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...The Federal Deposit Insurance Corporation is auctioning the loan book and other parts of the California lender after a bank run led to its collapse this month....
...To really bring the issue home, the NY Federal Reserve put out a blog at the end of March on the implications for the United States of a hypothetical China property hard landing....
...Long-term mortgages: Rising mortgage rates have been a big contributor to the UK’s cost of living crisis. Can long-term mortgages, a norm in the US, help solve the country’s housing crunch?...
...Unlike US home loans, commercial mortgages are almost entirely interest- only....
...The FHLBs mentioned are the Federal Home Loan Banks, basically US government-sponsored co-operatives of mortgage lenders that use their implicit state backstop to get cheap funding and extend the benefits...
...Banks say the changes to RWA calculations will lead to significant hikes in capital requirements for mortgages, corporate loans and loans to other financial institutions....
...Into the FHLBiverse The regional Federal Home Loan Banks are part of the Federal Home Loan Bank system — an ür-government sponsored enterprise, predating better-known cousins like Fannie Mae and Freddie...
...But loan volumes dropped to $11.4bn last year as the Federal Reserve aggressively lifted rates to fight inflation, damping demand from would-be homebuyers and owners seeking to refinance....
...Uninsurable properties could spill over into other areas, warned the Bank for International Settlements in a November paper, by making mortgages harder to secure and increasing banks’ credit risks if homes...
...All of which suggests the Federal Reserve will need to continue backstopping the Treasury market and the banking system....
...Professional investors will look at everything and weigh credit versus government bonds and agency mortgages versus high yield and emerging markets....
...Corporation tax is a tax on investment not on shareholders, corporation tax revenue should be reduced to zero....
...But some striking new research highlights two further issues that have hitherto been largely ignored: the role of government agencies such as the Federal Home Loan Bank system and the role of collateral...
...This makes sense in theory, but the shortage of skilled US workers and capacity is a clear concern for allies, which brings home the point that a viable commercial shipping industry and national security...
...And notably, the cost of a 30-year mortgage is about to top 8 per cent, making already expensive home purchases even less affordable....
...This seems to be true for both consumers and corporations....
...To help make such loans more affordable, I have today decided to increase the repayment period for new loans from 12 months to 24 months....
...Gallup estimates that lost productivity owing to low employee engagement could account for $8.8tn globally, or 9.9 per cent of global gross domestic product....
...She said she has applied for a federal loan forgiveness programme for public servants, but has yet to be approved....
...And central banks remain in tightening mode — the ECB is widely expected to follow the US Federal Reserve’s lead and raise rates by a quarter point today, as is the Bank of England next week....
...at home and abroad....
...What is worrisome is the Federal Reserve’s loan officer’s survey for C&I (the blue line). Almost half of banks say they are tightening standards, and none say they are loosening them....
...On the liability side, it assumes $92.5bn in deposits, $28bn in expensive Federal Home Loan Bank debt, $50bn in five-year fixed rate Federal Deposit Insurance Corporation funding, and $2bn of bits and bobs...
...The end of a pandemic-era moratorium on student loan repayments is also likely to dampen consumption and savings....
...The premium that investors are willing to pay to own the equity of US corporations (and of international corporations listed on US exchanges) have only grown in recent years: Correspondingly, over the past...
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