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☆ Premarket stocks: Why it’s not all doom and gloom for commercial real estate
▼ + stars: | 2024-03-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —After decades of growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. I take that as a signal of a potential turn in the CMBS market in terms of the market sentiment. It’s not just all gloom and doom in the CRE market. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. OPEC+, a coalition of the world’s top oil producing countries, had announced voluntary oil cuts of 2.2 million barrels per day in November.

Persons: Tracy Chen, Chen, that’s, Bell, Banks aren’t, CMBS, We’ve, they’ve, —, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, Eva Rothenberg, Brent, Goldman Sachs Organizations: CNN Business, Bell, New York CNN, New York Community Bancorp, Brandywine, Intercontinental Exchange and Bank of America, outperformance, Fed, New York Community Bank, York Community Bank, Federal, Apollo Global Management, Richmond Federal, CNBC, OPEC, AAA Locations: New York, Japan, Switzerland, Germany, New, New York City, Richmond, OPEC, Saudi Arabia, Russia, Iraq, United States

☆ ‘Almost All Loans Are Bad’—Why Banks Aren’t Lending
▼ + stars: | 2023-09-13 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Hong Kong Is Bullish on Crypto. Its Banks Aren’t So Sure.
▼ + stars: | 2023-07-17 | by ( Elaine Yu | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/hong-kong-is-bullish-on-crypto-its-banks-arent-so-sure-726618ec

Persons: Dow Jones Locations: kong

☆ First Republic may not survive, even after two multibillion-dollar bailouts
▼ + stars: | 2023-04-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —First Republic Bank is in a fight for its survival. “It’s becoming clearer each day” that First Republic is “toast,” said Don Bilson at Gordon Haskett, in a note Wednesday. First Republic said in its latest earnings call that is exploring its strategic options, Wall Street code for searching for a white knight. First Republic CEO Michael Roffler attempted to assure investors in an earnings call Monday that the bank had enough liquidity to do that. That’s what happened to Silicon Valley Bank on March 10 when the California Department of Financial Protection and Innovation took possession of and closed Silicon Valley Bank and on March 12 Signature Bank was closed by the New York State Department of Financial Services.

☆ After Credit Suisse, Chinese Banks Aren’t a Great Safe Harbor
▼ + stars: | 2023-04-04 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

With the global banking sector in an uproar, it is understandable that shares of Chinese banks have outperformed their peers. Chinese banks are unlikely to be dragged into the still-simmering banking crisis in the U.S. and Europe. Anemic growth and declining margins—along with persistent concerns about undercounted problem loans—make Chinese bank shares more of a value trap than a safe harbor. Thanks to its insulated and tightly controlled financial system, China is relatively safe from contagion related to the failure of Silicon Valley Bank and fire sale of Credit Suisse . Foreign assets only accounted for around 2% of total banking assets in China last year, and most of those were loans, according to Morgan Stanley.

☆ First came bank failures. Now comes the House hearing
▼ + stars: | 2023-03-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Federal regulators are being called to testify before the House Financial Services Committee on Tuesday about the collapse of Silicon Valley Bank and Signature Bank. What lawmakers are saying: Elected officials want a review of what happened at Silicon Valley Bank and Signature Bank earlier this month, as well as stricter regulations to prevent it from happening again. Regulators on March 12, just days after SVB collapsed, announced a guarantee of all deposits at the bank and Signature Bank. What to expect: It’s unclear what will come of the hearings on SVB and Signature Bank. Wednesday: The House Financial Services Committee’s hearing on the banking crisis continues for a second day.

☆ Banks aren’t out of the woods yet and neither is the economy. Here’s why
▼ + stars: | 2023-03-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Markets seesawed severely this week when two of the US economy’s most prominent leaders gave seemingly contradictory statements on the health of the banking sector. But the evolving banking crisis makes it unclear if the central bank’s best-laid plans will pan out. The tumult in the banking sector is an outcome of the central bank’s fight against inflation, says José Torres, senior economist at Interactive Brokers and former economist at the FDIC. And while containing the banking turmoil will be important for markets and the economy, it’s only one part of a complex equation. To be sure, it’s unclear how the banking sector will hold up, especially as a slide in shares of Deutsche Bank on Friday adds to global concerns.

