Banking in the United States

After delivering a 250 bps rate hike last week to increase the one-week repo auction rate to 17.5 percent, the Central Bank has announced a series of measures on selective credits and quantitative tightening.

In the first quarter of 2023, the value of bad loans that have been transferred to funds and are managed by servicers amounted to 70.6 billion euros, registering a decrease of €96 million compared to the fourth quarter of 2022.

The Cypriot Ministry of Finance has announced that over 1,300 loan applications involving a total amount of 131.1 million euros have been submitted under the Oikia scheme, a loan management plan with government funds granted under Government Housing Plans.

The secondary loan market is expected to grow in 2021 and rise far above the 100-billion-euro level, while the new securitizations already announced are set to top €20 billion, the Association of Loan and Credit Claims Management Companies (EEDADP) stated on Thursday, on the occasion of its second birthday.

Servicers are handling bad loans of 30.8 billion euros, Bank of Greece data showed on Tuesday, as the companies that have taken on banks' nonperforming loans increased their portfolios in the first quarter of the year by €7.3 billion.

Bad-loan management companies are setting five strict criteria to agree to writing off parts of nonperforming loans they have undertaken to manage either for the funds that have acquired them or for the banks the NPLs still belong to.

The Turkish Treasury's cash balance posted a surplus of 5.69 billion Turkish liras ($1 billion) in August, the Treasury and Finance Ministry announced on Sept. 6.

The Turkish Treasury's cash balance posted a deficit of 11 billion Turkish liras ($1.9 billion) in June, the Treasury and Finance Ministry announced on July 5.

Turkey will issue government debt securities worth €3.7 billion ($4.16 billion) on April 24 to support its banking sector, the Treasury and Finance Ministry announced on April 22.

A man, who had fallen asleep on the roof of a building, was caught by passersby who sensed the danger and stretched a tarp, breaking his fall. However, they did not manage to save his life.