The Latest News:
- The Office of the Comptroller of the Currency said banks are seeking profits by financing more into already-indebted companies and expanding into unfamiliar sectors, reports Ryan Tracy for the Wall Street Journal.
- “Our banks are looking at new products [and]weakening underwriting standards in some cases, in order to try and improve that top line revenue number,” Darrin Benhart, the OCC’s deputy comptroller for credit and market risk, said in the article.
- The Basel Committee on Banking Supervision scaled back minimum capital requirements to 15% of securitization, instead of the 20% proposed last year, after banks warned that the initial requirements were too harsh, Bloomberg reports.
RevenueShares Financials Sector Fund
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Max Chen contributed to this article.