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Friday, July 13, 2012, 2:32 PM JPMorgan (JPM +5.4%) CIO Risk Manager Irvin Goldman has resigned in response to major trading losses and a criminal investigation. Bank stocks continue to shoot higher (XLF +2.4%), as the Street gives a thumbs-up to JPMorgan and Wells Fargo's (WFC +3.1%) Q2 reports (I, II). (more on JPM) 9 Comments [Financials, On the Move, Breaking News]
Monday, January 23, 2012, 3:06 AM France and Germany will reportedly call today for a relaxation of global bank capital rules to ensure lending isn't choked off. The countries will urge special treatment for banks that own insurance companies, and call for a three-year delay to the mandatory deadline to disclose leverage ratios. 6 Comments [Global & FX, Financials]
Thursday, January 19, 2012, 9:40 AM Defining overbought as being more than 5% above a 50-day moving average, Bespoke says 24% of tracked ETFs fit the bill. Leading the list is the homebuilders (XHB), more than 13% above its 50 day MA; Brazil (EWZ) leads the country ETFs, 8.2% above. A few more days of market gains and look for talk about the entire market being overbought. Comment! [Quick Ideas]
Thursday, December 15, 2011, 3:20 AM A new study suggests European banks will need to raise nearly €200B in new capital, or cut their balance sheets by nearly 20%, in order to meet Basel III requirements that start taking effect in 2013. With credit markets increasingly tight, this will be no small feat. (U.S. and Asia banks face a collective shortfall of less than €70B.) 3 Comments [Global & FX, Financials]
Thursday, October 6, 2011, 10:30 AM Professional bear Bill Fleckenstein turns bullish on banks. "I'm going to risk looking really stupid. I think the drama in the U.S. banks is overdone .. Lots of people who didn't see 2008 coming are now sure they will see a replay. If the ECB starts to print finally, we will see an absolutely hellacious rally." 3 Comments [Financials, Quick Ideas]
Tuesday, August 9, 2011, 11:35 AM The market's plunge is disrupting what's been a very strong year for financial dealmaking. In addition to postponed IPOs, M&A deals such as Cooper Industries' (CBE) acquisition of Laird (LARRF.PK) have been put on hold. With trading revenues having already crashed, reduced deal activity is the last thing major Wall Street banks need to see. Comment! [M&A, Financials]
Tuesday, August 9, 2011, 5:56 AM Market turmoil is hitting investment banking activity. Cornerstone OnDemand (CSOD) withdrew its Goldman (GS) led secondary offering, despite reporting 90% bookings growth in Q2. IPOs are off the table. But i-banks and broker dealers (IAI, KCE) can still benefit from heavy trading. Comment! [Financials]
Monday, August 1, 2011, 4:49 AM Major European hedge fund Lansdowne Partners has reportedly sold its entire $850M stake in Goldman Sachs (GS), underlining concerns about banking prospects due to regulatory changes. The divestiture has echoes of Lansdowne's exit from the industry in 2008, ahead of the financial crisis. Comment! [Financials, M&A]
Tuesday, June 14, 2011, 10:57 AM The FDIC approves subjecting big banks to the same minimum capital standards as community banks, doing away with big banks' ability to substitute "internal management assumptions" about how much capital they need around. It won't require new capital, Sheila Bair says, but will act as insurance "when the crisis is forgotten" that levels will be safe. 1 Comment [Financials, Breaking News]
Friday, June 10, 2011, 11:28 AM The Fed floats the idea of annual capital reviews for banks with over $50B in assets - including any details for dividend hikes or stock buybacks, which would require central bank approval. In effect? It's a formalization of the most recent stress test processes. Now what will Jamie Dimon (JPM) say? 11 Comments [Financials, Quick Ideas]
Tuesday, June 7, 2011, 6:42 AM The Fed is said to be in favor of a Basel III proposal calling for a maximum capital surcharge of three percentage points on the largest global banks; financial stocks took a beating yesterday on fears the surcharge might run as high as 7%. 3 Comments [Financials, Top Stories]
Monday, September 20, 2010, 12:40 PM Stock offerings down 15%, bond issuance down 25%, revenue slipping - Wall Street's still making plenty but its main businesses are slowing down, causing analysts to revisit their profit forecasts for financials. 4 Comments
Friday, June 11, 2010, 8:16 AM Fed's Hoenig backs Senator Blanche Lincoln's proposal to bar commercial banks from swaps trading. In a letter to Lincoln, Hoenig said tradings in swaps and derivatives creates risks that "are generally inconsistent with the funding subsidy afforded institutions backed by a public safety net,” and that "such activities should be placed in a separate entity that does not have access to government backstops." 2 Comments

KCE SPDR S&P Capital Markets ETF

KCE

SPDR S&P Capital Markets ETF