Finance

The final rule also orders the government-sponsored enterprises to give advance notice of new activities to determine if they are subject to these procedures.

Recent clashes over how much investors should get paid when borrowers switch to a new benchmark are a small part of a much larger struggle by global regulators to shift markets away from the scandal-tainted London interbank offered rate.

Bible spent 14 years at BB&T and Truist before announcing his retirement earlier this year. He will replace Darren King, who will remain at M&T in a new role.

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

Kearny Financial is partially restructuring its balance sheet in response to a problem that many banks are facing. The bank's actions should result in a sizeable income boost once they're fully phased in, an analyst said.

Canada's banking regulator said the country's mortgage stress test has helped prevent widespread defaults as interest rates rose this year, rebuffing calls to weaken or eliminate the measure amid a surge in homebuying costs.

The challenger bank for Black and Latino individuals introduced Elevate, a membership-only tier that includes access to private clubhouses and networking aimed at people of color.

Executives at the Minneapolis company said Wednesday that they expect earnings-per-share accretion to be higher than they previously anticipated. But their estimate for merger-related expenses also rose.

The Dallas-based company is expanding in the Southeast and the Mountain West, and overhauling its digital systems, as part of a plan that executives say will pay off over a two- to five-year period.

Banks are starting to have a tougher time obtaining funds in the financial system as the Federal Reserve shrinks its balance sheet and hikes interest rates, leaving analysts searching for any signs that the strains are approaching the magnitude of past credit crunches.