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...Discover would have been more difficult to get through regulators than the tie-up Discover ultimately struck with Capital One last month, because JPMorgan is already the biggest US credit card lender by loans...
...Worries have persisted as banks disclose exposure to losses on commercial real estate loans as work from home leaves offices underused....
...The writer is founder of Fox Legal Training Much ink has been spilled about the degrading quality of investor protections in high-yield bond and leveraged loan agreements, also known as “covenants”....
...While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...“Asset quality in commercial remains in a very, very good place, outside of the office sector,” said BofA’s Borthwick....
...Roughly $10bn of so-called private credit loans have been refinanced in public markets, as borrowers pay down burdensome loans in favour of a cheaper alternative, according to data from Bank of America....
...These customers carry lower costs of capital than banks, making them a good home for many loans, Gray told the FT last May....
...Moody’s expects business services, healthcare and “high-tech industries” to have the most defaults this year....
...Bloomberg looked at the huge range of valuations being put on loans in the private market....
...“Loan growth saw yet another weak quarter [from October to December] due to a common focus on quality given elevated household debt and challenged small and medium enterprises, amid a still sluggish and...
...Chang’s and business technology provider Computer Services Inc....
...PBs are one of the main links between traditional banks and shadow banks, offering services like custody, margin loans, derivatives, research and introduction to companies and investors....
...“This will cause pricing, terms and credit quality to erode, fuelling systemic risk.”...
...News round-up Re-merger of Boeing and Spirit AeroSystems pits quality control against value creation (Lex) Stephen Schwarzman given honorary British knighthood (FT) The JPMorgan banker tasked with reviving...
...And they may as well be fed by the highest-quality, independent fact-based content. We have done a number of those deals, and we’re exploring the potential there.”...
...IFR reports that Morgan Stanley is currently marketing its Morgan Stanley Direct Lending Fund at the moment — eyeing a pricing next Tuesday — while Nuveen Churchill Direct Lending Corp is likely too list...
...Using high quality bonds or securities as surety creates complicated linkages....
...Separately, it paid a $25mn penalty to the CFPB related to private student loan servicing practices. “Capital One is a healthy, well-managed, well-capitalised bank....
...Scale is an advantage in a sector where multiple data sources improve credit score quality. Experian benefits from the interplay between its business-to-business and consumer services arms....
...In eschewing this large, liquid, and relatively high-credit quality asset class, we believe investors may be missing an opportunity to optimize their portfolios for strong risk-adjusted returns....
...The ECB outlined three main “headwinds” for banks’ profitability: increased funding costs as they pass on higher rates to depositors; an increase in loan defaults as the economy weakens and debt service...
...“It’s not like triple C is a diversified index,” said Jeremy Burton, US high-yield and leveraged loan manager at PineBridge Investments....
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...The talks are at an early stage, but on the surface a deal between Redstone and Ellison’s production company, Skydance, has a made-for-Hollywood quality....
...Central Huijin, a unit of the $1.4tn China’s largest sovereign fund China Investment Corp, plans to increase holdings over the next six months, according to filings....
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