Units of UBS and Bank of America each passed a European Central Bank stress test and an asset quality review to determine whether they are sufficiently capitalized, which were required because of the banks’ decisions to relocate business operations to Europe from the U.K. due to Brexit.
U.S. banks may speed up plans to close branches nationwide, as a new report from financial-services research firm Novantas shows branch-based sales and transactions have slowed significantly in the past 10 weeks amid the pandemic and digital-based banks are seeing a surge in usership.
HSBC has introduced the ability for some clients to contact their customer service in a fashion akin to texting as the continued impact of the COVID-19 pandemic leads banks to embrace new ways of communicating with their clients with many retail branches closed and phone lines tied up.
Genworth MI Canada Inc, the country’s largest private mortgage insurance company, said Monday that it intends to hold steady on its requirements in a direct response to a government-backed competitor’s recent decision to toughen standards.
Berkshire Hathaway Specialty Insurance on Monday launched a new liability insurance product in France meant to mitigate environmental risks, the company’s first policy of this kind.
New central bank data from Japan shows that bank lending rose at a record annual rate in May as financial institutions continue to face short-term funding needs that have been exacerbated by the COVID-19 pandemic.
Claims on representations and warranties insurance policies surged by 400 percent over a four-year period, as coverage for mergers and acquisitions deal terms rapidly expanded and losses increased, Aon found in a new study focusing on the North American market.
A federal appeals court has overturned the most recent decision by the U.S. Securities and Exchange Commission in a decade-long dispute between major securities exchanges and industry groups, concluding that the SEC erred in ruling against the exchanges’ increase of fees paid by traders to access data.
One of Canada’s largest investment firms, Brookfield Asset Management, will expand its renewable-energy footprint in Asia with the purchase of a solar business from India’s Emami Group.
Munich Re’s ERGO Group unit is set to enter China’s property and casualty insurance market through a planned investment in Taishan Insurance, in a deal that will lead to the German firm acquiring a nearly 25% stake.
Private equity firm Blackstone said Monday it has lowered its offer for Dutch bank NIBC by about 300 million euros after the coronavirus pandemic threw the deal into doubt and concerns surfaced that the transaction would not be approved by regulators.
Estonia continues to rid itself of Danske Bank’s presence following the company’s money laundering scandal, with local institution LHV now set to purchase the bank’s corporate and public sector loans, according to a statement LHV released Monday.
U.S. private equity firm Silver Lake is doubling down on Indian telecom and technology giant Reliance Jio Platforms, announcing a 45 billion rupee ($600 million) investment on Friday, as investor appetite in certain sectors of the country's economy remains strong.
An Assured Guaranty subsidiary said Friday that it is backing $343 million in “solar bonds” to photovoltaic solar projects in Spain, in a move that comes as the country’s solar industry rebounds from years of stagnation.
U.S. Bank is planning to rebuild damaged branches in its home city of Minneapolis and provide $117 million for racial equality initiatives in the latest effort by financial firms to help repair national tensions sparked by the death of George Floyd.
A key group of catastrophe experts has revised predictions for the 2020 hurricane season upward to 19 named storms from 16, putting insurers on notice of worsening loss prospects from weather events.
Credit Suisse said Friday it will launch a new thematic fund focused on financing environmentally friendly companies, as firms continue to expand their socially responsible investment offerings.
Canadian regulators are trying to make raising equity capital easier for companies by proposing regulatory changes that would allow for faster issuance of new shares.
Australia on Friday moved to severely ramp up scrutiny of foreign investors, in a move that could impact private equity deals such as a potential acquisition of Virgin Australia, the nation’s second-largest airline.
HSBC’s asset management division added to the burgeoning sustainable funds space on Friday with the launch of three exchange-traded funds.