SAN DIMAS, Calif. -
S&P said the ratings are based on WesCorp's strong liquidity, low credit risk profile and adequate capital, noting that while the ratings agency is concerned about the current level of unrealized market losses, WesCorp's strong liquidity position and the continued performance of the pools backing the securities tempered that concern. WesCorp also receives ratings from Moody's Investors Service in addition to S&P.
For info: www.wescorp.org.
A rule banning bank examiners from using reputational risk in their examinations includes an exception for operational risks — another notoriously unquantifiable category of risk. Experts say the concession suggests the attempt to carve subjectivity out of bank examination may amount to a relabeling exercise.
A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
Several major financial institutions last year increased their spending on measures to protect top executives, according to public filings. The moves followed the killing of UnitedHealthcare CEO Brian Thompson in December 2024.
The first U.S. bank to offer an exchange-traded product tied to bitcoin saw $34 million in trading on the first day.
Oil rights can be a surprisingly illiquid asset. A fintech called Frontlands is hoping to change that by offering a credit card for the owners of oil wells and other natural resources.
The fintech rolled out Intelligent Money Movement, a treasury service that combines payments, liquidity management and disbursements as it looks to capitalize on its multiple banking licenses.
