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...Switzerland’s financial regulator has attempted to block the release of key documents to investors who are suing it after $17bn of bonds were wiped out in the rescue of Credit Suisse....
...The deal under discussion would see Brookfield invest more than $1.5bn to buy a majority interest in Castlelake and make a large investment in its funds, three people briefed on the matter told the Financial...
...They can also charge different prices to consumers based on which credit card they use. Credit card holders accustomed to fancy perks are in for a rude awakening....
...More and more market participants and pundits are betting that stalling disinflation might stop the Federal Reserve from cutting rates at all in 2024....
...the chair of the Federal Deposit Insurance Corporation has warned....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...Financial conditions have eased spectacularly....
...Total household debt in the US climbed to another record high at the end of 2023, according to the Federal Reserve’s New York branch, with the continued rise in consumers struggling to pay down credit card...
...And in recent years, the securitisation market has become a welcoming home to deals backed by everything from music rights to software companies’ private credit loans....
...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....
...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....
...The private credit sector stepped in to the gap left by banks after post-financial crisis regulations forced them to scale back lending to small businesses....
...I am reading in the FT that Martin Gruenberg, chair of the US financial regulator, the Federal Deposit Insurance Corporation, has criticised the rescue of Credit Suisse (“Credit Suisse rescue deal was unhelpful...
...Mark Mason, chief financial officer, told reporters that 7,000 employees had been given notice that their jobs had been eliminated since the reorganisation began, 2,000 more than the bank had previously...
...Chang’s and business technology provider Computer Services Inc....
...Credit card balances are at a record high Voters are stressed about credit card debt: 28 per cent cited it as one of their biggest sources of financial stress in a poll for the Financial Times and Michigan...
...The recovery in global corporate bond and loan markets began after the Federal Reserve signalled it sees a path to cutting interest rates later this year....
...And remember, people loathe switching their digital and financial infrastructure, even if it doesn’t take that long....
...That comes with a financial cost but more importantly a human and organisational cost....
...In the pre-2008 world of “reserve scarcity”, the Fed influenced credit conditions by tweaking the (low) supply of reserves in the overnight federal funds market....
...The case turns on a legal stipulation that bars the sale of “investment contracts” unless they are registered as securities with federal regulators....
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
...Corinthia told the Financial Times that it had offered Barings to manage some of its funds after these top executives had resigned....
...As my colleague Harriet Clarfelt has reported, roaring investor demand has fuelled a record IG issuance wave, concentrated largely in banks and financials....
...What now for the ‘golden age’ of private credit? It was a boom year for private credit....
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