Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
South Korea’s top financial watchdog attempted to revive optimism over the nation’s corporate reform initiatives to investors in New York while soothing concerns over the short-selling ban.
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Apr 4, 2024
Bloomberg News
,Prime Minister Justin Trudeau’s government is creating a $1.5 billion (US$1.1 billion) program to help Canadian nonprofit organizations buy affordable apartment buildings and keep the rents down.
It’s the latest in a series of pre-budget announcements focused on housing and affordability, as Trudeau tries to ease Canada’s severe housing crunch — and turn around his own sagging poll numbers.
The fund announced Thursday will provide $1 billion in loans and $470 million in grants to nonprofit groups for acquiring existing rental properties.
“Instead of that apartment being sold to a speculator or profiteer, it can go to nonprofit organizations, community housing providers and the middle class,” said Trudeau’s office in a news release. “It’ll mean Canadians can live in the communities they love, with rent prices they can afford.”
This follows Wednesday’s announcement of a $15 billion top-up to an apartment construction loan program. The $55 billion program aims to finance the construction of more than 131,000 new apartments within the next decade.
Earlier in the week, Trudeau outlined a $6 billion infrastructure fund that provinces and municipalities can access — but only if they remove certain barriers to homebuilding, such as freezing municipal development charges and allowing up to four units on every lot.
The budget is set to be published April 16.