A bank consortium launched a $610 million first-lien term loan and a $140 million second-lien term loan for BNY ConvergEx Group Wednesday.
The banks are Bank of America Corp.'s Merrill Lynch unit, Goldman Sachs Group Inc., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley.
BNY, a provider of agency trading and investment technology, plans to use the proceeds to refinance debt it took on in 2006 to fund its spin-off from what was then Bank of New York Co.
The bank is pushing wealth managers to use artificial intelligence embedded in Salesforce and Zoom to plan, summarize and follow up on client meetings.
The systemic risks posed by stablecoins on public blockchains go further than deposit flight and market dislocation — there's also technology risk. But Noelle Acheson argues that these should be incorporated into guardrails rather than used to stop progress.
Diligence Capital Management's proposals and board nominations for the beleaguered Eagle Bancorp won't be put before shareholders. But the activist investor isn't giving up the fight.
A recent executive order encouraging changes to the Consumer Financial Protection Bureau's Ability-To-Repay and Qualified Mortgage rules are adding to a packed agenda at a time when the agency has lost a third of its staff.
Bank of Montreal has introduced a tokenized cash and deposit platform, while the London-based Monument is partnering with the Midnight Foundation's distributed ledger. Also, Starling Bank's AI play, stablecoins gain ground in APAC and Africa and more in the American Banker global payments and fintech roundup.
In a new legislative package offered Wednesday, House lawmakers halved the deposit insurance limit offered in earlier deposit insurance reform bills coming from the Senate.
