The ECB doled out 82.6 billion euros ($10.36 billion) in cheap loans to banks on Thursday, as well as releasing details of a new rotation system for its Governing Council.» Read More
NEW YORK, July 15- U.S. stocks slipped on Tuesday, with riskier equities hit hardest after the Federal Reserve, in an unusual statement, singled out the valuation of social media and biotechnology shares as "substantially stretched." Wall Street equities were supported by bank stocks like JPMorgan Chase& Co, which outperformed following strong results.
Discussing whether the bank stocks are finally back, with Anton Schutz, Mendon Capital Advisors chief investment officer. Mendon explains why he doesn't own Morgan Stanley now and likes the small bank plays.
Goldman posted net income for shareholders of $1.95 billion, or $4.10 per share, in the three months ended June 30, up from $1.86 billion or $3.70 per share in the same period a year earlier. Rival banks Citigroup Inc and JPMorgan Chase& Co said a pickup in trading volume in June helped offset slowness in April and May.
A holding company of Portugal's Espirito Santo banking family is preparing to file for creditor protection, sources said.
*Bulgaria to be first non-euro zone bank to join mechanism. SOFIA, July 15- Bulgaria's central bank has begun talks with the European Banking Authority about conducting a review of the quality of its banking supervision, it said on Tuesday, following runs on two lenders in June.
July 15- Federal Reserve Chair Janet Yellen on Tuesday voiced concern about stretched valuations in certain corners of the equity markets, including the small cap, biotechnology and social media sectors.
USE OF FED FUNDS TO CONTROL INTEREST RATES "WILL NOT BE FEASIBLE" DURING POLICY NORMALIZATION- FED MONETARY POLICY REPORT.
WASHINGTON, July 15- Following are selected highlights from the prepared testimony of Federal Reserve Chair Janet Yellen before the Senate Banking Committee on Tuesday. "In sum, since the February Monetary Policy Report, further important progress has been made in restoring the economy to health and in strengthening the financial system.
Sheng Songcheng, the head of the statistics department at the central bank, was also quoted by the Chinese financial news service Great Wisdom as saying that banks have increased lending to China's cooling property market this year in a show of "forceful" support.
The "Squawk on the Street" crew discuss JPMorgan's earnings results, and whether they were conservative with their expectations.
*BoE says UK banks have "dreadful record" of mis-selling. LONDON, July 15- The Bank of England said on Tuesday that British banks had a "dreadful record" on mis-selling complex interest rate hedging products to small businesses and warned that it would keep a close eye on them.
*Report backs reform of existing ECB and 4 p.m. London fixes. At the center of the investigations is activity around the 4 p.m. currency fix in London, a 60- second window where key exchange rates are set. The Financial Stability Board, based in Basel in Switzerland, said it had no access to any evidence or knowledge of any details of the investigations.
CNBC's Steve Liesman and Paul McCulley, Pimco chief economist, provide perspective on Tuesday's retail sales numbers and weigh in on Fed policy ahead of Janet Yellen's Capitol Hill testimony.
Paul McCulley, Pimco chief economist, provides perspective on why the banking sector will have to change its current business model.
CNBC's Mary Thompson takes a look at whether JPMorgan and Goldman Sachs will likely set the tone for Tuesday's trading session.
Marty Mosby, Vining Sparks, shares his thoughts on the big bank's better-than-expected quarterly results.
Paul McCulley, Pimco chief economist, shares his thoughts on Fed policy, Janet Yellen and interest rates.
SOFIA, July 15- Bulgaria's central bank has begun talks with the European Banking Authority about conducting a review of the quality of its banking supervision, it said in a statement on Tuesday, following runs on two lenders in June.
July 15- JPMorgan Chase& Co, the biggest U.S. bank by assets, reported an 8 percent decline in second-quarter profit as a pullback in trading of bonds and currencies by big institutions hit revenue in its securities trading business. JPMorgan shares were up 1.8 percent at $57.31 in premarket trading.
There were very good performances in asset management and investment banking, says Erik Oja, S&P Capital IQ, providing insight and reaction to JPMorgan's quarterly results.
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