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...“Every week for the last 18 months, bankers and consultants have been saying credit, credit, credit.” But Sinding is clear what he wants....
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...Seychelles has no legislative or regulatory framework for virtual assets and virtual-asset service providers, meaning it fails to comply with the Financial Action Task Force’s anti-money-laundering code....
...Private credit is now so big that the IMF dedicated an entire chapter in its latest Global Financial Stability Report to its “rise and risks”....
...Much debated at the Financial Times’ New York office yesterday: was the eclipse an economic boost or a drag?...
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...When traditional financial institutions seized up amid monetary tightening and Silicon Valley Bank’s implosion in 2023, private credit funds were the only game in town to fund most deals....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...An investigation by the FT found that the Austrian bank had posted 2,400 job advertisements in Russia since December, with some 1,500 for sales management and customer service roles....
...financial crisis....
...Data published by the Financial Ombudsman Service, an independent public body, on Friday showed that 5,660 complaints about credit cards were lodged from October to December last year, a 76 per cent increase...
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...Swiss financial news outlet Tippinpoint was first to report his departure....
...“Once companies, especially financial services companies, get to the $50bn market cap, their stock performance suffers,” Nuttall said. “Investor returns become more anaemic. Their growth slows.”...
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...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....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...Negotiations between highly indebted IT services company Atos and its lenders are hanging in the balance after one of its biggest creditors, Crédit Agricole, signalled it wanted to walk away....
...Ermotti’s award comes as the bank’s bonus pool shrank 14 per cent compared with the combined pool at UBS and Credit Suisse in 2022....
...The bank is specifically focusing on private credit as one of its major engines of growth....
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