Explainer: How a massive options trade by a JP Morgan fund can move markets

Explainer: How a massive options trade by a JP Morgan fund can move markets

NEW YORK, Sept 29 (Reuters) – A nearly $16 billion JP Morgan fund is expected to reset its options positions on Friday, potentially adding to equity volatility at the end of a gloomy quarter for stocks. Analysts have in the past pointed to the JPMorgan Hedged Equity Fund’s quarterly reset roiling markets, and see it … Read more

Citigroup CEO declares ‘this is not a credit crisis’ after U.S. bank failures

Citigroup CEO declares 'this is not a credit crisis' after U.S. bank failures

March 22 (Reuters) – Citigroup Inc (C.N) CEO Jane Fraser on Wednesday expressed confidence in U.S. banks after a series of closures rattled investors and fueled turmoil in global financial markets. “The banking system is pretty sound,” and large and regional banks are well-capitalized, Fraser told the Economic Club of Washington D.C. on Wednesday. “This … Read more

First Republic shares drop 11% as Yellen says Treasury won’t insure all deposits

First Republic shares drop 11% as Yellen says Treasury won't insure all deposits

NEW YORK, March 22 (Reuters) – As beleaguered First Republic Bank (FRC.N) considers its options, Treasury Secretary Janet Yellen said on Wednesday there is no discussion on insurance for all deposits, making a “bull case” scenario more difficult for the stock. First Republic, whose shares have lost much of their value since the banking crisis … Read more

SVB Financial Group seeks cooperation with FDIC after $2 bln frozen

SVB Financial Group seeks cooperation with FDIC after $2 bln frozen

March 21 (Reuters) – An attorney for SVB Financial Group (SIVB.O) told a judge on Tuesday it was seeking cooperation from regulators who seized its Silicon Valley Bank unit and removed $2 billion of its cash, which was needed to sustain operations. SVB Financial, which filed for bankruptcy on Friday, had said in court papers … Read more

US banking system sound but not all deposits guaranteed, Yellen says

US banking system sound but not all deposits guaranteed, Yellen says

WASHINGTON, March 16 (Reuters) – The U.S. banking system remains sound and Americans can feel confident that their deposits are safe, Treasury Secretary Janet Yellen said on Thursday, but she denied that emergency actions after two large bank failures mean that a blanket government guarantee now existed for all deposits. In her first public remarks … Read more