Cap Markets

Citing missed deadlines for an annual meeting and key regulatory filing, the Norcross-Braca group has called off a plan to invest $35 million in the Philadelphia bank.

The proposed capital rule risks driving borrowers away from the traditional banking industry and into the arms of shadow banks, whose support during stressful times can be fleeting.

The lending fintech is increasing its reliance on third-party funding arrangements as its revenue slides. Analysts are wondering how much risk is embedded in the deals.

Banks and Congressmen alike see U.S. regulators' version of Basel III as overly stringent for the securitization market.

The asset and wealth division helped drive the gains, posting its highest quarterly revenue in two years on a gain tied to the sale of a financial-management business. That helped counter fixed-income trading results and investment-banking fees that fell short of expectations.

A bill before the state legislature would create a public infrastructure bank, where municipalities could go to finance projects from affordable housing to bridges.

The real estate investment trust — which counts the private equity firm C-III Capital Partners among its top shareholders — owes more than $100 million to creditors but has less than $50 million of assets, according to a Chapter 11 petition.

Citigroup, Barclays and Morgan Stanley are just a few of the firms joining JPMorgan in what suddenly feels like a rush into direct lending.

Led by veteran banker Stephen Gordon, Genesis Bank in Newport Beach, California, plans to use the funds pledged by private equity firms and other investors to roll up community banks in the Western U.S.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.