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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...Ermotti said the only reason UBS was allowed to take over its rival was because Credit Suisse was failing after years of loss making....
...Janardana welcomed the discussion about policies to make London more attractive by tapping into pension funds’ greater liquidity....
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...While new Fed proposals to increase bank capital (dubbed the “Basel endgame”) are being recalibrated, further adjustments to liquidity, capital rules and risk management practices are nonetheless likely....
...Although currently low, liquidity risks could rise with the growth of retail funds....
...A boom in private-credit CLOs, for one, would create demand for more frequent liquidity than what’s available from most funds today....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...During the period Scope Group entities provided other advisory services to Greensill as well as credit ratings, such as “industry risk reports” Esma said, and it failed to flag these services when rating...
...How far should regulators go in dictating the basic designs of some of the most widely used tech products and services?...
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...Still, buyers’ remorse often sets in when the credit card bill arrives....
...“Nasdaq is committed to the principles of liquidity, transparency and integrity in all our markets,” the exchange said....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...obliviousness offered by private BDCs and other nontraded private credit vehicles....
...Ant’s bid for Credit Suisse Securities (China) Ltd, which includes investment banking and brokerage services in mainland China, could complicate UBS’s plans to dispose of its stake in the unit....
...Princeton’s chief investment officer Andrew Golden said the endowment was facing the “worst-ever environment” for liquidity in the asset class....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...In addition, reforms have introduced new friction, Balkanising service delivery in ways that does no one any favours....
...At some point, this risks leaving lenders without sufficient reserves and could cause unwanted volatility in short-term borrowing costs and even a credit crunch....
...“Everyone is losing sight of the fact that this market is too big for just private credit or banks.” Additional reporting by Sun Yu...
...“The funds we focus on now [for investors] have quarterly liquidity.”...
...Liquidity is like water, it finds its level. People want market-based solutions. They don’t want to be told where to trade....
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