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BANKING TECHNOLOGY, INVESTMENT BANKING, RETAIL BANKING | Staff Reporter, Singapore
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Weekly Global News Wrap Up: JPMorgan to nab a stake in InvestCloud; China’s shadow banking could lose $375b

And Deutsche Bank to convert billions worth of corporate loans into marketable securities.

According to Reuters, in response to threats from Silicon Valley companies set to disrupt JPMorgan Chase & Co’s business, the bank announced it will invest in software provider InvestCloud. “Rather than vowing to block upstarts, Dimon has chosen to embrace those with technology that provides better customer service at lower costs,” said Reuters. Read more here.

Losses of $375b loom for China’s shadow banking industry according to CLSA estimates of likely levels of bad debt. According to a report by Bloomberg, CLSA estimated the potential bad debt ratio for “bank-related shadow financing” at 16.4 percent, or 4.2 trillion yuan. Read more here.

Reuters reports that Deutsche Bank plans to convert billions of dollars of corporate loans into marketable securities. This year's deal volume is to be lower than last year's $5.5 billion and is unrelated to the mortgage probe. The process will be handled by the bank, according to Reuters’ source. Read more here.

Following the Wells Fargo fiasco on Wall Street, Sen. David Vitter, R-Louisiana, said in a CNBC report that there is a very dangerous trendline in the banking industry. “Maybe these institutions, we talk about too big to fail, they seem like they are too big to manage or too big to properly regulate also.” Read more here.

 

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