M&T Passes Fed Stress Test
The nation’s largest banks have strong capital levels and would be able to continue lending to households and businesses during a severe recession, according to the Federal Reserve’s annual stress test.
Fed Stops Big Banks from Buying Back Stock, Caps Dividends
A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday.
State Street To Pay $64M To Feds To Settle Fraud Charges
State Street Corp. has agreed to pay more than $64 million to resolve the government’s criminal investigation into a scheme to defraud several of the bank’s clients through secret commissions applied to billions of dollars in securities trades.
Oh, Canada! Canadian Finance Dept. Taps State Street To Manage Swap Program
Canada’s Department of Finance recently selected State Street Corp. to act as the collateral manager and custodian for the government’s currency swap program. “We are very pleased to be selected by the Department of Finance and the Bank of Canada to support their...
