17:00:00 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Goldman Sachs CDR (CAD Hedged)
Symbol GS
Shares Issued 550,000
Close 2024-03-05 C$ 19.71
Market Cap C$ 10,840,500
Recent Sedar Documents

Globe/NYT say BofA, rivals await new Fed rules

2024-03-06 08:26 ET - In the News

See In the News (C-BOFA) Bank of America CDR (CAD Hedged)

The Globe and Mail reports in its Wednesday edition that U.S. government officials are preparing to announce new regulations to prevent future bank runs that could threaten the financial system. A New York Times dispatch to The Globe reports that the Federal Reserve and other regulators plan to reveal their new rules this spring. Proposed regulations have caused tension between big banks and their regulators, which could be further exacerbated by an interagency clampdown. The expected adjustments are centred on enhancing a bank's capacity to respond quickly during market turmoil. The proposed rules known as "Basel III Endgame" have faced objections from the banking industry. The rules would require major banks to hold more cash-like assets. Bank lobbies have argued that these proposed rules would negatively impact families, home buyers and small businesses by reducing lending. Last week, JPMorgan chief executive officer Jamie Dimon vented to clients that "nothing" regulators had done since last year had addressed the problems that led to the 2023 mid-size bank failures. Mr. Dimon has complained that the Basel capital proposal was taking aim at larger institutions that were not central to last spring's meltdown.

© 2024 Canjex Publishing Ltd. All rights reserved.