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...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...Citi, JPMorgan and Bank of America have all gotten in....
...The Granolas’ share of the Stoxx Europe 600 index has climbed to 25 per cent, approaching the Magnificent Seven’s 28 per cent weighting in the S&P 500....
...As Bolgona puts it: From a high level, relative to electing to account for loans at amortised cost, electing the fair value option provides a P&L tailwind during periods of loan growth due to recognising...
...Some farmers have found it tricky to secure bank loans against their slowly growing solar-grazing businesses, preventing the wider industry from growing even faster than it already is....
...The KBW Nasdaq Fintech index is up 31 per cent over the past year, compared with a return of 25 per cent for the broader S&P 500....
...A servicing company placed the loan on watch for possible default — although the Trumps have remained current on their payments....
...For the European Central Bank and the Bank of England, which recently signalled that they could cut policy rates before the Fed, the relative decline in the euro and pound — which adds to inflationary pressures...
...However, Bank of America strategists said any upturn in the bank index’s relative performance could signal a broader shift in investor thinking....
...But, as Ebrahim Poonawala of Bank of America pointed out to me, the cause of the first problem, very fast growth, was acquisitions explicitly designed to solve the second problem, the concentration in regulated...
...Households and small businesses would have the option to repurchase impaired loans made between 2015 and 2021 that were sold by banks to third parties by the end of 2022, according to S&P Global....
...It had €691mn of non-performing US loans on its books as of November, up 129 per cent from the end of 2022. Its credit rating was downgraded by S&P Global last week....
...The burden is increased by the slowdown in the commercial loan market — the bread and butter of regional banks....
...JPMorgan Chase and Bank of America were at 2.1 per cent and 2.3 per cent. At Capital One and Discover this was nearly 4 per cent. Cutting late fees also won’t affect companies equally....
...However, in order to size the potential maximum impact to banks’ P&L, a scenario we think would be unlikely but possible, for example in times of financial distress, we have assumed that everyone older than...
...Riskier car loans made during the height of the pandemic have more repayment problems than in previous years, according to data from S&P’s Global Ratings....
...Job moves Bank of America has hired Olof Engelbrekts as head of investment banking in Switzerland. He previously worked for UBS....
...Chairman redux As anti-DEI sentiment sweeps corporate America, thousands of filings reveal that S&P 500 companies are changing to gender-neutral language at a slowing rate, Bloomberg reveals....
...Analysts at Bank of America say that could be true, at least for the short term. Peaking interest rates could be a “clearing event” for the financial sector, they write in a note this week....
...Since the global financial crisis, the size of the market for CLOs has grown almost fourfold: to nearly $1tn, according to Bank of America....
...around 3.8% of the total value of all S&P 500 shares traded (or the equivalent of just over 100,000 E-mini S&P 500 futures — as an old futures and options trader, these numbers made me gulp!)....
...The US, which has the highest central bank rate in the G7 and a low revenue base compared with its higher-tax peers, is on course for a dramatic surge in debt servicing costs....
...Earnings at Bank of America are forecast to be flat. Both the KBW Regional Banking index and the broader KBW Bank index remain down more than 22 per cent for the year to date....
...Numbers news The Bank of England’s Bank Underground blog has a nerdy statistical piece that explores a wage growth measure that is reweighted to better match inflation....
...“It’s clearly not a silver bullet,” said Frederic de Mariz, head of ESG at UBS in Latin America....
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