Britain’s finance ministry will request a meeting with major lenders to discuss concerns that banks have closed some customer accounts over their political views, after a public spat between former Brexit party leader Nigel Farage and NatWest .
U.S. banking regulators will on Thursday unveil a sweeping proposal for stricter bank capital requirements known as the “Basel III endgame” aimed at ensuring the stability of big banks.
Deteriorating economic growth has pumped up the cost of high-yield debt, increasing the appeal of relatively less-risky fixed-income investments, the head of global fixed income at Europe’s largest asset manager said.
The European Central Bank (ECB) will ask banks to provide weekly liquidity data from September so that it can carry out more frequent checks on their ability to ward off potential shocks as interest rates rise, the ECB supervisory chief said on Saturday.
American Express kept its annual profit forecast unchanged despite a record spending on its credit cards by consumers in the second quarter, disappointing investors and sending its shares down 5% on Friday.
A feared liquidity drainage in the U.S. banking system as the Treasury refills its coffers has not materialised yet, on the contrary reserves increased recently, assuaging some concerns the bond spree could lead to further credit tightening.
Comerica and Huntington Bancshares on Friday sharply cut their interest income growth forecasts for 2023, the latest U.S. banks to sound the alarm over faltering loan demand and a rise in deposit costs.
The U.S. commercial property market has faced severe challenges since the pandemic due to lingering office vacancies, diminished retail activity and higher interest rates. That stress has caused banks and other lenders to tighten their standards for new loans and scrutinize existing ones.
JPMorgan will expand its online bank Chase to Germany and other European Union countries, CEO Jamie Dimon told German newspaper Handelsblatt, a move that increases competition for European rivals in a crowded market.
U.S. banks benefited from higher interest rates in the second-quarter, driving a rally in major indexes, but lower consumer spending, slower loan growth and the increased costs of retaining deposits cloud the outlook for the sector.
