The American Bankers Association, a representative of majority of the community banks in the US, said the provision on banning investments in collateralized debt obligations will result to the lenders losing $600 million in the process.
Popolare Vicenza Chairman Gianni Zonin told an Italian daily that Banca Popolare di Vicenza intends to grow its branches to a thousand from its current 690 through acquisitions.
US bank regulators said they would consider allowing banks to hold on to complex securities despite the Volcker rule prohibiting them from owning such and would arrive at a decision in the middle of January.
Textron Inc Chairman and Chief Executive Officer Scott Donnelly disclosed to analysts and investors in a teleconference today that it will be financing its acquisition of Beech Holdings LLC via debt.
The Los Angeles Times reported that the legal costs of Bank of America could continue to rise, mostly due to its ill-fated acquisition of Countrywide Financial Corp in 2008.
Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.
The UK government is mulling on rule changes that would make it easier for small and medium-sized businesses (SMBs) to obtain funding from alternative financiers and new banks.
Shares of NH Investment & Securities Co gained the most in more than three years after Woori Finance Holdings said its parent company NH Financial Group Inc was the frontrunner to purchase the Woori Investment & Securities Co.
Morgan Stanley is selling its Indian mutual fund assets to a joint venture between India's HDFC and Britain's Standard Life, becoming the latest foreign asset manager to quit India.
During the financial crisis when the deal markets were quiet, banks parted ways with their senior investment bankers. Now that business has slowly revived, lenders are seeing that they are left with junior bankers that are a little wet behind the ears.
Time Warner Cable's 462% total returns may help convince its shareholders to reject Charter Communications' $62 billion offer or to not press for a sale. Time Warner Cable is seeking a takeover bid of $150 per share.
Roshan Padamadan, a former HSBC Holdings Plc product specialist, has started a hedge fund that will seek for opportunities in global liquid securities, Bloomberg reported.
Sprint chairman and SoftBank chief executive Masayoshi Son was reportedly meeting senior bank executives in New York. Sources said that banks are readying proposals for financing a bid by Sprint Corp. for T-Mobile US.
Investment bank UBS AG has put up for sale its administrative services arm for employee equity plans to simplify its operations. Corporate Employees Financial Services International will be sold to Montagu Private Equity.
Venezuelan bank Banesco has won the bid for a controlling stake in Spanish state-rescued lender NCG Banco through its €1 billion offer. Banesco bet out five other rivals in the auction.