New York CNN —The banking meltdown over the past week has left us with more questions than answers. Here are five questions that experts answered Wednesday night. Former Treasury Secretary Larry Summers told CNN that despite scary headlines, now is not the time for consumers to panic. Some context: Those regulations passed in the wake of the Great Recession laid out stricter rules for the banking industry. Of course, others note that the risk of letting the 16th-largest US bank collapse, and potentially letting its tech industry customers also fail, could have far-reaching and potentially devastating consequences.

☆ Fed’s reluctance to go green will cost the Earth
▼ + stars: | 2023-03-07 | by ( Ben Winck | ) www.reuters.com time to read: +8 min

WASHINGTON, March 7 (Reuters Breakingviews) - Central banks don’t think they can do much about the environment. The U.S. Federal Reserve has done even less, arguing it should not tackle climate change without an explicit order from Congress. In a 2021 survey by Invesco, 63% of responding central banks said addressing climate change fell within their mandate. Central banks aren’t best equipped to lead the green transition, anyway. There’s also a valid concern that focusing on climate change could water down the Fed’s mission to fight inflation.

☆ U.S. Warns Banks to Watch for Russian Oligarchs Investing in Commercial Real Estate
▼ + stars: | 2023-01-26 | by ( Dylan Tokar | ) www.wsj.com time to read: +3 min

Banks should be on alert for Russian oligarchs attempting to circumvent U.S. sanctions by investing in commercial real estate, a U.S. Treasury Department watchdog said. Sanctioned individuals may try to use pooled investment vehicles or offshore funds to avoid due-diligence processes, FinCEN said in its alert. Sanctioned individuals could keep lowering their stakes to avoid detection, while still maintaining control of the fund, FinCEN said. Sanctioned individuals aren’t just investing in high-end or luxury properties, according to the alert. Federal prosecutors have warned that lawyers, consultants and other service providers who work for sanctioned individuals could run afoul of the law.

☆ Inflation is falling. But the days when prices rose just 2% may never return
▼ + stars: | 2022-12-13 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

Energy prices are pulling back because of fears of a global recession, and the price to ship a container across the ocean has plummeted. In the United States, consumer prices rose at an annual rate of 7.1% in November, the smallest increase since December 2021. Prices rose by 10.7% in the United Kingdom last month, down from 11.1% in October, according to data published Wednesday. But even if this bout of inflation has peaked, economists are warning the world may not return to simpler days when prices barely rose at all. At least for now, supply of critical minerals can’t keep up, which could force prices higher at times.

☆ Increasing tech innovation also brings increasing fraud
▼ + stars: | 2022-12-05 | by ( ) www.businessinsider.com time to read: +1 min

Banks are coming under fire for weak security controls which are leaving consumers more vulnerable to spoofs, scams, and hackers. Elsewhere, UK banks aren’t taking full advantage of resources that can prevent their customers from falling victim to authorized push payment (APP) fraud , per FinExtra. APIs power open banking: In partnering with fintechs, banks rely heavily on APIs to create quick and easy connections with third-party providers. The practice is common in the UK, where open banking is part of a national mandate. US banks aren’t yet required to implement open banking solutions, though requirements are likely coming .

☆ How Much Money Can You Make Chasing High-Yield Savings Rates?
▼ + stars: | 2022-06-07 | by ( ) www.wsj.com time to read: +6 min

Given how much sleep consumers are losing these days with record inflation and gas prices, chasing after a better deal by moving your money to a high-yield savings account seems like one easy solution. Additionally, savings interest rates can rise if the Federal Reserve holds off on purchasing U.S. Treasuries, and rising Fed interest rates can impact savings interest rates. Experts expect the rate environment for high-yield savings accounts to improve in the near future, or at least not worsen. And let’s take what the Federal Deposit Insurance Corp. listed as the average savings account interest rate in mid-May: 0.07%. If you do open a high-yield savings account, you may find yourself enjoying the better rate and saving more than in the past.

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