Pins matching tag:Banking

On Sunday 16 March 2008 JPMorgan Chase agreed to buy the collapsing Bear Stearns at US$2 a share, with the New York Fed funding US$30 billion of its assets and the Fed opening a new lending facility to primary dealers.

Lehman Brothers filed for Chapter 11 protection on Monday 15 September 2008, the largest bankruptcy filing in US history and the climax of the subprime mortgage crisis.

President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law on 21 July 2010, a response to the 2007-09 financial crisis.

California regulators closed Silicon Valley Bank on 10 March 2023 and appointed the FDIC receiver, the second-largest bank failure in US history, with about US$209 billion in assets.

On Sunday 19 March 2023 UBS agreed to take over Credit Suisse in an all-share deal worth CHF 3 billion, brokered by the Swiss government, FINMA and the Swiss National Bank.

Capital One completed its all-stock acquisition of Discover Financial Services on 18 May 2025, creating the largest US credit card issuer and bringing the Discover network under its ownership.

The Federal Reserve announced on 3 June 2025 that Wells Fargo is no longer subject to the asset growth restriction imposed in its 2018 enforcement action.

Neobank Chime began trading on the Nasdaq Global Select Market on 12 June 2025 under CHYM after pricing 32 million shares at US$27, above its range.

President Trump signed the GENIUS Act into law on 18 July 2025, creating the first federal regulatory framework for payment stablecoins with 1:1 reserve backing and monthly reserve disclosures.

Klarna began trading on the New York Stock Exchange on 10 September 2025 under KLAR after pricing 34.3 million shares at US$40, above its range.

BBVA's hostile takeover offer for Banc Sabadell lapsed on 16 October 2025 after only 25.33% of the share capital accepted, short of the 30% minimum it needed.

HSBC's privatisation of Hang Seng Bank became effective on 26 January 2026 and the shares were delisted on 27 January, making Hang Seng a wholly owned subsidiary of the HSBC Group.

The Fed, FDIC and OCC jointly requested comment on 19 March 2026 on three proposals that would overhaul US bank capital rules and implement the final Basel III standards, modestly reducing capital requirements for large banks.

Capital One completed its acquisition of the corporate-card and spend-management fintech Brex on 7 April 2026 in a deal valued at US$5.15 billion, paid in stock and cash.

The Federal Reserve published its 2026 bank stress test results on 24 June 2026: all 32 banks tested stayed above minimum capital after more than US$708 billion of hypothetical losses.

On 14 July 2026 Citigroup reported second-quarter net income of US$5.8 billion, up 45%, on revenue of US$24.8 billion, up 14%, and said it would raise its planned dividend by 12% and launch a US$30 billion buyback.

EverBank and Seattle-based WaFd announced on 8 September 2026 a US$3.9 billion reverse merger creating a US$75 billion-asset regional bank, due to close in the first quarter of 2027.

Citigroup will issue its third-quarter 2026 results by press release at about 8 a.m. ET on Tuesday 13 October 2026, with a live webcast and call at about 11 a.m. ET.

Goldman Sachs announces third-quarter 2026 earnings on 13 October 2026, after a second quarter of US$20.34 billion revenue and US$20.98 earnings per share.

Wells Fargo reports third-quarter 2026 earnings on 13 October 2026, with a call at 10 a.m. ET, after second-quarter profit rose to US$6.4 billion.

JPMorgan Chase releases its third-quarter 2026 earnings on 13 October 2026, with a call at 8:30 a.m. ET, after a record US$21.2 billion profit in the second quarter.

Morgan Stanley announces third-quarter 2026 results on 14 October 2026 at about 7:30 a.m. ET, after record second-quarter revenue of US$21.3 billion.

Barclays publishes third-quarter 2026 results at 7:00 a.m. UK time on 22 October 2026, after lifting its 2026 income target to about GBP 31.5 billion.

UBS Group publishes its third-quarter 2026 results on 28 October 2026, after second-quarter net profit rose 17% to US$2.8 billion as the Credit Suisse integration nears completion.

The Prudential Regulation Authority's Basel 3.1 final rules take effect in the UK on 1 January 2027, a year later than first planned, with the market-risk internal model approach following on 1 January 2028.

Money20/20 Europe, the continent's largest fintech and payments show, runs from 8 to 10 June 2027 at the RAI in Amsterdam.

Swift's annual Sibos conference for banks and market infrastructures comes to Marina Bay Sands in Singapore from 20 to 23 September 2027, the third time the city hosts.