What the new Labour government means for your money

Now that the dust has settled on the election we can take stock of what a Labour win will mean for your finances

MTB Aug 2024 145.000 put

OPR - OPR Delayed price. Currency in USD

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4.2200

+1.2700

(+43.05%)

At close: 12:25PM EDT

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Fortune
Morgan Stanley just made this sleeper bank stock its top pick after acing its stress test
This Buffalo-based bank was the highest-scoring regional bank to be tested.
PR Newswire
M&T Bank Corporation Announces Preliminary Stress Capital Buffer
M&T Bank Corporation ("M&T" or the "Company") (NYSE: MTB) today announced the Federal Reserve Board has determined the Company's preliminary stress capital buffer ("SCB") requirement is 3.8%, down from 4.0% previously. The Federal Reserve Board will provide the Company's final SCB requirement on or before Aug. 31, 2024. Once finalized, the new SCB requirement will be in effect beginning on October 1, 2024.
Yahoo Finance
Big banks pass Fed stress test as they fight stricter capital rules
The biggest US banks proved to the Fed they would all be able to withstand a severe global recession, demonstrating strength while they push regulators to adjust a set of proposed capital rules.