by Ken Chase | Apr 25, 2023 | Banks, News
First Republic Bank shares plummeted to record lows on Tuesday, on the heels of the company’s recently released earnings report. That report confirmed that the bank’s deposits declined by more than 40% in the first quarter of 2023. Tens of billions of dollars in...
by Ken Chase | Apr 22, 2023 | Banks, News
In a news report released on April 21, Moody’s Investors Service downgraded the ratings of 11 regional banks. The company noted in its most recent assessment of the banking industry that the sector is continuing to experience instability due to high inflation and bank...
by Ken Chase | Apr 19, 2023 | Banks, News, Uncategorized
Despite their history of resistance to adopting open source software, banks are now increasingly embracing open source technology as they seek to counter the emerging challenge posed by fintech. Though many banks are still slow to adopt these innovations, most experts...
by Ken Chase | Apr 13, 2023 | Banks, News
International Monetary Fund (IMF) Chief Economist Pierre-Olivier Gourinchas recently told CNBC that the global economy continues to face severe challenges to growth. Despite an array of downside risks, however, he urged policy makers to continue to use the tools they...
by Ken Chase | Apr 5, 2023 | Banks, News
In his annual letter to JPMorgan Chase shareholders, longtime CEO Jamie Dimon argued that the current financial crisis in the banking sector is “not over yet.” Though he acknowledged that the recent shocks to the industry are in no way similar to those seen during the...
by Ken Chase | Apr 3, 2023 | Banks, News
Switzerland’s office of the attorney general has announced that it is opening an investigation to determine if any criminal laws were violated during the recent Credit Suisse acquisition by UBS. The investigation will reportedly examine the actions of regulators,...
