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ZacksCiti, BofA, Others Eye Swiss Expansion Post Credit Suisse Buyout
After Credit Suisse's takeover by UBS, banks like BNP Paribas (BNPQY), Deutsche Bank (DB), Citi (C) and BofA (BAC) target Switzerland for business expansion.
ZacksJPMorgan (JPM), Others Living Will Plan Chided by Regulators
JPMorgan (JPM), Citigroup (C), Bank of America (BAC), and Goldman Sachs (GS) 'living wills' plan is criticized by U.S. regulators. The firms are to submit plans to correct inadequacies by September.
ReutersCiti's 'living will' flaws manageable but distracting, J.P.Morgan says
Citi was one of four banks whose living wills were found lacking by the U.S. Federal Reserve and the Federal Deposit Insurance Corp due to shortcomings tied to their derivatives portfolios. "It adds to the list of issues that management needs to focus on," the brokerage said, noting reports about the setbacks Citi is facing over its consent orders and a recent lawsuit by a former managing director who alleged she was fired for opposing what she said were attempts to give regulators false information. Citi has said the lawsuit is "without merit" and vowed to "vigorously defend against it".
