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...New York Community Bancorp and its chief risk officer parted ways shortly before the regional US lender reported larger than expected losses from real estate lending that hammered the bank’s stock....
...Those firms have attracted funds as more stringent regulation following the financial crisis meant banks pulled back from lending to small and medium-sized businesses in the US and Europe....
...The central bank’s “pledged supplementary lending” programme, a quasi-fiscal facility for cut-price loans used in past stimulus pushes, increased the pace of lending 12 per cent in December....
...Biz2Credit has struck a deal to feed Magnati’s real-time payments data into artificial intelligence models on its lending platform....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
...Chang’s and business technology provider Computer Services Inc....
...Investors pulled record sums from corporate bond exchange traded funds and pumped money into lower-risk government equivalents last month as benchmark lending rates soared to 16-year highs....
...And if Micro Connect’s financing were to be reclassified as lending, he would face caps on how much money stores could repay. Sceptics have compared his model to outlawed peer-to-peer lending....
...Consensus forecast expects Rocket to swing back to a net income of $613mn this year and $1.2bn in 2025....
...Slowing growth in lending risks curbing a key driver of profits for the big US banks when they begin reporting third-quarter earnings this week....
...What we’ve seen so far and what the press is focused on is levered lending, which, as I said, is a fraction of a fraction. I think we’re going to be talking about this for the next 10 years.”...
...Lending, one area keeping rainmakers in place, has fallen off in demand as higher interest rates makes leveraging assets less attractive....
...Revenues from corporate lending dropped 26 per cent, however, as higher interest rates dented demand for borrowing. A drop in market volatility at the end of the year also hurt the bank’s traders....
...The business would expand Citi’s business in China, which already includes corporate lending and other banking services....
...The loss followed an ill-fated foray by Julius Baer into private lending, a business that chair Romeo Lacher said had grown much quicker than its risk systems could cope with....
...The yield on the 10-year note fell to 3.82 per cent, its lowest level in a month, as traders fretted about how possible constraints on lending may affect US growth....
...The niche jargon actually describes lending that is not controlled by banks. Instead, investors are marshalled by alternative asset managers such as Apollo, Blackstone and Brookfield....
...Citi is a lesser player in small business lending compared with rivals such as JPMorgan Chase and Wells Fargo....
...That appetite is beginning to return as banks look to bolster relatively modest advisory and lending revenues, and as they grow more confident that companies and private equity groups will be able to weather...
...High inflation, tighter lending conditions and fears the US economy could slip into a recession have prompted many Americans to hold back on big-ticket items this year....
...The executives were speaking after their banks reported fourth-quarter earnings that showed that their lending businesses had benefited significantly from higher interest rates....
...A version of this article was first published on November 1 by Nikkei Asia. ©2023 Nikkei Inc....
...All five of Citi’s core businesses — corporate lending; credit cards and US consumer banking; transaction services; buying and selling stocks and bonds; and private banking — posted rising sales....
...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...
...And by traditional lending-company metrics, the financial structures of both companies are indeed quite conservative, and are not under stress in any obvious way....
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