…“You can’t fake being young — they’re very long established investment banks with new retail bank arms,” said another challenger bank executive….

… Bank deposits swelled during the pandemic, and $2.5tn of that cash is still in the banks . Personal net worth is still about $25tn higher than before the pandemic….

…But the bank also alienated swaths of its customers in Hong Kong, many of whom are small investors who rely on the bank’s dividends for retirement income….

…“It has really been about central bank tightening and about the market being uncertain about the future path of interest rates and that’s led to a big, big increase in the market price of interest rate volatility…

…Pension funds were persuaded by the argument that the new regulations were good for the system (including them), not just good for banks . Why?…

…The flow of private climate finance needs to be increased tenfold, to roughly $3tn a year by 2030. Emissions from forests and agriculture, which are still rising, need to fall….

…“All manner of self-promotion became kosher,” he writes, and a “vicious cycle” followed as the trade press published details of firm finances , enabling lawyers to compare the size of their pay packages….

The strain in relations between the European Central Bank (ECB) and UniCredit has occurred because of Italian bank’s plans to pay more to its shareholders and continued operations in Russia, Financial Times said, citing sources.

…The system being devised by the US team is billed as a power-sector version of the so-called Lowering Emissions by Accelerating Forest Finance (Leaf) venture launched at last year’s COP26, backed by companies…

…It seems rather early days to read that fixed-rate mortgage costs may fall as the Bank of England appears to be turning “dovish” (“Fixed-rate mortgage costs predicted to start falling”, Report, November…