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Federal Reserve Board Gov. Michelle Bowman said current capital requirements and application processes are driving consolidation and boosting shadow banking. 

The company is adding fixed income securities to its offering while interest rates rise and the U.S. equities market continues to modernize

The Pittsburgh bank grew its deposits in the first quarter, even as the failure of two other regionals sparked outflows across the industry. But PNC executives warned Friday that rising funding costs could continue to eat into its net interest margin.

Regulators had their priorities backward when it came to overseeing SVB and allowed an obvious danger to go unmitigated.

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.

Federal Reserve Board Gov. Christopher Waller endorsed the idea that more bank runs would have occurred had regulators not intervened.

More than $40 billion flowed into the firm's cash-management products in March amid a "crisis of confidence" in the health of regional banks, according to CEO Larry Fink.

Truist Financial completes sale of insurance division, loses a regional president to Huntington Bancshares, a group of Fiserv clients will join Federal Reserve's real-time payments network, FedNow, and more in this week's banking news roundup.

"The bar is being set by consumer interactions," says Alisa Ellis, who is helping lead modernization efforts at the financial institution.

Revenue from fixed-income, currencies and commodities trading unexpectedly rose 4% to $4.5 billion in the first quarter, as clients reacted to changing interest rates, the company says. Net income rose 7% to $4.6 billion.

The lender had $2.38 trillion of deposits at the end of March, compared with $2.34 trillion three months earlier. The influx more than offset drains from inflation and customers' seeking higher-yielding alternatives.

The firm reported $13.3 billion in NII in the first three months of the year, up 45% from a year earlier and more than the 42% jump analysts expected. That gain helped counter a surge in provisions for souring loans.

William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.

The boutique fitness industry is seeing strong growth, powered by a mix of payment tech and software that enables studio owners to accept onsite and remote transactions via mobile apps, QR codes and online.

Head of technology Saul Van Beurden will take over for Mary Mack, who plans to retire this summer. The appointment reflects the ever-increasing importance of digital channels in retail banking.

Startups were left reeling after SVB's failure. But there are challenges to serving young companies.

The nascent proposal would reportedly suspend the debt ceiling until May 2024, a move that would put the issue at the center of the presidential campaign.

With the acquisition, the Lake City, Florida-based community bank will nab a consumer-direct platform and expand its footprint in the Midwest.

Lofty fertilizer and equipment costs are forecast to cut into profits this year. Farmers are expected to seek loans to cover higher expenses, but bankers are likely to be cautious in granting credit given recessionary pressures.

The amount of U.S. junk bonds has fallen 11% from its peak in October 2021 to $1.41 trillion, according to a Bloomberg index tracking corporate high-yield debt.