Cap Markets

After nine months of stockpiling capital to ensure they could withstand the strains of the pandemic, Canada's biggest banks are facing a new problem: how to spend all that extra money.

If you haven't met Suzanne Shank you should. She is the chair and CEO of Siebert Williams Shank & Co. LLC, the nation’s largest female-and minority-owned, privately held finance firm, which she started with the legendary Muriel Siebert. Join us in an intimate conversation and hear her perspective on some of the most critical issues of the day.

The company is also looking to hire more senior lenders as it expands in markets around Los Angeles and San Diego.

Organizers of the proposed Legacy Bank must raise $25 million before opening.

The Federal Reserve's “midcycle” assessment — conducted in light of the COVID-19 pandemic — said the path of the economic recovery is still uncertain even though the banks that were evaluated maintained adequate capital levels under hypothetical scenarios.

The rule change will allow credit unions to raise more capital to help their members, not line the pockets of investors, as bank lobbyists claim.

First Technology FCU, led by a former banker, stands ready to raise fresh capital by issuing subordinated debt. But first it must wait for a rule change from the National Credit Union Administration that's drawing fierce opposition from the banking industry.

As with most things related to 2020, COVID-19 will be a deciding factor as the Federal Reserve considers whether banks are able to increase their dividends or resume share buybacks.

The regulator is expected to finalize a rule this week allowing credit unions to issue subordinated debt to outside institutional investors. That's bad public policy, the American Bankers Association writes.

Waterfall Bank, which has ties to an investment group that handles affairs for family offices, would be based in the Tampa Bay area.