Banking

The Providence, Rhode Island, expects NII to decline 3% for the second consecutive quarter now that it's paying more to prevent a further slide in deposits and tightening lending standards in anticipation of a mild recession.

Reacting to a sharp uptick in charge-offs, Synchrony more than doubled its provision for credit losses during the first quarter to account for further shocks along with healthy loan-portfolio growth as more consumers revolve credit card balances.

During its first-quarter earnings call, the Detroit-based company's CEO said it is seeking to "protect the house" by dialing back the pace of car-loan originations and seeking to attract more super-prime borrowers.

Executives at the Minneapolis bank responded to a research report that highlighted the decline in a key capital ratio after an acquisition last year. They don't plan to raise capital but aim to generate more of it from earnings in coming quarters.

Executives and financial strategists are considering derivatives as a hedge against rising interest rates.

The Phoenix bank provided behind-the-scenes details of the fallout from March's banking crisis, when it lost $8 billion of deposits in a single day. The company's share price closed up 24% on Wednesday after executives vowed to reassess its capital and liquidity strategy.

The Gardner-based institution hired Mark Hettinger, who worked the past 19 years at First Alliance Credit Union, as its new chief executive.

The head of the Council of Federal Home Loan Banks argues that the special lien status of Home Loan bank advances, created by legislation in the 1980s, is largely irrelevant in today's marketplace.

The Dallas-based bank, whose shares have slumped 19% this year, laid off the staff last week, according to a spokesperson.

Morgan Stanley's investment bank and its giant wealth unit surpassed analysts' expectations in the first quarter even as profits fell from a year earlier, dragged down by a drop-off in dealmaking and a jump in loan-loss provisions.

With once-in-a-generation levels of inflation whittling away at their savings, Americans are once again beginning to fall behind on payments, bank earnings show.

After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.

The FDIC seems poised to let small banks off the hook for replenishing the deposit insurance fund after Silicon Valley Bank and Signature Bank's failures last month. But regulators should remember that small banks can still pose systemic risks.

The Federal Deposit Insurance Corp. said it will propose a special assessment to cover losses from Silicon Valley Bank and Signature Bank in May, and noted that bank deposit outflows are largely uninsured.

In an open letter to National Credit Union Administration Chairman Todd Harper, NAFCU's B. Dan Berger calls for the 89-year-old interest rate ceiling to be reconsidered.

As more potential buyers began inquiring about the availability of QCash, WSECU decided the time was right to offload the credit union service organization it launched in 2015.

Fixed-income trading revenue declined 17% in the first quarter, contributing to firmwide revenue that fell short of analysts' estimates. Overall net income dropped 19% to $3.09 billion.