The adoption of the IFRS 9 accounting rules will mean that banks’ reserves will rise by almost 30%
Q2 results for the big U.S. banks revealed positive trends in both earnings and loan growth
The banking sector’s fundamentals also continue to improve as troubled loans “have bottomed out in most regions” and profitability is up
The rise in overall cash holdings to US$1.84 trillion in 2016 comes despite an overall decline in revenue and cash flow from operations
These new services could simplify how prospective borrowers access traditional lenders
Report suggests sector is on track to top last year’s record
North American issuers made up majority of defaults so far this year
The rate, which was at 4.6% in November, is expected to continue declining to 3.2% next November, well below the historical average of 4.2%
The firm reports that 11 rated companies defaulted in July, pushing the year-to-date total to 102 defaults
The new regulatory requirements applying to the nine systemically important insurers is credit positive and will have little impact on these firms’ businesses