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...The move comes as other large US banks are becoming more tentative about operations in China....
...The private credit sector stepped in to the gap left by banks after post-financial crisis regulations forced them to scale back lending to small businesses....
...“On a standalone basis, it is quite large,” said Zerlina Zeng, a senior credit analyst at CreditSights, “but compared to the China trust industry as a whole, it’s not very big.”...
...US institutional investors are selling more of their private equity holdings at a discount as they cut exposure to the illiquid asset class, reports Sun Yu in New York....
...“Ripple has been and will remain very much compliant,” Infanger said, adding that “a stablecoin’s core [unique selling point] is simply trust, we fully recognise that”....
...Is Larry Fink the new Sun King of crypto, able to bring things to life simply by putting in an appearance?...
...US government debt is held by nearly every big investor and central bank around the world, and is the benchmark from which many global assets are priced....
...“Lan is the kind of candidate who not only understands what he does but also has trust from the top leadership,” said a person close to the finance ministry....
...“Fundamentally, it’s an issue of trust.”...
...Ultimately, it makes public officials appear slippery and erodes trust in important economic institutions....
...This is visible, for example, in the sharp move up in bank stocks, especially higher-risk regional banks such as Fifth Third, Citizens, KeyCorp, Zions and Comerica (all up 40 per cent or more since late...
...Elsewhere this week, the group of 56 Commonwealth countries will get their annual moment in the sun — or perhaps rain, given that the gathering is in London in the spring — with a service in Westminster...
...As Mayo lays out in his $22 bear case scenario, “history is not on Citi’s side to effectively execute”, given that it is “a bank that has spent decades destroying trust”....
...Private credit and leveraged lending markets remain vulnerable to “sharp revaluations”, the Bank of England has warned, in its latest attempt to sound alarm bells about risks building up in non-bank finance...
...Yet senior officials from the country’s official statistics bureau and the central bank have ruled out the possibility of deflation....
...Liability management draws in Miami crowds The sun was shining, the ocean beckoning....
...News round-up Perella banker had €1mn tied up in secret ‘breakfast trust’ trading scheme, court told (FT) Warren Buffett-backed Mitsubishi’s shares surge to record high (FT) Barratt to buy rival Redrow...
...Richard Watts and Nick Williamson, the managers of the Chrysalis investment trust, are leaving asset management group Jupiter....
...The trust controls roughly 40 per cent of the voting shares in both Fox and News Corp....
...Sun denies any connection, Sun is also the inventor of an “algorithmic” crypto dollar coin, USDD ($72mn in circulation)....
...Blackstone Mortgage Trust and KKR Real Estate Finance Trust, two of the biggest mortgage real estate investment trusts, have halted loans to any new borrowers....
...This is confusing for anyone who would prefer shadow banks and well-lit lenders to stay in their patch of shade or sun....
...A version of this article was first published by Nikkei Asia on April 2 2024. ©2024 Nikkei Inc. All rights reserved....
...Banks such as JPMorgan, which can now run its own securities arm in the country, are building separate infrastructure for China, according to two people briefed on their operations....
...The Canadian bank estimates that net issuance in 2024-2025 will surpass pandemic-era levels....
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