Hints and tips:
...Klarman spent much of his letter critiquing the Fed’s response to the financial crisis, when the central bank cut interest rates close to zero and began hoovering up Treasuries and mortgage-backed securities...
...Share your ideas with us at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...This exhibition at the V&A invites us into the opulent world of master goldsmith Carl Fabergé and his London clientele....
...James Anderson, who has managed the £17.5bn Scottish Mortgage Investment Trust since 2000, will step down in April next year. Read more here....
...In April, mortgage lending in Italy and Portugal was up 3 per cent compared with April last year, say the same ECB data — and is expected to continue to grow, according to the central bank’s latest lending...
...One thing to start: Europe’s top banking supervisor has sought to persuade more of the region’s lenders to merge by clarifying its approach to takeovers....
...Those wanting large mortgages worth 90 per cent or more of a property’s price are having to pay higher interest rates on average even though the Bank of England’s official rate has plunged from 0.75 per...
...Yet one group this week struck a jarringly sanguine note: the region’s banks....
...The Federal Reserve Bank of Philadelphia survey of manufacturing conditions in the region on Thursday showed growth for the first time since February....
...Beyond rate cuts, Asian central banks have done more to ease liquidity shocks, from Bank Indonesia buying government bonds to the Bank of Thailand creating a corporate bond fund....
...Mortgage rates, for example, have risen c50 basis points (and over 100bp for higher LTV) in recent months according to the Bank of England’s own data....
...Just 30% expect a V shaped recovery in the stock market....
...For example, mortgage lending tends to be viewed as safe, and mortgage oriented banks reflect that in their (usual) valuation premia....
...We also think the sector is much less disrupted than banks....
...by certain banks, due to which management believes that Help-to-Buy remains an important tool....
...Elsewhere: Lloyds “warns profitability to fall as mortgage competition intensifies” and the shares are up 3 percent. Calling banks the right direction in your pre-open intro is an absolute nightmare....
...It has since diversified into other products such as mortgages and consumer loans, while cultivating a clubby atmosphere — including happy hours and career sessions for customers — which helps to cut down...
...And Goldman: [S]maller commercial banks stand to benefit most from TFSME, as the scheme lowers their average cost of funding and gives them the ability to compete in lower margin segments such as mortgages...
...Bank twister. October 21, 2009....
...of England consumer credit and mortgage approvals10.00: eurozone business climate and confidence13.00: Germany CPI...
...The same argument applies within a country to capital flows into specific economic sectors or regions — credit can, for example, inflate local housing bubbles....
...Yet autocrats across the region still fear it. Can it survive today’s repression?...
...guidance — issued by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve — was designed to address an apparent rise in practices reminiscent of the mortgage...
...Poland with its first ever downgrade in January, and after ratings agencies cast a wary eye over government plans for the banking sector, including lofty charges to resolve issues over foreign-currency mortgages...
...Another high-profile pullback from Asia would have burnished the region’s reputation as a deathtrap for ambitious overseas banks....
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