The European Central Bank wants to ensure that credit flows into the European economy to support its recovery as the pandemic continues. Banks cash in. Eurozone banks make money through an ECB program that essentially remunerates them for lending, increasing their income, and helping to offset some of the costsRead More →
The non-bank lender has announced that it has extended its commitment on trailing commission payments to brokers for borrowers affected by COVID-19. In March of this year, Pepper Money was the first lender to announce that it continue to honor all track payments for customers affected by the coronavirus pandemicRead More →
The average 30-year mortgage rate could drop below 3%, an incredibly low level that could lead even more Americans to refinance. But for mortgage rates to break through this historic barrier, financial forces would have to line up in a way some economists consider unlikely. Perhaps the most important, TreasuryRead More →
Syracuse, NY – The $ 900 billion stimulus bill contains $ 284 billion for a second round of small business loans under the federal government’s paycheck protection program. The US Small Business Administration approved 5 million PPP loans, for a total of $ 500 billion, in the first round ofRead More →
Bank bosses bragged at the start of the coronavirus pandemic that, unlike the financial crisis, their institutions would help save rather than overthrow the global economy. But for many of their shareholders, 2020 was the year that European lenders came close to being unable to invest. Despite a recent modestRead More →
People wearing face masks walk in front of a large euro sign in Frankfurt Main, western Germany, as the headquarters of the European Central Bank (ECB) can be seen behind -plan on April 24, 2020. Yann Schreiber | Getty Images Question marks persist for major European banks as they enterRead More →
Hungarian Parliament, Budapest, June 2017 © Paolo Paradiso / Shutterstock As Germany takes the rotating EU presidency, Chancellor Angela Merkel Noted that the bloc faces a triple challenge: the coronavirus pandemic – receding but still requiring constant vigilance – the most brutal economic downturn on record by the EU andRead More →
LONDON – European banks are bolstering their capital by canceling or delaying dividend payments, worrying about their ability to absorb a possible rush of bad debts as households and businesses are hit by the coronavirus pandemic. On Tuesday evening, the UK’s four largest banks in terms of assets said theyRead More →
More than a decade after the financial crisis, European banks are facing a major test of their resilience. This week, growing fears about the coronavirus pandemic and an oil price war caused the market to sell off. Businesses have spent a decade gorging themselves on cheap debt in an environmentRead More →