matter said.
Goldman Sachs Group Inc said on Wednesday it is launching its transaction banking business for corporate clients in Japan, as the U.S. investment bank expands in the world’s third-largest economy.
