Wall Street banks lost billions in fees as private credit attracted corporate borrowers, leading them to build their own direct lending operations. JPMorgan, Citigroup, Barclays, and Morgan Stanley are among the firms joining the business. Big banks are adopting strategies from private credit to save their leveraged lending businesses. Moreover, a new analysis reveals that banks use deposits to loan money to carbon-intensive industries, creating significant emissions.
Banks Use Your Deposits To Loan Money To Fossil-Fuel, Emissions-Heavy Firms https://t.co/aAgLY6qSD4
Banks use your deposits to loan money to fossil-fuel, emissions-heavy firms https://t.co/FH3ZiIVhkz
Big Banks Are Copying From Private Credit’s Playbook https://t.co/4jTNCNATxd
“Banks use your deposits to make loans to carbon-intensive industries. $1,000 in your account creates emissions equal to a flight from NYC to Seattle.” This is wild, and it shows the @billmckibben was right: divestment matters. Read more: https://t.co/dfIVGTYCua
This is a fascinating explainer of why Wall Street banks want in on private credit: https://t.co/v1YUiWQJju
Banks use your deposits to make loans to carbon-intensive industries. A new analysis finds that $1,000 in your account creates emissions equal to a flight from NYC to Seattle. https://t.co/p3eaFsyHoG
JPMorgan, Citi and other big banks are copying from private credit's playbook to save their leveraged lending businesses https://t.co/1OxT984QJk
Update: Citigroup Fights for Credibility https://t.co/x6BmWYyG1D $C $BAC $WFC $USB $MS $JPM $COF | "If Fraser remains focused on improving Citi's operating results, then $BAC could become the very clear problem bank in the group.} https://t.co/r9CDXxBvnl
If you can't beat private-credit managers, join 'em? Citigroup, Barclays and Morgan Stanley are a few of the firms joining JPMorgan in building out their own direct lending operations 👇 https://t.co/M5QW2IYfhe
If you can't beat private-credit managers, join 'em? Citigroup, Barclays and Morgan Stanley are a few of the firms joining JPMorgan in building out their own direct lending operations 👇. How Private Credit Works and Why Wall Street Wants to Join the Business - Bloomberg
Wall Street banks lost out on billions in fees as private credit lured away corporate borrowers. Now it wants a cut. For @business @markets #privatecredit #banking https://t.co/HSRU0vfWPo
Great piece. Perfect description of why banks are into Private Credit from @PSeligson >> Wall Street lost out on billions in fees as private credit lured away corporate borrowers. Now it wants a cut https://t.co/u42IZWdang via @markets https://t.co/BVy3iQLe2w