The banking industry’s net interest margin increased in the third quarter as the increase in loan yields exceeded the increase in the cost of deposits for the first time since the second quarter of 2023. “As a result, the industry’s net interest margin increased 7...
A global banking watchdog introduced new guidelines covering counterparty credit risk (CCR) management. The regulations issued by the Basel Committee on Banking Supervision replace the committee’s existing regulations from 1999, according to a Wednesday (Dec. 11) press release. “The guidelines provide a supervisory response to...
Non-bank financial institutions like pension funds, insurance companies, hedge funds and money market funds could present risks to financial stability as their role in the financial system grows, Dave Ramsden, deputy governor, markets and banking at the Bank of England, said Monday (Dec. 9). In...
Banks rely on core tech to handle the basics: transactions, deposits, loans and more. But the kicker is that most of these systems were built decades ago. As in 1980, not 2010. Back then, “digital transformation” through the lens of a financial institution (FI) meant...
If banks can’t give their customers the financial services they want or the experiences they expect, those customers will go and look for them elsewhere. In an increasingly digital-first economy, community banks and credit unions, often overshadowed by their larger counterparts, are increasingly turning to...
Deutsche Bank CEO Christian Sewing said Wednesday that German businesses need less regulation, a more competitive corporate tax structure and greater certainty on energy prices. Speaking at a Financial Times (FT) global banking summit in London, Sewing said: “We clearly need certain structural reforms,” the...
British bank NatWest is launching a program to help scale the country’s FinTech startups. The lender’s FinTech Growth Program, announced Wednesday (Dec. 4), is designed to give fledgling companies the resources, networks and expertise of a large bank, with the hope that participants will help bolster NatWest’s innovation...
Wells Fargo is reportedly selling its San Francisco headquarters as its leadership heads east. The banking giant’s office in San Francisco’s Financial District could go up for sale as soon as this month, the Wall Street Journal (WSJ) reported Wednesday (Dec. 3), citing sources familiar...
The Office of the Comptroller of the Currency (OCC) rated three out of 19 financial institutions as “outstanding” in its latest list of Community Reinvestment Act (CRA) performance evaluations. The other 16 financial institutions on the list were rated “satisfactory,” the regulator said in a Monday (Dec....
