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 3, 2024
Bloomberg News
,Prime Minister Justin Trudeau said the upcoming federal budget will put $15 billion (US$11.1 billion) more into an apartment construction loan program, the latest in his efforts to address Canada’s shortage of housing as its population surges.
The additional money would bring the size of the federal loan program to $55 billion, allowing it to finance the construction of more than 131,000 new apartments within the next decade, the government said.
The program will also be reformed to extend the loan terms, expand access for student and senior housing projects, and allow for multiple projects to be financed at once. The government said it will speed applications for “proven home builders.”
In effect, Trudeau is applying the BC Builds program across the country. That program, set up in the west coast province of British Columbia, provides low-cost financing to accelerate homebuilding and aims to shorten approval times for projects.
Trudeau has been making a series of announcements ahead of the budget’s release on April 16 in an attempt to show his government is addressing Canada’s soaring housing prices and lack of supply.
On Tuesday he announced a new $5 billion infrastructure fund that provinces could access — but only if they remove certain barriers to building housing, such as freezing municipal development charges and allowing up to four units on every lot.