Banking & Capital Markets

Regulation

Regulator Hits Wells Fargo With $250M Fine

The OCC says deficiencies in a Wells Fargo loan modification program constituted “reckless unsafe or unsound practices."

Matthew Heller
September 10, 2021
Risk

Fed Announces Capital Buffers for Big Banks

Based on the latest stress test results, Goldman Sachs is required to have the largest buffer against losses, followed by Morgan Stanley.
Credit

Square Debuts Small Business Banking Platform

The suite of financial products are designed to help small business owners manage their cash flow.
Regulation

Fed Clears Banks to Make Payouts Without Limits

The Fed's three stress tests over the past year "have confirmed that the banking system is strongly positioned to support the ongoing recovery."
Credit

Square Commences Operations as an Industrial Bank

The fintech company's CFO Amrita Ahuja said bringing banking capability in-house will enable the company to “operate more nimbly.”
Credit

Rare Outage Takes Fed Payment Systems Offline

Fedwire and FedACH were among the key systems affected by the outage, which the Fed blamed on an "operational error."
Credit

Bank Profits Rise 9% to $59.9B in 4th Quarter

“Banks remained resilient in fourth quarter 2020, consistent with the improving economic outlook,” the FDIC says.
Regulation

Fed Nixes Further Capital Relief for Banks

The Fed's decision means banks can no longer exclude Treasury bonds and deposits held at the central bank from their supplementary leverage ratio.
Regulation

Fed Lifts Freeze on Bank Share Repurchases

The Fed voted 4-1 to ease restrictions on buybacks and dividends it had imposed to ensure banks preserved capital amid the coronavirus pandemic.
Credit

Banks Prepare for ‘Big Bang’ Switch From LIBOR

The SOFR referencing rate is estimated to cover interest rate swaps on more than $80 trillion worth of notional debt.
M&A

Morgan Stanley Buys Asset Manager Eaton Vance

The $7 billion deal will advance Morgan Stanley's push into investment management as it shifts away from trading.
Risk Management

Citigroup Fined $400M Over Risk System Defects

“The public rebuke marks a major escalation of regulators’ efforts to get Citigroup to fix its risk systems."
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