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Category: Credit


Capital and Risk, Credit

Small business loans are not going proportionately to the hardest-hit areas, Fed study shows

May 6, 2020

Via: CNBC

States enduring the brunt of the coronavirus crisis are receiving a smaller proportion of emergency small business loans than some Mountain and Midwest states, according to analysis conducted by the Federal Reserve. “In New York, the epicenter of the coronavirus […]


Capital and Risk, Credit

Banks are facing huge credit losses as their customers suffer through the coronavirus pandemic, S&P warns

May 5, 2020

Via: Market Watch

S&P Global Ratings revised its outlook on the ratings of 13 U.S. banks to negative from stable and said the coronavirus pandemic will hit hardest those lenders that are most exposed to industries such as commercial real estate and consumer […]


Capital and Risk, Credit, Regulations

Mnuchin says U.S. will audit small-business loans above $2 million and warns of ‘criminal liability’ for false certifications

April 28, 2020

Via: Market Watch

The Trump administration will audit small-business loans above $2 million, U.S. Treasury Secretary Steven Mnuchin said Tuesday, as he warned of criminal liability for companies who improperly got government cash. “It’s the borrowers who have criminal liability” if they made […]


Activity, Capital and Risk, Credit, Insurance

New York’s NYCM Insurance Announces Credit to Auto Policyholders

April 17, 2020

Via: Insurance Journal

NYCM Insurance will be issuing a credit to its approximately 230,000 auto policyholders. All auto policyholders as of April 30, 2020, will receive a 15% credit back from their April and May premiums. Customers will not need to do anything […]


Capital and Risk, Credit, Products, Retail Banking

Goldman Sachs, the white-shoe investment bank, launches installment loan business with JetBlue

April 10, 2020

Via: CNBC

Goldman Sachs is taking another step into the world of retail banking with an installment loan product that’s launching with JetBlue Airways. The bank quietly released a website for something called MarcusPay this week, allowing users to break up big-ticket […]


Capital and Risk, Credit

China calls on banks to lend more aggressively to small businesses

April 9, 2020

Via: Banking Technology

On 3 April, the People’s Bank of China (PBOC) cut the interest rate it pays banks to park funds with the central bank to 0.35% from 0.72%. The PBOC had last cut the rate in November 2008. Beijing also lowered […]


Capital and Risk, Credit, Macroeconomic

US Federal Reserve pours $2.3 trillion into financing economy

April 9, 2020

Via: Banking Technology

“This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic,” the Fed said in a statement. Through its ‘Main Street’ lending facility, the […]


Capital and Risk, Credit, Regulations

The Fed is lifting Wells Fargo’s asset cap so it can help lend to small business

April 8, 2020

Via: CNBC

The Federal Reserve is lifting the asset cap it has imposed on Wells Fargo so the bank can participate in the government’s business lending programs. In a move that was expected, the central bank said Wells will have to return […]


Capital and Risk, Credit

Bank of America sees booming rescue loan demand, with applications for nearly 10% of program

April 6, 2020

Via: CNBC

Bank of America said Monday that it’s seen fierce demand for emergency rescue loans with current applications already accounting for nearly 10% of the entire amount allocated by Congress. The bank confirmed that it has received applications from 177,000 small […]


Capital and Risk, Credit

Startups are scrambling for access to $349 billion in relief loans

April 2, 2020

Via: Bank Innovation

Representatives for venture-backed startups are pushing for the companies to get access to $349 billion in small business loans authorized by Congress as part of its economic relief plan for Covid-19. So far it appears that many such businesses won’t […]