Latest news with #BNY
Yahoo
3 days ago
- Business
- Yahoo
BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. Declares Distribution
NEW YORK, May 28, 2025--(BUSINESS WIRE)--On May 28, 2025, BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (Ticker: XALCX) declared a distribution of $2.00 per share of common stock, payable on June 26, 2025, to shareholders of record at the close of business on June 11, 2025. The ex-dividend date is June 11, 2025. The previous distribution declared in February was a quarterly distribution of $2.00 per share of common stock. The Fund will be liquidated after the close of business on August 29, 2025. This will be the final distribution for the Fund. The Fund intends to pay most, but likely not all, of its net income to common shareholders in monthly income dividends. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare distributions monthly may be subject to change, including by the Board of Directors. Important Information BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. is a diversified, closed-end management investment company. BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Investments. BNY Investments is one of the world's largest asset managers, with $2.0 trillion in assets under management as of March 31, 2025. Through a client-first approach, BNY Investments brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY. Additional information on BNY Investments is available on Follow us on LinkedIn for the latest company news and activity. BNY Investments is a division of BNY, which has $53.1 trillion in assets under custody and/or administration as of March 31, 2025. Established in 1784, BNY is America's oldest bank. Today, BNY powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on Follow us on LinkedIn or visit our newsroom for the latest company news. BNY Investments' website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate the website in this release. The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. There is no assurance that the Fund will achieve its investment objective. View source version on Contacts For Press Inquiries:BNY Mellon Investment Adviser, Taylor For Other Inquiries:BNY Mellon Securities CorporationThe National Marketing Desk240 Greenwich StreetNew York, New York 102861-800-334-6899 Error while retrieving data Sign in to access your portfolio Error while retrieving data
Finextra
4 days ago
- Business
- Finextra
EBAday 2025: Who's afraid of agentic AI?
What potential does AI hold for the future of banking? What challenges and benefits do AI and GenAI-powered solutions pose? These questions were explored in an afternoon panel session at EBAday 2025. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Emmanuel Baviere, financial services advisor, Microsoft; Isabel Schmidt, EPO payment enablement platform, BNY; Oliver St Clair-Stannard, head of go-to-market, RedCompass Labs; Sébastien Racinais, head of innovation, global cash management, Crédit Agricole CIB; and Thomas Peeters, head of Western Europe, SWIFT, spoke on the panel session: 'AI and GenAI – What's in it for FIs?', moderated by Silvio Villa, senior manager, data science and AI, Be Shaping the Future. Baviere kicked off the panel session with a few slides comparing analytical AI to generative AI (GenAI) to left-brain and right-brain activities respectively, with one having a more analytical and direct approach, and the other acting more creatively and generatively. Baviere stated that there is a wave of employee productivity in using AI tools, such as ChatGPT. He noted the introduction of AI agents, that hold potential to streamline and industrialise payments processes under the management of humans. St Clair-Stannard said that AI agents are the next hurdle for banks, as they need to be mindful about AI agents making autonomous decisions on behalf of banks: 'See the use cases for AML fraud screening, anything that really touches on production data and on the live payment flow, we need to be very careful. If you're working with human in the loop or expert in the loop, there's always that ability to account for the decisions that are being made. As soon as you are making decisions autonomously with an agent, or once you start introducing an LLM into the ability to write and underwrite lending, any bias in the model is going to be amplified.' Adding to St Clair-Stannard's point, Schmidt said that humans act differently when they know that an AI has made a decision as opposed to another human; the behaviours are impacted. Peeter posited that SWIFT is not yet ready for AI bots and agents to make decisions, however, the humans that make the decisions are sometimes influenced by AI information, which may include another form of bias. St Clair-Stannard concluded that that the bottom line is trust, and that over time as AI models evolve, agents will take over these decisions as they will never be wrong. Schmidt stated that BNY has built an AI hub that integrated multiple systems and therefore had varied capabilities. She described that the hub and spoke model has a central team that develops the technology and 80% of employees have been AI trained in biases and ethical behaviours to use AI across the company. Schmidt highlighted how AI applications are streamlining everyday processes for employees, who were seeing and predicting how these applications can be democratised and that commercial processes can progress at a faster pace more efficiently. She added: 'In the end, it is important to remember that we are stewards of our own business, right? So the decision of how aggressively you move forward with developing AI has to go hand-in-hand with how much you invest in your second-line function and your control function. It's not just the people who apply it, but the people who actually manage to do this scenario, and risk appetite of the of your outbreak of respective institutions that makes the difference." SWIFT's Peeter detailed that AI is integrated in three places across the organisation: Using Copilot to help the staff, Detect anomalies and fraud, and In collaboration with financial institutions and industry groups on how to internationalise AI. Racinais detailed Credit Agricole CIB's AI journey; considering more complex use-cases with real-time outputs, he sees three key areas where AI can definitively make a difference: To better understanding their clients – AI can be used to personalise customer services, analyse transactional data of clients, and gain insights into their behavioural patterns. Operational efficiency – AI tools can optimise processing, automate tasks, enhance customer experience while reducing risk, streamline speed of execution, prioritise requests, and analyse sentiments to detect urgency or frustration. Developing new services – AI can be used in fraud detection and financial crime compliance checks. Racinais summarised that there are 'plenty of use cases with today's technology. AI is developing so fast and so quickly that we could imagine plenty of other use cases open up in the near future. I do believe we are converging towards a very hybrid model, where we still have human interaction when it is it is required, more self-care functionalities for customers, and potentially more machine to machine interaction.'
