Australian Securities Exchange extends emergency capital-raising relief measures

The Australian Securities Exchange said Thursday that it will be extending its temporary emergency relief measures through the end of November in order to continue to support the Australian economy during the ongoing COVID-19 pandemic.

ING says pandemic accelerating Dutch bank branch closures as more consumers go digital

Amsterdam-based ING Group said Friday it will close about a quarter of its bank branches in the Netherlands as lockdown measures aimed at containing the coronavirus outbreak have hastened the adoption of online banking.

BTIG expects employees to work from home through 2020

Brokerage firm BTIG said Friday it expects its U.S. employees to continue working remotely for the rest of the year, joining the ranks of employers who say their staff have adjusted to the new normal and prefer to play it safe as transmission rates spike in parts of the country.

Franklin Templeton to close Canadian version of senior loan ETF

Franklin Templeton’s Canadian arm said on Friday that it will shutter the Canadian dollar hedged version of Franklin Liberty Senior Loan ETF (the ticker symbol is FLSL), with the closure set to be completed in September.

Chief executive at BNC National Bank steps down

The president and CEO of BNCCORP, Inc., the holding company of BNC National Bank, has stepped down after seven years in the role, the company said Friday, marking the second leadership change in less than a year for the North Dakota bank.

Finance trade groups urge Congress to pass PPP forgiveness bill

Dozens of state and national financial trade groups sent letters to U.S. lawmakers on Thursday in support of the Paycheck Protection Program Small Business Forgiveness Act, which would provide the majority of PPP small business recipients with an easier loan forgiveness application process and potentially save banks millions of dollars.

Fintech Marqeta, backed by Goldman Sachs and Visa, eyes IPO: Reuters

Marqeta, a fintech that provides a platform for card issuers and whose backers include Visa and Goldman Sachs, is exploring an initial public offering, Reuters reported on Thursday.

Lloyd’s to relinquish US admitted licenses and focus on US reinsurance, E&S markets

Lloyd’s of London said Friday that it plans to stop accepting admitted market accounts in the U.S. in a year as part of an effort to “strengthen its focus” on the U.S. reinsurance and excess and surplus insurance market.

Yes Bank sets 55% discount for further public offering as it looks to continue rebound

India’s beleaguered Yes Bank set a significant discount in the floor price of its INR 150 billion (approximately US$2 billion) further public offering, a regulatory filing showed Friday.

Julius Baer poaches UBS veteran for new private investment unit

Julius Baer said Friday that it is creating a new unit for direct private investments for its ultra-wealthy clients, with the new division’s head joining from Switzerland’s largest bank, UBS.

Wells Fargo names Kristy Fercho as new Home Lending head

Wells Fargo, the largest home lender by volume in the U.S., said Thursday that it has named financial services veteran Kristy Fercho as the new head of its home lending division, where she will succeed the retiring Michael DeVito.

Supreme Court to weigh government’s conservatorship of Fannie Mae, Freddie Mac

The U.S. Supreme Court said Thursday it will weigh the legality of government stewardship of Fannie Mae and Freddie Mac, which transferred shareholders’ dividends to the Department of Treasury following the 2008 financial crisis in return for billions of dollars of federal investment.

Fintech SoFi makes renewed pitch to regulators for bank charter

Financial technology company SoFi applied for a national bank charter with the U.S. Office of the Comptroller of the Currency on Thursday, after an earlier attempt in 2017 for an industrial loan charter was withdrawn amid controversy involving former executives.

JPMorgan Chase, Ping An invest in supply chain payments fintech Taulia

The investment units of JPMorgan Chase and Ping An Insurance agreed to invest in California payments platform Taulia, as firms see increasing value in supply chain finance amid pandemic-related disruption.

Hong Kong exchange unveils inaugural swap clearing service using HIBOR alternative

Hong Kong Exchanges and Clearing has launched the first clearing service using an alternative to the Hong Kong Interbank Offered Rate, or HIBOR, reflecting local regulatory efforts to nudge banks away from the old reference rate regime.

Blackstone raises $4.6B for new fund focused on life sciences industry

Blackstone closed its first fund dedicated to life sciences on Thursday, raising $4.6 billion in capital, as the private equity firm readies itself to become a significant player in the volatile and growing sector.

NY suit against Bitfinex over $850M in lost funds will go forward, appeals court rules

A New York appeals court ruled Thursday that cryptocurrency exchange Bitfinex must face the state’s claims the company engaged in a coverup to hide the loss of $850 million in client and corporate funds connected to one of the world’s most valuable digital currencies.

Banks’ declining interest revenue, asset quality will accelerate digitization: S&P Global

The global banking sector may see structural shifts that last beyond the COVID-19 pandemic, as declining revenues and asset quality push banks toward consolidation and digitization, according to S&P Global in a mid-year report released Thursday.

HSBC Bank Canada provides country’s first green loan

HSBC Bank Canada has issued the country’s first green loan, the company said Thursday, converting an existing 71.5 million Canadian dollar (about $52.6 million) loan to Vancouver-based Concert Properties and building on HSBC’s sustainability goals.

Chubb calls for government role in covering future pandemic business losses

Insurance company Chubb said in a proposal released on Wednesday that there should be a governmental role in covering business-interruption losses caused by pandemics, arguing that private insurers are unable to provide coverage on their own.

About Us · Terms of Use

Copyright © 2020 Fastinform, Inc.