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All articles tagged with #banking

Putin Faces Fresh Setback as Russia’s Banking System Edges Toward Crisis
world4 days ago

Putin Faces Fresh Setback as Russia’s Banking System Edges Toward Crisis

A European state intelligence report seen by Reuters warns that Russia’s heavy bank lending, under Western sanctions, has created an ‘explosive’ risk of a banking crisis in 2026, with Russia’s growth forecast slashed to about 0.4% for 2026 and 1.4% for 2027. Banks have been subsidizing loans to defense firms and buyers, masking vulnerabilities that could erupt if sanctions broaden or a shock hits the economy, all as Moscow pursues optics and diplomacy— including a staged video and outreach to Donald Trump—to shore up support amid the Ukraine war.

via The Daily Beast|
#banking#russia#russia-ukraine
Fed stress test: U.S. banks weather $708B loss shock
business16 days ago

Fed stress test: U.S. banks weather $708B loss shock

All 32 large U.S. banks would remain above minimum capital requirements in the Fed’s annual stress test, even under a scenario that would produce over $708 billion in losses in a severe recession. The common equity tier 1 ratio fell only 1.6 percentage points, and the Fed said it will keep current capital buffers unchanged through 2027 as it reworks methodology, reshaping how much capital firms must hold in downturns.

via CNBC|
#banking#business#capital
JPMorgan bets on long-running AI agents to automate complex banking workflows
business1 month ago

JPMorgan bets on long-running AI agents to automate complex banking workflows

JPMorgan Chase plans to deploy autonomous AI agents later this year that can operate for hours, evolving from single-task tools into digital workers that manage multi-step workflows across disparate software. The move aims to boost efficiency and revenue, with private banking already seeing a 20% lift in gross sales and potential to expand bankers’ client coverage by up to 50%. Security and governance hurdles remain, but JPMorgan expects longer-running AI agents to be in use by 2026, with more emphasis on building capabilities in-house rather than buying them.

via CNBC|
#artificial-intelligence#automation#banking
Banco BPM seeks talks with MPS to form Italy’s No. 2 bank
business1 month ago

Banco BPM seeks talks with MPS to form Italy’s No. 2 bank

Banco BPM said it would invite Monte dei Paschi di Siena to discuss a merger of equals that could create Italy’s second-largest bank, a ~50 billion euro group on the Milan stock market with over 1.1 billion euros in pre-tax annual synergies and EPS upside above 10%. The move, backed by BPM’s board including Credit Agricole representatives, comes after BPM’s reprivatization involvement and amid UniCredit’s earlier opposition to a BPM-MPS move; MPS’s board was set to meet to discuss the proposal, signaling a potential new wave of Italian banking M&A.

via CNBC|
#banco-bpm#banking#business
AI-driven overhaul prompts Standard Chartered to trim nearly 8,000 jobs
business1 month ago

AI-driven overhaul prompts Standard Chartered to trim nearly 8,000 jobs

Standard Chartered plans to cut almost 8,000 jobs—more than 15% of its back-office staff by 2030—as it places AI at the center of a new growth strategy, describing the move as replacing lower-value human work with capital and training to redeploy staff, while targeting higher returns, more income per employee, and a larger dividend, alongside leadership changes and investor-day highlights.

via Financial Times|
#ai#automation#banking
Banks warn Clarity Act tweak could enable stablecoin evasion
business2 months ago

Banks warn Clarity Act tweak could enable stablecoin evasion

A coalition of major banking trade groups criticizes a compromise in the Clarity Act that would ban stablecoin yield but allow certain rewards tied to balances or governance, arguing those exemptions could let crypto firms evade the prohibition. They urge tightening the language before a Senate Banking Committee vote, as lawmakers rush to advance digital-asset legislation amid looming elections and ongoing industry lobbying.

via Decrypt|
#banking#business#clarity-act
CapOne $425M payout: see if you qualify for the settlement
business2 months ago

CapOne $425M payout: see if you qualify for the settlement

Capital One is distributing about $425 million to current and former customers who held a Capital One 360 Savings account at any time from Sept. 18, 2019, to June 16, 2025. Payments will be issued automatically (no action required) and vary based on how long you held the account and the balance. To check eligibility, sign in to Capital One’s app or website, select the account, then view details or statements; accounts opened after June 16, 2025 are ineligible. The settlement stemmed from claims that the two accounts — 360 Savings and 360 Performance Savings — had similar names but different rates, and customers weren’t clearly told which they held.

via New York Post|
#banking#business#capital-one
Cannabis moved to Schedule III, easing research and banking while federal legalization remains off the table
politics2 months ago

Cannabis moved to Schedule III, easing research and banking while federal legalization remains off the table

The Trump administration moved cannabis from Schedule I to Schedule III under the DEA, easing federal research barriers and allowing FDA-approved products and state-licensed items to be treated as Schedule III, while opening banking access and tax deductions for cannabis businesses. An expedited June hearing will also consider formal reclassification back to Schedule I at the federal level, signaling a broader, cautious shift in federal cannabis policy without legalizing it federally.

via CNBC|
#banking#cannabis#politics
Profits Up, Jobs Down: Banks’ Q1 Glow Masks a Brutal Hiring Market
business2 months ago

Profits Up, Jobs Down: Banks’ Q1 Glow Masks a Brutal Hiring Market

US banks posted strong Q1 results with higher trading revenues and booming M&A, boosting compensation while simultaneously cutting headcount (Goldman down ~400 since end-2025, Citi down ~2,000 in Q1) and pursuing AI-driven efficiency; despite profits, hiring remains brutal for jobseekers due to layered, automated recruitment processes and cautious deal activity amid geopolitical risk.

via eFinancialCareers|
#banking#business#compensation
Oil surge and banks set the tone for a volatile market week
markets2 months ago

Oil surge and banks set the tone for a volatile market week

Futures point to a softer start as crude prices jump on talk of a Hormuz blockade, while Goldman Sachs beats estimates but fixed‑income trading underwhelms; JPMorgan, Citi, Wells Fargo and others are due this week as earnings season kicks off. AI cybersecurity debates around Anthropic’s Mythos draw regulator and bank concern, a Trump‑Pope clash adds political noise, and Ineos Automotive reports record SUV orders as the market weighs a mixed set of signals.

via CNBC|
#ai#banking#earnings