Strategic planning

Domestic banks borrowed $7.2 billion from the short-term lending facility in the third quarter of 2022, the highest level in almost two years. Banks with assets of $3 billion or less drove the increase.

Goldman Sachs, Capital One and New York Community Bank are shrinking their workforces, and other banks are planning to do the same. Whether such reductions become more widespread will depend largely on loan demand in 2023, according to analysts.

Stripe, one of the world's most valuable startups, has hired JPMorgan Chase and Goldman Sachs Group as it explores options for raising liquidity.

Almost a fifth of U.S. banks are offering savings rates of 2% or more, a huge spike from a year ago, according to new data. Banks are paying more out of fear their customers will flee to competitors offering higher rates.

Digital Currency Group, the struggling crypto empire whose Genesis Global Capital lending unit is trying to stave off bankruptcy, said it's suspending quarterly dividends to preserve cash.

JPMorgan Chase, Wells Fargo and the Bank of New York Mellon all announced plans to restart or increase their buybacks this year after a sharp drop-off in 2022. Bank of America's CEO also said the company is "back in the game."

The New York bank, which recorded an 8% increase in expenses last year, projects that they will rise by 5% in 2023. Other megabanks are also contending with higher costs.

After weaker-than-expected earnings in the third quarter of 2022, several large banks halted share repurchases in a bid to build capital.

Credit Suisse Group is considering cutting the bonus pool for 2022 by about half, according to people familiar with the matter, capping a grim year in which the bank was forced to raise $4 billion after a string of losses.

As customers increasingly do their banking via smartphone apps and online, Santander and Argentine rivals including BBVA Argentina, Grupo Financiero Galicia and Grupo Supervielle, like their global peers, are pushing to close physical locations. But regulators won't let them.

Goldman Sachs is embarking on one of its biggest rounds of job cuts ever as it locks in on a plan to eliminate about 3,200 positions this week, with the bank's leadership going deeper than rivals to shed jobs.

The National Credit Union Administration must justify its sharply higher operating budget for next year.

Goldman Sachs Group aims to cut at least a few hundred more jobs as the Wall Street titan restructures its struggling consumer business and braces for an uncertain economy in the year ahead.

Plaid said it cut 260 staffers Wednesday after changing macroeconomic conditions forced it to rein in costs.

CEO Bill Rogers affirmed the North Carolina bank's commitment to an expansion of Truist Insurance Holdings. But he declined to comment on a recent report that the company was exploring the potential sale of up to 30% of the business.

Fidelity National Information Services plans to dismiss thousands of workers as part of incoming Chief Executive Stephanie Ferris's strategy to win back investor confidence after the fintech giant slumped 44% this year.

Six years after buying a bank, the New York company plans to sell its banking unit to a group of investors. The decision to refocus on its core businesses comes 18 months after Thasunda Brown Duckett took the reins as CEO.

Stripe, one of the world's most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn.

Credit Suisse Group reported its fourth straight loss as its investment bank continued to struggle, wealthy clients fled and the lender booked a charge related to a critical overhaul that's been in the making for months.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.