JPMorgan Chase & Co plans to cut 3,000 to 4,000 jobs in its consumer bank in 2013, representing about 1.5 percent of the company’s overall workforce, as the bank tries to improve the profitability of its branches. The cuts will come mainly through attrition, spokeswoman Kristin Lemkau said. The bank’s […]
Tag: Banks
Big Banks to Get a Boost With Stress Tests in 2013
Investors may see a big boost for the largest U.S. banks’ shares after the conclusion of so-called stress tests next month. The Federal Reserve will announce the results of the annual stress tests on March 7. The regulator will publish the Comprehensive Analysis and Review (CCAR) on March 14. The […]
Euro, money market rates fall after low ECB loan repayment
Money market rates and the euro fell on Friday after the European Central Bank announced banks would make 62.8 billion euros worth of early repayments of three-year banking sector loans. The repayment came in below the 130 billion euro Reuters poll consensus and means the level of surplus liquidity in […]
