Editor's note: Today's edition of the Daily Dose was published late due to technical issues. We apologize for the inconvenience.
Wells Fargo & Co. is set to hire more employees
A team of three executives at OUR MicroLending, a community development financial institution in Hialeah, Fla., has applied with the Federal Deposit Insurance Corp. to form a bank, to be called OUR Community Bank, that would focus on Hispanic and Latino customers in low- and moderate-income communities, American Banker reports, citing a filing. The planned bank
The Federal Reserve finalized Oct. 10 its new regulatory framework
Amid an increasing number of family offices or private investment funds in Hong Kong and Singapore, JPMorgan Chase has set up its first Asia trust company
In Texas, Dallas-based Oakwood Bancshares Inc. intends to acquire Snyder-based Community Bank of Snyder, according to a Federal Reserve release. As of June 30, Oakwood Bancshares had total assets of $328.6 million and Community Bank of Snyder had total assets of $109.3 million, based on S&P Global Market Intelligence data.
After a similar lawsuit against it in April 2018, Newport Beach, Calif.-based Pacific Investment Management Co. LLC faces another gender and racial discrimination
The Consumer Financial Protection Bureau is extending for another two years until Jan. 1, 2022, the current temporary coverage threshold of 500 open-end lines of credit under the Home Mortgage Disclosure Act. The new rule was subjected to public comment as a proposal in May.
In other parts of the world
Asia-Pacific: JPMorgan sets up Singapore firm; China fines 4 banks; Vietcombank in Australia
Europe: Tullett Prebon fined £15.4M; Brexit 'pathway'; Euronext eyes revenue growth
Middle East & Africa: National Bank of Kuwait's Q3 results out; partial sale of UAE's Najm explored
Now featured on S&P Global Market Intelligence
North Carolina loses more than 1% of total branches in September: U.S. banks and thrifts closed 226 branches and opened 80 in September for a net 146 closures, according to S&P Global Market Intelligence data.
Margin pressure threatens to crunch earnings in Q3 reports for US banks: Pressure on bank net interest margins intensified in the third quarter as front-end rates fell with Federal Reserve cuts and the yield on 10-year Treasurys briefly dropped below 1.5% on fears over the economic outlook.
Banks offer more visibility into CECL's effects: Investors and analysts are getting a better idea of how a new accounting standard will affect banks' balance sheets and deal metrics.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng climbed 2.34% to 26,308.44, and the Nikkei 225 rose 1.15% to 21,798.87.
In Europe, around midday, the FTSE 100 was up 0.60% to 7,210.66, and the Euronext 100 was up 0.83% to 1,085.79.
On the macro front
The import and export prices report, the consumer sentiment report and the Baker-Hughes Rig Count 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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