Additional interest rate cuts will reduce the strain of unrealized losses and bring greater balance sheet flexibility to regional banks, which are sitting on record-high capital levels. For the second quarter of 2024, large regional banks' aggregate c ommon equity Tier 1 ( CET1) ratio exceeded 13% for the first time since 2015, according to data compiled by S&P Global Market In...
READFinancial technology companies are increasingly looking into the possibility of getting bank charters, though few have actually taken the plunge. Heightened regulatory scrutiny in banking-as-a-service (Baas) has fintechs taking fresh stock of their reliance on bank partners. However, if deploying deposits for lending is not core to their business models, fintechs have tended to...
READBeleaguered Republic First Bancorp Inc. became the first bank failure of 2024 after asset seizures reached a record high in 2023. The Pennsylvania Department of Banking and Securities closed the Philadelphia -based company's bank subsidiary April 26 and appointed the Federal Deposit Insurance Corp. as receiver. The FDIC entered into an agreement in which Fulton Financial Corp. ...
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