Banks that operate in the US in the second quarter softened the standards of business lending, the results of a survey of the Federal Reserve showed, in which senior credit officers of 94 American and foreign banks took part. Banks have softened the standards for issuing loans to finance trade and industrial operations of companies, especially for borrowers with annual revenues in excess of $50 million. This is due to increased competition in the sector, as well as improved prospects for the economy and a reduction in uncertainty. The survey participants also pointed to the “moderate weakening” of demand for loans for construction, development of land and various types of housing mortgages.
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
The U.S. Federal Reserve eased another $2 million in emergency loans this week to help struggling U.S. businesses amid the recession. The Fed’s overall asset portfolio reported growth for the second week, holding above $7 trillion. The ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
Japanese manufacturers’ confidence dropped in the second quarter to levels not monitored since the global financial crisis of 2009. This highlighted the damage that the novel coronavirus crisis inflicted on the export-dependent economy. The ...
The Bank of Japan (BOJ) on Wednesday offered ¥8.28 trillion ($77.74 billion) in loans to financial institutions under its first phase of its new lending program. The move came in a bid to transfer funds to firms that have been heavily ...