Hints and tips:
...More recently, the pair had been trying in vain to get regulators to sign off on measures that would allow the bank to shore up its capital position and boost its profitability....
...in residential mortgages....
...Metro, the first of a wave of challenger banks that promised to upend the established order in UK retail banking following the financial crisis, is racing to shore up its finances....
...in China’s manufacturing sector contracted for a fifth straight month in August, according to an official survey, adding pressure on policymakers in the world’s second-largest economy to take action to shore...
...More than 90 per cent of borrowers take out a fixed-rate mortgage for five years or less. Can long-term mortgages, a norm in the US, help solve the country’s housing crunch? We’re also reading . . ....
...New York Community Bank will raise more than $1bn in a deal led by the investment firm of former US Treasury secretary Steven Mnuchin, in an effort to shore up its finances and calm fears after weeks of...
...the mortgage market from 12.2 to 15.7 per cent....
...Gary Greenwood, an analyst at Shore Capital, said that Nationwide will have to extract cost savings....
...The government created Freddie Mac, Ginnie Mae, mortgage-backed securities, modified mortgages and subsidised rates for homeowners. It was a 1 per cent mortgage era....
...Analysts cautioned that selling a part of its mortgage book may not be enough to address the bank’s problems....
...The bank first ran into trouble after the Bank of England declined in September to grant it capital relief for mortgage lending until at least 2024, which resulted in a capital hole....
...The UK’s biggest grocer already sold off its mortgage book in 2019....
...Metro Bank has secured overwhelming shareholder support for the issue of new shares as part of a £925mn refinancing deal to shore up its balance sheet....
...That explains why Metro talks about raising capital and selling part of its mortgage book to reduce capital requirements....
...Experts said it was too early to predict the hit from the regulatory probe but estimates from banks including Jefferies, JPMorgan, HSBC, RBC Capital Markets and Shore Capital range from £6bn to £16bn for...
...Metro also decided to retain a £3bn mortgage book that it had previously considered selling. Gilinski’s appointment also comes in the midst of a wider management and board shake-up....
...The talks came after regulators last month failed to approve a request from Metro to lower the capital requirements attached to its mortgage business....
...Julius Baer will now have to walk a fine line between the dictates of client privacy and shareholder transparency to shore up confidence....
...Virgin Money also took a £45mn impairment hit after it delayed the launch of a digital mortgage brokerage platform....
...The UK challenger bank is in talks with investors about raising £250mn in equity funding and £350mn in debt to shore up its balance sheet, the people said....
...From the terrace of his large, Tuscan-style house in Greenwich, on Sydney’s Lower North Shore, where he has lived for 32 years and raised a family, Dennis Karp still delights in looking out across the harbour...
...The meeting with the consortium was expected to take place later on Saturday, according to a person familiar with the situation, and comes as the challenger bank works to shore up its balance sheet....
...Metro Bank also recently said that Barclays was among the potential buyers of a suite of £3bn worth of mortgages....
...lapped those really strong 2022 figures coming out of the pandemic, the feeling we had was that the cost of living crisis was likely to affect younger families,” said Greg Johnson, leisure equity analyst at Shore...
...Gary Greenwood, at Shore Capital, described the deal as a “very painful rescue” for existing equity and debt holders, and voiced scepticism about its outlook....
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