SEC Commissioner Hester Peirce is seeking to end the Consolidated Audit Trail, or CAT
Chairman of the Senate Banking Committee, Sen. Mike Crapo, R-Idaho, is looking to amend the Senate version of a cannabis banking bill,
Appaloosa Management LP, the Florida-based
PayPal Holdings Inc. pulled out of Facebook Inc.'s initiative to launch its digital coin, Libra
Elsewhere, the European Commission is asking Facebook to detail how Libra will deal with money laundering and counter-terrorist financing rules, the Financial Times reports. The Commission is also seeking information on how Libra would manage its reserves and safeguard customer data, among other things.
Greece's Eurobank Ergasias SA is struggling to divest an 80% stake in loan recovery business Financial Planning Services to Pacific Investment Management Co. LLC as the parties failed to reach an agreement
Malaysia is currently not in talks with Goldman Sachs Group Inc. over the recovery of the funds lost in the 1Malaysia Development Berhad scandal, Reuters reports, citing Malaysian Minister of Finance Lim Guan Eng. In January, Lim said the country would consider dropping charges against the investment bank if it paid $7.5 billion as reparation.
Investment banking heavyweights Goldman Sachs and Morgan Stanley are holding sessions on direct listings
In other parts of the world
Asia-Pacific: HKEX to up LSE offer; Yes Bank in talks with tech firms
Europe: HSBC may cut 10,000 jobs; Bank Millennium could see €1.6B Swiss franc loans hit
Middle East & Africa: EU to drop UAE from blacklist; Uganda licenses 2 new banks; S&P acts on Morocco
Now featured on S&P Global Market Intelligence
US bank bond portfolios move deep in the black, boosting tangible book values: Long-term rates have fallen more than 150 basis points since the recent peak in early November 2018 amid concerns about slowing global growth and the brewing trade war between the U.S. and China. The Federal Reserve has responded with a pair of rate cuts in July and September, and economists are entertaining the possibility of another rate cut before year-end.
Brick-and-mortar Wisconsin bank changes name to match digital offering: Wausau, Wis.-based River Valley Bancorp. Inc. initially had two subsidiaries: its brick-and-mortar operation under the name River Valley Bank, and its separate online banking operation under the name IncredibleBank. When it came time to merge the two units into one, the 52-year-old bank went with its digital offering's moniker.
Durbin Amendment keeping a lid on largest NJ community banks: The median return on average equity for New Jersey's banks and thrifts with less than $10 billion in assets was 5.62% in the second quarter, down 46 basis points year over year and well below the median 7.60% ROAE for mid-Atlantic community banks and 9.59% for all U.S. community banks.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Nikkei 225 was down 0.16% to 21,375.25.
In Europe, around midday, the FTSE 100 was up 0.39% to 7,183.19, and the Euronext 100 rose 0.45% to 1,069.87.
On the macro front
The TD Ameritrade IMX report and the Consumer Credit report 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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