Losses on commercial real estate loans pose the biggest risk to U.S. banks this year, troubling smaller lenders while unlikely to threaten the entire financial system, U.S. bank examiners concluded during a review.
Bloomberg reports that JPMorgan Chase & Co. and BNP Paribas sued K1 Invest Ltd. and K1 Group founder Helmut Kiener, claiming they lost money through a ??fraudulent circular investment scheme? conducted by K1 and its affiliates.
Greece??s rating was lowered to A2 from A1, Moody??s said in a statement from London today. That left it five steps above non-investment grade and two higher than the levels assigned to it by Standard & Poor??s and Fitch Ratings. The rating is the lowest among the 16 euro-member states and the same as that of Poland and Botswana.
Pacific Investment Management Co. (Pimco), the world??s biggest bond fund, cut government debt holdings and boosted cash to the most since Lehman Brothers Holdings Inc. collapsed in 2008.