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But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.
Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida
Jeff Bezos' fiancée, Lauren Sanchez, posed inside the 10,000 Year Clock in a photoshoot by Vogue. AdvertisementA Vogue feature of Jeff Bezos' fiancée, Lauren Sanchez, featured an iconic photoshoot of the couple in Western Texas. It's located inside a mountain in the Western Texas desert that's part of the Sierra Diablo Mountain Range. Bezos began funding the clock project back in 2011. Jeff Bezos and Lauren Sanchez got engaged in May after dating for about four years.
Persons: Jeff Bezos, Lauren Sanchez, Bezos, Danny Hillis, , Sanchez, intriguingly, Mackenzie Scott Organizations: Vogue, Long Now, Service, Origin, Fox Locations: Western Texas, Van Horn , Texas, Los Angeles
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