Latest banking news

Here are some of the latest banking news updates:

Global Banking

  1. HSBC to cut 35,000 jobs: HSBC Holdings Plc plans to cut 35,000 jobs, or about 15% of its workforce, as part of a major restructuring effort to reduce costs and improve efficiency. (Source: Bloomberg)
  2. JPMorgan Chase to invest $10 billion in digital transformation: JPMorgan Chase & Co. plans to invest $10 billion in digital transformation over the next five years, including the development of new technologies and the hiring of thousands of employees. (Source: The Wall Street Journal)
  3. UBS to cut 2,000 jobs: UBS Group AG plans to cut 2,000 jobs, or about 5% of its workforce, as part of a cost-cutting effort to reduce expenses and improve profitability. (Source: Reuters)

US Banking

  1. Fed approves Wells Fargo's capital plan: The Federal Reserve has approved Wells Fargo & Co.'s capital plan, allowing the bank to increase its dividend and buy back shares. (Source: The Wall Street Journal)
  2. Bank of America to invest $1 billion in affordable housing: Bank of America Corp. plans to invest $1 billion in affordable housing over the next five years, including the development of new affordable housing units and the renovation of existing ones. (Source: Bloomberg)
  3. Citigroup to cut 1,000 jobs: Citigroup Inc. plans to cut 1,000 jobs, or about 2% of its workforce, as part of a cost-cutting effort to reduce expenses and improve profitability. (Source: Reuters)

European Banking

  1. Deutsche Bank to cut 18,000 jobs: Deutsche Bank AG plans to cut 18,000 jobs, or about 20% of its workforce, as part of a major restructuring effort to reduce costs and improve efficiency. (Source: Bloomberg)
  2. Santander to cut 1,500 jobs: Banco Santander SA plans to cut 1,500 jobs, or about 2% of its workforce, as part of a cost-cutting effort to reduce expenses and improve profitability. (Source: Reuters)
  3. Barclays to cut 12,000 jobs: Barclays Plc plans to cut 12,000 jobs, or about 15% of its workforce, as part of a major restructuring effort to reduce costs and improve efficiency. (Source: The Financial Times)

Regulatory News

  1. Fed proposes new capital requirements for large banks: The Federal Reserve has proposed new capital requirements for large banks, including a higher minimum common equity tier 1 capital ratio of 11.5%. (Source: The Wall Street Journal)
  2. EU proposes new rules for crypto assets: The European Union has proposed new rules for crypto assets, including stricter regulations on initial coin offerings and the requirement for crypto exchanges to register with regulators. (Source: Bloomberg)
  3. US Treasury Department proposes new rules for fintech companies: The US Treasury Department has proposed new rules for fintech companies, including the requirement for fintech companies to register with regulators and the implementation of stricter consumer protection measures. (Source: The Wall Street Journal)

These are just a few of the latest banking news updates. If you're looking for more information, I'd be happy to help!