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News Breaks | | | | October 19, 2012 | | 05:24 EDT |  | SAN, USB | USB's Elavon and Banco Santander form merchant services joint venture in Spain
Elavon and Banco Santander announced the establishment of a joint venture relationship in Spain. The transaction, subject to regulatory approval, establishes the creation of a new entity, 51% of which will belong to Elavon and the remaining 49% to Santander. The entity will assume responsibility for Santander’s merchant customers in Spain and will be equipped with specialized teams who, in collaboration with the branch network, will provide service, support and solutions. Elavon is a wholly owned subsidiary within the U.S. Bancorp (USB) group of companies. | |
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News For SAN;USB From The Last 14 Days Check below for free stories on SAN;USB the last two weeks. |
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| May 16, 2013 | | 12:32 EDT |  | SAN | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link | | | 08:33 EDT |  | USB | BofA/Merrill's gobal financial analysts hold an analyst/industry conference call
Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. | | | 06:41 EDT |  | USB | Big banks to benefit from U.S. concession on derivatives, NY Times says
 Subscribe for More Information | | | May 14, 2013 | | 09:38 EDT |  | SAN | Active equity option families trading on open
Subscribe for More Information | | | 08:33 EDT | | USB | CFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link | | | May 13, 2013 | | 15:04 EDT | | USB | Fed says large banks must submit midyear stress tests on July 5
Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added. | | | 06:49 EDT | | SAN | ECB member says negative deposit rates would help economy, Reuters says
Subscribe for More Information | | | May 10, 2013 | | 10:01 EDT | | USB | U.S. Bancorp awardeed $65M of new markets tax credit allocation
Subscribe for More Information | | | 08:40 EDT | | USB | U.S. Bancorp management to meet with Deutsche Bank
Subscribe for More Information | | | May 9, 2013 | | 05:43 EDT | | USB | Big banks take the offense against Washington, WSJ reports
The biggest U.S. banks are going on the offensive to fight off growing efforts in Washington to rein them in, reports the Wall Street Journal. They've hired longtime, influential Washington insiders to deflect regulatory and political pressure to strengthen their finances and to sell assets. Reference Link | | | | May 6, 2013 | | 06:09 EDT | | SAN | Banco Santander in talks to sell stake in asset management unit, FT reports
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