Hints and tips:
...The impact of past rate hikes will continue to hit too, and the average rate on outstanding mortgage lending will increase to 3.7 per cent (from 3.2 per cent now) by the end of 2024, based on the swaps curve...
...Consumers are facing higher goods and services costs, higher energy costs and falling real wages — and that’s before they face higher mortgage costs as fixed-rate mortgages at very low interest rates roll...
...A senior executive said the group acknowledged the need to “rebalance” its US business, where its consumer lending operations are more profitable and bigger than its banking activities — the opposite of...
...At the time, H&F outbid Permira in a shootout for the group....
...Mortgage market competition — encouraged by new regulations that left HSBC and Barclays with billions of pounds in excess liquidity that can only be used in the UK — has driven some smaller banks to move...
...For example, mortgage lending tends to be viewed as safe, and mortgage oriented banks reflect that in their (usual) valuation premia....
...Mr Burke, 57, chief executive of HSBC USA since 2014, will retire in October and be replaced by an outsider, Michael Roberts, who previously led Citigroup’s global corporate bank....
...BlackRock is the largest shareholder of Santander, for example, whose asset management unit joined the platform last year, and a major shareholder of HSBC and Credit Suisse, other recent clients....
...The London-headquartered bank said Patrick Burke, 57, who has worked for HSBC since 1989, would retire as chief executive of HSBC USA in October and be replaced by Michael Roberts, an executive who has worked...
...competitive lending rates and sparking a mortgage price war over the past month....
...and 3% for Barclays and HSBC....
...Simon Wells, chief European economist at HSBC: The UK is experiencing two large economic shocks: Covid-19 and a fairly hard Brexit....
...Introduce regulatory and other changes that will more rapidly move investment and lending away from brown and towards green assets and activities....
...The result is a behemoth of a bank. With assets of $2.6tn and more than a quarter of a million staff, only China’s Big Four lender and HSBC are larger....
...It later emerged that Mr Stevenson had been approached to take over as chief financial officer at FTSE 100 rival HSBC....
...The US housing market, once a growth motor of the world’s largest consumer economy and then the epicentre of a global financial crisis, has been on a steadily improving, if slower than expected, trajectory...
...Loan growth is still fairly strong, especially in mortgages and stock-based lending to rich people....
...HSBC made an RoE of 17 per cent a decade ago; Goldman Sachs was making 25-30 per cent....
...Overall, challengers’ lending increased by 31.5 per cent last year, compared with a decline of 4.9 per cent at the “big five” — HSBC, Barclays, Lloyds Banking Group, Royal Bank of Scotland and Santander...
...Santander Consumer USA, a subprime auto lender, has, by comparison, charge-offs approaching 8 per cent. Springleaf believes that the key to good underwriting is a branch network....
...The chancellor should, however, remove or offset hefty capital surcharges imposed on mortgage lending by challenger banks. They are small enough to fail. Bless. jonathan.guthrie@ft.com...
...Some politicians in the US and UK have tried to draw a line under years of heavy lawmaking, taxes and fines, arguing that regulators should now go easier on the banks....
...The LendKey and Lending Club deals were announced to coincide with the opening of LendIt USA, a big industry get-together in New York....
...At the conference — LendIt USA — expect plenty of pounding dance music and talk of radical disruption of the banking industry, as executives from Lending Club, OnDeck Capital and Prosper rub shoulders with...
...In the eyes of many, global investment banks conducting risky mortgage-backed trades were largely responsible for creating the crisis. As a consequence, consumer trust in the sector plunged....
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