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...The combination of the two banks’ holding companies will mean the Credit Suisse management board will become obsolete, including the role of chief executive....
...Lewis Gillies, Haventus chief executive, is in talks with foreign and domestic companies, such as renewable energy developers, manufacturers and service providers....
...While administrators are typically paid out of the funds belonging to the insolvent company, Credit Suisse, a major Greensill creditor, has been contributing a special fee to keep the supply-chain finance...
...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Finma has argued that without writing down the AT1s, nationalising Credit Suisse would have been the only alternative....
...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, as the largest US bank pursued ways to get control...
...In addition, reforms have introduced new friction, Balkanising service delivery in ways that does no one any favours....
...company....
...Speciality finance lending looks a promising new seam for private credit companies to mine....
...A deal would give Boehly’s Eldridge Industries a foothold in the fast-growing market for lending to private European companies, building on its investments spanning insurance, asset management, technology...
...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....
...Private credit alpha Unhedged went through a period last summer during which we obsessed over what expected returns for private credit might be, and where those returns come from....
...Some insurance and pension companies have significantly expanded their investments in private credit and other illiquid investments....
...These range from the sale of $2.3bn of loans from PacWest to Ares via Barclays in the regional bank crisis of March 2023, Blackstone Private Credit Fund’s 19 secured credit commitment facilities, REITs’...
...These should offer extra returns for holding complexity or illiquidity without adding credit risk....
...Under the proposals, asset managers would be able to choose whether to pay for research separately, or together with other trade services....
...Traditional private equity firms in the past five years have however raised mega private credit funds that can go head-to-head with the bank-originated syndicated loans extended to companies of in effect...
...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....
...To recap, “private credit” generally means direct loans to companies, often involving a private equity backer and a small handful of lenders (or even just one)....
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...Raiffeisen has the largest operations in Russia of any western lender, which has opened it up to scrutiny from global agencies....
...Here’s a fun prediction: The privacy of private credit markets could be eroded by their own success....
...Major lenders like Nomura, Credit Suisse, Morgan Stanley and UBS all took big hits....
...US plans for shutting down a global bank call for removing top management, wiping out the shareholders and imposing losses on creditors of its holding company....
...Negotiations between highly indebted IT services company Atos and its lenders are hanging in the balance after one of its biggest creditors, Crédit Agricole, signalled it wanted to walk away....
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