U.S. banks see the action and uptake of bitcoin via the Bitcoin ETFs, now acknowledged to be the most successful offerings of their kind in history.
Tag: banks
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SPOTLIGHT: BANKS GO BUST
A dramatic increase in late payments on commercial real estate (CRE) loans is sharply shrinking cash reserves that major U.S. banks have set aside to cover such losses.
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TOP TREND 2024: BANKS GO BUST
In 2023, $541 billion in loans against commercial real estate came due, data service Trepp reported, the highest amount ever for a single year.
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TOP TREND 2024 BANKS GO BUST: BANKS BRACE
On 31 January, New York Community Bancorp’s (NYCB’s) share price plunged by a record 38 percent after the company announced it will make sharp cuts to its stock dividend and hoard cash.
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TOP TREND 2024, BANKS GO BUST
Topping last year’s record of $541 billion, in 2027 $602 billion in loans against commercial real estate are scheduled to mature, according to The Wall Street Journal.
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WALL STREET’S TOP BANKERS ARE BAILING OUT OF BANK STOCKS
James Gorman, Morgan Stanley’s CEO for the past 12 years, has sold $48 million worth of his hoard of Morgan stock so far this year, bringing the total he has cashed in to $78 million. Ted Pick, who will take over for Gorman in January, has sold $30 million worth of his shares, according to the Financial Times.
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BANK OF ENGLAND RAISES RATES AGAIN AS INFLATION REMAINS HIGH
The Bank of England (BoE) raised its base interest rate for the 14th time in as many meetings, setting it at 5.25 percent, its highest in 15 years.
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EUROPE’S BANKS INCREASE CASH RESERVES AGAINST FAILING LOANS
In the first six months of this year, London-based Barclays bank set aside £896 million, or about $1.2 billion, to cover loans likely to turn sour, the bank disclosed on 27 July. The amount is more than double that in the first half of 2022.
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TWO MORE U.S. BANKS BITE THE DUST
The troubled PacWest Bancorp, which wobbled in the wake of the mid-March failure of Signature and Silicon Valley banks, has been sold to Banc of California, a smaller competitor, in a stock swap.