Financial Performance & Growth Drivers - BNY's profits beat estimates for the quarter, largely due to a jump in fees [1] - The company attributes growth to internal improvements, including desiloing, transformation projects, AI integration, and improved customer service [2] - Approximately 2/3 (66.67%) of BNY's pre-tax income now comes from businesses outside of traditional trust banking [5] Business Strategy & Transformation - BNY is focused on desiloing its various businesses to provide a more integrated service to customers [2][6][8] - The company is investing in digital assets and tokenization as part of a broader strategy to capitalize on mega trends [9][10] - BNY aims to be a leader in new technologies and a standard setter in the global financial system [13][14] Market Outlook & Risk Management - The CEO acknowledges a good operating environment for banks, characterized by exuberant markets, tight credit spreads, and low rates [2][3] - While acknowledging potential risks, BNY does not foresee a major market blowup, citing fundamental support in the US economy [17] - The company emphasizes the importance of risk management and vigilance regarding individual situations [16][18] Legal & Reputational Issues - BNY is facing new lawsuits related to its ties to Jeffrey Epstein, which the company intends to contest vigorously [18][19]

BNY profits beating estimates for the quarter thanks in large part to a jump in fees. Still shares flat this morning. On the beat, CEO Robin Vince joins us here at Post 9.Welcome back. Good to see you. >> It's good to be with you.>> I mean, you do continue to see some nice growth. What's driving it. >> Yeah.Well, it's the people of the company. We are collectively pulling together. We've desoed the company. We've got two big transformation projects.Our commercial model, our platforms operating model. We're ...

Core Insights - U.S. Bancorp reported a third-quarter net income of $2 billion, reflecting a 17% increase compared to the same period in 2024, driven by a surge in fee income and stable credit quality [1][10]. Financial Performance - The third-quarter revenue reached $7.3 billion, marking a 7% increase year-over-year, primarily due to a significant rise in noninterest income, which increased by 14% to $3.1 billion [2]. - Mortgage banking revenue rose by 16% to $180 million, while capital markets income increased by 9% to $434 million, aligning with trends observed in other major banks [3]. - U.S. Bancorp's noninterest expense for the third quarter was $4.2 billion, consistent with the previous year's figure [3]. Credit Quality - Credit quality remained robust, with net charge-offs decreasing by 5% to $536 million and nonperforming loans falling by 10% to $1.65 billion, reflecting improvements consistent with other regional and money center banks [4]. Strategic Initiatives - The company is enhancing its position in the digital assets space, having been selected by Anchorage Digital Bank as a custodian for its new stablecoin platform, and is establishing a digital assets and money movement group to focus on cryptocurrency custody and asset tokenization [5][6]. Earnings Metrics - U.S. Bancorp's earnings per share for the third quarter was $1.22, surpassing analysts' expectations of $1.11, with a return on assets of 1.17% and a return on tangible common equity of 18.6%, both exceeding medium-term targets [7]. - The company anticipates fourth-quarter results to be in line with third-quarter performance, projecting net interest income around $4.25 billion and fee income approximately $3 billion [8]. Deposits and Loans - As of September 30, U.S. Bancorp's total deposits amounted to $526 billion, reflecting a 1% increase from the previous year, while loans increased by 1.4% to $382.5 billion [9].

Core Insights - Corporate balance sheets now hold approximately 1.04 million BTC, valued at around $117 billion, marking a new record for corporate Bitcoin holdings [2] - The number of public companies holding Bitcoin has increased by 40% from the previous quarter, reaching 172 firms, which collectively added about 193,000 BTC quarter-over-quarter [2] - MicroStrategy leads corporate Bitcoin holdings with approximately 640,031 BTC, followed by Marathon Digital Holdings with 53,250 BTC and XXI with 43,514 BTC [2] Corporate Trends - New entrants such as Bullish and Trump Media are joining the ranks of corporate Bitcoin holders, with holdings of 24,300 BTC and 15,000 BTC respectively [3] - Companies are increasingly viewing Bitcoin not just as a hedge but as a long-term investment in digital assets as a core treasury reserve [3] - The trend of public and private companies increasing their Bitcoin holdings is expected to continue as long as there is demand for their security issuance in the public market [3] Market Implications - The accumulation of Bitcoin by public companies is seen as a factor that could stabilize Bitcoin's price, potentially leading to less volatility in the future [5][6] - As more major players invest in Bitcoin, it may encourage additional companies to follow suit, creating a more permanent demand for the asset [5] - The relationship between Bitcoin and equity-market financing is expected to strengthen, making it easier for CFOs to justify Bitcoin ownership [6]

ETF Market Trends - ETF flows are experiencing a global surge, with record-breaking performance in the first half and Q3 of the year [1][2] - The growth is broad-based, spanning across various asset classes, including digital assets, active strategies, and index funds [2] - Actively managed ETFs are gaining traction, accounting for approximately 37% of inflows this year, compared to just over 25% last year [3] Investor Preferences - Investors seek alpha, tax efficiency, and liquidity in actively managed ETFs [5][6][7] - Investors are looking for yield and moving into short-term government bond ETFs to capture higher returns compared to holding cash [12] - Investors are showing interest in growth and income strategies, including outcome ETFs that offer upside potential with income [9][10] Specific ETF Flows - Digital asset ETFs are experiencing significant momentum and increased accessibility [9] - Short-term treasury ETFs are attracting investors seeking yield [11][12] - Some investors are moving away from index funds, with the SPY S&P 500 ETF experiencing net outflows of over $6 billion this year [8] Future Outlook - The industry anticipates continued momentum in digital asset ETFs [9] - Expects growth in growth and income strategies [9] - A potential influx of funds from the $7 trillion sitting on the sidelines in money market funds into the ETF industry is anticipated [12][13]

Company Initiatives - US Bancorp has established a new division focused on digital assets and money movement [1] Financial Highlights - US Bancorp manages $74 billion in assets [1]

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🇬🇧 LATEST: Bank of England will lift stablecoin holding limits once digital assets no longer threaten the economy, calling the restrictions temporary. https://t.co/Rylap5iG9R ...

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"We've seen a new level of interest and commitment from financial institutions and financial market infrastructures in digital assets."At Sibos 2025, @SergeyNazarov joined @fintechf to discuss how Chainlink delivers the interoperability needed for major financial institutions to securely engage with digital assets at scale ↓ ...