Hints and tips:
...The Dutch fund house owned by Japan’s Orix Corporation has announced that Nick King will lead its ETF market entry as head of ETFs from October....
...expand globally and strike new communications contracts with the private sector, said Jorge Rodríguez, chief executive of Sorenson, and David Posnick, a co-head of distressed investments at Blackstone Credit...
...Lasso triggered snap elections in May when, facing impeachment charges, he used a clause in Ecuador’s constitution known as “mutual death” to close congress....
...But instead of going out to the hedge funds and mutual funds that usually constitute an order book in an IPO, the bank would focus on existing investors in the EQT fund....
...Credit cards are the biggest source of pain for a number of lenders while commercial real estate loans are also proving a drag on banks’ performance....
...They come with a “super-lien”: If the borrowers fail, the FHLBs get paid first, before everyone — including the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC)....
...The Federal Deposit Insurance Corporation, which manages US bank failures and administered the First Republic transaction, made clear JPMorgan had won the deal ahead of other bidders, essentially thanks...
...This week’s surge has been particularly notable, given that March 15 is a day when many US corporations pay tax, and typically move cash out of money markets....
...The invention of the money market mutual fund (MMF) in 1972 (when the SEC approved the listing of the Reserve Fund) was a watershed moment....
...However, the Federal Deposit Insurance Corporation estimated that losses to its insurance fund would be about $13bn....
...Washington Mutual, for example, was sold to JPMorgan Chase. The FDIC said it would use the sale proceeds of SVB to fund payouts to larger depositors....
...Tomas Hirst of Liberty Mutual broadly agrees with my point about credit risk. “We think credit is rich across the board, especially in the US,” he says....
...It took Washington Mutual nine days to lose $16.7bn, or about 9 per cent of deposits, back in 2008. Something has changed. So why not just insure all deposits?...
...The collapse of the $209bn-in-assets lender marks the second-largest bank failure in US history after the 2008 shuttering of Washington Mutual....
...Either they must be like a mutual fund. So the value of your liabilities moved with the value of your assets....
...Some think deposit insurance is a consumer protection tool, like limits on credit card fraud losses....
...But the Federal Deposit Insurance Corporation, advised by longtime investment banker and former Obama administration official Jim Millstein, became frustrated....
...The screen The US Federal Deposit Insurance Corporation covers more than 4,200 commercial banks, or one lender per 80,000 citizens....
...The case centred on two Goldman mutual funds and a separately managed account strategy, all marketed as ESG investments....
...Its $440bn credit arm makes more business loans than some midsize banks, making it not so much an investment outfit as an alternative financial system....
...they are better positioned to step in and provide financing while markets remain choppy because the capital they have to put to work is locked up and cannot be withdrawn as quickly as it can from typical mutual...
...Distrust has long been mutual....
...In recent years, competitors including Blackstone, Apollo Global, KKR and Carlyle Group have converted from publicly traded partnerships to ordinary corporations in an effort to attract mutual fund and index...
...This year to late May, investors pulled $57bn out of municipal mutual bond funds, according to EPFR data....
...It’s a credit card that Apple is responsible for the, you know, the customer-facing part of things, issuing the credit card, the consumer experience, the website, things like that....
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