Investments

The state treasurer's revisions, which shrank the list to six financial firms from 13, includes Bank of America, JP Morgan Chase and Wells Fargo.

About two-thirds of respondents in a survey of roughly 300 Bloomberg terminal users said the anti-ESG movement that started in the U.S. last year will force firms to stop using those three letters in conversations with clients.

Moody's said higher funding costs, a potential decline in bank capital and growing risk in the commercial real-estate industry prompted many of the downgrades.

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.

Broker-dealers, investors and clearing companies, among others, will have to upgrade their operations and technology to meet SEC regulations.

A U.S. senator claims that proposed new rules would allow bank supervisors to oust bank executives over things as vague as "climate risk" standards.

The Wildflower Foundation is seeking to raise $10 million for its Sunlight Loan Fund, which supports teachers who want to provide broader access to Montessori education. U.S. Bank recently closed on the inaugural commitment to the fund.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

Next week, the House Financial Services Committee will discuss bank regulator oversight bills, including one that would remove the Federal Reserve's Vice Chairman for Supervision position.

The plaintiff that brought the case on behalf of the state says the banks inflated interest rates through a private, invitation-only VRDO index that influenced SIFMA's weekly index.

The Securities and Exchange Commission and the Federal Reserve have questioned prime brokers about the basis trade as well.