Cap Markets

Investors are looking past signs of weakness and toward an eventual recovery, but top executives at BlackRock, Citigroup, Goldman Sachs and other financial firms remain cautious as many cities and states remain in partial lockdown to slow the spread of the coronavirus.

Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.

Some lenders are issuing debt and preferred stock to provide an extra buffer for credit losses. Others are preparing for growth opportunities.

Craft Bank, which plans to open this summer, is in the final stage of raising $30 million in initial capital.

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

The regional wants to “play offense” with the proceeds of its $17 billion BlackRock stake; shares of some bank shares jumped 6% Thursday but remain well behind the rest of the market.

Bank of America is set to price today a $1 billion bond issue to fund COVID-19 relief efforts. It's the first sale from a U.S. financial institution that explicitly links all proceeds to tackling the virus, Bloomberg data show.

The Ohio Democrat's criticism of Rodney Hood, chairman of the National Credit Union Administration, echoed complaints from bankers that the regulator was using the chaos from the pandemic to push through changes.

The central bank will disclose information on a monthly basis about its Term Asset-Backed Securities Loan Facility and its Paycheck Protection Program Liquidity Facility.

The Term Asset-Backed Securities Loan Facility is just one example of a fund that could be retooled.