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...The deal under discussion would see Brookfield invest more than $1.5bn to buy a majority interest in Castlelake and make a large investment in its funds, three people briefed on the matter told the Financial...
...The investors owned additional tier 1 bonds, or AT1s, a form of bank debt that can be converted into equity or written down when a bank runs into trouble....
...The request is the latest salvo in a legal fight that began when the regulator sued Ripple in 2020, alleging it had sold $1.38bn worth of its XRP token without filing registrations required under US securities...
...The lion’s share of that fee — about $1.80 — goes to the bank that issued the credit card that is being used....
...Around $1.2tn of fresh global private capital was raised in 2023, according to Preqin. Sure, this is less than the $1.5tn in 2022 or the $1.7tn of 2021. But still, 1.2 TRILLION DOLLARS!...
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...Preqin’s latest estimate based on data to Jun-23, stands at $1.71tn globally, with $1.08tn of that situated in North America. These numbers aren’t the whole story, however....
...The lawsuit underscores intensifying competition for talent among traditional lenders racing to expand in the fast-growing $1.7tn private credit market....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...DBRS’s report also contains this wonderful description of Sotheby’s Financial Services’ collection strategy if any deadbeat art collectors fall behind on their payments: SFS employs a strategy for collections...
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...It also shows the lengths that businesses will go to to win a share of the booming $1.7tn private credit market....
...Fitch also forecast that general government debt — which covers local and central government borrowing — would rise to 61.3 per cent of GDP in 2024, up from 56.1 per cent in 2023, primarily due to fiscal...
...Data shows that this direct lending market now has $800bn of assets under management, compared to about $1.4tn of syndicated loans outstanding....
...Earnings per share were $1.89, up from $1.17 last year and exceeding the average $1.53 estimate....
...Before the recent rise in interest rates, this mostly involved gawking at the erosion of lender protections in bond contracts and having fun with credit default swaps....
...Bishop said Apple was already enforcing the filing requirement for Chinese developer accounts, and was required to do so for international services....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...Corinthia was publicly launched by Weightman only seven months ago to take advantage of the booming private credit market, which has grown to $1.7tn as many banks retreated from business lending after the...
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...Blackstone’s president Jonathan Gray earlier this year said it was a “golden moment” for the fast-growing $1.5tn industry....
...Moderna paid $1,053,767 for security services to Stéphane Bancel, after not disclosing any security payments for him the previous year....
...“As a concept, credit-backed gilt repo is really exactly the same as having credit-backed swaps,” said Simeon Willis, chief investment officer at consultancy XPS Pensions....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...LSEG said revenues rose 7.3 per cent to £2.1bn but were “impacted by cancellations related to Credit Suisse as expected”, as the collapsed bank cancelled its subscriptions to LSEG’s data services....
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