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...UBS agreed to rescue Credit Suisse last March in a deal orchestrated by Switzerland’s finance ministry, financial regulator and central bank....
...By contrast, CDFIs and credit unions managed more than $150bn in the US in 2019, according to a report by social impact investor Big Society Capital, which is also backing the fund....
...Scope told the Financial Times that the issues raised by Esma “had no influence on individual ratings issued by Scope”....
...CREDIT: UAW Read a transcript of this episode on FT.com...
...Big bancassurers such as France’s Crédit Agricole and KBC of Belgium could capitalise on rule changes....
...The report said government spending on the state pension, pension credit and winter fuel payment was expected to be £132bn in 2023-24, or 5.1 per cent of national income....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company....
...Bank of England deputy governor Sarah Breeden has called for more research into non-bank lenders to stave off a “credit crunch” that could be triggered by a retreat of hedge funds, pension funds, insurers...
...CREDIT: PBS, ABC News Read a transcript of this episode on FT.com...
...Larger, healthy banks can extend more credit, which supports companies and overall economic growth....
...At some point, this risks leaving lenders without sufficient reserves and could cause unwanted volatility in short-term borrowing costs and even a credit crunch....
...Extreme weather risked causing “reduced tax revenues, increased government expenditure, lower credit ratings and increased cost of borrowing”, it added....
...Crédit Agricole posted a 25 per cent drop in net income to €1.33bn, though it set aside less money than expected against soured loans....
...In the 15-plus years since the financial crisis, the western world has been through a protracted process of rewriting regulations to protect against another 2008....
...Isabel Schnabel, ECB executive board member, told the Financial Times this month that lower borrowing costs and increased lending could cause inflation to “flare up again”....
...dry, the unions said....
...The squeeze — also driven by the expiry of the ECB’s cheap loans to banks — has hit the supply of credit to non-financial companies, which fell 0.3 per cent in the year to October....
...Le Maire had also flagged potential changes to loosen lending rules, such as a mortgage threshold capped at 35 per cent of a household’s income, though the financial stability body he chairs ruled in September...
...Some countries, such as Sweden, Finland and Germany, were forced to provide credit guarantees to local utilities in the summer of 2022 to help them through the impact of record energy prices....
...Finance ministers are rarely ecstatic when their credit rating is being slashed....
...Marie Nilsson, the head of the IF Metall union behind the strike against Tesla, told the Financial Times that the famed Swedish model — developed in the 1930s — was at the heart of the country’s prosperity...
...Financial investors are not yet warming to this logic, showing their weakest demand for European carbon credits since early 2019, according to Morgan Stanley....
...Instead, banks would have to rely on more traditional, standardised assumptions that measure how risky assets are by using credit ratings from agencies....
...Marie Nilsson, head of the powerful IF Metall union, told the Financial Times last week that Sweden’s famed economic model could be threatened in the long term if Tesla were allowed to opt out of a collective...
...Credit Suisse’s takeover by UBS last March marked the first demise of a globally systemic lender since the financial crisis....
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