Rapidly rising interest rates have boosted its net interest income in recent years. Higher interest rates are also why it has $113 billion in unrealized losses on its loan portfolio.
Here is a rundown of some of the Friday announcements from U.S. banks that were subject to this week's stress tests.
Big banks plan to pay out more to shareholders after passing regulators' annual stress test results earlier this week.
U.S. banking giants announced plans to raise their third-quarter dividends on Friday after proving that they have enough capital to withstand severe economic and market turmoil in the Federal Reserve's annual health check.
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Ten large banks including Bank of America , Goldman Sachs and JPMorgan Chase will pay $46 million to settle a long-running antitrust lawsuit accusing them of conspiring to rig the now $465.9 trillion market for interest rate swaps.
Oppenheimer analysts cautioned investors not to “burn too many brain cells on deciphering the Fed's logic” as analysts gave the annual exercise mixed reviews on Thursday.
Big U.S. banks had enough capital to weather a potentially severe economic downturn but some of their risky businesses could hypothetically take a major hit this year, according to results of the Federal Reserve's annual stress test.
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Big U.S. banks survived a hypothetical 40% drop in commercial real estate values as a part of the U.S. Federal Reserve's annual health test, easing fears about the banking sector as landlords struggle in a higher-for-longer interest rate world.
The biggest U.S. banks would have enough capital to withstand severe economic and market turmoil, the Federal Reserve's annual "stress test" exercise showed on Wednesday, but firms faced steeper hypothetical losses this year due to riskier portfolios.
U.S. lenders have sufficient capital to withstand an economic catastrophe, the central bank determined.