In Texas, First Financial Bankshares Inc. agreed to acquire TB&T Bancshares Inc. and unit Bank and Trust of Bryan/College Station in a deal
In Mississippi, BancPlus Corp. is acquiring State Capital Corp. for about $136.5 million in total, or $38.75 per State Capital share. The deal
The U.S. Federal Reserve might lower banks' benchmark interest rates
Susan Schroeder, executive vice president and head the Department of Enforcement
JPMorgan Chase & Co. has breached the $500 billion mark in hedge fund balances
KeyCorp Chairman and CEO Beth Mooney
In a 2-1 vote, the National Credit Union Administration adopted a final rule that allows federal credit unions to make short-term loans of up to $2,000 as an alternative to payday loans with high interests. The final rule, called PALs II
After the success of its low-fee SPDR ETF Suite
Former Wedbush Securities Inc. investment bankers
Exchanges and custodians are finding it hard to adhere to stricter regulations and additional risk management requirements because of a type of digital assets called privacy coins
The current expected credit loss accounting standard, or CECL
In other parts of the world
Asia-Pacific: MUFG to cut HK, Singapore staff in half; key rate decisions across Asia
Europe: RBS names Rose CEO; SNB, Norges Bank rate moves; low demand for cheap ECB loans
Middle East & Africa: Qatar cuts rate; Lebanese bank self-liquidates; Attijariwafa Bank H1 profit up
Now featured on S&P Global Market Intelligence
Analysts expect Fed to begin regrowing balance sheet after October: Although temporary spikes in short-term borrowing rates seem to be subsiding, the Federal Reserve may announce at its October meeting that it will address liquidity shortages by growing its balance sheet again, analysts say.
Hostile interest rate picture sets off flurry of cuts to bank revenue forecasts: A punishing shift in interest rates has touched off a wave of downward revisions to revenue guidance just two months after banks set projections in second quarter earnings reports. Yields fell across the maturity spectrum, led by a drop of 55 basis points in 10-year Treasurys from the end of July to a low in late August. The moves deepened an ominous inversion in the curve.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng declined 0.13% to 26,435.67, while the Nikkei 225 rose 0.16% to 22,079.09.
In Europe, around midday, the FTSE 100 was up 0.20% to 7,371.36, and the Euronext 100 was up 0.47% to 1,099.32.
On the macro front
The Baker-Hughes Rig Count report is due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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