Hints and tips:
Related Special Reports
...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Switzerland’s financial regulator has attempted to block the release of key documents to investors who are suing it after $17bn of bonds were wiped out in the rescue of Credit Suisse....
...IG Group said it is aware of a technical issue with the settlement of a number of share trades that resulted in duplicate credit and debit of funds....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...But regulators are studying the liquidity risks being stored up in these strategies, and the potential spillover effects for the wider financial sector....
...Third, financial product innovation is a vital enabler....
...Much debated at the Financial Times’ New York office yesterday: was the eclipse an economic boost or a drag?...
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...Private credit is now so big that the IMF dedicated an entire chapter in its latest Global Financial Stability Report to its “rise and risks”....
...When traditional financial institutions seized up amid monetary tightening and Silicon Valley Bank’s implosion in 2023, private credit funds were the only game in town to fund most deals....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...Swiss banking rules have come into sharp focus since the collapse of Credit Suisse last March and its rescue by UBS....
...At the same time, an explosion in private credit has forced banks to invest in and compete with funds in the sector....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...card, internet and mobile banking services....
...financial crisis....
...Data published by the Financial Ombudsman Service, an independent public body, on Friday showed that 5,660 complaints about credit cards were lodged from October to December last year, a 76 per cent increase...
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...Swiss financial news outlet Tippinpoint was first to report his departure....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...Negotiations between highly indebted IT services company Atos and its lenders are hanging in the balance after one of its biggest creditors, Crédit Agricole, signalled it wanted to walk away....
...The bank is specifically focusing on private credit as one of its major engines of growth....
International Edition