Banks
Every Sainteur story on banks, newest first.
Citi cuts US stocks and tech to neutral, upgrades Europe ex-UK on AI turbulence
Beata Manthey's team is still positive on AI longer term but warns crowded positioning and further selling could keep tech under pressure.
Coinbase gets full federal trust charter for crypto custody
The charter follows April's conditional nod and excludes ordinary retail deposits and traditional lending at the trust bank; New York custody migrates over three years.
Democrats poised to take Congress as Wall Street braces for hearings more than new laws
Rep. Maxine Waters and Sen. Elizabeth Warren are expected to lead the House and Senate banking panels, with the power to set hearings, pick witnesses and issue subpoenas.
DTCC's tokenization service goes live with JPMorgan, Citi and Morgan Stanley signed up
The Depository Trust Company launched a service that creates tokens representing securities it holds on the Canton Network and its private Besu chain, with 20 firms signed up and 34 securities eligible at launch.
A $63 billion deal to lease Broadcom chips to Anthropic leans on Broadcom's backing
Bank of America, Citi, Morgan Stanley and Blackstone will fund a vehicle that buys Broadcom AI chips and leases them to Anthropic. Broadcom backs the senior debt, with peak exposure it puts at $43 billion.
American Express is cutting 5% of its workforce, and its CFO says AI is part of the reason
The card company took a $336 million restructuring charge in a quarter that beat adjusted profit estimates and lifted its full-year outlook.
OCC finalizes stablecoin rules under the GENIUS Act, effective Jan. 18, 2027
The bank regulator's final rule sets requirements for stablecoin issuers and custody. Existing US issuers that file a substantially complete application by Jan. 18, 2027, can generally expect waivers from the prior-approval requirement, but the application window isn't open yet.
Goldman, Microsoft and Alphabet object to OKX-ICE trading tokens of their shares
Seven more companies, including Microsoft, Alphabet and Goldman Sachs, have objected to tokenized versions of their shares on OKXICE, the planned 24/7 venue from OKX and NYSE parent ICE.
JPMorgan's asset arm projects 10% a year for bitcoin, then calls its own forecast premature
J.P. Morgan Asset Management's 2027 outlook gives bitcoin a 10% base case over 10 years, above its stock and gold projections, while keeping it out of its main portfolio models.