

By Matt Tracy
(Reuters) - JPMorgan (NYSE:JPM) Chief Financial Officer Jeremy Barnum told investors the bank is "absolutely open for business" in leveraged lending even as other U.S. banks are expected to book significant losses on risky loans underwritten last year.
“Terms are better, pricing is better, we have the resources needed," Barnum said on a conference call with analysts. "We’re fully there. No overhang and no issue.”
Barnum's comments come after many U.S. banks cut back on lending to lower-quality corporate borrowers last year, as Wall Street’s demand for leveraged loans plunged as the Federal Reserve raised interest rates to tame inflation.
After significant losses on debt sales last year, including a $700 million loss on an $8.5 billion debt package funding the buyout of software maker Citrix Systems Inc (NASDAQ:CTXS), major banks have largely chosen since then to absorb debt they had underwritten earlier in the year.
Some $35 billion to $50 billion of such loans are stuck on banks’ books as they await a better market environment, bankers told Reuters previously.
Last summer, Bank of America (NYSE:BAC) jointly led a group of banks to provide $13 billion in loans and bonds to Elon Musk for his acquisition of social media giant Twitter. The banks have since struggled to get the debt off their books at a reasonable price, instead choosing to hold the debt.
When asked whether these stuck deals would constrain lending activity by large banks like JPMorgan, which has been less active than its peers, Barnum said the overhang is already reflected in prices and banks are able to absorb losses on existing deals.
“There’s a bit of a narrative that activity in the market needs to overcome an overhang,” Barnum said. “We’re not convinced that that’s true.”
Banks must still mark to market the Twitter debt and other deals to their market value on their books, setting aside funds for losses that are reported in quarterly results. The exact amount remains to be seen, as the banks decide how much to write it down based on market checks and judgment.
Bank of America Corp’s Chief Financial Officer Alastair Borthwick said company accounts for leveraged loans in its results, without giving details on any large deals.
“We mark our positions every week,” and books profits or losses via its investment banking and trading arms, Borthwick said. “It’s all in there, our results reflect any marks in any given quarter and we follow the process as we do every time.”
EUR/USD
1.0770
+0.0011 (+0.10%)
Summary
BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (5)
Sell (2)
EUR/USD
1.0770
+0.0011 (+0.10%)
Summary
BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (5)
Sell (2)
GBP/USD
1.2246
+0.0016 (+0.13%)
Summary
BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (5)
Sell (4)
USD/JPY
130.63
-0.06 (-0.04%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
AUD/USD
0.6652
+0.0007 (+0.11%)
Summary
↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (6)
Sell (0)
USD/CAD
1.3731
-0.0013 (-0.09%)
Summary
BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (4)
Sell (3)
EUR/JPY
140.70
+0.09 (+0.06%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (3)
Sell (3)
EUR/CHF
0.9890
-0.0006 (-0.07%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (1)
Sell (6)
Gold Futures
1,995.20
-6.50 (-0.32%)
Summary
↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (10)
Sell (0)
Silver Futures
23.233
-0.106 (-0.45%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (3)
Copper Futures
4.0750
-0.0025 (-0.06%)
Summary
↑ SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (1)
Sell (6)
Crude Oil WTI Futures
69.22
-0.04 (-0.06%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (2)
Sell (5)
Brent Oil Futures
74.48
-0.11 (-0.15%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (2)
Sell (3)
Natural Gas Futures
2.278
-0.083 (-3.52%)
Summary
NeutralMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (4)
Sell (1)
US Coffee C Futures
179.42
+5.12 (+2.94%)
Summary
NeutralMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (3)
Sell (4)
Euro Stoxx 50
4,130.62
-76.52 (-1.82%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
S&P 500
3,970.99
+22.27 (+0.56%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
DAX
14,957.23
-253.16 (-1.66%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
FTSE 100
7,405.45
-94.15 (-1.26%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (10)
Sell (0)
Hang Seng
19,639.50
-276.18 (-1.39%)
Summary
SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (2)
Sell (5)
US Small Cap 2000
1,734.92
+14.63 (+0.85%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (7)
IBEX 35
8,792.50
-177.50 (-1.98%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (6)
Sell (2)
BASF SE NA O.N.
