US banks sharpened their stance this week in a clash with the crypto industry that has put major legislation on ice in Congress. Behind closed doors, the US banking industry shared a document calling for a prohibition on companies or other entities paying customers interest on their stablecoin balances during a second round of talks hosted by the White House's crypto council. That document served as the basis for the discussion during a Tuesday meeting on the issue, which is the major holdup in getting ...

美国银行将Spotify目标价从900美元下调至750美元。 本文源自：金融界AI电报 ...

Geopolitical Influence - Geopolitics is currently the main driving force affecting oil prices, pushing them towards the high end of this year's range, with expectations of a price reversion to around $60 per barrel on Brent if a peace deal with Iran is reached or if limited skirmishes occur [1] Market Supply and Demand - The oil market is oversupplied, with rising inventories and an expected surplus of approximately 2 million barrels per day in the global Brent market this year [2][3] - OPEC has additional time to decide on production adjustments, but there is a significant amount of oil available in the market, and the price war initiated by OPEC to recover market share is not yet fully resolved [3] OPEC's Strategy - If oil prices exceed $70 per barrel and remain there, OPEC is likely to be incentivized to bring spare capacity back to the market [4] - OPEC is expected to increase oil production to recover market share, with a meaningful decline in super productive capacity anticipated over the next one to two years [5][7] U.S. Production Impact - Between 2022 and 2024, U.S. crude oil output increased by an additional 3 million barrels per day, which OPEC+ aims to avoid repeating [6] - A resurgence in U.S. shale output could occur if prices fall significantly below $70 per barrel, which is undesirable for OPEC [5][6]

（原标题：助贷新规出台在即 规范三大助贷模式 要求银行加强自主风控） 近日，21世纪经济报道记者从金融机构、助贷平台等多方了解到，此前国家金融监管总局草拟对外征求 意见的《关于加强商业银行互联网助贷业务管理的通知》（以下简称"助贷新规"）不久或将正式对外发 布。 商业银行开展互联网贷款，除了通过自营渠道放贷，在与科技平台合作开展助贷业务时，有三大主流模 式：联合贷模式、融资担保模式、分润模式。 在联合贷模式下，由放款银行与平台旗下持牌机构（小额贷款公司、消金公司或其他银行）按比例共同 提供贷款，放款行出资比例不得超过70%，风险由双方共担。 在融资担保模式下，助贷平台往往通过自有融担牌照为贷款方提供担保，经过助贷平台第一轮风控后向 银行推荐客户，贷后管理由平台与融担公司负责，但融担公司会在其中收取一笔担保费用。 在分润模式下，助贷平台主要在获客端提供流量、数据分析、客户运营等科技服务，按分润比例收取服 务费，资金发放与风控环节均由银行自主完成，因此这一模式也被称为"轻资产模式"。 业内人士对记者表示，由于新规涉及名单制管理、总行级准入审批、控制担保费率、分润比例、费率结 算方式、担保代偿天数等多个方面，需要对 ...

PresentationEbrahim PoonawalaBofA Securities, Research Division Good morning, and we'll go ahead and get started. So welcome to Bank of America's 34th Annual Financial Services Conference. I'm Ebrahim Poonawala, Head of North American Banks Research at BofA, and it's a pleasure to welcome you all. I would like to thank all the management teams and investors for their partnership, which has helped make this conference such a success. As part of the conference, we are hosting over 350 institutional investors, ...

Bank of America ( BAC ) is one of the “too big to fail” banks. Along with common shares, the bank has a plethora of preferred shares and bonds for fixed-income investors to choose from. I last covered Bank of America in October, whereOther writing on Substack: https://yieldstrategies.substack.com/I am currently focused on income investing through either common shares, preferred shares, or bonds. I will occasionally break away and write about the economy at large or a special situation involving a company I' ...

