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In This List

Aircastle exploring alternatives; banks fear losing 15% of payments revenue

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good


Aircastle exploring alternatives; banks fear losing 15% of payments revenue

Aircastle Ltd.'s board is evaluating strategic alternatives, which may include a sale of the company. The company said it has retained Citigroup Global Markets Inc. as its financial adviser in the ongoing review and has received preliminary nonbinding expressions of interest from multiple third parties regarding a potential deal.

On Deck Capital Inc. posted third-quarter EPS of 11 cents, down from 12 cents in the year-ago period. T. Rowe Price Group Inc. reported third-quarter adjusted net income attributable to the company of $521.7 million, or $2.13 per share, up from $505.0 million, or $1.99 per share, in the year-ago period. Huntington Bancshares Inc. also reported quarterly results this morning.

Visa Inc. and Capital One Financial Corp. are also expected to report earnings today.

Federal Reserve Bank of New York has decided to increase the value of the overnight repurchase agreement options to at least $120 billion, effective Oct. 24. In a statement, the New York Fed said the increase is to ensure an ample supply of reserves even during periods of sharp increases in non-reserve liabilities and to help mitigate the risk of money market pressures.

Goldman Sachs Group Inc. dismissed Martin Weber, a senior banker in the Middle East, over alleged compliance violations, sources told Bloomberg News. Weber, who ran the investment bank's financing division in the Middle East and North Africa, was terminated after an internal review revealed that his actions related to due diligence were not acceptable for a person of his rank, according to the report.

North American banks fear losing up to 15% of their payments revenue over the next three years to big technology companies and financial technology upstarts, MarketWatch reports, citing a survey done by consulting firm Accenture. Of the expected $88 billion loss in North America payments revenue, about $82 billion is attributable to U.S. banks and $6 billion to Canadian banks. Continued pricing compression poses another threat to North American banks' payments revenue, according to the report.

U.S. District Judge Colleen McMahon is expected to put an end to a decade-old Libor-rigging scandal as two former Deutsche Bank AG traders, likely the last to be punished of 25 people charged in the matter, are set to be sentenced today for manipulating the benchmark interest rate, Bloomberg News reports. Matthew Connolly and Gavin Black are reportedly expected to get a "substantial" prison sentence.

Michael Cohn, former examiner for the U.S. Securities and Exchange Commission and chief compliance officer at GPB Capital Holdings LLC, has been charged with obstruction of justice and unauthorized access of a government computer, The Wall Street Journal reports. Cohn reportedly accessed and shared confidential information about the SEC’s investigation into GPB when he was still discussing a potential job at the private equity firm. Cohn has pleaded not guilty to the charges, according to the report.

In other parts of the world

Asia-Pacific: China to expand financing regulation; S&P: contagion risk in Indian finance up

Europe: Nordea, RBS post losses; Bankia, ING urged to merge; SocGen sells Nordic unit

Middle East & Africa: Zenith Bank results out; Bank Audi charged; Lebanese banks remain shuttered

Now featured on S&P Global Market Intelligence

Financial plumbing prone to clogging amid bank liquidity trap : Recent dislocation in the U.S. repo markets suggests regulations have effectively trapped big banks' liquidity and prevented them from taking advantage of the opportunity to lend at attractive rates.

For American Express, privileges of membership have a price: Growth in customer acquisition and engagement do not come without associated costs in today's intensely competitive U.S. credit card market.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng jumped 0.87% to 26,797.95, while the Nikkei 225 was up 0.55% to 22,750.60.

In Europe, around midday, the FTSE 100 increased 0.69% to 1,099.00, and the Euronext 100 increased 0.68% to 1,098.98.

On the macro front

The durable goods orders report, the jobless claims report, the PMI composite FLASH report, the new home sales report, the EIA natural gas report, the Kansas City Fed manufacturing index, the Fed balance sheet and the money supply 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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