BNP Paribas CEO Jean-Laurent Bonnafé reportedly expressed skepticism about the potential for a revival of mergers and acquisitions (M&A) activity in European banking. Speaking Tuesday (May 14) at a shareholder meeting, Bonnafé highlighted the economic challenges of cross-border and domestic deals in the industry, dampening...
Federal Reserve Governor Lisa Cook highlighted commercial real estate, private credit and cyber risks as potential issues. Speaking Wednesday (May 8) at the Brookings Institution in Washington, D.C., Cook provided a current assessment of financial stability and highlighted these issues as potential vulnerabilities. The commercial real estate (CRE) sector continues...
The U.S. financial system is exploring the use of shared ledger technology for multi-asset transactions. The project will involve a number of high-profile financial institutions (FIs) — including Visa, Mastercard, Citi and JPMorgan — managed by the Securities Industry and Financial Markets Association (SIFMA). “In the current financial system,...
Cleveland-based financial institution KeyBank has launched a virtual account management solution for treasury management clients. The new Key Virtual Account Management (KeyVAM) solution is designed for clients who have complex demand deposit account (DDA) structures and provides them with instant access to KeyBank commercial cash...
At its investor day Tuesday (May 7), FIS management outlined its continuing strategy to capture share in global money movement — a market worth hundreds of billions of dollars. CEO Stephanie Ferris said during her initial remarks that the company’s business model is “underpinned by highly recurring revenue, allowing...
Several banks have reportedly expanded their retail footprint into airport terminals. These bank branches in airports offer convenience, comfort and a range of financial services to existing customers, while also serving as a platform for banks to engage with potential new ones, CNBC reported Friday (May 3). Brands...
A new study from the Federal Reserve indicates that it’s not income levels or ability to repay that drives banks’ willingness to extend credit. Rather, the use of credit — the engagement — is a significant factor in determining when, and by how much, credit...
Goldman Sachs is reportedly closer to exiting its General Motors credit card business. The banking giant is in discussions with Barclays to transfer the issuance of the cards, the latest in its long-term project to move away from consumer lending, the Wall Street Journal (WSJ)...
For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted in a report Sunday (April 28) on the phenomenon. Among the lenders in question is Wells Fargo,...
