Also, Deutsche and Citi have sold $20 billion of similar debt products to private equity houses such as Blackstone, Apollo and TPG recently.
Add to this that the US private-equity firm, Cerberus Capital, are quoted as saying: "The banks need to unload their inventory or they cannot do deals. The market has started to move and we have bought quite a few of the loans", and might all of this be pointing to the end of the bad times?
Are the good times coming back?
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...