Asia-Pacific banks are on the rise while deposit outflows shrink US banks NEW YORK, April 30, 2023 /PRNewswire/ — Chinese banks extended their dominance as the world’s largest lenders in 2022 despite rate hikes and slowing economic growth while their global peers saw declines in balance sheets, according to the […]
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London CNN — The International Monetary Fund warned this week of “vulnerabilities” among so-called non-bank financial institutions, saying global financial stability could hinge on their resilience. The Bank of England called attention to the same issue last month. And global investors surveyed by Bank of America in the middle of […]
It is “unlikely” that European banks will undergo anything as serious as in 2008, according to economists. Peter Macdiarmid / Staff / Getty Images LONDON — Turbulence across the banking sector has prompted the question of whether we are teetering on the edge of another financial crash, 2008-style. But a […]
U.S. stocks rallied Tuesday as crucial inflation data came in line with expectations. Regional bank stocks surged, clawing back some of their losses in the wake of the Silicon Valley Bank fallout. The S&P 500 (^GSPC) added 1.3%, while the Dow Jones Industrial Average (^DJI) advanced 1%. Contracts on the technology-heavy […]
The Federal Reserve offered new details Tuesday on how it will test the resilience of banks under different climate scenarios. This news comes less than a week after Fed Chair Powell said the central bank is not a climate policymaker, but does have “narrow responsibilities” to oversee risks from climate […]
U.S. stocks closed mixed Tuesday as a shortened but busy week packed with corporate earnings got underway on Wall Street. The Dow Jones Industrial Average (^DJI) shed nearly 400 points, or around 1.1%, weighed down by bank stocks after Goldman Sachs (GS) posted its largest earnings miss in a decade. […]
Transaction creates a strong foundation to support CIT’s continued growth and expanded services and offerings CHICAGO and WILMINGTON, Del., Dec. 19, 2022 /PRNewswire/ — Wilmington Trust, N.A. (“Wilmington Trust”), a leader in wealth management and corporate and institutional services and a wholly-owned subsidiary of M&T Bank Corporation (“M&T”) (NYSE: MTB), […]
Discussions, articles, and reports about the AI opportunity across the financial services industry continue to proliferate amid considerable hype around the technology, and for good reason: The aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023, with the front and middle office accounting […]
Books on this topic China Information/SourcesChina Finance / Banking What people outside China say? What is the average financial intelligence of Chinese people? (link to […]