The three custody banks — Bank of New York Mellon, State Street and Northern Trust — would, when calculating how much capital to hold on their balance sheets, be able to set aside deposits they received from other banks and immediately gave to the Federal Reserve or another central bank ...
Which led to the situation that I discussed in my last post, “Can Anyone Manage the ‘Too Big To Fail’ Banks?” A problem associated with this situation is whether of not these “Too Big To Fail” banks can be regulated. There is, of course, some belief that these banks cannot real...
Can the Big Wall Street Banks Really Control the Market?Courtney McGuinn
Yesterday, the 10-year U.S. Treasury note reached a 3 percent yield for the first time in four years, which should have added another headwind for the three big Wall Street banks. And yet, magically, it didn’t. There are two dubious aspects of today’s Wall Street that may help ...
Americans can no longer pretend any of this is normal. Citizens are facing the fight of their lifetimes to restore representative government to America while there is still time to do so. That fight begins with breaking up the big Wall Street banks andrestoring the Glass-Steagall Act. It ...
Outlook from Wall Street's biggest lenders was cautious against the backdrop of markets pricing in interest rate cuts by the Federal Reserve as early as March. Lower rates hurt the net interest income generated by banks. Separately, data showing a decline in wholesale prices came as a positive...
Finance is the management of money. “Financialization” refers to the increasing power of finance over the economy. The financial industry’s share of the overall economy has tripled since World War II. The financial sector — Wall Street — finds a way to extract profit from every facet of...
But a bigger catalyst for Wall Street’s stumble has been the reappearance of regulatory risk for big banks at a time when the sector has already been hit on concerns over profit margins and possible trouble for long-term government bonds (related to the Bank of Japan plans to lift long-te...
Get ready for the flood of corporate earnings from big banks, with investors focusing on guidance and the impact of interest rates on net interest income.