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As the US celebrates 250, remember the cradle of its banking industry
Living in Philadelphia’s Society Hill during the 1976 Bicentennial was a banking historian’s dream come true. Most Americans experienced it through the lens of patriotism and politics. I experienced it through the lens of banking history. Philadelphia didn’t just host the Founding Fathers. It financed them. Philadelphia gave us the bank that funded Washington’s army,…
For Utah de novo bank, second time appears to be a charm
Key insight: The organizers of a Utah de novo bank, Bank of St. George, say the regulatory approval process has been smooth. Travis Hill, chairman of the Federal Deposit Insurance Corp., has been trying to make it easier for new banks to open. Supporting data: Twenty-one groups have filed deposit-insurance applications since the start of…
Minutes of the London FXJSC Legal Sub Committee Meeting – 17 March 2026
Time: 2pm – 3.30pm | Location: Bank of England, Threadneedle Street, London, EC2R 8AH Minutes Minute 1: Welcome and apologies The Chair (Sharon Blackman) opened the meeting, welcoming those online and in person. Minute 2: Minutes of 24 November Legal Sub-Committee The minutes of the meeting of 24 November 2025 were approved. Minute 3: Look…
Leveraged ETFs Pose Growing Risk to Markets Beyond Retail
(Bloomberg Opinion) — That leveraged single-stock exchange-traded funds will eventually maul the retail investors who love them is, by now, close to consensus. My Bloomberg Opinion colleague Shuli Ren made the case last month that investors in leveraged ETFs tied to semiconductor stocks such as South Korea’s SK Hynix Inc. are at particular risk of…
The Retail Payments Infrastructure Board launches consultation on the next generation UK payments infrastructure
News release Today marks a major milestone in the modernisation of the UK’s payments landscape, with the Retail Payments Infrastructure Board (RPIB) launching a consultation on the future design of the UK’s next-generation retail payments infrastructure. The new infrastructure will provide a secure foundation for innovation, greater choice and more seamless payments, while supporting existing…
Russia Summons Swedish Ambassador After Drone Incident in Stockholm
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