Page 4 - Us Banks

SVB collapse: Large domestic deposits cushion Indian banks, say analysts

Mark-to-market impact on Indian banks seen limited thanks to HTM provisioning

With US govt action, looming risks to Indian startups have passed: MoS IT

Minister of State for IT Rajeev Chandrasekhar on Monday said that with US Government's latest action on Silicon Valley Bank, the looming risks to Indian startups have passed, as he added that the learning for Indian startups from this crisis is to trust Indian banking system more. The Biden administration has announced that depositors of the failed Silicon Valley Bank will have access to their money from Monday. Chandrasekhar tweeted, "With this US govt action, looming risks to Indian Startups have passed. Learning for Indian Startups from this crisis - trust Indian banking system more." He added: "Thank u to PM @narendramodiji, FM @nsitharaman n @RBI for their continuous leadership n monitoring durng this." The failure of Silicon Valley Bank last week left many startups, tech companies, entrepreneurs and VC funds nervous and jittery, and the US Government's latest statement has given hope to depositors who had accounts with the crisis-ridden bank. California-based Silicon Valley

All Silicon Valley Bank deposits safe, new backstop for banks created: US

SVB's collapse into FDIC receivership - the second-largest US bank failure in history behind Washington Mutual in 2008 - came suddenly on Friday, following a frenetic couple of days

SVB depositors will have access to their money starting Monday: Yellen

In a step aimed at protecting the US economy by strengthening public confidence in the country's banking system, the Biden administration announced that depositors of the Silicon Valley Bank will have access to their money from Monday. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, and consulting with the president, Treasury Secretary Janet Yellen on Sunday approved actions enabling the FDIC to complete its resolution of the Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors, an official statement said. The depositors will have access to all their money starting Monday, that is, March 13. No losses associated with the resolution of the Silicon Valley Bank (SVB) will be borne by the taxpayer, said a joint statement issued by the Department of the Treasury, Federal Reserve, and FDIC. We are also announcing a similar systemic risk exception for Signature Bank, New Yor

Silicon Valley Bank rocks California as founders join Napa vintners in fear

From wealthy founders to Napa vineyard owners, clients were scrambling to secure funds or find out basic information about what would happen to their deposits

Six big banks of Wall Street score $1 trillion of profit in a decade

While much of the world's attention was focused on the riches minted by Silicon Valley, banks were gaining momentum

Banks that lent to Elon Musk to book Twitter loan losses, avoid hits

Besides Morgan Stanley, the syndicate includes Bank of America Corp, Barclays Plc, Mitsubishi UFJ Financial Group Inc, BNP Paribas SA, Mizuho Financial Group Inc and Societe Generale SA

BofA beats Q3 profit estimates on gains from higher interest rates

The second-largest US bank's consumer business reported a 12% jump in revenue, helped by higher balances and a rise in interest rates and a 9% jump in combined credit and debit card spend

JPMorgan profit down 17% as sluggish dealmaking, loan loss reserves weigh

JPMorgan's profit for the quarter ended Sept. 30 came in at $9.74 billion, or $3.12 per share, compared with $11.69 billion, or $3.74 per share, a year earlier

US economy may be entering 'new normal' after pandemic, says Jerome Powell

Powell and his colleagues are moving rapidly to reduce the highest inflation in nearly 40 years after being slow to spot the threat of broadening price pressures.

Top US banks hike lending rates to highest since 2008; Lira at record low

The US central bank has remained steadfast in its decision to keep raising rates until data shows a sustained pullback in consumer prices

US bank CEOs grilled by Congress over economy, consumer protections, Russia

JPMorgan Chase's Jamie Dimon said consumers continued to be in 'rather good shape', but there is a chance of a mild recession which could be worse depending on the course of Russia's war in Ukraine

'Most vulnerable' emerging markets now face euro recession risk

Traders are more bearish on the Hungarian forint, Polish zloty and Czech koruna than any other developing-nation currency except for Russia's ruble and the Turkish lira

Citigroup shares surge over 10% on profit beat, core business strength

The bank's profit fell to $4.5 billion, or $2.19 a share, in the quarter ended June 30, from $6.2 billion, or $2.85 a share, a year earlier

Federal Reserve says US banks can weather severe downturn comfortably

Fed said the 34 lenders it oversees would suffer combined losses of $612 bn under a severe downturn

Profits at large global banks set to fall sharply due to M&A slowdown

(Reuters) - Profits at the world's biggest banks are expected to fall for the first time in seven quarters, dragged down mainly by a slowdown in mergers and acquisitions (M&A) activity and a decline in equity and debt issuance deals.

Goldman Sachs traders deliver surprise surge in firm's best year ever

The Covid-19 pandemic has given a massive boost to banks' trading and dealmaking operations

US banks beat profit estimates on economic rebound, deals bonanza

JPMorgan Chase & Co, Citigroup, Wells Fargo & Co and Bank of America Corp reported a combined profit of $28.7 billion for the third quarter, beating analyst estimates

Top US banks smash second quarter profit estimates on rebounding economy

WASHINGTON (Reuters) - The four largest U.S. consumer banks posted blockbuster second-quarter results this week, after pandemic loan losses failed to materialize and the U.S. economy began roaring back to life.

Jamie Dimon succession race has two women ahead of pack at JP Morgan

Marianne Lake and Jennifer Piepszak have been named as co-heads of consumer and community banking business.