Wall Street Firms Urge Regulators To Rethink New Bank Capital Rules: Bank Stocks Show Mixed Reaction
Portfolio Pulse from Piero Cingari
Wall Street trade associations are urging U.S. regulators to reconsider their proposed bank capital rules. The groups argue that the rules could potentially stifle competition and impede their competitive standing. The Financial Select Sector SPDR Fund (XLF) was 0.2% higher, Morgan Stanley (MS) was up 2.3%, while the SPDR Regional Banking ETF (KRE) fell 1.2%, with Zions Bancorporation (ZION) underperforming within the industry.
September 13, 2023 | 4:41 pm
News sentiment analysis
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NEGATIVE IMPACT
The SPDR Regional Banking ETF (KRE) fell 1.2% following the news.
The news about Wall Street's appeal to reconsider bank capital rules could have led to a negative sentiment among investors, leading to a decrease in KRE's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Zions Bancorporation (ZION) underperformed within the industry following the news.
The news about Wall Street's appeal to reconsider bank capital rules could have led to a negative sentiment among investors, leading to a decrease in ZION's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Morgan Stanley (MS) was the outperformer, up 2.3% following the news.
The news about Wall Street's appeal to reconsider bank capital rules could have led to a positive sentiment among investors, leading to an increase in MS's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The Financial Select Sector SPDR Fund (XLF) was 0.2% higher following the news.
The news about Wall Street's appeal to reconsider bank capital rules could have led to a positive sentiment among investors, leading to a slight increase in XLF's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70