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...Either way, we urgently need some behavioural finance analysis, since American banks will stay healthy only if they hang on to deposits — and digital herding could increase the risks of turmoil in other...
...And money market funds, which use the same structure as investment mutual funds but compete with banks for cash savings, currently hold an additional $6tn in assets, an all-time high....
...After all, they noted, that was how America exited its own 1980s Savings and Loans crisis: it auctioned bad loans via a Resolution and Trust Corporation, in a way that pulled opportunistic investors back...
...Private credit and leveraged lending markets remain vulnerable to “sharp revaluations”, the Bank of England has warned, in its latest attempt to sound alarm bells about risks building up in non-bank finance...
...“We knew, as an American company, that Europe and the UK is the most complicated region in the world. We needed local talent and local leadership.”...
...“That, I think, is at the heart of the trust deficit — and at the heart of the very difficult discussions happening.”...
...So if you have enormous savings, what do you do with it? You buy property....
...The Indiana Bankers Association, which represents 116 banks, is lobbying against legislation that would require the state to divest and cancel contracts with financial groups that consider “social, political...
...One reason: Americans are locked into lower rates....
...Kyle shone a light towards the bank, picking up the glowing red eyes of dozens of crocodiles watching us drift past....
...“You had these three very powerful bodies, the Treasury, OBR and the Bank of England....
...By the end of 2022, fewer Americans had already reported being able to cover an unexpected $400 expense using cash, savings or a credit card that could be immediately paid off....
...In case you haven’t noticed, it’s hard to trust anything you hear right now. As of tonight, tens of millions of Americans suspect that this election was stolen from them....
...“Argentines have $250bn in dollar bills stashed under their mattresses or in safe deposit boxes because they don’t trust the banks,” he says....
...rounds American deal sizes are around three times larger than their British counterparts....
...“This week’s actions demonstrate our resolute commitment to ensure that our financial system remains strong and depositors’ savings remain safe.”...
...Yes, savings are going down. But look at all the good stuff. And one of the main good things we were talking about is a persistently strong consumer....
...But, in February, she spent a large part of her savings on a €420,000 flat in Lisbon — without even seeing the property....
...Canadian mortgage billionaire Stephen Smith has hired Jonathan Broer, a former investment banker from Toronto-Dominion Bank, to run his family office as he looks to buy more North American financial services...
...“We have two choices: resolution [winding down the bank] or you have to step in to do a deal. We trust UBS will do the right thing.”...
...Twenty years ago, a lot of British unit trusts were sold with a 1.5 per cent management fee....
...Breit, a private trust, slammed down its gates in early December after a surge of withdrawal requests....
...But he nonetheless compared recent events to the 1980s savings and loan crisis, when more than 1,000 lenders collapsed....
...And you wonder how that tallies with the idea of “saving the west”....
...But they aren’t a piggy banks to be raided for whatever happens to be the political priority of the day....
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