Key Takeaways
- Bank of America (BAC) has announced a significant leadership restructuring, promoting Jim DeMare and Dean Athanasia to co-presidents, signaling continuity in its strategic direction.
- US bank deposits increased by $30 billion in the prior week, rising to $18.400 trillion from $18.370 trillion, as reported by the latest Federal Reserve data.
- The Federal Reserve's H.8 release, providing weekly insights into the assets and liabilities of commercial banks, continues to be a critical indicator for the health of the U.S. banking sector.
- S&P Global Ratings has affirmed Spain's sovereign credit rating at 'A/A-1' with a stable outlook, reflecting the nation's strengthening external financial position and robust economic growth.
Bank of America (BAC) has initiated a key leadership reshuffle, promoting Jim DeMare, previously the head of Global Markets, and Dean Athanasia, who led Regional Banking, to the roles of co-presidents. This move is part of a broader restructuring of the bank's leadership bench, with Alastair Borthwick also taking on the title of Executive Vice President in addition to his current duties as Chief Financial Officer. The promotions come as CEO Brian Moynihan has indicated his intention to remain in his position through the end of the decade, suggesting a strategic succession planning process is underway.
In the broader U.S. financial landscape, commercial bank deposits saw an increase in the past week. Total US bank deposits rose by $30 billion, reaching $18.400 trillion from $18.370 trillion in the preceding week. This data, released as part of the Federal Reserve's weekly H.8 report, provides a crucial snapshot of the banking sector's liquidity and stability.
The Federal Reserve's H.8 release, officially titled "Assets and Liabilities of Commercial Banks in the United States," is a vital tool for analysts and the public, typically becoming available every Friday by 4:15 p.m. ET. The report offers an estimated aggregate balance sheet for all commercial banks in the U.S., further disaggregated into categories such as foreign, large domestic, and small domestic banks, enabling a detailed assessment of the sector's performance. The most recent release date for the H.8 data was September 5, 2025.
Internationally, S&P Global Ratings has affirmed Spain's long- and short-term foreign- and local-currency sovereign credit ratings at 'A/A-1', maintaining a stable outlook. This affirmation, issued on March 14, 2025, underscores the balanced risks to Spain's economic growth and budgetary outcomes over the next two years. Spain's economy stands out as one of the fastest-growing within the eurozone and the OECD, with its GDP per capita expanding by an average of 1.5% between 2022 and 2024. The stable outlook is supported by a strengthening external financial position, driven by ongoing external deleveraging and consistent current account surpluses. Despite a high government debt-to-GDP ratio, currently around 100%, forecasts suggest a gradual decline in the coming years.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.