The Star
6 days ago
- Business
- The Star
Philippine peso advances to strongest since 2023 on dollar, oil
MANILA: The Philippine peso rose to its strongest level in almost two years against the dollar, buoyed by weakness in the US currency and oil prices. The peso gained 0.2% to around 55.17 per dollar on Monday (May 26), the highest since August 2023, as the greenback is weighed down by growing concerns over the US fiscal gap. Low crude oil prices are also benefiting the Philippines, a net fuel importer, and could help narrow its balance-of-payments deficit. "The impressive rally in the peso has been all dollar driven, and is increasingly deviating from domestic fundamentals,' said Wee Khoon Chong, senior Asia Pacific market strategist at BNY. "Key resistance level for the USD/PHP would be 55.41, while the major support level would be the 55.0 round figure.' The country's central bank signaled earlier this month that authorities are unlikely to intervene to curb the peso's appreciation. Investors also received some news of policy continuity on May 23 as President Ferdinand Marcos Jr. retained his economic managers, including Finance Secretary Ralph Recto, amid a Cabinet shakeup. Emerging Asia's trade-dependent currencies such as the ringgit and Taiwan dollar led most regional peers stronger versus the dollar on Monday, driven by bullish trade sentiment after President Donald Trump announced Sunday that he would extend the deadline for the European Union to face 50% tariffs until July 9. Nonetheless, growth concerns remained a headwind for the peso, as the nation's 5.4% economic growth in the first quarter undershot economists' estimates. Other worries included renewed speculation of more aggressive rate cuts with potential reserve requirement ratio reductions as well as a deterioration of the current account, BNY's Chong added. - Bloomberg
Business Wire
23-05-2025
- Business
- Business Wire
BNY Mellon Municipal Income, Inc. (NYSE: DMF) Announces Distribution
NEW YORK--(BUSINESS WIRE)-- The Fund intends to pay most, but likely not all, of its net income to common shareholders in monthly income dividends. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare distributions monthly may be subject to change, including by the Board of Directors. Important Information BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Investments. BNY Investments is one of the world's largest asset managers, with $2.0 trillion in assets under management as of March 31, 2025. Through a client-first approach, BNY Investments brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY. Additional information on BNY Investments is available on Follow us on LinkedIn for the latest company news and activity. BNY Investments is a division of BNY, which has $53.1 trillion in assets under custody and/or administration as of March 31, 2025. Established in 1784, BNY is America's oldest bank. Today, BNY powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on Follow us on LinkedIn or visit our newsroom for the latest company news. Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.
Yahoo
23-05-2025
- Business
- Yahoo
BNY Mellon Municipal Income, Inc. (NYSE: DMF) Announces Distribution
NEW YORK, May 23, 2025--(BUSINESS WIRE)--BNY Mellon Municipal Income, Inc. (NYSE: DMF) today announced a distribution of $0.078 per share of common stock, payable on June 16, 2025, to shareholders of record at the close of business on June 9, 2025. The ex-dividend date is June 9, 2025. The previous distribution declared in April was $0.019 per share of common stock. The Fund will be liquidated after the close of business on June 20, 2025. This will be the final distribution for the Fund. The Fund intends to pay most, but likely not all, of its net income to common shareholders in monthly income dividends. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare distributions monthly may be subject to change, including by the Board of Directors. Important Information BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Investments. BNY Investments is one of the world's largest asset managers, with $2.0 trillion in assets under management as of March 31, 2025. Through a client-first approach, BNY Investments brings investors specialist expertise through its seven investment firms offering solutions across every major asset class and backed by the breadth and scale of BNY. Additional information on BNY Investments is available on Follow us on LinkedIn for the latest company news and activity. BNY Investments is a division of BNY, which has $53.1 trillion in assets under custody and/or administration as of March 31, 2025. Established in 1784, BNY is America's oldest bank. Today, BNY powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on Follow us on LinkedIn or visit our newsroom for the latest company news. Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security. View source version on Contacts For Press Inquiries:BNY Mellon Investment Adviser, Taylor For Other Inquiries:BNY Mellon Securities CorporationThe National Marketing Desk240 Greenwich StreetNew York, New York 102861-800-334-6899 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
