News Highlights: Top Financial Services News of the Day

12/27/17 12:15 AM EST
Mitsubishi UFJ Seeks $4 Billion-Plus Deal for Indonesian Bank 

Mitsubishi UFG Financial said it planned to take a majority stake in a midsize Indonesian bank, bolstering its presence in a fast-growing Asian nation to balance weakness in Japan.

Tax Law Could Further Slow Down a Bank Favorite: Jumbo Mortgages 

The tax overhaul eliminates some benefits of homeownership, particularly for high-end homes. And the borrowers who buy those homes are exactly whom banks have been targeting.

Exempting Small Banks From Volcker Rule Is Popular, but Not With Their Regulator 

A Senate proposal to exempt thousands of small U.S. banks from the Volcker rule restrictions on speculative trading is winning broad support-except from the regulator that oversees most of those banks.

Can Central Banks Keep Control of Interest Rates? 

Investors are elated by a booming global economy and the promise of central banks to tighten monetary policy only gradually. But a question haunts them: Will interest rates develop a mind of their own?

Investors Diving Into Risky Bank Bonds 

Cocos are hot again. The junior bonds that are designed to help shore-up banks during a crisis are ending 2017 with yields near record lows but they can become risky in sudden and unexpected ways.

Tax Overhaul Could Jolt Dollar as Firms Bring Home Cash 

A provision of the tax overhaul is expected to release a tide of U.S. corporate cash from abroad, a development likely to jolt the dollar and reverberate throughout financial markets early next year.

Credit Unions Want Permanent Say Over Regulator's Budget 

A bill that could become law next year would require the U.S. credit-union regulator to submit its budget to public comment, a change that critics say gives the industry a platform for influencing its overseer.

Neuberger Unit Takes Minority Stake in Cerberus's Credit Arm 

Dyal Capital Partners bought the stake in Cerberus Business Finance, betting on a firm with a long history of lending to midsize companies.

Goodbye, George Bailey: Decline of Rural Lending Crimps Small-Town Business 

Banks are closing branches and paring credit in rural America, focusing instead on booming urban markets. That leaves communities without the friendly faces of finance that once sustained them, and worsens an already tough economic environment.

Bank of America to Give Employee Bonuses Following Tax Overhaul 

Bank of America is giving some employees $1,000 bonuses tied to the tax-overhaul bill, making it the latest company to announce such a perk since the legislation passed.


(END) Dow Jones Newswires

December 27, 2017 00:15 ET (05:15 GMT)

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