Bank New York Mellon Corp - BK STOCK NEWS

BNY Alcentra Global Multi-Strategy Credit Fund, Inc. has announced a quarterly Tender Offer for 2.5% of its outstanding shares. The offer will commence on October 16, 2024 and expire on November 13, 2024 at 5:00 p.m. Eastern Time. The price will be the net asset value per share as of September 30, 2024.

The Fund will file a tender offer statement with the SEC, including an Offer to Purchase and related documents. Shareholders can obtain these documents free of charge on the SEC's website. The Tender Offer will not be available in jurisdictions where it would violate local laws.

BNY Investment Adviser, Inc. manages the Fund as part of BNY Investments, which has $2.0 trillion in assets under management as of June 30, 2024. BNY, the parent company, has $49.5 trillion in assets under custody and/or administration.

BNY Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) has announced a distribution of $0.0300 per share of common stock, payable on November 1, 2024 to shareholders of record at the close of business on October 18, 2024. The ex-dividend date is also October 18, 2024. This distribution matches the previous one announced in September.

The Fund aims to make regular monthly distributions at a stable rate based on projected performance. BNY Investment Adviser, Inc., the Fund's investment adviser, is part of BNY Investments, which manages $2.0 trillion in assets as of June 30, 2024. BNY Investments is a division of BNY, which has $49.5 trillion in assets under custody and/or administration as of the same date.

BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) has declared a monthly distribution of $0.035 per share, payable on October 24, 2024, to shareholders of record as of October 9, 2024. This matches the previous distribution declared in August. The fund will be liquidated after November 25, 2024, making this the final distribution.

The Fund aims to pay most of its net income to shareholders through monthly dividends, though this policy may change based on market conditions. BNY Investment Adviser, part of BNY Investments, manages the Fund. BNY Investments is a major asset manager with $2.0 trillion under management as of June 30, 2024. BNY, the parent company, has $49.5 trillion in assets under custody and/or administration.

BNY High Yield Strategies Fund (NYSE: DHF) has declared a monthly cash dividend of $0.0175 per share from net investment income. The dividend is payable on October 23, 2024, to shareholders of record at the close of business on October 8, 2024. The ex-dividend date is also October 8, 2024. This dividend amount is consistent with the previous dividend declared in August.

BNY Investment Adviser, Inc., the fund's investment adviser, is part of BNY Investments, which manages $2.0 trillion in assets as of June 30, 2024. BNY Investments is a division of BNY, which has $49.5 trillion in assets under custody and/or administration as of the same date.

BNY has released the results of its 2024 Voice of Community Banks Survey, conducted with Harris Poll. The survey polled key decision-makers in community banks across the United States on topics including digital banking solutions and fintech collaborations.

Key findings include:

• Over 90% of community banks are looking to initiate digital transformations, but less than 20% see themselves as data analytics experts.
• Nearly 30% believe launching new technology services focused on efficiency and security is critical for competitiveness.
• 100% of banks looking to expand capabilities want to provide wealth management services, and over 95% are interested in treasury services.

The survey highlights community banks' eagerness to collaborate with large institutions and fintechs on solutions for enhancing customer satisfaction and managing operations. BNY's Community Banking & Solutions team aims to support these banks in finding the right solutions for their needs.

BNY has announced a decrease in its Prime Lending Rate by 0.50 percentage points, from 8.50% to 8.00%. This change will take effect on Thursday, September 19, 2024. The Prime Lending Rate is a key benchmark used by banks to set interest rates for various types of loans, including credit cards, mortgages, and business loans.

This reduction in the Prime Lending Rate could potentially impact borrowing costs for consumers and businesses, making loans more affordable. It may also affect interest rates on savings accounts and certificates of deposit. The decision to lower the rate may be influenced by broader economic factors and monetary policy decisions.

BNY (NYSE: BK) has announced the redemption of its Floating Rate Senior Notes due October 25, 2024. The redemption will cover all outstanding Notes with an aggregate principal amount of $400 million. The redemption date is set for September 25, 2024, with the redemption price equaling 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the redemption date. After this date, the Notes will no longer be outstanding, and interest will cease to accrue. The payment will be processed through The Depository Trust Company facilities.

America250, in collaboration with BNY, has launched the second installment of 'America's Field Trip' - a nationwide scholastic contest for students in grades 3-12. The contest, running from September 16, 2024, to April 16, 2025, invites students to submit artwork or writing reflecting on what America means to them.

First-place awardees will receive an all-expenses-paid field trip experience to iconic American historical and cultural sites, while second-place winners will receive a $500 cash award. The contest aims to foster a deeper understanding of shared history and values among young people as part of the 250th anniversary celebration of the Declaration of Independence's signing.

BNY is supporting this initiative, and Discovery Education has developed educational resources to help teachers integrate the contest into their classrooms. The contest is open to all U.S. students, with different submission requirements for each grade band.

BNY (NYSE: BK) has announced the launch of Alts Bridge, a comprehensive platform designed to simplify access to alternative and private market investments for wealth intermediaries, advisors, and investors. The platform will offer a curated suite of leading alternative asset managers and provide features across pre-, at-, and post-trade processes, including advisor education, automated document preparation, and integrated reporting.

Key highlights:

• Alts Bridge aims to address the growing demand for alternative investments in wealth management
• The platform will initially integrate with BNY Pershing X's Wove advisory platform and NetX360+
• It leverages BNY's expertise across investment management, advisory, and wealth technology
• Expected launch for U.S. RIAs and IBDs in fall 2024