Financial Business Review: Citigroup Value MAY Fall, KeyBank ACQUIRING HSBC Branches

Weaknesses of certain foreign currencies against the dollar could cause Citigroup’s (NYSE:C) book value to fall between $3 billion and $5 billion in the current quarter, reports Charles Peabody of Portales Partners LLC. Although Citi depends upon developing nations for more than half its profits, and the Brazilian real and the Mexican peso have depreciated, the company does not agree with Peabody’s assessments.

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JPMorgan (NYSE:JPM) officially caps issuance of its popular Alerian MLP Index ETN (NYSE:AMJ) at the 129 million shares that are now outstanding. This action is connected to the difficulty of hedging the ETN’s influence on the master limited partnership market, and probably not much to do with Jamie Dimon’s promise to reduce risk.

KeyBank (NYSE:KEY) is acquiring 37 HSBC (HSBC) branches in Buffalo and Rochester, and says the transaction should close on July 13. The deal will add approximately $2.4 billions in deposits and $400 million in loans to the buyer’s balance sheet, which shows current assets of about $90 billion.

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