News Topic: Syndicated loans

Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market. ... Read full article

Franklin Financial agreed to be sold less than a year after issues surfaced in its portfolio of shared national credits. ... Read full article

By turning to investors outside traditional banking, private-equity firms are finding it easier than ever to get loans to finance their buyouts of corporations that are nowhere close to being profitable. ... Read full article

Amid widespread concern about their exposure to leveraged lending, the debt rating agency says banks have sufficient earnings and capital cushions to continue investing in the sector. ... Read full article

A recent joint analysis of large syndicated loans urged banks to improve their risk management, even though evidence suggests that nonbanks, not banks, hold the higher share of risky leveraged loans. ... Read full article

Despite a generally positive picture in the Shared National Credit report, regulators warned that underperforming loans in the the portfolio remain elevated. ... Read full article

U.S. financial institutions such as Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs have reported hundreds of millions of dollars of losses stemming from the scandal at retailer Steinhoff International. ... Read full article

The London interbank offered rate will likely be replaced by a new reference rate that critics say is better suited for the derivatives market than it is for commercial lending. ... Read full article

Bank of America is offloading some margin loans after losing $292 million on soured credit to the former chairman of Steinhoff International Holdings, according to people with knowledge of the matter. ... Read full article

The company, which recently shareda three-year plan to bring in more lower-cost deposits and commercial loans, seems ready to play offense a year after the abrupt ouster of its CEO. ... Read full article

Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million. ... Read full article

Snap Finance provides credit at the point of sale, primarily to consumers with bad credit. ... Read full article

A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders. ... Read full article

In their biannual Shared National Credits Program report, regulators said that banks' exposure to leveraged loans and the oil and gas sector remained a source of concern. ... Read full article

The Office of the Comptroller of the Currency issued the directive following an interim examination. ... Read full article

Coordinators of a financial-industry backed blockchain project say they have successfully demonstrated that the distributed ledger technology can be used to syndication, trade and make payments on leveraged loans. ... Read full article