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Stock Market & Financial Investment News

News Breaks
February 29, 2012
05:55 EDTWFC, WFC, DRI, DRI, GS, GS, RJF, RJF, ABCB, ABCB, BKU, BKU, STI, STIFederal Reserve Bank of Atlanta to host a conference
Annual Banking Outlook Conference is being held in Atlanta on March 1.
News For WFC;DRI;GS;RJF;ABCB;BKU;STI From The Last 14 Days
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September 10, 2014
07:54 EDTWFCWells Fargo CFO says 'working hard' to return more capital to shareholders
Comments from Wells Fargo CFO John Shrewsberry speaking at the Barclays Global Financial Services conference.
07:29 EDTWFCWells Fargo sees Q3 mortgage originations in line with Q2
Wells Fargo said it expects Q3 mortgage originations to be in line with Q2, while gain on sale margin is expected to remain within the range of the last four quarters. The bank expects to operate within its targeted efficiency ratio range of 55%-59% in Q3.Wells Fargo said it continues to be well positioned relative to liquidity LCR standards and while there is potential for continued NIM pressure, the bank's focus remains on growing net interest income over time. Wells noted that it continues to expect future reserve releases absent significant deterioration in the economy, but expect a lower level of future releases as the rate of credit improvement slows and the loan portfolio continues to grow. Information from slides for CFO John Shrewsberry's presentation at the Barclays Global Financial Services conference.
07:22 EDTBKUBankUnited initiated with a Market Perform at BMO Capital
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07:16 EDTGS, WFCRepublicans, Democrats both push for harder 'too big to fail' rules, WSJ says
Lawmakers from both the Republican and Democrat sides of the aisle urged U.S. regulators to push forward additional regulations to ensure the biggest banks aren't "too big to fail," said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:35 EDTGS, WFCFed may raise capital requirement for some banks to 11.5%, NY Times reports
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September 9, 2014
17:44 EDTWFCWells Fargo confirms Apple Pay available to customers
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14:54 EDTWFCApple announces Apple Pay
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11:22 EDTSTISunTrust sees modest decline potential in cyclical costs, other expenses
Says committed to maintaining strong expense discipline. Says that there is potential for modest declines in cyclical costs and other credit-related expenses. Believes company's size is an advantage. In terms of the company's consumer banking and private wealth management area, it looks to grow wealth management, optimize the delivery model, increase consumer lending production and continue to improve retail productivity. Says that there is further potential in improving the company's overall return profile and capital return to shareholders. Comments take from the company's slide presentation at the Barclays 2014 Global Financial Services Conference.
07:29 EDTWFCUBM Canon to hold a summit
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07:11 EDTWFCUBM Tech to hold a conference
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06:33 EDTWFC, GSFed looks set to pressure large banks to shrink, NY Times says
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06:32 EDTWFCFed to require large US banks to have extra financial padding, WSJ reports
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September 8, 2014
07:24 EDTWFC, STIBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
September 5, 2014
09:06 EDTGSCFTC concerned about banks shifting trading operations overseas, WSJ says
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September 4, 2014
08:05 EDTDRIDarden sends letter to shareholders regarding board nominees, CEO search
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06:40 EDTGS, WFCAgencies finalize liquidity rule for large banks
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finalized a rule yesterday that they said would strengthen the liquidity positions of large financial institutions. The rule will for the first time create a standardized minimum liquidity requirement for large and internationally active banking organizations., according to the agencies. Each institution will be required to hold high quality, liquid assets, or HQLA, such as central bank reserves and government and corporate debt that can be converted easily and quickly into cash in an amount equal to or greater than its projected cash outflows minus its projected cash inflows during a 30-day stress period, the agencies explained. The ratio of the firm’s liquid assets to its projected net cash outflow is its “liquidity coverage ratio,” or LCR, they said. The LCR will apply to all banking organizations with $250B or more in total consolidated assets or $10B or more in on-balance sheet foreign exposure and to these banking organizations’ subsidiary depository institutions that have assets of $10B or more, the agencies reported. The rule also will apply a less stringent, modified LCR to bank holding companies and savings and loan holding companies that do not meet these thresholds, but have $50B or more in total assets. Bank holding companies and savings and loan holding companies with substantial insurance or commercial operations are not covered by the final rule. The final rule is largely identical to the proposed rule, with a few key adjustments in response to comments from the public, the agencies stated. Those adjustments include changes to the range of corporate debt and equity securities included in HQLA, a phasing-in of daily calculation requirements, a revised approach to address maturity mismatch during a 30-day period, and changes in the stress period, calculation frequency, and implementation timeline for the bank holding companies and savings and loan companies subject to the modified LCR. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
06:34 EDTGSBlackstone pledges $200M to Brown's Arkkan Capital, Bloomberg says
Blackstone (BX) pledged $200M to Arkkan Capital Management, a firm that is supervised by Jason Brown, who is the former leader of Goldman Sach's (GS) Global Special Situations Group, according to Bloomberg, citing a person with knowledge of the matter. Reference Link
06:30 EDTGSITG launching dark pool for bonds, WSJ reports
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06:13 EDTWFCWells Fargo implied volatility of 12 at lower end of index mean range
06:10 EDTGSGoldman overseeing early share trading in Alibaba IPO, Reuters says
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