Aug 28- Charles Schwab Corp's online trading platforms were temporarily unavailable, a spokesman for the brokerage firm said on Friday morning. The spokesman did not elaborate on the cause of the problem, and a customer service representative in Denver said Schwab did not have an estimate of when online access would be restored. Earlier in the week, discount...» Read More
Major brokers are readying themselves for battle over millions of dollars in swaps trading revenues this year, when the market opens up to stock exchanges.
Wall Street dealers expect hedge funds, insurance companies and other borrowers to pull some cash from commercial banks when a deposit insurance program expires at the end of the year, the Fed said.
"Most politician in Washington have figured out that it is going to be easier to reduce taxes than to raise taxes," said John Kanas, BankUnited president & CEO, weighing in on the future of "fiscal cliff" negotiations.
Already struggling at home with weak revenues and tough new capital and leverage requirements, investment banks are now also facing a slump in their once most promising business - emerging markets.
Nick Wright, Senior Vice President & Head of South & Southeast Asia, State Street discusses the firm's Asian expansion, saying banking reforms have positive implications for custodian banks like State Street.
The Federal Reserve Bank of New York was warned as early as mid-2008 that banks may have been misreporting their Libor borrowing rate to aid their own trading positions, much earlier than previously known.
The Indian parliament cleared a path for more foreign investment in the banking sector by approving a bill to increase shareholders' voting rights.
The Swiss government watered-down a plan to try to clean up the country's image as a haven for untaxed assets.
The looming "fiscal cliff" is a bigger problem for business than consumers, Bank of America CEO's told CNBC Friday.
Swiss bank UBS faces a combined fine of about $1 billion, a person familiar with the situation said on Thursday.
After the U.S. Fed announcement, the KBW Bank Index closed higher. TheStreet.com on the winners and losers.
"For this deal to get done, you're going to have a coalition of moderates from both parties; the extreme of both parties are not going to throw in with this," said Goldman Sachs CEO Lloyd Blankfein, discussing how a deal will likely be worked out on the "fiscal cliff."
"We are one decision away from restoring our fiscal and moral authority around the world, let's just do it," said James Dimon, CEO of JPMorgan Chase, talking about finding a solution to the nation's "fiscal cliff" problem, with CNBC's Andrew Ross Sorkin.
U.S. securities regulators charged a Wells Fargo investment banker and nine others with fraud on suspicions of an insider-trading ring that earned more than $11 million by trading on tips about impending mergers.
How will cutting 11,000 jobs impact Citigroup's bottom line? David Trone, JMP Securities, weighs in.
Ken Moelis, Moelis & Company founder and CEO, weighs in on how Wall Street trends may be changing.
Greg Fleming, Morgan Stanley Wealth Management president, discusses how uncertainty is impacting the markets and why he believes the U.S. economy is better positioned than most people think.
Greg Fleming, Morgan Stanley Wealth Management president, discusses Fed policy and the notion of "irrational exuberance" in the markets.
Greg Fleming, Morgan Stanley Wealth Management president, provides Wall Street's view of the the fiscal cliff and its impact on investors.
Shawn Matthews, CEO of Cantor Fitzgerald, told Squawk Box that he believes taxes will go higher for wealthier Americans as part of a fiscal cliff deal. But he maintained that companies need to "drive us out" of debt and fuel growth in the U.S. economy. "Government is not the solution," he said.