Leading banks and credit card giants are reportedly now participating in a tokenized deposits pilot project launched by industry body UK Finance. According to a new report by Bloomberg, companies that include Barclays, Citigroup, Mastercard and Visa are teaming up for the effort. The project aims to create a commercial banking system for tokenized deposits […]
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Eight financial giants are shelling out tens of millions of dollars to settle a decade-long whistleblower lawsuit. JPMorgan Chase, Bank of America, Citigroup, Morgan Stanley, Fifth Third Bancorp, Barclays, Bank of Montreal (BMO) and William Blair were sued in 2014, accused of reaping millions in illicit profits by rigging interest rates on municipal bonds. The […]
The post JPMorgan Chase, Bank of America and Six Financial Giants Pay $70,000,000 Settlement Over Allegations of ‘Widespread Fraud and Collusion’ appeared first on The Daily Hodl.
Optimism in the US banking industry is being threatened by a growing pile of bad loans, putting pressure on the sector’s biggest players. Bloomberg analysts say non-performing loans, or loans to debtors that haven’t made a payment in over 90 days, rose to a combined $24.4 billion in the last quarter of 2023 for JPMorgan […]
The post JPMorgan Chase, Bank of America, Wells Fargo and Citigroup Risk Losing $24,400,000,000 As Number of Troubled Loans Erupt: Report appeared first on The Daily Hodl.
Hundreds of billions of dollars worth of fines have been paid by the four biggest banks in the US as JPMorgan’s chief executive sounds off against digital assets, saying they are for criminals. According to corporate misconduct data aggregator Violation Tracker, the big four banks of the US – Bank of America, Wells Fargo, Citigroup, […]
The post $181,034,960,000 in Fines Paid by Big Four US Banks As JPMorgan CEO Jamie Dimon Says Crypto’s for ‘Criminals’ appeared first on The Daily Hodl.
JPMorgan Chase has quietly revealed tens of billions of dollars in losses on securities, according to a new report on the company’s overall balance sheet. The banking giant is now stuck with roughly $40 billion in unrealized bond losses as of Q3 of this year, which is a 20% rise over the previous quarter, reports […]
The post $40,000,000,000 in Unrealized Losses Hits JPMorgan Chase As Bank of America, Wells Fargo and Citigroup Face Exposure to US Treasuries: Report appeared first on The Daily Hodl.
Financial services and banking giant Citigroup is reportedly launching a unique private blockchain for its clients. According to a new Bloomberg report, Citigroup has unveiled Citi Token Services, a product aimed at tokenizing client deposits. The service is reportedly focused on improving cash management and trade-finance capabilities, such as increasing the speed of transactions. Says Citigroup’s […]
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The largest banks in the US are reportedly taking big hits to their bottom line as borrowers default on billions of dollars worth of loans. Citing data compiled by Bloomberg, the Financial Times says that JPMorgan Chase, Bank of America (BofA), Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley appear to have written off a […]
The post JPMorgan Chase Suffers $1,100,000,000 Loss As Six US Banks Execute Massive Write-Offs: Report appeared first on The Daily Hodl.
The four largest banks in the US now have a total of $205 billion in unrealized losses on their balance sheets, according to a new report. Bank of America, Wells Fargo, JPMorgan Chase and Citigroup have compiled the losses due to bad bets in the bond market, reports the Financial Times, citing fresh data from […]
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XRP is printing a stagnant price performance as a major bank reportedly reevaluates its partnership with a company Ripple purchased earlier this year for $250 million. According to a new report by Bloomberg, anonymous sources familiar with the matter say that financial services titan Citigroup is reconsidering its partnership with Swiss fintech company Metaco. It […]
The post XRP Stalls As Citigroup Reconsiders Partnership With Company Ripple Bought for $250,000,000: Report appeared first on The Daily Hodl.
After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that the cash infusion from 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares […]