Earlier this week, China introduced significant policy measures, including a 20bp OMO rate cut, a 30bp MLF rate cut, and adjustments to the prime loan rates. Deposit rates will decrease by 20-25bp, and a 50bp RRR cut will inject around RMB 1 trillion in liquidity, with further cuts possible. The PBOC will also reduce mortgage … Read more
JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, D.C., on Dec. 6, 2023. Evelyn Hockstein | Reuters Buried in a roughly 200-page quarterly filing from JPMorgan Chase last month were eight … Read more
A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty Images Commerzbank and UniCredit are set to begin talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. … Read more
A sign on the exterior of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. Bloomberg | Bloomberg | Getty Images France’s BNP Paribas on Thursday said there are simply too many European lenders for the region to be able to compete with rivals from the U.S. and Asia, calling … Read more
A man shelters from the rain under an umbrella as he walks past the Euro currency sign in front of the former European Central Bank (ECB) building in Frankfurt am Main, western Germany. Kirill Kudryavtsev | Afp | Getty Images European banking’s latest takeover battle is widely regarded as a potential turning point for the region … Read more
A logo for financial service company Merrill Lynch is seen in New York. Emmanuel Dunand | Afp | Getty Images The U.S. Securities and Exchange Commission charged Harvest Volatility Management and Merrill Lynch on Wednesday for exceeding clients’ predesignated investment limits over a two-year period. Merrill, owned by Bank of America, and Harvest have agreed … Read more
Bettina Orlopp, chief financial officer of Commerzbank AG, speaks during a fourth quarter earnings news conference at the bank’s headquarters in Frankfurt, Germany, on Thursday, Feb. 13, 2020. Alex Kraus | Bloomberg | Getty Images Commerzbank announced Tuesday it has picked 10-year veteran, and current Chief Financial Officer Bettina Orlopp to helm the bank as … Read more
A protestor holds a placard with a slogan reading “Stop Merger Horror” during a union demonstration outside the Commerzbank AG headquarters in Frankfurt, Germany, on Tuesday, Sept. 24, 2024. Bloomberg | Bloomberg | Getty Images Italy’s UniCredit appears to have caught German authorities off guard with a potential multibillion-euro merger of Frankfurt-based Commerzbank, a move … Read more
Justin Sullivan | etty Images The U.S. Justice Department on Tuesday sued Visa, the world’s biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on partners and smothering upstart firms. Visa’s moves over the years have resulted in American consumers and merchants paying billions of dollars in … Read more
15 February 2024, Hesse, Frankfurt/M.: The lettering “Commerzbank” can be seen on the Commerzbank Tower in the center of the banking city. Boosted by the turnaround in interest rates, Commerzbank is aiming for another profit increase after a record year. Photo: Helmut Fricke/dpa (Photo by Helmut Fricke/picture alliance via Getty Images) Picture Alliance | Picture … Read more
