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In This List

JPMorgan mulls Quorum spinoff; BOLC in Tennessee merging with Alabama bank

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

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

JPMorgan mulls Quorum spinoff; BOLC in Tennessee merging with Alabama bank

Following the U.S. Senate's approval, a bipartisan, $1.3 trillion spending bill that will fund the government through Sept. 30 is now headed to President Donald Trump's desk for signing.

In regulatory news, the Consumer Financial Protection Bureau issued a request for information on the bureau's inherited regulations and inherited rulemaking authorities. This RFI will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities.

JPMorgan Chase & Co. may spin off Quorum, its customized blockchain platform, within the year, on the belief that it will boost external adoption, the Financial Times reports. Sources told the paper that Quorum's close association with JPMorgan makes rival banks reluctant to use the platform.

Goldman Sachs Group Inc. Chairman and CEO Lloyd Blankfein said The Wall Street Journal's report earlier this month on his possible retirement as early as the end of 2018 was "more of a wishful thought than anything." During a public appearance in Boston, Blankfein said that while the company narrowed down candidates for his possible successor, nothing was said about his tenure, according to Reuters.

Fayetteville, Tenn.-based BOLC Corp. seeks to merge with Hazel Green, Ala.-based North Alabama Bancshares Inc.

And in cryptocurrency news, Shorcan Digital Currency Network, a TMX Group Ltd. unit, has partnered with Paycase Financial to launch a cryptocurrency brokerage service focused on bitcoin and ether. Paycase Financial offers a mobile-first remittance platform.

In other parts of the world

Asia Pacific: Asian central banks respond to US Fed hike; AXA names Thai ops CEO

Europe: Aviva abandons preference share plan; Basel cuts forex capital requirements

Middle East & Africa: Qatar Central Bank hikes deposit rate; Equity Group posts FY'17 profit rise

The day ahead

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

In Asia, the Hang Seng decreased 2.45% to 30,309.29, and the Nikkei 225 declined 4.51% to 20,617.86.

In Europe, around midday, the FTSE 100 was down 0.56% to 6,913.57, and the Euronext 100 was down 1.37% to 995.91.

On the macro front

The durable goods orders report, the new home sales report and the Baker-Hughes Rig Count report are due out today.

The Daily Dose is updated as of 7:30 a.m. ET. Some external links may require a subscription.

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