Finance

Almost two-thirds of banking executives believe the U.S. will see its highest interest rates this cycle in the first half of next year. And close to 60% of executives said they are concerned the Federal Reserve is hiking rates too quickly.

BofA, JPMorgan Chase, and Wells Fargo saw net charge-off rates in their credit-card portfolios decline from the second quarter even as spending soared.

In a post-lockdown world, some 29.3% of the borrowers in the pool are considered self-employed, higher-than-average compared with recent jumbo prime deals.

Bank of America won't cut jobs in its investment banking unit despite the recent slowdown and plummeting fees tied to deals, says CFO Alastair Borthwick.

Its investment banking and corporate lending revenues dipped during the third quarter, while treasury services and branded cards were bright spots. That formula will be tested by "rolling, country-level recessions" across the globe, CEO Jane Fraser predicts.

The impairment rate for securitized non-qualified mortgages improved a little in August after increasing slightly the two previous months.

The Pittsburgh company's finance chief expects more gains in interest income, though he conceded rising deposit costs could curb the pace of advances.

Prime and non-prime mortgages back the notes, and a significant portion of the collateral are loans from a Community Development Financial Institution.

A shift toward private markets is cushioning many of the world's largest investors from the wreckage wrought by runaway inflation and spiraling interest rates.

Central banks' aggressive interest-rate hikes to tame inflation have increased the likelihood of borrowers' interest-rate coverage falling short.

HPEFS, 2022-3, is one of the smallest securitized transactions to be issued from the program in two years, and it has the smallest aggregate contract balance.

A measure of U.S. consumer prices rose by more than forecast to a 40-year high in September, pressuring the Fed to raise interest rates even more aggressively.

Since last year, GoodLeap had expanded its offerings to include Home Efficiency Loans, funding a range of improvements such as LED lighting, HVAC, and generators.

US corporate-bond issuance has become tougher to predict amid a spike in volatility, leading dealers to overestimate volume in four of the last nine months.

That pushed down a gauge of applications to purchase or refinance a home by 2%, the eighth drop in nine weeks, to the lowest level since 1997.

The job cuts are coming as higher mortgage rates cut into demand from homeowners to refinance their loans, and reduced purchase activity as well.

Only credit card ABS and residential MBS saw increases, while other major asset classes dipped. Production in private SLABS dipped about 44%.

Cathie Wood flagged the risk of "serious losses" in the trillion-dollar auto debt market, after statistics showed US used vehicle prices decreased in September.

During a visit to Buffalo on Friday, New York Federal Reserve President John Williams said the central bank may need to keep cranking up interest rates to gain greater control over high inflation.

In one notable change from the previous deal, PART 2021-1, the percentage of bankruptcy collateral decreased to 18.58%, from 44.27%.