Citigroup CEO Jane Fraser highlighted some potential benefits of lower interest rates this week.REUTERS/Erin ScottWall Street's biggest banks face a less profitable lending environment as interest rates fall.Bank bosses shrugged off those concerns this week and pointed to several benefits of lower rates.They cited stronger demand for loans including mortgages and refinancing, and improved repayment.Lending threatens to become far less lucrative for Wall Street's biggest banks as interest rates fall.
Similar Stories to Bank Bosses Aren't Worried About Lower Interest Rates — And Even See Some Upside on Bing News
tmohamed@insider.com (Theron Mohamed), Business Insider
Thu, 10/17/2024 - 3:04am
Topics: as well as reuters/erin scottwall street wall street federal reserve september march july america cfo alistair borthwick citigroup cfo mark mason wells fargo ceo charles scharf morgan stanley cfo sharon leshaya citi's fraser jpmorgan cfo jeremy barnum sachs ceo david solomon boa business insider citigroup ceo jane fraser fed citi wells fargo morgan stanley goldman worried bank bosses interest rates earnings control call quarter week banks cut loan reported economic growth mortgages inflation activity loans benefits environment refinancing banking analysts told fuel biggest demand executives lending highlighted fall pick net consumers income soaring lender delinquencies declining recession people raised debts reduce mortgage credit
BING NEWS:
- Bank bosses aren't worried about lower interest rates — and even see some upside
Bank executives said that lower rates appear to be boosting demand for mortgages, refinancing, and loans in general, as well as driving repayments.
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10/10/2024 - 10:02 pm | View Link - Oil price spikes and stocks tumble as Iran launches missile strike
Oil prices jumped and stocks tumbled on Tuesday after Iran fired an estimated 180 missiles at Israel in retaliation for the ground invasion of southern Lebanon.Brent crude jumped by as much as 4pc to ...
10/1/2024 - 9:34 am | View Link - Interest Rates
The Reserve Bank governor says interest rates may need to go even higher if one thing doesn’t improve – as she offers a glimmer of hope for early reprieve. The RBA has made its first rates call of ...
09/7/2024 - 3:41 pm | View Link - Banking & Savings: Lloyds Bank Re-enters Switch Market With £200 Deal
Pressure is mounting on bank bosses over poor interest rates on their savings accounts ... told the company they are worried about using up their emergency savings, leaving them unprepared ...
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