GSIBs

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering.

Payouts continue to be relatively generous, but that could change if the Federal Reserve demands banks bolster capital or the economy worsens.

Demand has soared for mental health services as bank employees put in long hours, supervise kids while working at home and endure personal crises. Citi, BofA, Fifth Third and others are getting creative to help them decompress during the pandemic.

Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.

Funneling fees from emergency loans to feed the hungry. Supporting psychological counseling for health care heroes and financial advice for the poor. Backing retrofits of customer operations to produce protective gear for front-line medical personnel. Bankers and financial educators have tossed out the traditional playbook to help clients and communities in crisis.

Consumers and businesses put more money in the bank as the pandemic worsened. How long the funds remain will depend on how quickly the economy recovers.

The change — effective immediately — will reduce capital demands by about 2% overall, the Fed estimated, and will be open for a 45-day comment period.

Draw-downs on C&I credit more than quadrupled in a seven-day period ended March 25. Lenders may try to rein them in if the crisis drags out, but legal precedent isn’t on their side.

The COVID-19 crisis is forcing many banks to hold their spring shareholder meetings online only.

The rule establishes a measure of capital adequacy meant to simplify how banks are assessed in the Comprehensive Capital Analysis and Review program.

The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.

Ed Skyler, the bank's global head of public affairs, says a newly established $150 million fund will make equity investments in firms seen as having a positive impact on society.

Lenders that depend on the Export-Import Bank to back loans to exporters are already seeing business borrowing pick up after Congress reauthorized the agency in December.

JPMorgan Chase gave its chairman and CEO a 1.6% hike in total compensation in 2019 after a second consecutive year of record profits.

The central bank is aiming to finish a rule creating a streamlined capital buffer ahead of the upcoming round of stress testing, but industry experts say that timeline may be too ambitious.

The country's biggest bank is leaning more on fee income to offset rate pressures, expanding in selected U.S. cities and laying the groundwork for operations in China that CEO Jamie Dimon hopes will endure “for 100 years.”

Stateside banks are starting to play catch-up to banks worldwide that are incorporating environmental, social and governance factors into their underwriting. Pressure from big shareholders is a driving force.

The effort is part of a push by interim Chief Executive Officer Noel Quinn to cut costs at Europe’s largest lender by assets.

Morgan Stanley is the latest firm to make a year-end efficiency push, eliminating about 1,500 jobs, according to people familiar with the matter.

The Federal Reserve and Federal Deposit Insurance Corp. found issues with the firms' ability to compile data on how they would be unwound during a period of financial stress.