Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it reviewed passed its annual stress test of capital reserves. The Fed estimated $612 billion in potential losses for banks in its most severe economic scenario, and … Read more

Bank of America and Citigroup are flagged for potential losses on risky loan deals by rival JPMorgan

Bank of America and Citigroup are flagged for potential losses on risky loan deals by rival JPMorgan

Fund outflows and tightening conditions in a key corner of the credit markets have left big banks with an estimated $2 billion in losses, according to JPMorgan Chase . Bank of America and Citigroup have the most exposure to so-called hung loan deals within the coverage universe of JPMorgan analyst Vivek Juneja, according to a … Read more

Binance raises $500 million fund to invest in Web3 startups

Binance raises $500 million fund to invest in Web3 startups

Binance is the world’s biggest cryptocurrency exchange, handling $490 billion of spot trading volumes in March 2022. Akio Kon | Bloomberg | Getty Images Binance, the world’s largest cryptocurrency exchange, is launching its own venture capital fund. The company’s venture arm, Binance Labs, said Wednesday it has raised $500 million for its debut start-up fund, … Read more

Wall Street banks name global stocks and sectors that could be near a bottom

Wall Street banks name global stocks and sectors that could be near a bottom

Bank of America and JPMorgan have named global stocks and sectors that have plummeted and could be trading near the bottom, while Citi said: “buy this dip.” It comes at a volatile time for markets. After weeks of losses, the S&P 500 and Dow Jones Industrial Average scored big gains last week. The Dow finished … Read more

JPMorgan backtracks on key target, says it can reach 17% returns this year

JPMorgan backtracks on key target, says it can reach 17% returns this year

Jamie Dimon, CEO of JPMorgan Chase speaks to the Economic Club of New York in New York, January 16, 2019. Carlos Allegri | Reuters JPMorgan Chase on Monday reversed course on guidance it gave in January, saying the bank could achieve a key performance target this year after all. The lender said that a 17% … Read more