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The Thursday Express: North American financials

* Followingthe Panama Papers leak, the U.S. Treasury Department will "soon" issuea rulewhich will require banks to learn the identities of the owners of shell companies,Reuters reports.

* TheFederal Reserve had been raisingconcerns with Goldman Sachs since early 2014 about the bond deals it helpedput together for 1MDB, warning the firm that these could have put its reputationat risk, sources told The Wall Street Journal.

* TheCitigroup board's personnel and compensation committee modified the granted toexecutives in February 2016 following shareholder concerns. Institutional ShareholderServices, however, believes the changes were not enough and recommended that Citishareholders to voteagainst the compensation plans at the annual meeting.

* FifthThird Bancorp began offering earlyretirement buyouts to employees in the first quarter as a cost-cutting initiative,the Cincinnati Business Courier reports.

* Billings,Mont.-based First Interstate Bank ($8.70 billion), a unit of First Interstate BancSystemInc., is buying Flathead Bank of Bigfork, Montana ($231.6 million) from FlatheadHolding Co. of Bigfork in a cash deal valued at about $34.2 million.

* FundingCircle, LendingClub Corp. and Prosper Marketplace Inc. announced the of the Marketplace LendingAssociation, a U.S. nonprofit membership organization created to promote responsiblebusiness practices and sound public policy to benefit borrowers and investors.

* Insurersand reinsurers issued about $2 billionin catastrophe bonds in the first quarter, an increase of 35% compared to the year-agoperiod, Property Claim Services said in its quarterly catastrophe bond report, citingdata from the Artemis Deal Directory.

* Totaleconomic losses sustained to property, infrastructure and agriculture from the convectivestorm and flood damage across the U.S. during the month of March were anticipatedto approach $3.5 billion,according to the latest monthly Global Catastrophe Recap report from Aon Benfield'sImpact Forecasting.

* InCanada, Katie Danielsis leavingher post as deputy director of corporate finance at the Ontario Securities Commissionto join the Canada Pension Plan Investment Board as managing director and head ofcompliance, the Financial Post reports.With Daniels' resignation, the securities regulator now has a third senior positionvacant, according to the report.

* TheOttawa-based Financial Transactions and Reports Analysis Centre of Canada, knownas Fintrac, fined an unnamed Canadian bank approximately C$1.1million for not reporting a suspicious transaction and various money transfers,the Financial Post reports.

* RoyalBank of Canada, one of the named financial institutions in the Panama Papers, hasset up a teamto review its records, Reuters reports. In addition, CEO David McKay said that thebank is not the unnamed Canadian bank which was fined C$1.1 million by Fintrac,according to the report.

* TheU.S. Senate Committee on Banking, Housing and Urban Affairs will meet April 7 inan open session to conduct a hearingtitled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress,"with CFPB Director Richard Cordray as witness.

* Onthe same day, the committee will meet in an executive session to consider the nominationsof Jay Neal Lerner to be an inspector general for the FDIC, Amias Moore Gerety tobe an assistant secretary of the Treasury, Matthew Rhett Jeppson to be directorof the U.S. Mint, and Lisa Fairfax and Hester Maria Peirce to be members of theSEC.

The Daily Dose: Express Editionis updated as of 6:30 a.m. ET. Some external links may require a subscription.