Hints and tips:
...(Billy Nauman) Citi launches silo-busting ESG unit Citi has established a new internal group that will lead its sustainability efforts across its global banking, capital markets and advisory divisions....
...Just 30% expect a V shaped recovery in the stock market....
...As well as selling the third-party rights to New Residential, Citi is also planning to outsource the servicing of mortgages provided for its own customers to Cenlar FSB....
...Michael Saunders, economist at Citi, said that the data fitted with other signs that “the combination of cheap money and strong growth in aggregate real wage income was boosting the housing market”....
...Some of that was metal Mercuria had sold to Citi. Since they could no longer get access to the metal, could they buy it back from Citi? Why does it matter?...
...Citi said that given the length of his tenure, his departure was “well anticipated and part of the natural cycle of the business”....
...(Bloomberg) GM “must turn over documents related to its subprime auto-lending under a subpoena issued by the U.S....
...A raft of European and US banks, including Citi – which was last week widely reported as having agreed the deal with Heron International – offered to provide the loan....
...Deposits at Wells rose 13 per cent during the period, while residential mortgage lending increased more than a third to to $120bn....
...Citi, for instance, has blown itself up three times in the past 30 years: in 1982, from bad loans to emerging markets; in the late ’80s, from US commercial real estate; and in 2008-09, from US residential...
...He also reaffirmed plans for a $26bn residential and commercial project in Jeddah, which will include a more than 1000m tall tower, taller than Dubai’s 828-m Burj Khalifa....
...Aside from Citi, Kingdom owns some serious assets – stakes in companies like Apple, Pepsico, Proctor & Gamble, News Corporation – as well as genuine trophy assets like the Hotel George V in Paris....
...Among the mid-caps, the mortgage lender Paragon jumped 9.1 per cent to 153p following a post-results roadshow and on hopes that it will reopen its lending book this year....
...GMAC has had some success raising deposits through its banking subsidiary, Ally Bank, and could also spin off its mortgage lending arm, Residential Capital....
...Michael Saunders, an economist at Citi, points out that the Nationwide figures show prices higher than three months ago for the first time since late 2007 and this comes when “pretty well all housing guides...
...Mike Saunders, economist at Citi, said the nation’s housing market still faced considerable headwinds, not least of which was surging unemployment....
...But it made $1.7 billion in net income on its commercial paper-related lending. Altogether, the special lending programs cost the Fed $1.7 billion in net income....
...“We basically view residential mortgage as an extension of our consumer business” of deposit-taking....
...Well, by Whitney’s reckoning (and others), Merrill and Citi have the biggest exposure to residential mortgages, at $44.6bn and $26.7bn respectively....
...Fiscal tightening should start, we expect households to save more and we don’t think lending growth will be strong enough to support a strong recovery....
...flavour” so it could be applied to other lending institutions....
...With US recession biting, unemployment climbing and property markets moribund, JPMorgan’s vast portfolio of credit cards, residential and commercial mortgages could be hit by a soar in defaults this year...
...Michael Saunders, economist at Citi, said that the drop in mortgage lending had come amid a wider shake-out in the sector’s lending capacity....
...Amit Kara, UBS 1) Minority government and market fear – a hung parliament will almost certainly lift the risk premia of UK inc....
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