Finance

Toronto-Dominion Bank Chief Executive Bharat Masrani said additional share repurchases would be a possible use of the lender’s excess capital if it doesn’t deploy those funds in a major acquisition.

The payout will help the Delaware bank recover legal costs that stemmed from its 2010 purchase of Christiana Bank & Trust. It expects a 23-cent boost to earnings per share in the most recently completed quarter.

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

On Sep. 30, 2021. Dollars in thousands.

The Secured Overnight Financing Rate has benefited — amid the phaseout of Libor — from positive comments by regulators. Is a multirate environment, which some banks would prefer, still possible?

Germany’s finance watchdog fined Deutsche Bank 8.66 million euros ($9.8 million) over its handling of submissions for Euribor, a reference rate at the heart of a scandal that rocked the industry.

Analysts expect loan growth and higher interest rates to drive up equity prices next year, even in the face of the omicron variant and other risks.

Average per-loan charges last year were little changed despite the addition of a new temporary fee for refinancing. Those for loan-to-value ratios above 80%, home-purchase financing and adjustable-rate mortgages only rose slightly.

Standard Chartered has been handed a record fine by the U.K.’s top banking regulator after a spreadsheet error resulted in the emerging markets-focused lender overestimating its access to U.S. dollar funding.

Just three months ago, U.S. banks were still using the expiring benchmark rate for the vast majority of their new loans. But regulators said Friday the transition to alternative rates has accelerated ahead of a year-end cutoff.

The Alabama bank is buying Clearsight Advisors to add to its booming capital markets division.

The funding is tied for the second-largest crypto- or blockchain-related venture capital deal of the year with FTX Trading’s $1 billion round in July, after Robinhood Markets' $3.4 billion raise in January, according to PitchBook data.

The second year of the pandemic unleashed unprecedented exogenous challenges for financial companies heading into 2022. What core trends will shape the industry moving forward?

With prices increasing faster than they have since the 1990s, the Federal Reserve appears poised to tighten monetary policy. Top industry executives are worried about the chances of either a recession or runaway inflation, depending on whether the central bank moves too quickly or too slowly.

Lawmakers approved legislation designed to protect trillions of dollars of assets when the London interbank offered rate expires.

Figure Technologies, the startup co-founded by Mike Cagney, created a platform to help private companies raise and trade equity using its blockchain technology.

Investment activity that takes place outside the banking system requires a new, broad-based set of global regulations to tackle inherent instability, the Bank for International Settlements said.

Bank of Montreal’s heavy focus on commercial lending is paying off as businesses in the U.S. and Canada ramp up borrowing. 

Canadian Imperial Bank of Commerce is having a harder time keeping costs in check as inflation picks up and the lender invests in its domestic consumer franchise.

Toronto-Dominion Bank’s Canadian operation is getting a boost from a rebound in consumer spending and the continued strength of the country’s housing market. The company’s U.S. retail operations haven’t gained the same momentum as the Canadian division.