Coronavirus

Top U.S. banks see long road ahead for return-to-office plans

10/14/20

Four of the nation's largest banks updated their progress in recent days on return-to-office plans. The takeaway: Most workers won't be back anytime soon.

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Fed’s Quarles casts doubt on permanent capital relief for big banks

10/14/20

Regulators in the spring temporarily eased a key benchmark of balance-sheet strength to allow institutions to help customers navigate the pandemic, but Federal Reserve Vice Chairman Randal Quarles said it would be “premature” right now to suspend it for good.

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Stalled stimulus talks put bankers on edge

10/13/20

Executives are urging Congress and the White House to prioritize another round of help for businesses amid concerns that the continuing restrictions on reopening could lead to more loan defaults.

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Mortgage boom fuels strong third quarter at First Republic

10/13/20

The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations.

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Murky economy complicates credit outlook at JPMorgan Chase

10/13/20

The banking giant may be sitting pretty with plenty of money reserved for bad loans — or it could have to set aside billions more in coming quarters. It hinges on an ongoing U.S. recovery and the passage of a new stimulus package.

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Citi says 30% of its NYC workers want to return to the office

10/13/20

A survey sent to workers in New York, New Jersey and Connecticut last month found that most wanted to start by returning to the office just a few days a week.

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Citi posts its biggest quarterly profit of pandemic

10/13/20

Citigroup posted its biggest quarterly profit of the pandemic after reaping another windfall from trading bonds and expressing newfound confidence in the resilience of its loan book.

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Biggest U.S. banks keep assets at safest level in 35 years

10/09/20

Cash, Treasurys and other securities effectively guaranteed by the federal government now make up more than 35% of the combined balance sheets of the 25 biggest U.S. banks, according to data compiled by the Fed. That’s the biggest share in records dating to 1985.

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Jamie Dimon doesn’t see a return to normal until middle of next year

10/09/20

The JPMorgan Chase CEO, among the biggest Wall Street proponents of returning workers to the office, doesn’t see life returning to some form of normal until mid-2021 at the earliest.

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SBA streamlines forgiveness for PPP loans of $50,000 or less

10/09/20

Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.

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