An old strategy is being reinvented on Wall St

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The story "An old strategy is being reinvented on Wall St" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

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Financial Times 2w ago

An old strategy is being reinvented on Wall St - Financial Times

Quick Summary:

Banks of all stripes are once again moving risk off their balance sheets, in line with the demands of their prudential regulators, to make room for taking on more risk.

For a fee, they transfer some of the risk on banks’ balance sheets to the likes of Apollo Global Management, Blackstone, and Bayview Asset Management, among others, who like taking on the risk generated by others, hoping to profit from it.

Johnson’s letter to Powell followed on the heels of one written by Senator Jack Reed of Rhode Island, who also urged Powell to “place additional guardrails” around credit risk transfers.