Hints and tips:
...Bank of America’s chief executive Brian Moynihan said in December that the bank had identified just $5bn in commercial property debt tied to buildings in sectors of the property market in which prices had...
...America’s CRE hangover: Some players are finally getting more honest about America’s commercial real estate pain, writes Gillian Tett. Social price: Do you dislike being hounded online to buy stuff?...
...CRE is defined differently by different banks and we have used for the most part the figures presented by the banks in their most recent earnings reports....
...“Small banks’ absolute dollar exposure to CRE lending has grown at an accelerating rate over the past ten years,” notes Morgan Stanley; Even before the interest rate cycle turned, CRE values were starting...
...We expect banks to generate higher loss rates on CRE and other corporates than banks would incur on their mortgage books....
...The Office of the Comptroller of the Currency says the loan books of smaller banks are especially concentrated in CRE....
...It comprises Flushing Financial, Guaranty Bancorp, Independent Bank, MutualFirst Financial, Seacoast Banking Corporation of Florida, State Bank Financial, and United Financial....
...Banks’ share of CRE originations has risen from just over a third in 2014 to more than half in the first quarter of 2016 — a record....
...We’ve seen the Bank of Japan join Sweden, Denmark, Switzerland and the European Central Bank with unprecedented negative interest rates....
...With my HF for Harlow sitting right behind me, I wouldn’t dare do anything else....
...For I am today cutting the main corporation tax rate again by a further 1%. In America, the rate is 40%; in France it is 33%; in Germany it is 29%....
...I am also increasing the rate of the bank levy to 0.105 per cent from next January, so that the additional corporation tax cuts do not benefit the banks; and so our levy will raise the £2.5 billion a year...
...Small regional banks have a disproportionate exposure to CRE . . ....
...The Federal Deposit Insurance Corporation has accumulated some $36bn worth of assets from the plethora of failed US banks....
...To wit, here’s a bit from the Wednesday Congressional testimony of Sheila Bair, chairwoman of the Federal Deposit Insurance Corporation, which is charged with insuring US bank deposits and guaranteeing the...
...The Federal Deposit Insurance Corporation on Friday seized Corus Bank, based in Chicago, which was failing under pressure from bad loans on commercial real estate and condominiums....
...led to the decision by Ken Lewis to walk away from Bank of America.”...
...believe led to the decision by Ken Lewis to walk away from Bank of America.”...
...HF Financial Corp handed over $650,000. So far, about 10 other banks have repurchased similar warrants, handed over to the Treasury in exchange for billions of dollars of bail-out funds....
...From the US Treasury: 10/28/2008 Bank of America Corporation $15,000,000,000 Bank of New York Mellon Corporation $3,000,000,000 Citigroup Inc. New York $25,000,000,000 The Goldman Sachs Group, Inc....
...In the broader market, leading shares closed lower as fears of more asset writedowns in the banking sector offset news of a rate cut from the Bank of England....
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