Securities

HSBC agreed to pay $100 million to settle an antitrust lawsuit by over-the-counter investors, including the city of Baltimore and Yale University, who claimed they were harmed when they bought securities tied to rigged Libor.

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have signed off on an abbreviation of the settlement cycle for securities to two days from three days.

Delaware corporations will soon be able to issue shares on a blockchain. Beyond the capital markets, the move has implications for the way banks stake their claims to collateral.

Banks and nonbanks are typically foes, but banks made 34 nonbank M&A deals through mid-May, emerging as buyers in two-thirds of them. Many buyers are eager to pad fee income by adding investment, specialty finance or insurance firms; sellers are typically looking to cut costs. Here is a roundup of such deals this year.

Depending whose money they're using, Wells Fargo and JPMorgan Chase either love subprime car loans or fear them.