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Signature Bank of New York is pulling back from crypto deposits and has increased borrowings from the Federal Home Loan Bank of New York.
January 17 -
Further interest-rate hikes by the Federal Reserve will force Bank of America to continue repricing deposits, which fell 6.5% in the fourth quarter compared with a year earlier, executives said.
January 13 -
JPMorgan Chase, Wells Fargo and the Bank of New York Mellon all announced plans to restart or increase their buybacks this year after a sharp drop-off in 2022. Bank of America's CEO also said the company is "back in the game."
January 13 -
For the fourth straight quarter, the nation's largest bank boosted its loan-loss reserves, this time setting aside $1.4 billion to cover potentially souring loans. Other big banks made similar moves as the industry braces for a potential recession.
January 13 -
The New York bank, which recorded an 8% increase in expenses last year, projects that they will rise by 5% in 2023. Other megabanks are also contending with higher costs.
January 13 -
Despite the layoffs across the finance industry, there were no signs of a staffing pullback in JPMorgan Chase or Bank of America's fourth-quarter results. Wells Fargo's headcount dropped to 238,698 from 249,435 a year earlier
January 13 -
Net interest income rose 29% in the fourth quarter on higher rates and loan growth, though the increase was smaller than forecast. Trading revenue soared 27%.
January 13 -
Citigroup's fixed-income traders turned in a record-setting finale to 2022 as the bank, under pressure to improve returns, braced itself for a less certain economy.
January 13 -
The bank spent $16.2 billion in the last three months of 2022, exceeding analyst estimates.
January 13 -
The company said NII will be about $73 billion this year, below the $74.4 billion estimate of analysts. The forecast followed a record haul of $20.2 billion from net interest income in the fourth quarter.
January 13