According to a report by Bloomberg, bank stocks are on the rise after Donald Trump’s election victory drove up expectations for the industry’s profits, but job cuts are still on the table for many banks.
The Wall Street Journal reported that 20 of the world’s biggest banks have lost 25% of their aggregate market value — approximately $465 billion — according to data from FactSet.
MarketWatch reported, citing a survey released by the Federal Reserve, that banks are seeing heightened demand for loans; however they are not doing any major alterations to their standards.
U.S. regulators warned 11 large banks that the plans submitted by first-wave filers are not credible and do not facilitate an orderly resolution under the U.S. bankruptcy code.
Bloomberg reported the FDIC is examining whether the largest banks are shifting trades overseas in a way that may undermine rules designed to prevent a repeat of the 2008 crisis.
SNL Financial reports that the number of undercapitalized banks fell to the lowest level in 17 quarters at the end of Q1/13, with more banks escaping undercapitalized territory through positive means.
According to the Biz2Credit index, loan approval rates for small businesses by small banks jumped for the fourth straight month in March, reaching a new high of 50.8%.