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Withdrawals

All articles tagged with #withdrawals

Private debt fund vows withdrawals won’t reopen, echoing Bear Stearns era concerns
markets9 days ago

Private debt fund vows withdrawals won’t reopen, echoing Bear Stearns era concerns

Blue Owl Capital Corp. II, a $1.6 billion private-debt fund, has abandoned plans to resume withdrawals and will return about 30% of NAV this quarter after its manager sold $1.4 billion of loans to large pension and insurance buyers (including $600 million from the fund). Mohamed El-Erian weighed in on the development, drawing Bear Stearns parallels and warning of broader risks in private credit, even as related Blue Owl vehicles trade well below NAV and the parent’s stock has tumbled.

via MarketWatch|
#bear-stearns-parallels#blue-owl-capital#markets
OregonSaves Holds $430M Despite Ongoing Withdrawals
business2 months ago

OregonSaves Holds $430M Despite Ongoing Withdrawals

OregonSaves, a state-run retirement savings program with $430 million in assets, has successfully enrolled 180,000 residents, but many are withdrawing funds early, leading to an average account balance of only $3,000. Despite its growth and success in encouraging saving, the frequent withdrawals, often for emergencies, hinder long-term retirement preparedness, highlighting the challenges of encouraging consistent savings.

via Oregon Public Broadcasting - OPB|
#business#financial-planning#oregonsaves
Cameron Young Leads Wyndham Championship Amid Player Withdrawals
sports7 months ago

Cameron Young Leads Wyndham Championship Amid Player Withdrawals

Multiple golfers withdrew from the Wyndham Championship due to weather and injuries, including notable players like Akshay Bhatia and Erik van Rooyen. Rory McIlroy announced he will skip the upcoming FedEx St. Jude Championship to rest and manage his schedule, despite his high standing in the FedEx Cup standings. The tournament and playoff race are shaping up with key players making strategic decisions.

via Athlon Sports|
#fedex-cup#golf#rory-mcilroy
2025 NBA Draft: Key Winners, Losers, and Impact of Withdrawal Deadline
sports9 months ago

2025 NBA Draft: Key Winners, Losers, and Impact of Withdrawal Deadline

The 2025 NBA Draft deadline saw significant decisions with players like Yaxel Lendeborg and Labaron Philon choosing to return to college, boosting their teams' prospects, while others like Cedric Coward and Adou Thiero moved on to the NBA, impacting their programs. The event highlighted the influence of NIL deals and the shifting landscape of college and professional basketball, with winners including Michigan and Florida, and losers like Duke and Arkansas. NBA second-round talent pool is shrinking as more players opt to stay in college.

via CBS Sports|
#college-basketball#nba-draft#nil-deals
"93 Players Withdraw from 2024 NBA Draft, Big Names Return to College"
sports1 year ago

"93 Players Withdraw from 2024 NBA Draft, Big Names Return to College"

The NBA announced that 93 players have withdrawn from the 2024 draft pool to retain their college eligibility, with the NCAA's withdrawal deadline having passed. The NBA's own deadline is June 16, allowing more players, primarily international and non-college athletes, to withdraw. Currently, 108 early entrants remain from the initial 201.

via hoopsrumors.com|
#college-basketball#draft#early-entrants
Starwood REIT Limits Withdrawals Amid Cash Crunch
business1 year ago

Starwood REIT Limits Withdrawals Amid Cash Crunch

Starwood Real Estate Income Trust, managed by Barry Sternlicht's Starwood Capital Group, is limiting investor withdrawals to 1% of the fund's assets per quarter due to a potential cash crunch caused by high interest rates and declining commercial property values. This move aims to avoid selling properties at discounted prices and reflects the challenges faced by real estate investment trusts in the current market.

via The New York Times|
#business#cash-crunch#high-interest-rates
"Ethiopian Bank's Technical Glitch Sparks Massive Customer Withdrawals of Millions"
finance1 year ago

"Ethiopian Bank's Technical Glitch Sparks Massive Customer Withdrawals of Millions"

Ethiopia's largest bank, the Commercial Bank of Ethiopia, is facing a financial crisis after a technical glitch allowed customers to withdraw more money than they had in their accounts, resulting in reported losses of over $40 million. The glitch, attributed to a routine system update gone wrong, led to long lines at ATMs and temporary closure of banking operations. Ethiopian officials have ruled out a cyberattack, and the bank is now attempting to recover the substantial sums withdrawn during the incident.

via NDTV|
#commercial-bank-of-ethiopia#ethiopian-banking#finance
Ethiopian Bank Grapples with Massive Withdrawals Due to Technical Glitch
finance1 year ago

Ethiopian Bank Grapples with Massive Withdrawals Due to Technical Glitch

A "glitch" at Ethiopia's largest bank, the Commercial Bank of Ethiopia, allowed customers to withdraw unlimited funds, resulting in over $40 million being withdrawn or transferred before transactions were halted. The bank's president stated that a large portion of the cash was withdrawn by students, with several universities urging students to return the money. The bank confirmed the service interruption but denied it was due to a cyber attack, while Ethiopia's central bank stated that it was a result of system security checks and not a threat to the financial system.

via CNBC|
#commercial-bank-of-ethiopia#ethiopia#finance
"Ethiopian Bank's Technical Glitch Enables Unlimited Withdrawals of Millions"
finance1 year ago

"Ethiopian Bank's Technical Glitch Enables Unlimited Withdrawals of Millions"

A "systems glitch" at the Commercial Bank of Ethiopia allowed customers to withdraw more money than they had in their accounts, resulting in over $40 million being withdrawn or transferred before the bank could freeze transactions. The glitch was first discovered by students and spread through universities via messaging apps and phone calls, leading to long lines at campus ATMs and police intervention. The bank is now working to recoup the money, and the bank president has stated that anyone who returns it will not be charged with a crime.

via Newser|
#banking#commercial-bank-of-ethiopia#finance