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...In the summer of 2020, a so-called fat finger error resulted in a $900mn loan being paid back to lenders of Citi’s client Revlon, instead of the intended interest payment of less than $8mn....
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...In an echo of their 2019 entreaties, they also argue that doing so could limit their ability to make loans....
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...This investment, however, did leave room for higher priority senior loans to be undertaken by Vice in future years....
...Wigdor grew up in suburban Long Island and went to university in Missouri before moving to Washington DC to study law....
...A version of this article was first published by Nikkei Asia on April 27 2023. ©2023 Nikkei Inc. All rights reserved....
...The bank, founded in 2020, has granted more than £1bn in loans to SMEs....
...Kotick also noted Microsoft had hired Beth Wilkinson, a Washington-based antitrust veteran....
...That’s to be expected when refinancing demand is virtually non-existent at these rates, as people cling tight to their low-rate home loans....
...Rocket Companies, which owns Quicken Loans, the US’s largest non-bank mortgage lender, has more than halved to $21bn in market value over the past 12 months....
...At the end of 2021, Citi had $27.3bn worth of exposure to China, including loans and investment securities, five times what it had in Russia....
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