PNC to pay $11.6B for US unit of Spain's BBVA

PNC to pay $11.6B for US unit of Spain's BBVA | US banks request recalibration of Fed's G-SIB rules | US banks see drop in credit card lending Created for {EMAIL} | [Web Version]( November 18, 2020 [SIGN UP]( ⋅ [SHARE]( [] Risk Management and Insurance [] [PNC to pay $11.6B for US unit of Spain's BBVA]( PNC Financial Services Group has agreed to purchase the US division of Spanish bank BBVA for $11.6 billion, a deal that would form the fifth-biggest bank in the US. The tie-up, the biggest since a 2019 merger of SunTrust Banks and BB&T, would give PNC a larger presence in southeastern and Western states and more than $550 billion in assets. Full Story: [The Wall Street Journal (tiered subscription model)]( (11/16), [Financial Times (subscription required)]( (11/16), [Reuters]( (11/16), [The New York Times (tiered subscription model)]( (11/16) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [US banks request recalibration of Fed's G-SIB rules]( Some US global systemically important banks could face higher capital requirements unless there is a recalibration of the Federal Reserve's G-SIB assessment methodology in the wake of the coronavirus pandemic, bank executives say. Some banks could see their G-SIB surcharges increase by 50 basis points, though experts say changes this year are unlikely. Full Story: [Risk (subscription required)]( (11/11) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [US banks see drop in credit card lending]( Financial Times (subscription required) (11/15) [] Cybersecurity [] [Expert: Banks, clients have role in beating cybercrime]( Banks' shift toward online services means they and their customers must be more alert than ever to the risk of cybercrime, says fraud prevention expert Leslie Ragan. Cybercriminals have exploited the coronavirus pandemic and the proliferation of digital services to find new ways to target victims, Ragan says. Full Story: [PYMNTS]( (11/16) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Researchers: Spoofed commercial websites again possible]( Ars Technica (11/12) [] Government Regulation [] [Biden reportedly considering Yellen to head Treasury]( Former Federal Reserve Chair Janet Yellen is among candidates President-elect Joe Biden is considering for treasury secretary, sources say. 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