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Banking

Fed shines light on path to US bank capital relief trades

The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed/File Photo Acquire Licensing RightsOct 2 (Reuters) - A clarification of capital rules by the Federal Reserve may encourage U.S. banks to transfer more of the risk in their loan portfolios to investors, potentially letting them free up capital.The Federal Reserve on Thursday clarified rules around capital treatment of a type of structured debt which involves the sale of credit-linked notes that carry the risk of losses on U.S. bank loan portfolios to investors. The announcement was...
Banking

Morning Bid: US shutdown relief vs mixed China PMIs

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato/File Photo Acquire Licensing RightsOct 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.An early burst of positive sentiment - or relief - after the U.S. Congress agreed a last-minute deal to prevent a partial federal government shutdown could give Asian markets a boost at the open on Monday.But Chinese purchasing managers index data over the weekend, which...
Banking

US CFTC orders 3 major US banks to pay over $50 mln for swap reporting failures

The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Sept 29 (Reuters) - The U.S. Commodity Futures Trading Commission on Friday ordered Goldman Sachs (GS.N), Bank of America (BAC.N) and JPMorgan (JPM.N) to pay a total of over $50 million to settle charges of swap reporting failures and other violations, the agency said.JPMorgan, Bank of America, and Goldman Sachs will pay civil monetary penalties of $15 million, $8 million,...
Banking

Dollar’s smile makes Wall Street frown: McGeever

ORLANDO, Florida, Sept 28 (Reuters) - The 'dollar smile' can be a blessing for Wall Street, or a curse.Right now, with the dollar's boom being driven by a destabilizing surge in U.S. bond yields, heightened uncertainty over global growth and rapidly deteriorating investor sentiment, it is definitely the latter.The gist of the 'dollar smile' theory, floated by currency analyst and now hedge fund manager Stephen Jen 20 years ago, is this: the dollar typically appreciates in good times (booming investor confidence and roaring markets) and bad (times of great financial...
Funds

Dealmakers see rebound after US activity buoys global M&A volumes

NEW YORK, Sept 29 (Reuters) - Mergers and acquisitions activity globally showed few signs of improvement but a rebound in volumes in the United States - the world's biggest investment banking market - gave dealmakers hope of a sustained recovery in the near term.The total quarterly value of M&A fell slightly to $717.4 billion by September 28, according to data from Dealogic, from $738.1 billion last year during the same period.During the third quarter, U.S. dealmaking contributed to a larger-than-usual share of global activity and offset a decline in volumes...
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