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The rebound in Banking gained speed during the quarter, led by near-record levels of investment-grade debt issuance as improved market conditions enables issuers to pull forward activity. Our strong performance in both DCM and ECM drove InvestmentBanking revenue growth of 35% and overall banking revenue growth of 49%.
A broader worry is that while buyers’ hunger may be back for higher-quality companies, as shown by the uptick in investment-banking activity on Wall Street, the books of PE firms are stuffed with less attractive businesses snapped up at inflated prices. another Canadian pensions giant, told Bloomberg recently.
billion or 17%, but excluding the prior year's net investment securities losses, it was up 10% on higher asset management and investmentbanking fees and markets revenue was up $535 million or 8% year on year. Next the Commercial and InvestmentBank on Page 5. NIR ex-markets was up $1.8 Expenses of $22.6
Any kind, collateral, non-collateral. Now, deposit is very unique because deposits are unsecured debt to the bank. They don’t have collateral. Now does the FDIC even know how much risk they’re bearing 0 when all the assets are so encumbered that they’re all pledged as collateral? RITHOLTZ: Right.
billion, or 8% year on year, primarily driven by higher compensation expense, including wage inflation and higher legal expense. The net reserve build included a 389 million build in the commercial bank, a $200 million build in card, and a 243 million release in corporate, all of which I will cover in more detail later. Expenses of 20.2
This effectively collateralizes the cash value of the policy. The fair market value of the cap is what the carrier paid the investmentbank to buy the 10% cap. With a home equity line to collateralized your house. Let’s supposed for a minute the cap is 10%. And that’s it.
Yes, I did some legal stuff and rank stuff but I, you know, I went in on the weekends when we did the stock certificate count. GREW: So, I got a call and this one was ultimately from a recruiter who’s working for Lehman Brothers, an investmentbank, a bond house. RITHOLTZ: Sure, all the little banking things, yeah.
So I did my thesis on how leveraged buyouts work from the legal and the business side. It was between corporate law and investmentbanking. RITHOLTZ: So even back then, when it was the size that you could take a Christmas picture with everybody in one room at Goldman, they’re still doing investmentbanking.
And so, as advisors look to leave these big enterprises and go independent, one of the biggest things we need to train them on is the distinction between compliance, legal, and risk. RITHOLTZ: Compliance, legal, and risk. So, it’s not a legally binding document, but it’s a goodwill problem, right? HAMBURGER: Exactly.
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