Europe’s Landmark Test of Banks’ Resilience to Climate Risk Is Softer Than Expected

Europe’s landmark test of banks’ resilience to global warming was far softer than many lenders had expected, according to people familiar with the matter. Even the toughest hypothetical scenarios in the European Central Bank’s climate stress test didn’t result in losses that would make a meaningful dent in capital buffers, said officials at six big … Read more

‘All eyes’ on interest rates as banks prepare to report earnings

Community banks’ second-quarter results are expected to show increased interest income and profits as the impact of aggressive Federal Reserve rate hikes becomes evident. But it’s not all good news — as rates climb further, depositors will begin to demand higher interest payments as well, eventually driving up banks’ costs. This would come on top of … Read more

Banks Get Burned by Risky Debt, Imperiling Buyout Activity

By Laura Cooper July 3, 2022 9:03 am ET Listen to article (2 minutes) Investment banks are facing big losses on leveraged buyouts they agreed to finance before markets soured, further chilling the outlook for deal activity. Bank of America Credit Suisse Group and Goldman Sachs Group Inc. are among the banks that could collectively … Read more

Gold ends worst quarter since Q1 2021 on central banks’ hawkish talk (NYSEARCA:GLD)

hernan4429/iStock via Getty Images Gold futures fell for a fourth straight session Thursday, sending prices to their lowest finish since early February and wrapping up the metal’s worst quarterly performance since Q1 2021. Comex gold (XAUUSD:CUR) for August delivery closed -0.6% to $1,807.30/oz, down 2.2% for the month and 7.5% for the quarter, as the … Read more

small finance banks: Will bearish market conditions prove roadblock in AU SFB’s solid journey?

The lending base of SFBs and private banks differs significantly. The Reserve Bank of India (RBI) has limited the amount of money that SFBs can lend; private banks have no such restrictions. Synopsis AU Small Finance Bank, Ujjivan Small Finance Bank, Equitas Small Finance Bank and Suryoday Small Finance Bank are the four small finance … Read more

JPMorgan, Citigroup to keep dividends flat as other banks raise payouts

JPMorgan Chase and Citigroup intend to keep their dividends unchanged next quarter, splitting with several other large banks that are raising their payouts to shareholders following Federal Reserve stress tests. The two megabanks’ more measured approach to capital distribution is not entirely surprising, given expectations that their regulatory capital minimums are set to go up … Read more

Gallagher Re Launches Climate Risk Resilience Practice, Led by World Bank’s Bavandi

Gallagher Re, the global reinsurance broker, announced it has launched a global practice focusing on public sector and climate resilience solutions, with responsibility for developing Gallagher Re’s core offering globally and driving profitability as well as developmental impact. Antoine Bavandi Antoine Bavandi has been appointed to the newly created role of global head of Public … Read more

Four big U.S. banks raise dividends after stress tests By Reuters

2/2 © Reuters. A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri 2/2 By Carolina Mandl and Michelle Price NEW YORK/WASHINGTON (Reuters) – Morgan Stanley (NYSE:), Goldman Sachs (NYSE:), Bank of America (NYSE:) and Wells Fargo (NYSE:) hiked their … Read more

Wall Street Banks Quietly Test Cyber Defenses at Treasury’s Direction

New You can now listen to Insurance Journal articles! With global tensions rising over Ukraine, the cutthroat competitiveness of the US financial sector is yielding to partnership over the conviction that a cyberattack against even a group of minor banks – or a third-party service provider – could imperil everyone in a highly connected system. … Read more

Chinese banks lend Pakistan $2.3bn to avert foreign exchange crisis

A consortium of Chinese state banks has lent $2.3bn to Pakistan to help the country stave off a foreign payments crisis, finance minister Miftah Ismail said on Friday. Confirmation of the support from China, a close economic and military ally of Pakistan, came on the same day Islamabad announced a one-off 10 per cent ‘super … Read more