Authorities in France have foiled a suspected bomb plot outside a Bank of America building, preventing what officials say could have been a serious security incident. Police responded swiftly after identifying a potential explosive threat near the premises, securing the area and launching an investigation into those involved.


France: Bombing Attempt at US Bank Foiled in Paris; Minor Hired To Bomb Bank at €600

<p>U.S. banks have tightened their lending standards for both businesses and households in the second quarter of 2023, and they anticipate maintaining this cautious approach for the rest of the year, according to a survey conducted by the Federal Reserve and cited by Bloomberg. The survey of loan officers revealed a multitude of reasons behind this tightening, including a volatile economic outlook, declining credit quality in loan portfolios, concerns about bank funding costs, and deposit outflows.</p>

<p>Federal Reserve Chairman Jerome Powell commented on the survey, acknowledging that the overall lending conditions are tight and continue to tighten. As a result of these conditions, the Fed took decisive action by raising interest rates to their highest level since March 2001.</p>

<p><strong>Factors at play</strong></p>

<p>Among the factors contributing to the banks' increased caution are worries about the potential impact of legislative, supervisory, or accounting changes. Recently, the Federal Reserve and other regulators proposed a 16 per cent aggregate increase in capital requirements for banks with assets exceeding $100 billion, aiming to strengthen lenders against potential future challenges.</p>

<p>In response to the impending regulatory changes, some banks are already taking preventive measures, pulling back on lending or issuing warnings about potential future restrictions. The survey also revealed a decline in demand for new loans across various categories, affecting consumers, businesses, and commercial and residential real estate sectors.</p>

<p>Throughout the year, growth in U.S. bank lending has slowed, coinciding with the Federal Reserve's aggressive campaign to combat inflation by raising interest rates and subsequently increasing borrowing costs. As a result, banks are setting aside more funds for future loan losses, signifying their apprehension about worsening credit conditions.</p>

<p><strong>Loan demand outlook in focus</strong></p>

<p>Despite the tightening lending landscape, JPMorgan Chase's Chief Financial Officer, Jeremy Barnum, expressed optimism about reasonably robust loan card growth, particularly in auto loans. However, he also stated that the outlook for loan demand in other areas, including consumer and wealth sectors, is not as promising.</p>

<p>Slower bank lending can serve as a potential recession indicator, though it is not always definitive. According to Apollo's Chief Economist, Torsten Slok, the 'maximum negative impact' of tighter credit conditions on the gross domestic product (GDP) can take up to a year and a half to materialise.</p>

<p>While the possibility of a recession was a concern, the latest data from the Bureau of Labour Statistics has shown that the U.S. economy grew faster in the second quarter compared to the first. As a result, the growing consensus suggests that the immediate threat of a recession is diminishing.</p>

<p>Federal Reserve Chairman Jerome Powell echoed this sentiment, stating that the strong economic performance has instilled confidence in the country's economic outlook. Despite this optimism, the cautious approach taken by banks toward lending underscores the ongoing uncertainty surrounding the economic landscape.</p>

<p><em>(With Inputs from Agencies)</em></p>


U.S. banks have tightened their lending standards for both businesses and households in the second quarter of 2023, and they anticipate maintaining this cautious approach for the rest of the year, according to a survey conducted by the Federal Reserve and cited by Bloomberg.

U.S. banks have tightened their lending standards for both businesses and households in the second quarter of 2023, and they anticipate maintaining this cautious approach for the rest of the year, according to a survey conducted by the Federal Reserve and cited by Bloomberg. The survey of loan officers revealed a multitude of reasons behind this tightening, including a volatile economic outlook, declining credit quality in loan portfolios, concerns about bank funding costs, and deposit outflows. Federal Reserve Chairman Jerome Powell commented on the survey, acknowledging that the overall lending conditions are tight and continue to tighten. As a result of these conditions, the Fed took decisive action by raising interest rates to their highest level since March 2001. Factors at play Among the factors contributing to the banks' increased caution are worries about the potential impact of legislative, supervisory, or accounting changes. Recently, the Federal Reserve and other regulators proposed a 16 per cent aggregate increase in capital requirements for banks with assets exceeding $100 billion, aiming to strengthen lenders against potential future challenges. In response to the impending regulatory changes, some banks are already taking preventive measures, pulling back on lending or issuing warnings about potential future restrictions. The survey also revealed a decline in demand for new loans across various categories, affecting consumers, businesses, and commercial and residential real estate sectors. Throughout the year, growth in U.S. bank lending has slowed, coinciding with the Federal Reserve's aggressive campaign to combat inflation by raising interest rates and subsequently increasing borrowing costs. As a result, banks are setting aside more funds for future loan losses, signifying their apprehension about worsening credit conditions. Loan demand outlook in focus Despite the tightening lending landscape, JPMorgan Chase's Chief Financial Officer, Jeremy Barnum, expressed optimism about reasonably robust loan card growth, particularly in auto loans. However, he also stated that the outlook for loan demand in other areas, including consumer and wealth sectors, is not as promising. Slower bank lending can serve as a potential recession indicator, though it is not always definitive. According to Apollo's Chief Economist, Torsten Slok, the 'maximum negative impact' of tighter credit conditions on the gross domestic product (GDP) can take up to a year and a half to materialise. While the possibility of a recession was a concern, the latest data from the Bureau of Labour Statistics has shown that the U.S. economy grew faster in the second quarter compared to the first. As a result, the growing consensus suggests that the immediate threat of a recession is diminishing. Federal Reserve Chairman Jerome Powell echoed this sentiment, stating that the strong economic performance has instilled confidence in the country's economic outlook. Despite this optimism, the cautious approach taken by banks toward lending underscores the ongoing uncertainty surrounding the economic landscape. (With Inputs from Agencies)

