Commercial banking

Chris Lafond is the Chief Executive Officer at Insurity. With over 35 years' experience in the technology, financial, insurance and sectors, Chris has a deep understanding of the market challenges and objectives faced by multinational corporations. His expertise includes strategic planning, investor relations, and transformational leadership. Under his leadership, Insurity has experienced consistent growth, reinforcing its position as the largest cloud-based software provider in P&C insurance with 330+ customers deployed in AWS and Azure.

DBRS assumes a base-case net cash flow of $15.8 million on the portfolio, about 28% lower than the issuer underwritten net cash flow amount of $21.9 million.

Federal Reserve Vice Chair for Supervision Michael Barr said Friday that Fed supervisors continue to draw on lessons learned from last March's bank failures—including heightened scrutiny—addressing risks banks currently face including firm asset growth, liquidity pressures and plummeting commercial real estate values.

Banks have been boosting purchases of top-rated CLOs. Commercial bank holdings of mortgage bonds are also on the upswing, climbing 12 of the last 15 weeks.

Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.

The deal has a relatively high exposure to commercial and industrial customers. Non-residential ratepayers account for 55% of its customers and about 47% of its revenue.

The public retirement fund, one of the biggest in the US, said four years ago it would review all of its fossil-fuel holdings as it sought to reduce investment risks linked to climate change.

Financially stressed consumers nearing their credit limit use buy now/pay later loans to finance smaller purchases, while wealthier households want to avoid paying interest or carrying a balance on credit cards for bigger-ticket items, according to the New York Fed.

Reid Thomas is Chief Strategy Officer at Ampersand, which offers deposit management services.

For the first time since mid-December, the Freddie Mac survey reports mortgage rates over 6.7%.

HBAN will service the transaction, with an A3 rating for long-term, senior unsecured debt, an A2 long-term credit assessment, and P-1 for short-term deposits.

Underwriting league tables of asset-backed securities through February 15, 2024

Issuance volume of asset-backed securities for the year through February 15, 2024

The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.

The notes benefit from total hard target credit enhancement of 16.50%, with an estimated 4.02% in estimated excess spread per year.

Stefania DeMarco is the National Director of Business Development for CBIZ MHM, LLC with over 16 years of experience in the areas of tax planning, financial due diligence consulting, and compliance for privately held companies in the mid-market size range.

Jill Bommarito is the founder and CEO of Ethel's Baking Co. in Metro Detroit. The company specializes in gluten-free desserts.