Investments

Texas State Bankshares has agreed to buy Estrada Hinojosa & Co., one of the nation's biggest municipal underwriting and advisory firms.

While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.

The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged.

More than half of the eight-member Partnership for Carbon Accounting Financials by Barclays and Morgan Stanley voted for disclosing just 33% of so-called facilitated emissions, according to a person familiar with the process. Two members of the group voted for 100%.

Large financial institutions have "meaningful but manageable" loan volumes to industries that are most likely to see declines in output and profit after climate-friendly regulations take hold, new research shows.

Concluding the industry faces years of upheaval, BlackRock is poised to become a bigger buyer of assets that banks unload to improve their capital and liquidity.

As ESG issuance has grown around the globe, so have investor demands, international standards for it and regulatory rulemaking around it. Citi's Aoiffe McGarry and Fitch's Megan Neuburger discuss with The Bond Buyer's Lynne Funk.

Bankers say it isn't a crazy notion for a bank to charge multiple NSF fees on the same transaction because merchants often resubmit transactions for payment a second time, and the bank has no way of knowing if or when that happens.