Hints and tips:
Related Special Reports
...Northern Rock was one of a wave of building societies that demutualised in the 1990s as a result of legislative change and pressure from some members and dealmakers seeking a windfall....
...’ closed mortgage books, with a balance sheet of almost £116bn....
...Mortgage pricing is based on the cost of “swaps”, derivative contracts that banks use to manage their interest rate risk....
...“It’s kind of amazing how little they have to do to get people to send them their money,” he added....
...UK mortgage approvals in January rose much more than expected, reaching their highest level since October 2022 as borrowing costs fell, according to data by the Bank of England that points to a recovery...
...This is what happened when the FDIC auctioned off First Republic last year, little more than a month after the collapse of Silicon Valley Bank....
...In January 2008 the market capitalisation of JPMorgan made up less than 18 per cent of that of the top 10 European banks together....
...The Bank of England began incrementally raising its base interest rate at the end of 2021 from 0.1 per cent. It has since climbed to 5.25 per cent....
...This is an audio transcript of the FT News Briefing podcast episode: ‘Big tech continues to rock’ Marc FilippinoGood morning from the Financial Times....
...Around a third of this debt pile was originated when rates were rock-bottom in the pandemic, it adds....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...It is a contrast to the 1990s, when legislative changes and some agitation by members, saw a wave of mutuals, including Northern Rock and Halifax, swallowed up by shareholder-owned banks....
...Now, the fixed rates aren’t necessarily directly impacted by the Bank of England base rate....
...“With the inflation backdrop turning a little less difficult of late, this has led to expectations that the Bank of England will be able to start lowering interest rates later in the year....
...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....
...Subsidised mortgages accounted for more than half of the new home loans....
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...Mortgage approvals to homebuyers hit a six-month high in December, according to Bank of England figures, reaching 50,459....
...Mortgage rates have declined from their peak this summer as the Bank of England signalled it had reached the end of a blistering series of interest rate increases....
...The Delaware court this year invalidated such a practice at the investment bank Moelis & Co, which had given its founder veto power over nearly all of the standard work conducted by a board of directors....
...Older homeowners may also remember the November 2015 sale of more than £13bn of former Northern Rock mortgages to private equity firm Cerberus....
...The bank uses More Telecom services rather like a loyalty programme for its millions of customers, offering discounts on broadband to people taking out a mortgage....
...The writer is a former chair of the US Federal Deposit Insurance Corporation and author of the ‘Money Tales’ books I am a former financial regulator. I also write children’s books....
...Fannie, and its sister mortgage agency, Freddie Mac, had issued CLN-type bonds on about $1.7tn of mortgages....
...Over time, a higher rates plateau will make banks more profitable. It’s just that the timing of profits is a little tricky in the transition....
International Edition