Goldman's investment arm says bank stocks are top pick for 2013

Goldman Sachs Group Inc's investment-management arm is telling clients that the best place to put their money this year is in stocks of U.S. banks, even after their recent run-up.

Bank of America and Morgan Stanley revenues boosted by ECB's LTRO loans

The banks saw trading revenues surge in the first quarter of the year as the wave of cheap, three-year loans that the ECB began in December revived appetite to make bets across a range of asset classes.

US stocks gain following latest Greek debt deal

NEW YORK: US stocks rose on Monday after Greece's parliament voted for spending cuts so it can get a bailout to save the country from bankruptcy.

Banking Worries Send Stocks Lower in U.S.

Financial stocks fell by more than 2 percent in the United States on Monday and shares were mixed in Europe after remarks by European Central Bank officials and the prospect of increasing capital requirements suggested further challenges ahead for banks.

Fitch Downgrades Ratings of Bank of America Corporation

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has downgraded the Issuer Default Ratings (IDRs) of Bank of America Corporation (BAC) to 'A/F1' from 'A+/F1+' and the viability rating (VR) to 'bbb+' from 'a-', and removed these ratings from Rating Watch Negative.

Consumer bureau chief showdown looms

WASHINGTON (CNNMoney) -- The Consumer Financial Protection Bureau -- a point of pride in the Obama administration's efforts to reform Wall Street -- faces a key test in the Senate on Thursday over whether it will have a director with real power.

Korea's Sovereign Wealth Fund Considers Raising Bank of America Stake

SEOUL—South Korea's sovereign-wealth fund is considering investing the remainder of a dividend it received from Bank of America Corp. to increase its stake in the U.S. banking giant from 0.67%, and it will address its investment plans at a meeting Wednesday, people familiar with the matter said Friday.

Word of the possible investment comes after Korea Investment Corp., which invests funds from the Ministry of Strategy and Finance and the Bank of Korea, reinvested $78 million of the $145 million in dividends it has received from Bank of America in several transactions earlier this year.

U.K. Prosecutors to Assist U.S. on Fund Bribery Probes

U.K. prosecutors are assisting the U.S. Securities and Exchange Commission on inquiries involving financial institutions and whether bribes were paid in transactions with sovereign wealth funds.

The Serious Fraud Office, which prosecutes corruption and white collar crime in Britain, has been contacted by the U.S. regarding the probes, SFO Director Richard Alderman said in an interview yesterday.

“We’re talking to the Americans about various issues,” Alderman said, without specifically identifying the companies.