All right, let's talk a little bit more about kind of where the money is being spent in the economy right now. The market, of course, this week is awaiting key data on payrolls and inflation. Based on what you're seeing in terms of your 68 million consumer customers and 3 million businesses that you serve, do you think we're at an inflection point in either of those key data points.>> Look, I I see that there's a lot of talk about the retail sales number for December. It's midFebruary. Let me tell you that ...

Core Viewpoint - Bank of America (BAC) stock is trading at a discount compared to the industry, with a price-to-tangible book (P/TB) ratio of 2.04X versus the industry's 3.42X, indicating potential investment opportunity [1][9]. Valuation and Performance - BAC stock has appreciated 20.6% over the past year, outperforming the Zacks Finance sector and the S&P 500 Index, with key peers like JPMorgan and Wells Fargo showing lower gains of 17.1% and 18.8%, respectively [4][3]. - The current valuation and positive price performance suggest that BAC may be a smart investment choice [7]. Interest Rate Impact - The Federal Reserve's interest rate cuts are expected to pressure BAC's net interest income (NII), but factors such as fixed-rate asset repricing and increased loan and deposit balances may mitigate this impact [8][9]. - BAC anticipates a 5-7% growth in NII for 2026, supported by loan and deposit growth despite the rate cuts [11][9]. Network Expansion and Digital Strategy - BAC is focused on expanding its financial centers, having opened approximately 300 new centers since 2019, which has contributed to $18 billion in incremental deposits [12][13]. - The bank's strategy combines digital and physical services to enhance customer relationships and capitalize on new business opportunities [14][15]. Financial Health and Shareholder Returns - As of December 31, 2025, BAC's average global liquidity sources totaled $975 billion, and it has maintained strong investment-grade credit ratings [16]. - The company has raised its dividend by 8% and authorized a $40 billion share repurchase plan, indicating a commitment to returning value to shareholders [19][17]. Investment Banking Performance - BAC's investment banking (IB) fees have shown recovery, with a 31.4% year-over-year increase in 2024 and an 8.4% increase in 2025, driven by a healthy IB pipeline [20][21]. - The company targets mid-single-digit CAGR in IB fees and aims to gain market share through enhanced integration and AI-driven insights [21]. Asset Quality Concerns - BAC's asset quality has been under pressure, with significant increases in provisions and net charge-offs in recent years, although there was a decline in these metrics last year [22][23]. - The bank remains cautious about the impact of high interest rates on its loan portfolio and the broader macroeconomic environment [24]. Earnings Estimates - The Zacks Consensus Estimate for BAC's earnings in 2026 and 2027 has been revised down to $4.30 and $4.93, respectively, indicating growth rates of 12.9% and 14.3% [25][28]. - Despite the downward revision in earnings estimates, BAC's strong performance and strategic initiatives present an attractive risk-reward profile for long-term investors [27][28].

Bank of America (NYSE:BAC) 2026 Conference February 10, 2026 08:00 AM ET Company ParticipantsBrian Moynihan - Chairman and CEOIbrahim Poonawala - Head of North American Banks ResearchIbrahim PoonawalaWe'll go ahead and get started. Welcome to Bank of America's 34th Annual Financial Services Conference. I'm Ibrahim Poonawala, Head of North American Banks Research at BofA, and it's a pleasure to welcome you all. I would like to thank all the management teams and investors for their partnership, which has help ...

来源：滚动播报 美国银行将美国原材料类股票列入其"泡沫化"资产观察名单，此前该名单已包含黄金、白银及韩国首尔 综指。美国股市及科技巨头板块则保持相对稳定。美银运用其新推出的泡沫风险指标指出，客户对此类 资产的兴趣依然强劲，该行将每周发布报告重点提示市场过热领域。同时警告称，人工智能驱动的创新 可能加剧市场不稳定，催生更多泡沫风险。此外，美银特别指出欧洲股票（尤其是科技与基础资源板 块）出现异常高的回报分化现象，尽管整体指数涨幅有限。 ...