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...Capital One filed an application to complete the transaction to the Federal Reserve and the Office of the Comptroller of the Currency. The Fed sent back a list of questions last week....
...out when Credit Suisse collapsed last year....
...But Andrews sees in it too a story for our times....
...Put another way, banks have been able to claw back just over half of the $20bn that shifted in favour of private credit firms in 2023. So, have we reached peak private credit?...
...CREDIT: UAW Read a transcript of this episode on FT.com...
...the chair of the Federal Deposit Insurance Corporation has warned....
...The US Federal Trade Commission has voted to ban non-compete agreements, taking aim at contracts that limit employees’ freedom to quit for a new job at a different employer....
...The crowded corporate credit trade, part 2 Last week I looked at the boom in corporate credit and the accompanying tight credit spreads in high-yield and investment-grade bonds....
...The move came after the US Federal Reserve cut borrowing costs to near-zero during the early stages of the coronavirus pandemic, which Samorajski said made it difficult for the scheme to hit its 7 per cent...
...UAW’s landslide victory in Chattanooga raises its hopes that it can repeat its success at Mercedes-Benz in Alabama, where federal labour officials have scheduled a union election next month....
...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...Even still, the appeal of fishing for good credits is clear. Here’s Walsh: The primary factor supporting the credit opportunity narrative is the current allure of all-in credit yields....
...“It’s every single federal agency that uses administrative law judges.”...
...In 2016 it invested in credit investment firm Owl Rock Capital. Now known as Blue Owl Capital, it is among the most prominent lenders in credit markets....
...In his first interview as CEO of the $1.6tn Atlanta-based asset manager, Andrew Schlossberg said Invesco would also consider deals to boost its private credit offerings....
...The market reaction came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...Private credit’s “golden age” might’ve not lasted very long*....
...“This will be in the bank’s terms and conditions, but people just aren’t as used to rate rises we’ve seen over the past 18 months,” said Andrew Hagger, a personal finance expert at MoneyComms....
...Private credit alpha Unhedged went through a period last summer during which we obsessed over what expected returns for private credit might be, and where those returns come from....
...JPMorgan’s emphasis below: How big really is the private credit asset class? Naturally the answer to this question depends upon your definition of what constitutes ‘private credit’....
...More and more market participants and pundits are betting that stalling disinflation might stop the Federal Reserve from cutting rates at all in 2024....
...The FT notes all of the slow-burning lawsuits related to Credit Suisse (“Finma seeks to prevent release of Credit Suisse AT1 debt files”, Report, April 5)....
...Private credit did not. And, you know, public credit markets just totally froze up....
...The DoJ also advises federal banking agencies on what impact deals will have on competition....
...The federal government would “pay for the entire cost” of reconstructing the bridge, the president said in a news conference on Tuesday, and was preparing to send the state of Maryland “all the federal resources...
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