News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

The New Face of Treasury Auctions

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During the financial crisis, the borrowing needs of the U.S. more than tripled, and foreign investors and Wall Street banks bought most of the debt at government bond auctions. But recent years have seen a shift in who is buying Treasurys.

U.S. Bitcoin Futures Climb in First Day of Trade

Trade in the first bitcoin futures sparked a swift run-up in the price of the digital currency, while the exchange provider's website experienced outages from heavy traffic.

Adrian Orr to Be New RBNZ Governor

The government on Monday announced that the current head of New Zealand's sovereign-wealth fund, Adrian Orr, has been selected to lead the country's central bank.

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J.P. Morgan Chase's Sapphire Reserve Card Gets a New Chief

J.P. Morgan Chase is bringing in a new executive to run one of its hottest products, the Sapphire Reserve credit card, at a time when doubts have surfaced within the bank about its financial prospects.

Why Bitcoin? Why Now?

For most of its nine-year history, bitcoin has been a financial-markets sideshow, sneered at as a plaything of criminals. No longer: 2017 is the year the digital currency stole the spotlight.

Trump Vows Punishment for Wells Fargo

President Trump threw himself into a debate about the direction of a consumer-finance regulator, pledging punishment for Wells Fargo despite his administration's promise to ease postcrisis financial regulation.

SEC Delays New Mutual Fund Disclosures, Citing Security

Mutual funds will get a nine-month reprieve from sending detailed portfolio information to their regulator as the government reviews how to ensure the valuable data isn't hacked.

U.S. Regulators Consider Revising Leveraged-Lending Guidelines

U.S. banking regulators have told Congress they are considering reissuing guidelines that were the basis for a crackdown on leveraged lending.

Voya in Talks With Apollo to Sell Annuity Assets

Voya Financial is in advanced talks to sell about $50 billion of retirement-income annuities to private-equity giant Apollo Global.

China Levies Large Fine on Bank Over Bond Guarantees

China's banking watchdog fined a midsize bank more than $100 million for its role in a bond default last year, one of the largest penalties levied on a Chinese bank and a sign Beijing is ramping up a crackdown on ways banks have been hiding risks.

(END) Dow Jones Newswires

December 11, 2017 00:15 ET (05:15 GMT)