Sunday, December 22

Tag: Commercial Banking

Sale of Silicon Valley Bank’s Old Venture Capital Arm Hits a Snag
15Dec By adminNo Comments
Money

Sale of Silicon Valley Bank’s Old Venture Capital Arm Hits a Snag

A process to sell the venture-capital arm of bankrupt SVB Financial, the former parent of Silicon Valley Bank, has fallen flat and creditors are now gearing up for a potential takeover of the business. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Oklahoma Finds It Hard to Break Up With JPMorgan and BlackRock
14Dec By adminNo Comments
Money

Oklahoma Finds It Hard to Break Up With JPMorgan and BlackRock

Cutting ties with the largest U.S. banks and asset managers is easier said than done. In Oklahoma, where a new law requires the state to stop doing business with financial companies that “boycott” the oil-and-gas industry, officials and pension employees are running into hurdles while trying to comply.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects
14Dec By adminNo Comments
World

Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects

Credit Agricole said it aims to achieve carbon neutrality by 2050 and that it won’t finance any new fossil fuel extraction projects.The French lender said Thursday it expects to increase 80% of its exposure to low carbon energies through 2025 totalling 13.3 billion euros ($14.46 billion).Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Private Market Can Add Discipline to Deposit Insurance
14Dec By adminNo Comments
Health

The Private Market Can Add Discipline to Deposit Insurance

Following the collapse of Silicon Valley Bank, Signature Bank and First Republic Bank this spring, U.S. lawmakers have faced a policy head-scratcher. When bank runs happen on the internet, not at the teller’s window, how can the government ensure that smaller and regional banks can meet increased demands for liquidity during moments of panic? Excessive capital requirements would harm smaller banks more than larger ones, while reducing the demand for liquidity by increasing the amount of deposit insurance would create serious moral hazard.Solving such a complex problem requires a fresh look at deposit insurance. The Federal Deposit Insurance Corp., to its credit, hinted at the answer in a May report on the history and nature of deposit insurance. It asked whether private insurance has a ro...
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Credit Suisse to Pay $10 Million After SEC Alleges Prohibited Underwriting, Advising
14Dec By adminNo Comments
Money

Credit Suisse to Pay $10 Million After SEC Alleges Prohibited Underwriting, Advising

Credit Suisse Securities and two affiliated entities will pay more than $10 million to settle charges from the U.S. Securities and Exchange Commission that it allegedly provided certain prohibited services.The SEC said Wednesday that the bank acted as an underwriter and investment adviser to mutual funds after being prohibited from doing so by a New Jersey court in October 2022.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review
12Dec By adminNo Comments
Money

FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review

A special committee at the Federal Deposit Insurance Corp. said it had hired the law firm Cleary Gottlieb Steen & Hamilton LLP to conduct a review into the workplace culture, replacing another previously hired law firm nearly a month after The Wall Street Journal revealed allegations of harassment and discrimination pervaded the agency.Led by former acting Manhattan U.S. Attorney Joon Kim, Cleary Gottlieb will examine allegations of sexual harassment and misconduct as well as other issues related to the workplace culture, including “any practices that might discourage or otherwise deter the reporting of, or appropriate response to, harassment and interpersonal misconduct,” the special committee said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5edd...
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FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review
11Dec By adminNo Comments
World

FDIC Hires Law Firm Cleary Gottlieb to Handle Workplace Culture Review

A special committee at the Federal Deposit Insurance Corp. said it had hired the law firm Cleary Gottlieb Steen & Hamilton LLP to conduct a review into the workplace culture, replacing another previously hired law firm nearly a month after The Wall Street Journal revealed allegations of harassment and discrimination pervaded the agency.Led by former acting Manhattan U.S. Attorney Joon Kim, Cleary Gottlieb will examine allegations of sexual harassment and misconduct as well as other issues related to the workplace culture, including “any practices that might discourage or otherwise deter the reporting of, or appropriate response to, harassment and interpersonal misconduct,” the special committee said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5edd...
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