Recent turmoil in the banking industry has made the already-difficult task of selling off tens of billions of risky buyout debt even harder for Wall Street firms
has made the already-difficult task of selling off tens of billions of risky buyout debt even harder for Wall Street firms.
Bank of America Corp. , Barclays PLC, Morgan Stanley and others together currently hold $25 billion to $30 billion of on their balance sheets, according to leveraged-finance analytics firm 9fin. The unsold debt is tied to leveraged buyouts that banks agreed to finance before worsening credit conditions last year sapped investor appetite for the paper.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US bank deposit outflows decelerated in second week after SVB collapseDeposits at all U.S. commercial banks fell in the week ended March 22 to their lowest since August, but at a slower rate than the week before, and stabilized at small lenders seen as more vulnerable to outflows after the failure of Silicon Valley Bank.
Read more »
Deposits at small U.S. banks stabilize, but large banks see bigger outflowSmall U.S. banks managed to stop hemorrhaging deposits last week, but larger banks saw a bigger outflow of cash in a sign of lingering stress on the...
Read more »
San Francisco Fed leader Daly likely not a major player in SVB saga, officials saySan Francisco Fed President Mary Daly's district oversaw the second-largest bank failure in U.S. history.
Read more »
The next market trend could be 'bigger' than SVB, expert saysEven though the Federal Reserve might have started bending the inflation curve, Mick Mulvaney and Anton Schutz warn the central bank is ignoring 'the real problem out there.'
Read more »
Fatal fire complicates border city's tensions with migrantsIn Ciudad Juarez, the deadly fire and accompanying attention have only added to the strained situation.
Read more »