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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....
...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...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.”...
...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...
...deposit insurance fund had to cover, from the bank failures last year....
...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....
...Lloyd’s insurers Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among those that have pledged to hold the risk for a total of £500mn of insurance coverage written in partnership with these...
...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....
...Gains for companies such as insurance group Skyward Specialty and biotech company Rayzebio more than offset losses for high profile tech flops like Instacart....
...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....
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