SEC won’t appeal court decision paving way for Grayscale spot bitcoin ETF
The Securities and Exchange Commission will not ask a federal appeals court to reconsider a ruling that paves the way for Grayscale Investments to launch a spot bitcoin exchange-traded fund, according to a person familiar with the matter.
Schwab says client cash moves are easing, beats deposit forecast
The Westlake, Texas, firm said deposits fell 28% to $284.4 billion in the third quarter from the year prior, beating the $268.8 billion average estimate of analysts surveyed by Bloomberg.
Crypto exchanges in ‘existential struggle’ embrace lending
Crypto lending is still small compared with the leverage bubble that took down large swathes of the sector when it burst in 2022, and executives say they’ve taken pains to avoid a repeat.
Wells Fargo, JPMorgan start banks’ post-earnings bond spree
The issuances may be driven by the companies’ needs to meet their total loss-absorbing capacity requirements, which require banks to hold a certain amount of debt at the level of their holding companies that can be converted to equity in an emergency.
Glen Point trial casts Morgan Stanley as hedge fund’s victim
Glen Point co-founder Neil Phillips, whose trial begins Monday in Manhattan federal court, is accused of defrauding Morgan Stanley as the counterparty on a $20 million option pegged to a “barrier” exchange rate between the U.S. dollar and South African rand.
Fannie Mae, Freddie Mac should be enabled to buy MBS, trade groups say
The change, even if temporary, could help to reduce spreads to Treasurys and bring down rates, the Community Home Lenders of America, the Independent Community Bankers of America and the National Association of Realtors argue.
Event Advisory: FDIC to Convene Meeting of its Advisory Committee of State Regulators
EVENT ADVISORY | OCTOBER 16, 2023 FDIC to Convene Meeting of its Advisory Committee of State Regulators On Wednesday, October 18, at 1:00 p.m. ET, Federal Deposit Insurance Corporation (FDIC) Chairman Martin J. Gruenberg will host a meeting of the FDIC’s Advisory Committee of State Regulators. Committee members will discuss and receive updates on a […]
Want to prevent another SVB? Have banks disclose their duration gap.
The simple act of disclosing their sensitivity to interest rate changes would bring market discipline to the banking industry’s choices about interest rate risk.
How one credit union aims to generate buzz for FedNow
California-based Star One is sharing its experience with smaller banks and credit unions, in an effort to get more to offer the government-backed real-time payment rail.
Wells Fargo’s Mary Mack: The exit interview
The longtime Most Powerful Women in Banking honoree looks back on her four-decade career and how the industry has changed for women.