Banking & Capital Markets

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.

Matthew Heller
December 21, 2020
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."
Mobile

Nio Trades Down After Upsized Equity Offering Prices at Discount

With the offering, the Chinese electric vehicle company expects its cash reserves to exceed $2.9 billion.
Financial Performance

Ally Financial’s Profit Drops by More Than Half

“We saw steady improvement throughout the [second] quarter as shelter-in-place orders eased and dealers quickly adapted to the COVID environment."
Regulation

Fed Clamps Down on Bank Capital Distributions

The regulator is seeking to “ensure large banks remain resilient despite the economic uncertainty" from the coronavirus pandemic.
Credit & Capital

Banks Wary of Fed’s Main Street Loan Program

Loan officers cited the financial condition of borrowers and overly restrictive terms for not approving loans under the key pandemic relief plan.
Credit

U.S. Banks’ Profits Sink 69% to $18.5B in Q1

Banks diverted earnings to reserves for "newly risky loans as the coronavirus tanked credit health and plunged the U.S. into a recession."
Credit

W.Va. Bank Fails After Years of Financial Woes

First State Bank had "experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015,” the FDIC says.
Regulation

Fed Offers Liquidity to Foreign Central Banks

The new FIMA Repo Facility is the Fed's latest move to relieve stresses in financial markets resulting from the coronavirus crisis.
Regulation

Fed Loosens Examination Reins on Banks

The Fed is reducing its focus on exams to “minimize disruption and burden" on banks during the coronavirus crisis.
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