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2023-03-14

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It's more than just banks! American financial giants can't escape the "robbery"

嘉信理财的净利息收入也如同其他银行一样，面临着越来越大的风险。

It's more than just banks! American financial giants can't escape the "robbery"

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American financial giants can't escape the \"robbery\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1145863607","media":"华尔街见闻","summary":"嘉信理财的净利息收入也如同其他银行一样，面临着越来越大的风险。","content":"<html><head></head><body><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The impact of the crisis began to spread, and the financial giants also suffered a plunge.On Monday,<a href=\"https://laohu8.com/S/SCHW\">Charles Schwab</a>Sharp open low, falling more than 23% at the beginning of the session, the largest intraday decline in record, and the intraday decline exceeded 16% as of press time.<img src=\"https://static.tigerbbs.com/e1d6b4d069d0d2bd8ef45177d4ea1d66\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/>As an asset management giant, Schwab's portfolio of businesses grew to include financial advisory, custody services for registered investment advisors, and banking and lending. With the advent of commission-free trading, Schwab's other revenue streams are beginning to take on more importance.Charles Schwab's fourth-quarter earnings report showed that the company made more than $10 billion in net interest income last year, accounting for about half of its total full-year revenue.That portion of revenue is the difference between the interest Schwab earns on bonds and loans and the interest it pays on customer deposits.As interest rates rise, Schwab's net interest income, like other banks, is facing increasing risks.When short-term interest rates exceed 5%, investors are reluctant to leave cash idle in bank accounts.In the fourth quarter of last year, Schwab's deposits fell 17% from a year earlier and 7% from the third quarter, and in its most recently updated report, Schwab's client cash as a percentage of client assets fell to 11.6% in January from 12.3% in December.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Pointed out that,As short-term borrowing peaks later this year, Schwab's net interest margin could come under pressure-with<a href=\"https://laohu8.com/S/SIVB\">Silicon Valley Bank</a>、<a href=\"https://laohu8.com/S/SBNY\">Signature Bank</a>Exactly the same dilemma.Morningstar analyst Michael Wong wrote in a March 9 research note:Many banks and companies with related banking entities, such as Charles Schwab, also have significant unrealized losses on fixed-income securities on their balance sheets, as recent rising interest rates have reduced the value of the securities. Charles Schwab said in its fourth-quarter report that it took steps to boost liquidity last year, including accumulating available cash and tapping limited short-term funding sources such as retail certificates of deposit.Analysts at Keefe, Bruyette & Woods said the speed at which customers move cash may remain a concern for investors, though they don't think a deeper deposit outflow will lead to capital problems for Schwab, but it could raise questions about the company's near-term profitability Questions have forced Schwab to suspend or reduce buybacks.</body></html>","source":"live_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It's more than just banks! American financial giants can't escape the \"robbery\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's more than just banks! American financial giants can't escape the \"robbery\"\n</h2>\n<h4 class=\"meta\">\n\n华尔街见闻2023-03-13 22:08\n\n</h4>\n</header>\n<article>\n<html><head></head><body><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>The impact of the crisis began to spread, and the financial giants also suffered a plunge.On Monday,<a href=\"https://laohu8.com/S/SCHW\">Charles Schwab</a>Sharp open low, falling more than 23% at the beginning of the session, the largest intraday decline in record, and the intraday decline exceeded 16% as of press time.<img src=\"https://static.tigerbbs.com/e1d6b4d069d0d2bd8ef45177d4ea1d66\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/>As an asset management giant, Schwab's portfolio of businesses grew to include financial advisory, custody services for registered investment advisors, and banking and lending. With the advent of commission-free trading, Schwab's other revenue streams are beginning to take on more importance.Charles Schwab's fourth-quarter earnings report showed that the company made more than $10 billion in net interest income last year, accounting for about half of its total full-year revenue.That portion of revenue is the difference between the interest Schwab earns on bonds and loans and the interest it pays on customer deposits.As interest rates rise, Schwab's net interest income, like other banks, is facing increasing risks.When short-term interest rates exceed 5%, investors are reluctant to leave cash idle in bank accounts.In the fourth quarter of last year, Schwab's deposits fell 17% from a year earlier and 7% from the third quarter, and in its most recently updated report, Schwab's client cash as a percentage of client assets fell to 11.6% in January from 12.3% in December.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Pointed out that,As short-term borrowing peaks later this year, Schwab's net interest margin could come under pressure-with<a href=\"https://laohu8.com/S/SIVB\">Silicon Valley Bank</a>、<a href=\"https://laohu8.com/S/SBNY\">Signature Bank</a>Exactly the same dilemma.Morningstar analyst Michael Wong wrote in a March 9 research note:Many banks and companies with related banking entities, such as Charles Schwab, also have significant unrealized losses on fixed-income securities on their balance sheets, as recent rising interest rates have reduced the value of the securities. Charles Schwab said in its fourth-quarter report that it took steps to boost liquidity last year, including accumulating available cash and tapping limited short-term funding sources such as retail certificates of deposit.Analysts at Keefe, Bruyette & Woods said the speed at which customers move cash may remain a concern for investors, though they don't think a deeper deposit outflow will lead to capital problems for Schwab, but it could raise questions about the company's near-term profitability Questions have forced Schwab to suspend or reduce buybacks.</body></html>\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://wallstreetcn.com/articles/3683923\">华尔街见闻</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/db7c43fbe3505163a87d780d51b9837d","relate_stocks":{"SCHW":"嘉信理财"},"source_url":"https://wallstreetcn.com/articles/3683923","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1145863607","content_text":"美国银行危机影响开始蔓延，理财巨头也遭遇了暴跌。周一，嘉信理财大幅低开，盘初一度跌超23%，创纪录最大盘中跌幅，截至发稿盘中跌幅超16%。作为资产管理巨头，嘉信理财的业务组合发展到包括金融咨询、注册投资顾问托管服务以及银行和贷款。随着免佣金交易的出现，嘉信理财的其他收入来源也开始变得更为重要。嘉信理财第四季度收益报告显示，该公司去年取得了超过100亿美元的净利息收入，约占其全年总收入的一半。这部分收入是嘉信理财从债券和贷款上赚取的利息与支付客户存款利息之间的差额。随着利率上升，嘉信理财的净利息收入也如同其他银行一样，面临着越来越大的风险。在短期利率超过5%的情况下，投资者们都不太愿意将现金闲置在银行账户中。去年第四季度，嘉信理财的存款较上年同期下降17%，较第三季度下降7%，在最近更新的报告中，嘉信理财1月份客户现金占客户资产的比例从12月份的12.3%降至11.6%。摩根大通指出，随着短期借款在今年晚些时候达到峰值，嘉信理财的净息差可能面临压力——与硅谷银行、Signature Bank如出一辙的困境。晨星分析师Michael Wong在3月9日的一份研究报告中写道：许多银行和拥有相关银行实体的公司，如嘉信理财，在资产负债表上也有大量固定收益证券的未实现亏损，因为最近上升的利率降低了固定收益证券的价值。嘉信理财在其第四季度报告中称，该公司去年采取措施提振流动性，包括积累可用现金，并利用零售存单等有限的短期资金来源。Keefe, Bruyette & Woods的分析师表示，客户转移现金的速度可能仍是投资者担忧的一个问题，不过他们认为，更严重的存款外流不会导致嘉信理财出现资本问题，但这可能会引发人们对该公司近期盈利能力的质疑，并迫使嘉信理财暂停或减少回购。","news_type":1,"symbols_score_info":{"SCHW":0.9}},"isVote":1,"tweetType":1,"viewCount":2859,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}