Corporate Bonds

Deals from Amex in the ride-delivery space and AI developments at Mastercard are just some of the latest fintech moves that have the industry on notice.

Naveed Anwar, global head of digital for Treasury & Trade Solutions, is upgrading the bank’s self-service portal and expanding its embedded banking offerings for large tech and fintech clients.

The fintech will work with the bank’s largest clients to spread their cash among U.S. branches of non-U.S. institutions, helping them obtain higher yields while diversifying counterparty risk.

Hope Dmuchowski will join the Memphis, Tennessee, bank as it contends with higher-than-expected costs in connection with its acquisition of Iberiabank. She has previous experience with integrations, having participated in the combination of BB&T and SunTrust Banks.

The Federal Reserve's extraordinary effort to keep credit flowing to companies during the COVID-19 pandemic is also shunting money to banks' bottom lines.

Consumers are parking their funds at financial institutions as lending slows and interest rates remain near zero, making it difficult for credit unions to deploy these deposits.

Bank of America is set to price today a $1 billion bond issue to fund COVID-19 relief efforts. It's the first sale from a U.S. financial institution that explicitly links all proceeds to tackling the virus, Bloomberg data show.

The central bank’s programs announced since mid-April in response to the coronavirus outbreak match if not exceed the actions it took during the 2007-9 financial crisis.

Some say the agencies are exacting too high a price to buy loans from the cash-strapped lenders; some small banks hustled in dealing with the Paycheck Protection Program, others are accused of a hustle.

The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.