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...Commercial property values have been hit by rising interest rates and fears about the health of the office market....
...NatWest also said that Robert Begbie — a 40-year veteran of the bank who is both the interim head of its commercial arm and of NatWest Markets — has been approved by regulators as the permanent chief of...
...Then there is the commercial real estate dilemma. Most banks want to reduce their exposure to this $5.8tn market. A record amount of loans are maturing and need refinancing this year and next....
...Some €40bn of European commercial real estate debt is expected to mature this year, according to CBRE....
...European commercial real estate deal making fell to a 13-year low at the start of 2024, as fading hopes of imminent interest rate cuts prolonged the slump in property markets....
...From a report the investment bank sent out yesterday, with Alphaville’s emphasis below: — The wide adoption of hybrid work caused a structural decline in office demand....
...This is an audio transcript of the Unhedged podcast episode: ‘Will commercial real estate hurt regional banks?’...
...Some of that has reverted but perhaps not all of it,” he said....
...Bank of America’s chief executive Brian Moynihan said in December that the bank had identified just $5bn in commercial property debt tied to buildings in sectors of the property market in which prices had...
...Banks will have to cut their exposure to commercial real estate because of a $2tn “wall” of property debt coming due in the next three years, according to a leading US brokerage....
...Signs of stress in the commercial real estate sector are now coming thick and fast....
...Bank of China, the most internationally exposed bank among its peers, now operates a sprawling network of 534 branches, covering a third of countries globally, according to its latest annual report....
...Ilmārs Rimšēvičs, head of the Latvian central bank from 2001 until 2019, was found guilty by the Riga district court of accepting bribes and a fishing trip to Russia from shareholders of a now defunct bank...
...via commercial paper and bonds....
...Defenders of the multilateral development banks will respond that the World Bank and other MDBs — unlike commercial lenders — are not return maximisers....
...Bank of America analysts wrote in a note that higher losses tied to commercial real estate office exposure “are a reminder of ongoing credit normalisation that we are likely to witness across the industry...
...However banks are displaying forbearance too: Goldman Sachs estimates that $270bn of commercial mortgages which were supposed to mature in 2023 have been extended into 2024....
...New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate....
...The Paris-based lender reported net profits of €3.1bn for the quarter, down 30 per cent from a year earlier, when it booked a €3bn capital gain on its sale of California-based Bank of the West....
...Major global financial institutions, including commercial banks, central banks and financial market infrastructures, are already tokenising assets....
...It’s been clear for nearly a year that regional banks’ fates could turn on their exposure to commercial real estate markets, and New York Community Bancorp just gave investors a very jarring reminder....
...The group set aside £49mn to account for future losses in its commercial banking portfolio after non-performing commercial loans rose to 2.5 per cent of the total as of the end of the quarter, up from 2.3...
...By the end of March, the bank had fixed all of the Postbank issues that were directly affecting customers....
...assets that commercial banks need to have....
...The US commercial property market, the largest in the world, has been sliding....
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