do banks do this?

Yes it happens, sometimes after a final round interview

This could definitely happen, especially if you are going through OCR. Regarding your situation, it probably is good news (emphasis on probably) since most rejections calls, from what I hear, are made by HR personnel. From my experience, offers come from the people that interviewed you.

yes

From my experience, rejections are usually made by HR either via a call or email, and offers are given out by your interviewers. Some are douches and will never get back to you. That said, I've gotten one rejection from an interviewer and one offer from HR, so don't get all depressed because HR called instead of the MD or something.

Great. Thank everyone for sharing. I'll share my experience in the future.

Anyone else would like to contribute to the subject? Thanks.

I still haven't received the call, although I was told that I would get the call by today. I am anxiously waiting.

Good news came from interviewer in all of my interviews except for one, where good news came from HR and (i heard from friends) bad news came from the interviewer. Normally HR calls are a ding and trails good news by a couple of days.

I have to say, the unease of waiting is overwhelming.

I've heard of the practice where they tell everyone they will call or will be "hearing from them shortly," and if they are not going to extend an offer, the bank simply does not call the recruit.

To shed a positive story to the above and other remarks...

I received a call from HR telling me to hang in there as they were moving through the process and wanted to make sure I was not entertaining offers elsewhere. Received a call a few days later to interview with a few more senior bankers in a particular group and then was extended an offer the following day.

So don't lose hope. Good luck!

It turns out that they had some administrative issues to clear and it took some time. I just got the offer. Thanks to everyone for sharing.