Primary dealer news scan for 3 October 2022, 11:45 am EDT: Credit Suisse under duress…

Primary dealer. Credit Suisse. “The No. 2 Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the U.S. bank Lehman Brothers in September 2008. This event triggered one of the most serious financial and economic crises since the Great Depression.” — MSN.com.

Primary dealer. Bank of New York Mellon. “Charter Oak Capital Management LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK – Get Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,154 shares of the bank’s stock, valued at approximately $48,000.” — Defense World.

Primary dealer. JP Morgan Chase. “Karpas Strategies LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,457 shares of the financial services provider’s stock after purchasing an additional 268 shares during the quarter. Karpas Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $2,416,000 as of its most recent SEC filing.” — Defense World.

Primary dealer. Wells Fargo. “Hennion & Walsh Asset Management Inc. increased its stake in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) by 17.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,966 shares of the financial services provider’s stock after acquiring an additional 2,228 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Wells Fargo & Company were worth $586,000 at the end of the most recent reporting period.” — Defense World.