Feb 8, 2019

The $28.2 billion bank merger

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Data: Dealogic; Chart: Andrew Witherspoon/Axios

BB&T agreed to buy SunTrust Banks for $28.2 billion in stock, creating the country's sixth largest bank by assets and deposits. If approved, it would be the biggest U.S. bank merger since the 2008 financial crisis.

By the numbers: The merged bank will have $442 billion in assets, with BB&T contributing a little more than $225 billion and SunTrust contributing the rest, WSJ's Justin Lahart writes:

"A bank relief law passed last year raised the threshold for stricter oversight by the Federal Reserve to $250 billion in assets from $50 billion. With both banks on the verge of reaching that higher threshold, why not join forces and reap the cost savings of a merged entity?"

Go deeper: Regional banks BB&T and SunTrust to merge in $66 billion deal.

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The Fed opens its doors to fintechs

Photo: Caroline Brehman/CQ Roll Call

The Fed is extending invitations to financial technology companies (and other companies interested in fintech) for face-to-face conversations. The sessions are called "financial innovation office hours,” the central bank announced Tuesday.

Why it matters: This is a first for the Fed board, though the San Francisco regional bank has hosted similar events in the past.

Go deeperArrowDec 18, 2019

European banks could continue to disappoint investors

President of the European Central Bank Christine Lagarde on Dec. 2, 2019. Photo: Thierry Monasse/Getty Images

In contrast to the blowout returns of their U.S. counterparts last year, European banks delivered uninspired returns to investors.

What happened: U.S. banks like Citigroup and JPMorgan drove a 32% return for the S&P financial sector, slightly edging the S&P 500's 31% rise. Europe’s bank stocks index ended 2019 up 8%, but trailed the broader European Stoxx 600, which rose 23%.

Go deeperArrowJan 7, 2020

Audit report: Tokyo Olympics likely to cost more than $12.6 billion

The National Stadium, venue for the upcoming Tokyo 2020 Olympic Games. Photo: Behrouz Mehri/AFP via Getty Images

Japan's National Audit Board released a report on Friday suggesting the Tokyo Olympics is likely to cost $9.7 billion in addition to the $12.6 billion that organizers are claiming the event's price tag will be, AP reports.

Why it matters: Only $5.6 billion in private money is allocated to fund the Olympics. The remainder of the funds will come from taxpayers across the country, the city of Tokyo and other government bodies, according to AP.

Go deeperArrowDec 21, 2019