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Global Banking

All articles tagged with #global banking

finance1 year ago•2 min saved

"NYCB's Credit Woes Spread to Europe as New Chairman Steps In"

New York Community Bancorp (NYCB) faced its third credit-rating cut due to concerns over its exposure to commercial real estate (CRE), prompting rating agencies to downgrade its credit rating. The bank's shares have fallen around 60% since last week, and its management is considering selling off loans in its CRE portfolio or shrinking its balance sheet to bolster its financial strength. The worries over CRE exposure have also affected lenders in Europe and Asia, with concerns about potential global contagion. Despite these concerns, there is little evidence that banking worries are denting confidence in the broader stock market, and U.S. Treasury Secretary Janet Yellen expects additional stress on banks and some financial losses from weakness in the U.S. commercial real estate market.

via Yahoo Finance|

#commercial-real-estate #credit-downgrade #finance

business1 year ago•2 min saved

"Goldman Sachs Co-Head Jim Esposito Announces Surprise Departure"

Jim Esposito, also known as 'Espo,' is retiring from Goldman Sachs after 28 years, leaving behind a legacy as one of the co-heads of the global banking and markets team. Speculation surrounds his departure, with suggestions that his thwarted ambition to become CEO or president may have played a role. His departure opens up a slot on Goldman's management committee, and former colleagues believe his absence will be felt, particularly in the sales team. It remains to be seen where he will turn up next, with Citadel Securities being a potential option.

via eFinancialCareers|

#business #david-solomon #global-banking

global-economy2 years ago•1 min saved

Global Debt Reaches Record $88 Trillion, Prompting Fiscal Alarm

The Institute of International Finance's CEO, Tim Adams, has raised concerns about the record levels of global debt, emphasizing the urgent need for policymakers to address the "huge fiscal problem." With global debt reaching $307.4 trillion in the third quarter of 2023 and expected to rise further, Adams highlighted the risks posed by high debt levels, particularly in the context of aging populations and upcoming elections that could lead to increased populism. He stressed the importance of swiftly and intelligently addressing fiscal imbalances to avoid a potential crisis.

via CNBC|

#fiscal-imbalances #global-banking #global-debt

finance2 years ago•4 min saved

Credit Suisse's Future Uncertain Amidst Global Banking Turmoil.

Credit Suisse has borrowed up to $54bn from Switzerland's central bank to shore up its liquidity and restore investor confidence, becoming the first major global bank to be thrown an emergency lifeline since the 2008 financial crisis. However, the move has only offered limited respite to global banking stocks, with major US bank shares slipping between 1% and 1.5% in early trading on Thursday. The European Central Bank raised interest rates by 50 basis points on Thursday, stressing the resilience of the euro area banking sector while assuring it had plenty of tools to offer liquidity support if needed.

via Reuters.com|

#central-banks #credit-suisse #finance