Cash flow slowdown: U.S. banks turn cautious on lending in 2023

Trouble seems to be mounting for First Republic Bank. Days after US regulators seized the bank and sold it to JP Morgan, the Securities and Exchange Commission (SEC) is investigating some executives at the US bank for insider trading.

US probes insider trading at First Republic Bank

<p>US regional bank Western Alliance's shares dipped 60 per cent after the now-quashed report which said the lender is exploring a possible sale.&nbsp;This comes after the Financial Times reported that Western Alliance was exploring strategic options which also included the sale of its whole business or at least part of it.&nbsp;</p>

<p>FT cited two sources while reporting on the matter. However later in the day, the bank has rubbished the report, according to Reuters.&nbsp;"Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options," the lender said.</p>

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<p>It added that the bank was "reaffirming its financial strength as well as its deposit growth guidance in response to recent industry events."</p>

<h2><strong>Western Alliance shares plunge&nbsp;</strong></h2>

<p>The shares of Western Alliance plunged to $17.22 at one point during the trade. The trading in the stock also halted multiple times, reported Reuters.&nbsp;</p>

<h2><strong>US bank collapses&nbsp;</strong></h2>

<p>By far, at least three US banks have collapsed in the last two months. A Los Angeles-based bank holding company PacWest Bancorp earlier said it is exploring strategic options, including a sale.&nbsp;</p>

<p>The shares went tumbling by 52 per cent after the markets were filled with anxiety over concerns if this will result in the collapse of yet another US bank.&nbsp;</p>

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<p>It is pertinent to note that PacWest Bancorp had raised $1.4 billion from investment firm Atlas SP Partners in late March.</p>

<p><strong>Watch | Iran seizes Panama-flagged oil tanker in Tehran on judicial order | World News | WION</strong></p>

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<h2><strong>First Bank Collapse&nbsp;</strong></h2>

<p>The latest bank that collapsed was First Republic Bank. The US banking regulators announced Monday of closing the crisis-hit San Francisco-based bank First Republic and selling off the lender's majority deposits of $93.5bn to JPMorgan Chase along with most of the assets.</p>

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US regional bank Western Alliance's shares dipped 60 per cent after the now-quashed report which said the lender is exploring a possible sale. This comes after the Financial Times reported that Western Alliance was exploring strategic options which also included the sale of its whole business or at least part of it.

US regional bank Western Alliance's shares dipped 60 per cent after the now-quashed report which said the lender is exploring a possible sale. This comes after the Financial Times reported that Western Alliance was exploring strategic options which also included the sale of its whole business or at least part of it. FT cited two sources while reporting on the matter. However later in the day, the bank has rubbished the report, according to Reuters. "Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options," the lender said. Also Read | Wagner leader says Ukraine counter-offensive has begun; Death toll from Kherson shelling rises to 21 It added that the bank was "reaffirming its financial strength as well as its deposit growth guidance in response to recent industry events." Western Alliance shares plunge The shares of Western Alliance plunged to $17.22 at one point during the trade. The trading in the stock also halted multiple times, reported Reuters. US bank collapses By far, at least three US banks have collapsed in the last two months. A Los Angeles-based bank holding company PacWest Bancorp earlier said it is exploring strategic options, including a sale. The shares went tumbling by 52 per cent after the markets were filled with anxiety over concerns if this will result in the collapse of yet another US bank. Also Read | At least 14 killed, 25 injured after road accident in Egypt: Reports It is pertinent to note that PacWest Bancorp had raised $1.4 billion from investment firm Atlas SP Partners in late March. Watch | Iran seizes Panama-flagged oil tanker in Tehran on judicial order | World News | WION × First Bank Collapse The latest bank that collapsed was First Republic Bank. The US banking regulators announced Monday of closing the crisis-hit San Francisco-based bank First Republic and selling off the lender's majority deposits of $93.5bn to JPMorgan Chase along with most of the assets. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US regional bank Western Alliance quashes report of exploring potential sale

The arrest of Khanani was seen as a breakthrough by Indian intelligence agencies given the Dawood Ibrahim connection.

Pak national Altaf Khanani's financial relationship with terror organisations

The FinCEN files are more than 2,500 documents, most of which were files that banks sent to the US authorities between 2000 and 2017.

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