Tag: Bank of America

Multiple Bank of America Clients Lose Valuables From Safety Deposit Boxes

While a safety deposit box at a bank may seem like the most secure place to store expensive jewelry and important documents, a few clients have found out otherwise. Apparently, if the bank doesn’t have all your required information, they can drill into your safety deposit box and remove all its contents. Moreover, the bank will ship you the contents in a safety deposit box via uninsured UPS postage. According to …
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Microsoft Teams Up with Bank of America to Explore Blockchain Integration Into the Financial Industry

Microsoft and Bank of America have announced their merger to “fuel transformation of trade finance transacting” with the help of the technology behind the blockchain. “In an announcement at the annual SWIFT-organized Sibos conference, Microsoft and Bank of America Merrill Lynch underlined their collaborative aim to usher in blockchain technology to transform the trade finance sector,” one report said. This is only one of many partnerships between the financial and …
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US Bank Stocks Lose 13% Amidst Global Financial Turmoil

For those investors who own US bank stocks, the past few days have not been pleasant by any means. Both Bank of America and Morgan Stanley dropped by 13% in value, Goldman Sachs, one of the big opposers of Bitcoin, is down 22% throughout 2016 so far. Diversification is essential for investors, and anything tied to US banks is not worth one’s time and effort. US Bank Stocks In Dangerous …
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Major Banks Trial Credit-Default Swaps Blockchain Trading System

Several large financial institutions (JP Morgan, Citigroup, Bank of America, Credit Suisse Group) have participated in a blockchain trial involving credit-default swaps (CDS) derivative contracts. The CDS contracts became well-known after the 2008 financial crisis, when the instruments were widely-used by banks and investment firms to gain exposure to the mortgage backed securities (MBSs) market. According to a WSJ article, the experiment revealed that a certain portion of the clearing …
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