๐ Macroeconomics 50 companies filed for bankruptcy in October, down from 61 in September, according to the latest S&P Global Market Intelligence data. So far, 561 companies sought bankruptcy protection, more than any year since 2010, except for 2020. 50 companies filed for bankruptcy in October Source: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-corporate-bankruptcies-slow-in-october-number-of-large-filings-rises-78294932October 2023 bankruptcyTLDRS:50 companies filed for bankruptcy in October, down from 61 in September. This was the second-lowest monthly total for the year so far, though still elevated compared to monthly filing totals for most of 2021 and 2022.So far, 561 companies sought bankruptcy protection, more than any year since 2010, except for 2020.Reddit PostTweet
The FDIC and Fed announce results of resolution plan review for largest and most complex banks and they identified weakness in the plans from Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase. Today, the FDIC and Fed announced that, following their joint review of the July 2023 resolution plan submissions of the eight largest and most complex banks, they identified a weakness in the plans from Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase. The agencies did not identify any weaknesses
Federal Reserve Board announces that results from its annual bank stress tests will be released on Wednesday, June 26, at 4:30 p.m. EDT. This year, 32 banks with $100 billion or more in total assets are subject to the stress tests. Highlights: The Federal Reserve Board announced on Thursday that results from its annual bank stress tests will be released on Wednesday, June 26, at 4:30 p.m. EDT. Additionally, aggregate results from the Board's first exploratory analysis, which will not affect bank capital requirements, will be released
FDIC Quarterly Banking Profile: Unrealized losses on securities totaled $516.5 billion in the first quarter, an increase of $38.9 billion (8.2 percent) from fourth quarter 2023. The Quarterly Banking Profile is a quarterly publication that provides the earliest comprehensive summary of financial results for all FDIC-insured institutions. Reports from 4,568 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) report aggregate net income of $64.2 billion in first quarter 2024,
