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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...Indeed, UniCredit will probably buy back and consolidate its insurance businesses, at present held within joint ventures with insurance companies....
...into bank parent companies....
...Regional banks are essential for a competitive banking system, particularly for mid-sized business clients....
...“The insurance industry has a problem in that region for the foreseeable future.”...
...deposit insurance fund had to cover, from the bank failures last year....
...Results at BofA, like its large competitors, were also dragged down by costs tied to last year’s regional banking crisis after the Federal Deposit Insurance Corp imposed another round of fees on the nation...
...The UKIB was set up in 2021 to invest private sector finance into projects that help meet the government’s net zero climate targets, as well as tackling regional inequality....
...Also in the group is Manuel Sánchez Rodriguez, a former top executive at Spanish bank BBVA and a board member, since 2018, of the US government-backed mortgage insurance company Fannie Mae....
...Profits were dragged down by one-off charges linked to last year’s regional banking crisis....
...Federal Deposit Insurance Corp chair Martin Gruenberg has warned that the sharp rise in this “hot money” presents liquidity risks....
...Next, the shadow banking system — an assortment of financial institutions ranging from hedge funds to insurance companies — still lacks the liquidity to weather price adjustments, according to the FSB....
...US plans for shutting down a global bank call for removing top management, wiping out the shareholders and imposing losses on creditors of its holding company....
...Since the collapse of several large US regional lenders last March, Blackstone has been buying assets from banks and managing them on behalf of its credit and insurance clients....
...As Sonali Basak pointed out on Bloomberg last week, if the assets are held within insurance-company subsidiaries, insurance regulators will have visibility, and there will be some required disclosures....
...Nearly half came from its Athene insurance unit....
...The latest fall in NYCB’s stock was not echoed in the wider regional banking sector. The KBW Regional Bank index, which includes NYCB, closed down just 0.4 per cent on Wednesday....
...Twelve months after the failure of Silicon Valley Bank shook the regional banking sector, NYCB’s recent struggles have underscored the continuing fragility at some US lenders....
...“For example, we regularly met with regional health insurance company AOK.”...
...But this company has a strong foundation, strong liquidity and a strong deposit base, which gives me confidence for our path forward,” DiNello told analysts....
...Stocks of other smaller banks also fell, with the KBW Regional Bank index declining by 6 per cent....
...Nearly a year after Silicon Valley Bank collapsed, it is tempting to dismiss the US regional banking crisis as a very loud tempest in a relatively small teapot....
...It is still basically a regional bank, albeit a big one....
...The investment managers that form the layer in between get their capital from insurance companies, sovereign wealth funds, pension funds and so forth....
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