09:26 AM EDT, 08/16/2024 (MT Newswires) -- Financial stocks were declining in Friday's premarket activity, with The Financial Select Sector SPDR Fund ( XLF ) down 0.2%.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was 1.1% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was up nearly 1%.

Bank of America ( BAC ) said that on Aug. 24 it will redeem the entire 1.50 billion euros ($1.70 billion) in principal amount of its floating rate senior notes due Aug. 24, 2025. Bank of America ( BAC ) shares were 0.3% lower pre-bell.

A consortium led by Sixth Street Partners agreed to purchase Credit Suisse's US mortgage servicing business from UBS Group ( UBS ) , Bloomberg reported, citing people familiar with the matter. UBS Group ( UBS ) shares were 0.2% higher in recent Friday premarket activity.

Deutsche Bank's ( DB ) settlement offer for shareholders, who sued the company for underpaying them following its Postbank acquisition, was rejected for being too low, Reuters reported, citing Jan Bayer, a lawyer for the plaintiffs. Deutsche Bank ( DB ) shares were up 0.6% pre-bell.