Bank of America (BofA)
Trump’s rate cuts ‘demand’ spells trouble for Fed – economists
Comments will cause problems for central bank and threaten its independence, academics claim
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
Endlessly interim? The struggle to appoint top US regulators
Two-year OCC vacancy is not that unusual in US system, but it may hamper initiative
Two US regulators fine Bank of America $225m
Country’s second-largest bank unlawfully blocked access to unemployment benefits
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
Covid-19 frazzles AI fraud systems
Seismic changes in customer behaviour see machine learning solutions throw out false positives
Quant Lipton pans Facebook’s Libra
Former Bank of America exec sees more potential in rival projects, such as utility settlement coin
Artificial intelligence: The future of regulation?
The raft of new rules imposed on regulated financial institutions in the aftermath of the global financial crisis has a huge compliance cost. Could artificial intelligence offer efficiency gains?
China to merge regulators and expand central bank’s role
The PBoC will gain key powers from the regulatory commissions and report to the key committee
Fed bars BofA from raising dividends after flawed capital submission
Federal Reserve orders Bank of America to resubmit capital plan after bank discovers inaccuracies dating back to Merrill Lynch takeover that caused miscalculation of capital ratios
Downturn could halve capital ratios of biggest US banks, Fed stress tests show
Bank of America, Goldman Sachs, JP Morgan, Citigroup and Morgan Stanley all perform below average in Fed stress tests
Fed and FDIC agree 6% leverage ratio for US Sifis
Banking agencies announce rules to increase organisations' leverage ratios; measures remain controversial with the banking lobby and regulators, notably FDIC's Hoenig
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Fed overpaid for crisis assets by $21 billion: government report
Congressional Budget Office report estimates the Federal Reserve subsidised banks and investors by $21 billion through its credit programmes
Kuwait SWF sells Citi stake for $1.1 bn profit
Kuwait Investment Authority announces sale of its Citigroup share; follows Singapore GIC’s sale of Citi stake in September
Bernanke responds to claims of Merrill cover-up
Ben Bernanke, the chairman of the Federal Reserve, on Thursday claimed that the central bank had acted "with the highest integrity" in discussions with Bank of America over its takeover of Merrill Lynch, a now defunct investment bank.
Fed emails point to BoA pressure on Merrill deal
Emails sent by Federal Reserve officials and subpoenaed by government investigators appear to back claims that Ben Bernanke pressurised Bank of America to go ahead with its takeover of investment bank Merrill Lynch after the bank attempted to back out of…
Temasek sells Bank of America shares
Temasek, one of Singapore's sovereign wealth funds, has sold its stake in Bank of America in a bid to reduce its considerable exposure to western banking stocks.
Fed reveals Maiden Lane assets
In a bid to enhance transparency, and in doing so appease anger on the Hill, the Federal Reserve on Thursday released information about the assets it holds of American International Group (AIG), the beleaguered insurer, and Bear Stearns, a now-defunct…
Bernanke, Paulson forced Merill deal: BoA chief
Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, a former US treasury secretary, have been accused of pressurising Bank of America to go ahead with their takeover of investment bank Merrill Lynch after they attempted to back out of…
Tarp could cost taxpayers more
The Congressional Budget Office has raised its estimate of the ultimate cost to taxpayers of the $700 billion Troubled Asset Relief Program (Tarp) by 51%.