Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...The bank is looking to raise the same amount again for the project through different financial instruments such as grants, loans, guarantees and risk-sharing mechanisms....
...SF: You wrote earlier this year that the long period of lax monetary policy had created increased systemic risks. The context for that was the turmoil around Silicon Valley Bank, et al....
...The recent rise of the Faangs, et al, looks like a knee-jerk reaction to the fall in rates and rate expectations that followed the banking mess (the 10-year yield has fallen from 4-ish per cent to 3.6-ish...
...: home loan trend will help HDFC forge ahead (Lex)...
...In the old days, such financing would be the coveted preserve of syndicated loan powerhouses such as JPMorgan, Bank of America or Citigroup....
...month of the next tranche of a $3bn loan....
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...Adarsh Sinha, Bank of America FX analyst, disagrees. In a note yesterday, he argues high interest rates make this time different than in 2011....
...If we are right that consumer spending, despite some recent softening on the margin, is still at or above trend, that is another thing for Powell et al to fret over....
...I went home in floods of tears. My main memory as a kid was that we didn’t have any money. I was that kind of kid....
...Need to know: Global economy Sultan Al Jaber, the president-designate of COP28 and head of the Abu Dhabi National Oil Company, promised to “supercharge” global climate finance, finalise a $100bn fund to...
...Bank of America’s Asia-Pacific equities co-head Tucker Highfield is retiring, according to Bloomberg....
...al) wouldn’t bring globalisation to a halt....
...By the time they get out of high school they should know how to do a checking account and a savings account and et cetera because this is core to how you build wealth in America....
...However, the downside is that gold secure at home cannot be readily used as collateral for loans. 3) It reduced its exposure to countries, not currencies: In 2013, France, the US and Germany amounted to...
...’s successful bid to offer taxpayer-backed Covid loans....
...The Bank of England is under pressure to announce a hefty rise in rates tomorrow, while European Central Bank president Christine Lagarde has also stressed the need for swift increases....
...in Alibaba, Bank of America, Wells Fargo and Chinese carmaker BYD among others....
...It’s not a consumer bank. It’s not a business bank....
...In the second quarter of this year, growth in card loans at JPMorgan Chase, Citigroup and Bank of America were 0 per cent, -5 per cent, and -10 per cent, respectively....
...That means migrants lose their credit histories when they move and often struggle to secure reasonable terms on loans for homes, cars, and other purchases that would help them re-establish their lives....
...They may be featured in a future edition of the newsletter. Thanks for reading FirstFT Americas — Yasemin Five more stories in the news 1....
International Edition