Tags: Goldman Sachs, stress tests, tougher hypothetical recessions
Wall Street’s banks were pretty hard on themselves for this year’s choose-your-own-misadventure stress-test trial runs, conjuring a way worse recession than they did last year, and doing concomitantly worse as a result. Citigroup’s Tier 1 would fall from 9.1% to 8.7%, JPMorgan’s from 8.5% to 8.4%, Morgan Stanley’s from 9.5% to 8.9% and Wells Fargo’s from 9.9% to 9.6%.
But not everyone’s doing so badly, even when they were really, really hard on themselves. Read more »
Tags: Barclays, Deutsche Bank, FOREX, Goldman Sachs, RBS, so that's something, UBS
The world’s biggest banks are overhauling how they trade currencies to regain the trust of customers and preempt regulators’ efforts to force changes on an industry tarnished by allegations of manipulation. Barclays Plc, Deutsche Bank AG, Goldman Sachs Group Inc., Royal Bank of Scotland Group Plc and UBS AG, which together account for 43 percent of foreign-exchange trading by banks, are introducing measures to make it harder for dealers to profit from confidential customer information and take advantage of clients in the largely unregulated $5.3 trillion-a-day currency market, according to people with knowledge of the changes. Banks have capped what employees can charge for exchanging currencies, limited dealers’ access to information about customer orders, banned the use of online chat rooms and pushed trades onto electronic platforms, according to the people, who asked not to be identified because they weren’t authorized to discuss their firms’ practices. [Bloomberg]
Tags: Alibaba, Goldman Sachs, Sergey Aleynikov, stabilization agents
The news is all good, indeed, for Lloyd and Co. so far this week. Goldman has once again demonstrated its dominance amongst its “peers,” being named the “stabilization agent” for a $20 billion-plus IPO. Read more »
Tags: Bank of America, Citigroup, Compensation, Goldman Sachs, JP Morgan Chase, junior bankers, Morgan Stanley, raises
Well, raises for everyone at Goldman Sachs, Morgan Stanley, and Bank of America. JP Morgan and Citi are still pondering this one. Read more »
Tags: Compensation, Goldman Sachs, junior mistmakers, who loves ya?
The youngest members of the House of Lloyd are said to be in for a nice little salary bump. Read more »
Tags: friendly chats, Goldman Sachs, I can’t execute that trade. I don’t have prime brokerage services because of Obama., leverage ratios
Ask not what Goldman Sachs can do for you. Ask what your hedge fund can do for Goldman Sachs and its leverage ratio. For instance, perhaps you’d like to pay some extra fees on that untapped credit line, or withdraw that money you’ve just got sitting uselessly in your Goldman account? Perhaps you wouldn’t mind forking over a few more bucks for trade financing? Maybe, if you’d be so kind, you could just go away entirely? Read more »