News

TIAA completed the sale of TIAA Bank to private investors with experience in financial services and will now officially begin operating once more as EverBank under a new national bank charter. Terms of the transaction are not being disclosed.

A new survey from Stifel Financial and Eaton Partners indicates a majority of institutional investors have no plans to change their private equity allocations over the next 12 months despite perceived headwinds, including tightening credit and a possible economic recession.

NFI Group received an extension for the completion of the required amendments and financial covenant waivers under its existing North American senior secured credit facility to Aug. 25 and Aug. 31, respectively, to support the completion of its refinancing plan.

Funds managed by the credit group of Ares Management closed approximately $4.1 billion in U.S. direct lending commitments across 51 transactions during Q2/23.

FTX Trading and its affiliated debtors filed an initial plan of reorganization and related term sheet with the U.S. Bankruptcy Court.

Versant Funding funded a $4.8 million non-recourse factoring transaction for a commercial bakery that serves major grocery chains.

Kroll Bond Rating Agency released a research report analyzing non-performing loan transactions since the global financial crisis. KBRA said that while commercial real estate non-performing loans are unlikely this year, it is possible that some could be explored for issuance...

The U.S. Small Business Administration is celebrating 70 years since its inception, with Isabella Casillas Guzman, administrator of the SBA, ringing the closing bell at the New York Stock Exchange today at 4 p.m. ET.

The Office of the Comptroller of the Currency, the board of governors of the Federal Reserve System and the Federal Deposit Corporation issued new rule proposals that would modify large bank capital requirements and implement the final components of the...

On Wednesday, the Federal Reserve announced that it will raise the target range for the federal funds rate to between 5.25% and 5.5%, marking a quarter point increase and its fourth such move of 2023 following a pause in June.