45.915
-0.460 (-0.99%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (1)
Bayer AG NA
55.55
-0.39 (-0.70%)
Summary
NeutralMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (3)
Sell (5)
Allianz SE VNA O.N.
205.15
-1.65 (-0.80%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (2)
Adidas AG
141.12
-1.18 (-0.83%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (6)
Sell (3)
Deutsche Lufthansa AG
9.367
-0.476 (-4.84%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (10)
Siemens AG Class N
140.58
-4.60 (-3.17%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (2)
Deutsche Bank AG
8.540
-0.796 (-8.53%)
Summary
↑ SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (1)
Sell (7)
EUR/USD | 1.0770 | Buy | |||
GBP/USD | 1.2246 | Buy | |||
USD/JPY | 130.63 | ↑ Sell | |||
AUD/USD | 0.6652 | ↑ Buy | |||
USD/CAD | 1.3731 | Buy | |||
EUR/JPY | 140.70 | Neutral | |||
EUR/CHF | 0.9890 | ↑ Sell |
Gold | 1,995.20 | ↑ Buy | |||
Silver | 23.233 | ↑ Buy | |||
Copper | 4.0750 | ↑ Sell | |||
Crude Oil WTI | 69.22 | ↑ Sell | |||
Brent Oil | 74.48 | ↑ Sell | |||
Natural Gas | 2.278 | Neutral | |||
US Coffee C | 179.42 | Neutral |
Euro Stoxx 50 | 4,130.62 | ↑ Buy | |||
S&P 500 | 3,970.99 | ↑ Buy | |||
DAX | 14,957.23 | ↑ Buy | |||
FTSE 100 | 7,405.45 | ↑ Buy | |||
Hang Seng | 19,639.50 | Sell | |||
Small Cap 2000 | 1,734.92 | ↑ Sell | |||
IBEX 35 | 8,792.50 | ↑ Buy |
BASF | 45.915 | ↑ Buy | |||
Bayer | 55.55 | Neutral | |||
Allianz | 205.15 | ↑ Buy | |||
Adidas | 141.12 | ↑ Buy | |||
Lufthansa | 9.367 | ↑ Sell | |||
Siemens AG | 140.58 | ↑ Buy | |||
Deutsche Bank AG | 8.540 | ↑ Sell |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 6,680![]() ![]() (10 ![]() ![]() |
SJC HCM | 6,665![]() ![]() (5 ![]() ![]() |
SJC Hanoi | 6,665![]() ![]() (5 ![]() ![]() |
SJC Danang | 6,665![]() ![]() (5 ![]() ![]() |
SJC Nhatrang | 6,665![]() ![]() (5 ![]() ![]() |
SJC Cantho | 6,665![]() ![]() (5 ![]() ![]() |
Cập nhật 27-03-2023 10:37:10 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$1,975.46 | -3.17 | -0.16% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 23.960 | 24.430 |
RON 95-III | 23.030 | 23.490 |
E5 RON 92-II | 22.020 | 22.460 |
DO 0.05S | 19.300 | 19.680 |
DO 0,001S-V | 20.560 | 20.970 |
Dầu hỏa 2-K | 19.460 | 19.840 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $69.20 | +0.5 | 0.72% |
Brent | $74.45 | +0.55 | 0.73% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 23.310,00 | 23.680,00 |
EUR | 24.658,60 | 26.039,29 |
GBP | 28.021,24 | 29.216,01 |
JPY | 174,95 | 185,22 |
KRW | 15,63 | 19,04 |
Cập nhật lúc 10:30:10 27/03/2023 Xem bảng tỷ giá hối đoái |