Fixed income

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

Some 3,400 additional staffers in the treasury management group will be required to get pre-clearance before making trades. The policy change was driven in part by increased regulatory scrutiny, the bank said.

The country's largest bank said second-quarter profit fell 51% to $4.69 billion, a smaller drop than forecast, as record trading revenue helped counter the biggest loan-loss provision in its history.

Investors are looking past signs of weakness and toward an eventual recovery, but top executives at BlackRock, Citigroup, Goldman Sachs and other financial firms remain cautious as many cities and states remain in partial lockdown to slow the spread of the coronavirus.

The regional wants to “play offense” with the proceeds of its $17 billion BlackRock stake; shares of some bank shares jumped 6% Thursday but remain well behind the rest of the market.

The market was upended because the largest banks hold more liquid assets in Treasuries than at the Fed, limiting their ability to supply repo funding on short notice, according to a new analysis from the Bank for International Settlements.

The custody bank has deployed more than 300 bots and is using artificial intelligence throughout the organization.

Better-than-expected trading results also helped to boost net income.

A healthy increase in consumer banking revenue also helped drive an 8% jump in profits at the nation's largest banking company.

The Federal Reserve said it will begin buying $60 billion of Treasury bills per month to improve its control over the benchmark interest rate it uses to guide monetary policy after turmoil rocked money markets in September.

The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances.

The bank started buying more Treasurys and mortgage-backeds over a year ago, long before talk about rate cuts. What did it know that its rivals didn't?

M&T Bank, Zions and Comerica are among the regional banks facing the most pressure on net interest margins, Wells Fargo analysts said in a research note to investors.

The approach could work as long as the Fed were to add certain thresholds.

B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.

A new feature from the microinvesting app Stash allows users to accumulate free stock in the companies where they spend money.

The rewards card offered by the fintech Stash will let users accumulate stock of companies at which they frequently shop. The company said Tuesday that it has raised $65 million from investors and will offer the card in partnership with Green Dot.

Royal Bank of Canada reported a 5% increase in quarterly profits, but a sharp increase in its loan-loss provision is raising concerns about credit quality.

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.

The mortgage loan origination system developer Ellie Mae is going private, agreeing to be acquired by the private equity firm Thoma Bravo in an all-cash transaction valued at $3.7 billion.