Bloomberg The money manager behind a Russia-focused ETF that collapsed after the country invaded Ukraine is warning that bank fees are “significantly eroding” what little of the fund’s value remains. VanEck said Citigroup Inc, JPMorgan Chase & Co. and Bank of New York Mellon are charging fees on Russian depository receipts that its Russia ETF (ticker RSX) primarily holds, …

  Bloomberg JPMorgan Chase & Co reported credit costs of $1.1 billion, with Chief Executive Officer Jamie Dimon describing mounting economic uncertainty even as he emphasized the bank is prepared for “whatever happens.” The $1.1 billion in provisions for credit losses included a $428 million build in reserves for loans that go sour and $657 million in net charge-offs, the …

  Bloomberg Liquidity in China’s interbank market is more than “reasonably ample,” a senior central bank official said, an indication that further interest rate cuts are unlikely. The 7-day reverse repurchase rate is around 1.6%, lower than the cost of short-term policy loans the People’s Bank of China (PBOC) provides via its daily open market operations, Zou Lan, the head …