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Top related persons:
Christopher Wolfe - 1 They're - 1 Brian Graham - 1 Graham - 1 Sheila Bair - 1
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U.S
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Fitch - 1 CNBC - 1 Consulting - 1 Klaros - 1 U.S . Federal Deposit Insurance Corp - 1 FDIC - 1

Search resuls for: "Christopher Wolfe"


6 mentions found


☆ Why hundreds of U.S. banks may be at risk of failure
  + stars: | 2024-05-01 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com   time to read: +1 min
Hundreds of small and regional banks across the U.S. are feeling stressed. "You could see some banks either fail or at least, you know, dip below their minimum capital requirements," Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and found 282 banks face the dual threat of commercial real estate loans and potential losses tied to higher interest rates. "That means there'll be fewer bank failures. For individuals, the consequences of small bank failures are more indirect.
Persons: Christopher Wolfe, They're, Brian Graham, Graham, Sheila Bair Organizations: Fitch, CNBC, Consulting, Klaros, U.S . Federal Deposit Insurance Corp, FDIC Locations: U.S
☆ Inside the scramble to evacuate a US embassy surrounded by the chaos of street fighting, gunfire, and explosions
  + stars: | 2023-05-16 | by ( Jake Epstein | ) www.businessinsider.com   time to read: +13 min
US forces evacuated the American embassy in Sudan days after violence erupted in its capital. As the situation deteriorated, the Pentagon dispatched Special Operations Forces to evacuate US diplomatic staff in a dramatic helicopter operation. Foreign governments began efforts to pull out their diplomatic staff and, in some cases, also moved to evacuate their civilians. People walk by a house hit in recent fighting in Khartoum, Sudan, Tuesday, April 25, 2023. US Marine Corps courtesy photoWith the embassy staff gone, questions remained over whether Washington would move to evacuate US citizens, as some other Western nations had been doing.
☆ Bank buyers expect sweeteners as US government sets new bar
  + stars: | 2023-05-05 | by ( Saeed Azhar David French Tatiana Bautzer | Saeed Azhar | David French | ) www.reuters.com   time to read: +6 min
The latest case in point: The Federal Deposit Insurance Corp (FDIC) chose JPMorgan Chase & Co (JPM.N) as the winning bidder in an auction to buy collapsed lender First Republic Bank on Monday. FDIC officials, however, say would-be buyers risk losing out if they allow the value of an acquisition target to deteriorate over time while waiting for an FDIC receivership. SWEETENERSU.S. bank mergers were already sluggish as interest rates rose and recession loomed, analysts at Raymond James wrote in an Apr. The first quarter was the quietest opening to a year for bank deals in a generation, they said. Market volatility stops bank buyers from pulling together enough money to cover writedowns on struggling assets, which would be triggered by a traditional acquisition, said David Sandler, co-head of financial services investment banking at Piper Sandler Companies (PIPR.N).
☆ First Republic's strategic options "very challenging" - Fitch
  + stars: | 2023-04-25 | by ( Saeed Azhar | ) www.reuters.com   time to read: +2 min
NEW YORK, April 25 (Reuters) - First Republic Bank's (FRC.N) strategic options are "very challenging" because any potential sale is unlikely without the lender taking big writedowns on its mortgage loan book and securities portfolio, analysts at Fitch Ratings said on Tuesday. "The options are very challenging and probably very costly, especially for shareholders. The bank said it was "pursuing strategic options" to strengthen the bank, without providing details. "There are still more downside risks until some clarity emerges on what their strategic options can be," Wolfe said. First Republic's total investment securities stood at $34.8 billion at the end of March, rising 9.8% from the fourth quarter, it said on Monday.
☆ Banks ‘aren’t out of the woods’ after the collapse of SVB and Signature
  + stars: | 2023-04-25 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +4 min
New York CNN —A month ago, code blue sirens went off at banks across the globe after the collapse of Silicon Valley Bank and Signature Bank. For now, looking at banks’ deposits may lead you to believe that banks are in better shape than they are, but they “are not out of the woods just yet,” said Ana Arsov, managing director at Moody’s. After the collapse of SVB and Signature Bank, record levels of deposits poured into Bank of America, JPMorgan Chase and Citibank from mid-size and regional banks. A sign is posted on the exterior of a First Republic Bank office on March 16, 2023 in San Francisco. And the Fed’s likely rate hikes at its upcoming meetings will lead to more deposit outflows, said Wolfe.
☆ More bank jitters as First Republic probes asset sales, 'bad bank' options, source says
  + stars: | 2023-04-25 | by ( Manya Saini David French Saeed Azhar | Manya Saini | David French | ) www.reuters.com   time to read: +6 min
First Republic reported a more than $100 billion plunge in deposits in the quarter in the aftermath of the biggest turmoil to hit the banking sector since 2008. Regional bank PacWest Bancorp (PACW.O) fell 9%, Western Alliance Bancorporation (WAL.N) 6%, Zions Bancorp (ZION.O) 5% and brokerage Charles Schwab Corp (SCHW.N) was down 4%. First Republic said on Monday it was "pursuing strategic options" to quickly strengthen the bank, without providing details. Options include an asset sale of up to $100 billion, a source familiar with the situation said on Tuesday. "So it's tough to even describe it as good asset and bad asset," Chiaverini said.
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