Hints and tips:
...Similarly, bankers at UBS, Citi and Merrill Lynch told me in 2008 that one reason why the dangers around repackaged subprime mortgage loans were ignored was that these instruments had supposedly safe triple-A...
...Richard Watts and Nick Williamson, the managers of the Chrysalis investment trust, are leaving asset management group Jupiter....
...Goldman Sachs estimates that between 2018 and 2022, multi-manager assets increased by 150 per cent while the rest of the hedge fund industry grew by just 13 per cent....
...Most recently it agreed to pay $3.7bn to settle allegations that it mismanaged customer mortgages, car loans and bank accounts....
...“I’m waiting for markets to tank, and will then buy blue-chips and sensible investment trusts,” said one....
...The People’s Bank of China today cut the one-year loan prime rate, a reference for bank lending, by less than expected, while leaving the equivalent five-year rate, significant for mortgage lending, unchanged...
...More broadly, SVB’s collapse has highlighted the key ingredient to a stable banking sector: trust. “Banking is in part a trust game,” said Judge....
...Nearly $100bn of its $166bn in loans were single-family mortgages with at least 15 years to run, most of which were written during the period of ultra-low rates....
...When it came to the brewing US subprime mortgage crisis, Crastes thought doomsayers were getting ahead of themselves....
...It depends for its survival on trust outweighing fear in the minds of depositors. They can pull their funds at will. The bank cannot realise its loans quickly....
...Among them were chief executive Parag Agrawal, chief financial officer Ned Segal and Vijaya Gadde, head of legal, policy and trust....
...Citigroup has named Sirisha Kadamalakalva as global head of artificial intelligence investment banking, based in San Francisco. She joins from AI group DataRobot....
...Laurence Fink, a talented First Boston mortgage bond trader, would also leave to start a little money manager called BlackRock....
...We take this very seriously and rightly expect landlords at Peabody Trust to take action to make their homes safe and decent.”...
...Non-bank mortgage specialists, however, will groan. The US Federal Reserve this week raised interest rates for the first time since 2018....
...They also charge a platform fee to employers, such as NHS Trusts and retailers. “We see more and more employers paying....
...A major markdown, from $2.2bn to $1.5bn, would risk putting the fund in breach of the terms of its loans from JPMorgan and forcing it to repay some debt....
...Another deal from Citigroup, issued in 2015 with high exposure to retail properties, has also hit trouble....
...The property has been occupied since it was purchased in 2018 and has generated £20,000 in cash, which I planned to use to repay part of the capital loan....
...In these results, borrowing on cards and short-term loans rose by 7 per to £5.8bn, while business lending declined, and mortgage lending was essentially flat at £57.8bn....
...The bank rate currently influences but does not determine the rates banks charge on loans or pays on deposits....
...While at Citigroup and then Trust Company of the West in the 70s and 80s, he was an early buyer of the high-risk “junk bonds” being sold by Michael Milken....
...Chinese banks began issuing mortgage loans and also development loans to property companies. Every single person that moves from the countryside in China to a city needs to live in an apartment....
...The share surge has also created an unlikely winner in the Scottish Mortgage Investment Trust, the UK’s largest investment trust....
...A fraudulent sales scandal toppled two chiefs at Wells Fargo, while Citigroup’s Michael Corbat retired early after the bank botched a Revlon loan payment, resulting in millions of dollars in regulatory fines...
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