Nashville, Tenn.-based FB Financial Corp. agreed to acquire Scottsville, Ky.-based FNB Financial Corp. in a cash-and-stock deal valued at about $51.9 million. The deal
Tallahassee, Fla.-based First Commerce CU is purchasing and assuming certain assets and liabilities of Nashville, Ga.-based Citizens Bank, a unit of Nashville Holding Co., in a deal
In West Virginia, Summit Financial Group Inc. agreed to acquire Cornerstone Financial Services Inc. and unit Cornerstone Bank Inc. in a stock-and-cash transaction
House Committee on Financial Services Chair Maxine Waters, D.-Calif., warned that the proposed removal of margin allocations for banks
The U.S. Securities and Exchange Commission intends to update the statistical disclosures
The SEC fined three units of Raymond James Financial Inc. $15 million for improperly charging
CEOs of 51 companies from the Business Roundtable urged the U.S. Congress to pass a comprehensive consumer data privacy law
JPMorgan is so far beating other Wall Street banks in the scramble for the coveted hedge funds
To enhance links with privately owned firms that may one day go public and deepen ties with large-cap clients, Citigroup is playing matchmaker between old companies yearning for growth and emergent startups in need of working capital through the Consumer Disruptive Growth Conference
Big asset managers BlackRock Inc. and Vanguard Group Inc. are failing as company stockholders in the call for businesses to adopt measures that combat climate change
In other parts of the world
Asia-Pacific: ADB confirms president resignation; investors eye new Chinese bank
Europe: Metro Bank execs probed; HSBC French unit under review; Lloyd's H1 profit up
Middle East & Africa: Israel's tight election; Moody's expects Islamic finance in Africa to grow
Now featured on S&P Global Market Intelligence
With few advantages to gain, only 4 banking institutions adopt CECL early: Only a handful of institutions have chosen to adopt the current expected credit loss accounting method ahead of their deadline, according to second-quarter 2019 call reports. The CECL standard will be implemented for large public companies in the first quarter of 2020, but hundreds of smaller institutions will have more time to implement it.
Divided Fed likely to cut rates, keep door open to more easing: The Federal Reserve is poised to lower interest rates again Sept. 18 and keep the door open to additional policy easing should trade tensions escalate further. The Fed's expected 25-basis-point rate cut would be its second of the year, but the decision will likely highlight a divide among Fed officials over how worried they should be about a potential U.S. economic slowdown, analysts say.
FDIC board sets community bank leverage ratio at 9%: The board of the Federal Deposit Insurance Corp. passed a final rule on the community bank leverage ratio, setting the minimum required CBLR at 9%.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng lost 0.13% to 26,754.12, and the Nikkei 225 declined 0.18% to 21,960.71.
In Europe, around midday, the FTSE 100 rose 0.05% to 7,324.54, and the Euronext 100 was up 0.16% to 1,089.03.
On the macro front
U.S. housing starts, the U.S. Energy Information Administration Petroleum Status Report, the Federal Open Market Committee meeting announcement, the FOMC forecasts and the Fed chair press conference are 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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