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Stock Market & Financial Investment News

News Breaks
February 16, 2014
18:32 EDTBAC, HSBCHSBC, Bank of America settle 'forced' property insurance claims, Bloomberg says
Bank of America (BAC) and HSBC (HSBC) have settled lawsuits brought over property insurance that borrowers were "forced" to accept, says Bloomberg. Reference Link
News For HSBC;BAC From The Last 14 Days
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November 17, 2014
11:33 EDTHSBCHSBC facing charges of money laundering, fraud in Belgium, FT reports
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10:15 EDTBACBank of America reports October default rate 2.81% vs. 2.93% last month
Reports October delinquency rate 1.94% vs. 1.92% last month.
November 12, 2014
16:23 EDTHSBC, BACOn The Fly: Closing Wrap
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12:38 EDTBAC, HSBCOn The Fly: Midday Wrap
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10:14 EDTBACOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
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08:57 EDTHSBCBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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07:28 EDTBACBofA/Merrill to hold a conference
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06:12 EDTHSBCCFTC fines five banks $1.4B for manipulation of FX benchmark rates
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06:05 EDTHSBCFCA fines five banks $1.7B over FX trading operations
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November 11, 2014
14:30 EDTHSBCBanks to be hit with billions in fines for currency manipulation, Telegraph says
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11:56 EDTBACAmerican Commercial weighs sale with value of over $1B, Financial Times says
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06:59 EDTBACBank of America's head of FICC trading to retire by year-end, WSJ reports
Bank of America's head of global fixed income, currencies and commodities trading trading, David Sobotka, will retire by year-end, the Wall Street Journal reports, citing an internal memo sent to employees. Sobotka is planning to take some time off before deciding on his next steps. Sources say BofA will name Sobotka's replacement by the end of the year. Reference Link
November 10, 2014
06:53 EDTBACBank of America, U.S. Bancorp settle bond trustee class action, Reuters says
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06:46 EDTBAC, HSBCRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:18 EDTHSBCUBS to settle misconduct allegations at precious metals trading unit, FT reports
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November 9, 2014
13:00 EDTBACBofA looks for additional SEC sanctions to be waved, Bloomberg says
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November 6, 2014
16:39 EDTBACBank of America to revise Q3 EPS to loss of (4c)
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14:52 EDTBACBofA executives concerned over departure of senior brokers, Reuters says
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13:46 EDTBACBofA execs grow worried after senior Merrill brokers depart, Reuters says
Top executives at Bank of America have grown increasingly worried and approached Merrill's leader John Thiel after top executives within the investment group have announced their departure the past few weeks, according to Reuters, citing three sources familiar with the matter. Reference Link
11:24 EDTHSBC, BACHSBC, JPMorgan highest on FSB list of global systemically important banks
The Financial Stability Board published its updated list of global systemically important banks, placing HSBC (HSBC) and JPMorgan (JPM) in its highest "bucket" corresponding to required level of additional loss absorbency. Both of those banks were placed in bucket 4, which is associated with 2.5% in additional loss absorbency required. Banks in the next category, or bucket 3, include Barclays (BCS), BNP Paribas (BNPQY), Citigroup (C) and Deutsche Bank (DB). Other banks included on the updated list include Bank of America (BAC), Credit Suisse (CS), Goldman Sachs (GS), Morgan Stanley (MS), RBS (RBS), BNY Mellon (BK), ING Groep (ING), Banco Santander (SAN), Societe Generale (SCGLY), Standard Chartered (SCBFF), State Street (STT), UBS (UBS), and Wells Fargo (WFC). Of note, UBS is now in the lowest bucket, associated with 1% additional loss absorbency required. Reference Link
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