Financials Down on Rate Caution - Financials Roundup

Banks, lenders and other financial companies ticked down as traders remained cautious on the outlook for interest rates. Federal Reserve Bank of Atlanta President Raphael Bostic said the central bank's plans to gradually raise interest rates remains appropriate. The Trump administration is considering former Pimco Chief Executive Mohamed El-Erian as one of several candidates to serve as the Federal Reserve's vice chairman, The Wall Street Journal reported. HSBC Holdings said its Swiss private-banking unit will pay $352 million to resolve charges that it helped clients evade taxes in France. The Federal Reserve Bank of New York said U.S. household debt totaled $12.955 trillion last quarter, up 0.9% from the spring and amounting to the highest tally ever.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 14, 2017 16:16 ET (21:16 GMT)