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☆ Housing affordability has improved, but not by much
▼ + stars: | 2024-03-26 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

The last time the typical household earned more than the median-priced home was in February 2021. AdvertisementMortgage rates have eased from multi-decade highs hit late last year, but housing affordability hasn't improved much in 2024. "For over a decade, America has been slowly marching toward a housing affordability crisis due to chronic underbuilding, and that crisis was kicked into overdrive when the pandemic homebuying boom fueled a meteoric rise in housing prices," said Redfin senior economist Elijah de la Campa. On the flip side, buyers in Anaheim, California were hit by the nation's biggest housing affordability crunch, as they needed 20% more income compared to the previous year. The median home price has climbed twice as much as the 6% rise in median household income over the past year.

Persons: Redfin, —, It's, Elijah de la, Campa Organizations: Service Locations: America, San Antonio , Texas, Anaheim , California

☆ EU to ease process of winding down medium-sized banks - Bloomberg News
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

March 31 (Reuters) - The European Union intends to make it easier to wind down medium-size banks that fail by tapping national deposit guarantee systems for funding, Bloomberg News reported on Friday, citing people familiar with the matter. The European Commission, in a proposal due in April, would facilitate using the funds to close the gaps at banks that have insufficient funds, as well as avoid tapping uninsured depositors, Bloomberg reported. Last week, European Central Bank head Christine Lagarde told EU leaders that European banks were safe but called on governments to push ahead with a stalled EU deposit insurance scheme. This week, the head of the European Banking Authority (EBA) Jose Manuel Campa warned that the banking sector remained very vulnerable even after measures to stem the fallout of crises at Silicon Valley Bank and Credit Suisse. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Andrew Bailey says Bank of England on high alert as investors 'test' banks
▼ + stars: | 2023-03-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

On Monday, European bank shares rose, boosted by news that First Citizens Bank in the United States would buy most of the assets of Silicon Valley Bank, which collapsed earlier this month. “I think there are moves in markets to, if you like, test out firms,” Bailey told a UK parliamentary committee Tuesday. José Manuel Campa, the head of the European Banking Authority, told Germany’s Handelsblatt Monday that European lenders remained vulnerable. The Swiss heavyweight was rescued by UBS, while SVB UK was bought by HSBC (HBCYF) for £1 after its US parent was shut by regulators. Despite being well-capitalized, SVB UK would not have survived the demise of its US parent, according to Bailey.

London CNN —Europe’s banks are not yet in the clear, a top EU regulator said Monday, two weeks after the collapse of Silicon Valley Bank in the United States unleashed turmoil in the global banking sector. José Manuel Campa, the head of the European Banking Authority (EBA), told a German newspaper that European lenders remained vulnerable following the demise of SVB and the subsequent emergency rescue of Credit Suisse by UBS. The regulator is currently finalizing a study of the effects of interest rate risks on European banks, which it started working on in the fall. “The investigation is not yet concluded, but I can say already today that we don’t expect to find major institutions with significant solvency risks arising from unrealized losses,” Campa said. Meanwhile, years of mismanagement and scandal at Credit Suisse left it particularly exposed to a broad sense of unease about banks.

[1/2] Bottles of Campa Cola and Coca Cola are displayed at a Reliance Smart supermarket in Mumbai, India March 20, 2023. Other well known tycoons have tried to go toe-to-toe with the drinks giants, and failed, most notably Richard Branson with his Virgin Cola. The smallest bottles of Campa Cola and Coke both cost 10 rupees, while Pepsi starts from 12 rupees. Reliance did not respond to a request for comment, while Pepsi said it doesn't comment on competition as a policy. Another city store employee said 30 Campa bottles were being sold for every 100 of Pepsi and Coca-Cola.

☆ European lawmakers are quietly miffed at U.S. regulators over SVB's collapse
▼ + stars: | 2023-03-23 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Chair of the ECB Supervisory Board Andrea Enria and Chairperson of the European Banking Authority (EBA) Jose Manuel Campa in the European Parliament on March 21, 2023. And in Switzerland, a non-member of the European Union, authorities had to rescue Credit Suisse by asking UBS to step in with an acquisition. Meanwhile, regulators and officials across the European Union have been nervous about potential contagion to their own banking sector. After all, it's not been that long since European banks were in the depths of the global financial crisis. Like him, an array of officials have made an effort to stress that the European banking system is in much better share compared to 2008.

☆ Ammar Campa-Najjar faces off against John McCann in Chula Vista, California's mayoral election
▼ + stars: | 2022-11-08 | by ( Hanna Kang | ) www.businessinsider.com time to read: +2 min

Ammar Campa-Najjar is running against John McCann in Chula Vista, California's mayoral race. The San Diego State University graduate ran two unsuccessful congressional campaigns, one against Rep. Darrell Issa in California's 50th Congressional District. He is endorsed by the San Diego County Democratic Party, Chula Vista Firefighters, and several high-profile elected officials, including Gov. McCann is currently serving his fourth term as deputy mayor on the Chula Vista City Council. He is endorsed by the Chula Vista Police Officers Association, the Republican Party of San Diego County, and the San Diego County Hispanic Chamber of Commerce.

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