Small banks search for FCMs as June 10 deadline looms
In the US, banks with more than $10 billion in assets will be required to clear from June 10 – and the smallest of these institutions may not be attractive clients. Some are struggling to be ready in time, but others have shown it can be done. By Joe Rennison
If you stand on the east bank of the Willamette River, just south of the Hawthorne Bridge in Portland, Oregon, there is an excellent view of the downtown skyline. More or less opposite, overshadowed by the Wells Fargo Center and the KOIN Tower, is the city’s twentieth-tallest building, the red-brick headquarters of Umpqua Bank, which calls itself “the greatest bank in the world”.
That’s a bold claim for an $11.8 billion-asset community bank, but while Umpqua may not be known to many outside the
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