Banca Monte dei Paschi di Siena has asked at least eight banks to guarantee a five billion euro ($5.49 billion) cash call as Italy's third-largest bank races against the clock to comply with regulators' demands to strengthen its balance sheet, a source familiar with the matter told Reuters.
The silver bullion market has a key new player – Enter the Dragon. The Shanghai Futures Exchange in China is replacing JP Morgan bank and its clients as the most significant new source of demand according to a very interesting blog with some great charts and tables published by SRSrocco Report yesterday.
A weak performance in September could leave investment banks' revenues in the third quarter down about 10% from a year ago, putting 2015 revenues on track to fall from a year ago and intensifying pressure on European firms to scale back.
U.S. bank earnings likely got a lift from mortgage lending in the first quarter, as lower rates spurred a surge in applications to refinance home loans, one of several glimmers of hope for a sector that has lately struggled with weak growth.