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...New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate....
...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...
...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....
...commercial, corporate and investment banking businesses....
...BofA chief financial officer Alastair Borthwick said the finances of the bank’s customers remained in good shape, even if most consumers’ accounts were not quite as full as they were in the middle of the...
...For Citi, part of the appeal of the new licence is that it would enable it to pitch its services as an onshore underwriter and a full-service bank to clients of its corporate and commercial bank on the mainland...
...However, the growth of private credit is in large part supposed to be driven by the retreat of banks from commercial lending — “debanking”, as Rowan calls the trend....
...The International Finance Corporation, the private sector-focused arm of the World Bank Group, and US-based asset manager T Rowe Price are collaborating on a new fund to invest in blue bonds issued by companies...
...Private credit and leveraged lending markets remain vulnerable to “sharp revaluations”, the Bank of England has warned, in its latest attempt to sound alarm bells about risks building up in non-bank finance...
...Its finances have deteriorated sharply in the face of falling commercial real estate values and rising interest rates....
...StanChart said in August it had agreed to sell its aviation finance leasing business for $700mn to Saudi Arabia’s Public Investment Fund....
...In Unhedged’s continuing coverage of when-will-the-next-shoe-in-commercial-real-estate-drop, this is an angle we hadn’t covered: the possibility that non-bank CRE lenders would exit the market....
...We should not exaggerate the challenge private credit poses to banks in the core activity of commercial loans, worth some €20tn in the EU alone. Private credit remains linked to buyouts....
...Thus, while banks face liquidity pressure in a variety of asset-based finance areas backed by both consumer and non-consumer collateral, the fundamentals of the assets themselves are actually quite solid...
...Let’s say, which I think is right, that the Fed and the ECB and the Bank of England are motivated to start cutting rates....
...piece of legislation, had been in place since the 1930s, basically to try to de-risk US banks, to separate commercial banking activities from riskier investment banking activities....
...commercial officer at XBTO, a digital assets platform....
...They include Cong Lin, who previously led the leasing department at Industrial and Commercial Bank of China, the world’s biggest bank....
...“Electrification will actually be acting as an accelerator of the [leasing] trend,” says Annie Pin, chief commercial officer of leasing company ALD....
...There’s also the question of whether it’s worth extending credit given the possibility of fan protests when the bank cracks down on a club that falls behind on payments....
...A version of this article was first published by Nikkei Asia on August 21. ©2023 Nikkei Inc. All rights reserved....
...Senior figures in the leasing market say several banks have started charging more for electric vehicles out of concern — making falling residual values across the sector a self-fulfilling prophecy....
...That compares with the ¥33bn pulled in by its retail and commercial banking business in Japan, which had a return on equity of 1.7 per cent....
...The jump in rental fees is another consequence of global central banks’ push to raise interest rates as surging inflation ends an era of cheap finance....
...A version of this article was first published by Nikkei Asia on June 13, 2023. ©2023 Nikkei Inc. All rights reserved....
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