Yalman Onaran, Author at Providence Business News

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THE TOP six banks in the U.S. saved $18 billion collectively due to their average effective tax rate falling to 18% in 2019 from the 30% average prior to the Republican tax overhaul of 2017. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

Trump tax cut hands $32B windfall to America’s top banks

Financial Services 01/16/2020

NEW YORK – Savings for the top six United States banks from President Donald Trump’s signature tax overhaul accelerated last year, now topping $32...

THE OFFICE OF THE COMPTROLLER OF THE CURRENCY and Federal Deposit Insurance Corp. have approved a move to ease the Volcker Rule’s controversial ban on banks making speculative investments. Wall Street has largely sought a roll back of the rules.. / BLOOMBERG NEWS

Volcker rule trading revamp approved in win for Wall Street

Financial Services 08/20/2019

WASHINGTON – Wall Street watchdogs handpicked by President Donald Trump eased the Volcker Rule’s controversial ban on banks making speculative investments, wrapping up a...

ALL 18 BANKS REQUIRED TO PARTICIPATE in the first round stress test exam demonstrated an ability to withstand a hypothetical financial shock. / COURTESY FEDERAL RESERVE

Goldman, Morgan Stanley do better in Fed stress tests after 2018’s...

Financial Services 06/25/2019

NEW YORK – Goldman Sachs Group Inc. and Morgan Stanley improved on last year’s poor results in the first round of the latest Federal...

OVER 75 PERCENT of global banks now use regulatory stress tests to assess concentrations and set limits internally, according to a Deloitte survey. / BLOOMBERG NEWS

Big U.S. banks are letting stress tests make decisions for them

Financial Services 01/23/2019

NEW YORK - If you’re a bond trader at a major bank, the next time you ask for an increase in your position limit, the...

THE SECOND ROUND OF THE Federal Reserve's most-recent stress test has caused only a handful of banks to curtail their capital plans for 2018. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Fed forces JPMorgan, Goldman, four rivals to temper payouts

Financial Services 06/28/2018

NEW YORK – Tougher Federal Reserve stress tests forced six U.S. banks, including JPMorgan Chase & Co., to scale back proposals for doling out...

THE FEDERAL RESERVE'S bank stress test assumed tougher economic conditions than 2017 for its "severely adverse scenario." / BLOOMBERG

Goldman, Morgan Stanley say test scores may not curb payouts

Financial Services 06/22/2018

NEW YORK - Goldman Sachs Group Inc. and Morgan Stanley are imploring investors not to get spooked. The investment banks had the two lowest capital...

THE SIX BIGGEST U.S. BANKS are poised to make a combined $27 billion of gross profit if the government shifts to changes to post-crisis banking rules proposed by Donald Trump’s administration. / BLOOMBERG

Big U.S. banks could see profit jump 20% with deregulation

Financial Services 08/23/2017

NEW YORK - The deregulation winds blowing through Washington could add $27 billion of gross profit at the six largest U.S. banks, lifting their...

CAPITAL ONE FINANCIAL CORP. was the only one of the 34 major U.S. banks that underwent the annual Federal Reserve stress test that is being required to file a follow-up plan with the central bank. / BLOOMBERG NEWS FILE PHOTO/CRAIG WARGA

Capital One must resubmit plan as 33 banks ace Fed tests

Economic Activity 06/28/2017

NEW YORK – Capital One Financial Corp. was alone among big U.S. banks in stumbling through the Federal Reserve’s annual stress tests, getting conditional...