Commercial banking

The Spanish lender, aiming to become a leader among second-tier lenders in the U.S., expects to increase the number of bankers at its securities and advisory unit, its head of corporate and investment banking said.

Wells Fargo nabbed a spot among the top 10 advisors on mergers and acquisitions last year, a first for the firm as it ramps up its investment bank under Chief Executive Charlie Scharf.

With prodding from their regulators, U.S. banks made some progress on assessing climate risk, but did not move as quickly as activists wanted. At the same time, new federal support for clean energy provided opportunities for lenders.

This year saw far more abandoned deals than the previous one. The list includes State Street's abandoned purchase of Brown Brothers Harriman Investor Services and FVCBancorp's failed merger with Blue Ridge Bankshares.

Banks saw dealflow weaken in 2022, both for deals on which they advised and for their own M&A involving other banks and fintech companies.

The Paycheck Protection Program proved successful in providing small-business owners with funds to keep workers employed — but it was also a magnet for criminals. Here is a rundown of fraud probes, prosecutions and potential long-term consequences for commercial lending.

The consensus calls for shrinking collateralized loan obligation volume in 2023, but rewards are said to outweigh the risks.

After years of deliberation and controversy, 2022 will be remembered as the year the global financial system replaced the Libor interest rate benchmark, the last vestiges of which sunset in 2023.

JPMorgan Chase is upping its climate ambitions, announcing a slew of new emissions reductions targets for its financing to carbon-intensive businesses, including airlines and cement manufacturers.

The state's Department of Financial Services issued proposed guidelines on how banks and mortgage lenders should manage climate-related risks. But the guidance was quickly slammed by a trade group representing community banks.

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.

Legislation to open banking services to marijuana businesses was left out of a must-pass government funding package, ending a year-end effort to move it to President Biden's desk, a person familiar with the decision said.

A carbon-credit transaction network developed by nine banks including Canadian Imperial Bank of Commerce and UBS Group is a step closer to launching early next year after completing a series of pilot trades.

A hard-fought battle between Citigroup and creditors of Revlon over an epic blunder in which the bank accidentally sent the lenders almost a billion dollars was finally capped with a legal pronouncement: Case dismissed.

Texas lawmakers pressed finance industry executives they summoned to a remote corner of the state for a hearing Thursday, questioning whether their environmental, social and governance policies are hindering state pension investments.

HSBC Holdings will no longer finance new oil and gas fields or related infrastructure in a move that climate activists say puts it ahead of many peers in addressing global warming.

In a tight job market, banks are exploring new ways to find the employees they need.

Citigroup and creditors of Revlon fighting over an accidental $900 million payment the bank made two years ago said they are close to resolving their litigation over the mistake.

Across Wall Street, this year's bleak expectations for banker bonuses are rapidly proving true, as a slump in dealmaking ends the industry's war for talent and firms regain the upper hand in setting pay.